Global medical insurance policy is best option for those on the move

Question: I am looking at getting a new health insurance policy for me and my family in the wake of the H1N1 virus. I travel a good deal with my job, but my family stays in Dubai. Do I need to get different health insurance policies for each of my family members, or will one policy suffice?

There are a whole range of health insurance products offered by international and local UAE insurance companies. The best way to equip yourself with the necessary knowledge is to speak to an independent financial adviser, especially if you are looking for different policies for different members of your family, and cover that includes emerging diseases.

If you travel a lot, then the best medical insurance you can get is a global policy. That means wherever you are in the world, the policy can be actioned. These policies are obviously more expensive than country-specific or regional policies that just cover the Middle East or South East Asia, for example.

International policies are often restricted to emergency medical care that includes being airlifted from remote areas to the nearest centre offering critical care. However, they can be extended to cover elective procedures too — such as heart bypass surgery — if you think you would rather undergo such operation outside the UAE.

But in relation to emerging diseases such as the H1N1 virus, this is a grey area. The big question is: am I covered if I or my family contract swine flu? At present, there are some local insurers that will not cover the testing for H1N1, but will cover treatment. Meanwhile, some global providers will cover the testing and treatment of such viruses, whether a pandemic has been declared or not.

If you have a family that requires different policies, then there are some insurers that will write separate plans for each family member and charge separately. Others will only write one family policy, but may charge for the first child only. If this is important to you, possibly as a means of keeping costs down, then you need to stipulate this from the beginning of your discussions.

Other specifics to look for when choosing a health insurance policy include things like co-insurance, excess, and obviously, exclusions.

Co-insurance

Co-insurance is where the patient is required to pay a certain percentage of the costs, say 20 per cent, upfront, when attending a health care centre for treatment.

Excess is the fixed amount of a claim that the patient is responsible for. Choosing a higher excess will reduce your monthly plan payments. Exclusions often include non-emergency dental care and preventative health measures, such as screening for cancers and routine maternity care — for which you will have to pay extra to be included on the policy.

Also, watch out for previous medical history. Congenital defects and chronic conditions are covered and can be treated. Some companies will exclude previous medical conditions altogether, stipulating that if you have suffered a condition in the past, it will not be covered until you have gone for a set period of time without suffering any symptoms.

For long-term conditions such as diabetes and heart disease, for which sufferers require ongoing medical treatment, premiums will be automatically increased to cover the costs.

Calculating the extra fees levied on each policy option, before deciding which one to go for, would be a wise move, and something your financial adviser can help you with.

- Samantha Lloyd du Plessis is a general insurance team leader at Nexus Insurance Brokers L.L.C. (www.nexusadvice.com)