The Importance of Health Insurance while Vacationing Abroad

Before you book your vacation, look into your travel insurance coverage. Most people assume their Credit Card companies and life insurance policies, cover them while travelling, or often people believe nothing will happen to them. It is best to research all of your options, so that you are fully informed and can make the correct choice for adequate coverage. If you have already purchased your trip, understand that purchasing insurance is a must.

There are many options to choose from before you book your trip. Shop around and find out what you already have. Only then can you make an informed decision regarding what additional insurance you may need to be fully covered. Vacationing is meant to be a stress-free enjoyable time. For instance, your insurance could reach over $1000.00 if you have a pre-existing medical condition, are over 65 and are vacationing for two weeks. If you find yourself in a pinch, there are always third party lenders that would enable you to go on that special vacation if you required a loan for your insurance protection.

What does OHIP cover if I leave the country on vacation?

• Barely anything if you are travelling outside of Canada

• OHIP strongly recommends purchasing additional health insurance coverage.

• OHIP will only contribute a portion to the cost if an accident meets certain criteria. For example your “pre-existing conditions” won’t be covered.

Credit Card Coverage: Questions to ask?

• If I own a credit card with health insurance provisions but do not book a trip using that card, am I still covered through them?

• Do I need to tell my Credit card company I am taking the trip and do I have to stipulate all of the details?

• Is there a deductible I have to pay should the need arise?

• What is the maximum amount covered? Will it cover me to be flown home if required?

• Do I have to be reimbursed and pay up front for medical expenses?

• Am I still covered if I am over 65?

• Is my family covered under the same card?

When choosing a Travel Insurance policy that’s right for you, purchase it with the mindset that you will use it. There are numerous factors to consider in choosing a tailored insurance plan. Most plans are based on age, the number of days you will be out of the country, and your medical history.

Banks can provide you with extremely detailed policies that clearly spell out every possible scenario. They offer a variety of options from all-inclusive plans, to just emergency medical packages, to trip cancellation policies.

Things to keep in mind when shopping for the best fit through different Insurance Providers

• The typical provision for Medical/Hospital Insurance is up to $5,000.000. Is that enough?

• Are you a resident of Canada? If you are not a resident you may not be eligible for certain plans.

• Take a copy of the insurance document with you and make sure you have all supporting information. Make sure you include a file of your own medical history such as a family doctor’s contact info, and all medications you are currently taking.

• Make sure someone at home has all of your information as well, so that he or she can help you should the need arise.

• Find out if you are responsible for paying the Hospital or if your insurance provider directly takes care of that.

Take care of you and your family so that you can enjoy your time abroad.

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