A Guide To Health Insurance For International Students

For international students, health insurance would probably not be considered as the most exciting topic, but it is an indispensable aspect of studying abroad.

Let’s look at it this way. The student is in a new country. Everything around is newfound and exhilarating! As the student gets accustomed to the newness of the place, he/she unexpectedly becomes sick or has an accident. Back in India, there would not be a need to think twice about going to a doctor. But when it comes to the overseas? The student will have to think umpteen times about even considering a visit, just because healthcare costs there can be exorbitant!

As an expat or a student, there will often be situations where the footing of bills becomes more than the resident community, because of not being covered by the overseas government healthcare plans. That is why having a comprehensive health insurance policy is an intelligent and good idea.

However, with so many choices laid out for anyone and everyone, it can be rather overwhelming to decide upon the most suitable, the most appropriate and the most feasible plan. Making sure of choosing a good one, ascertains that all needs are met without costing a fortune.

A thorough research and getting answers to all the necessary questions is inevitable to avail a policy that zeroes down to the coverage required.

Everything a student must know about choosing an international health insurance plan while making plans to study abroad is categorized here:

Why Do Overseas Students Need International Health Insurance?

• Healthcare:

  International health insurance covers the expenses for doctor visits, prescription medications, emergency and critical care, hospitalization, and specialist consultations. This is a prerequisite when staying away from the home country.

• Visa Compliance:

  Most study abroad destinations like Canada, the UK, and Australia require international students to have a health insurance. It necessitates that students obtain health insurance to ensure access to imperative medical services during their stay.

• Quality

  Overseas health insurance gives access to superior healthcare. This matters, especially when staying in a foreign country away from loved ones. It must be ensured that one is well taken care of and at the same time, families back home, are at ease.

• Finances:

  Unexpected health issues can burn a hole in pockets. Having good medical insurance guarantees protection even during emergencies.

• Safety:

  As thrilling as it is, studying abroad can also be a challenging experience. Health insurance is the safety net that can be fallen back on to focus more on studying and exploring new opportunities.

What Does Student Health Insurance Cover?

Health insurance for international students usually covers:

• Inpatient Care:

  Inpatient care refers to medical treatment that requires a patient to be admitted to a hospital or medical facility. This generally includes surgeries, serious illness treatments and extended medical observation.

• Outpatient Care:

  Outpatient care involves medical services that do not require an overnight hospital stay, such as check-ups, minor procedures, and consultations.

• Prescription Medications:

  These are medications prescribed by doctors for managing chronic conditions, treating infections and alleviating symptoms of various illnesses.

• Laboratory Tests and Diagnostic Procedures:

  These services include blood tests, X-rays, MRIs, and other specialized tests that help doctors diagnose and treat medical issues effectively.

• Emergency Medical Evacuation:

  Emergency medical evacuation involves transporting a patient to the nearest adequate medical facility either abroad or in their home country in case of severe illness or injury. This service is of utmost importance for international students who may require urgent critical care.

• Dental Emergencies:

  Dental emergencies involve urgent dental care situations such as severe toothaches, broken teeth, or infections.

Some overseas health insurance plans also cover:

• Routine dental care (including check-ups and fillings)
• Mental health support
• Local ambulance services
• Pre-existing medical conditions
• Sports-related injuries
• Maternity care

Types of Health Insurance for Overseas Students

Health insurance for international students is commonly of the following three types:

University-Provided Insurance:

Many universities offer their own health insurance plans tailored for international students. These plans habitually meet specific visa requirements and provide coverage for basic medical needs such as doctor visits, hospitalization, and emergency care.

Government-Mandated Insurance:

Some countries require international students to have health insurance that meets certain government standards. These insurance policies are normally regulated by the government to ensure that students have the access to expedient medical care while studying abroad.

Private Medical Insurance:

Private medical insurance allows students to opt for their own insurance provider and policy based on their individual needs and preferences. These plans generally offer more flexibility in terms of coverage options, deductibles, and network of healthcare providers.

Where to Begin?

When looking for a good health insurance policy, the first step is to do research about the health insurance requirements of the host country and the university. If an online search fails to yield satisfactory results, it is better to reach out to the study abroad counsellor or the university to get reliable answers.

Verify if the university provides with insurance and whether it can be waived off. This is for ascertaining if insurance can be acquired personally. If the university offers an opt-out option, a scrupulous review of the policy is vital before making a decision.

If the decision is made to acquire the insurance personally, a comparison should be made of the different policies to confirm that they cover all the fundamental medical expenses and emergencies. International students can also be reached out to get recommendations and insights on the best insurance options available.

Factors to Consider When Picking Health Insurance for International Students:

The following factors must be analysed before choosing an overseas health insurance plan. 

• Coverage Limits:

  It is crucial to ensure that the health insurance plan provides the right coverage for essential medical services without imposing restrictive limits on overheads. If there is a need for services like mental health support, maternal care, vision and dental care, it has to be made sure that the plan covers it.

• Premium:

  Deduction of a correlation of the premiums of different insurance plans is done to find the one that fits the budget while providing comprehensive coverage. It is essential to determine the payment frequency of the premium - annually, semi-annually, or monthly and take into account any discounts for long-term payment plans.

• Deductibles and Out of Pocket Maximum:

  The deductible is the initial amount that is to be paid for medical services before the insurance coverage kicks in. For instance, if the deductible is $500, this amount must be paid first before the insurance starts covering costs. Once the deductible is reached, the insurance begins to pay its share of the expenses.

  On the other hand, the annual Out-of-Pocket Maximum is the furthermost that will have to be paid for the services covered in a year, including deductibles, co-payments and coinsurance. Once this hits the maximum amount, the insurance covers all additional costs for the covered services for the rest of the year.

• Co-pays:

  Co-pays are fixed amounts that are paid out of one’s own pocket for specific medical services or prescriptions. The co-pays for routine doctor visits, specialist consultations, prescription drugs, and emergency room visits must be scrutinized, as these can vary significantly between insurance plans.

• Network Providers:

  It is beneficial to evaluate whether the insurance plan has a network of healthcare providers, hospitals, and clinics where medical treatment at a lower cost can be received. Insurance companies in most cases have tie-ups with certain healthcare providers resulting in lower expenditure.

• Additional Benefits:

  Beyond basic medical coverage, there may be additional benefits such as coverage for mental health services, dental care, maternity care, vaccinations, preventive screenings, and emergency medical evacuation or repatriation that needs to be looked out for. On the basis of personal health needs and the potential risks associated with studying abroad, an assessment of these benefits can be made.

• Duration of the Coverage:

  The entire duration of the study abroad program, including any additional travel or internship periods, should be covered by the choice of the health insurance plan. Some insurance plans may offer extensions or options to renew coverage if the stay abroad is extended unexpectedly.

• Limitations:

  Be aware of any limitations or exclusions in the insurance policy. These may include pre-existing medical conditions, specific medical treatments or procedures, coverage for high-risk activities such as extreme sports or geographical restrictions on coverage outside the host country.

• Reputation:

  The reputation of the insurance company or provider offering the plan, must be researched. Reviews and feedback from other international students or expatriates regarding customer service, the claims of processing efficiency, responsiveness during emergencies and overall satisfaction with insurance coverage can be taken. One can also take the help of the study abroad consultancy for more assistance.

• Government Approval:

  Learn about whether the health insurance plan meets the conditions set by the host country's government or the educational institution. Some countries delegate specific minimum coverage amounts or types of coverage for international students, so it is crucial to ensure that the chosen study abroad health insurance plan complies with these regulations.

  Other than the aforementioned, seeking guidance from the university or study abroad consultancy and counsellors would be suitable from an expert’s point of view.

How Much Does International Student Insurance Cost?

The cost of international student insurance varies depending on the duration of study, the extent of coverage chosen, the inclusion of dependents, the countries covered by the insurance plan, and the age of the student. Overseas students should contrast different insurance options to find the best balance between cost and coverage that meets their specific needs while studying abroad.

• Period of Study:

  The duration of the study abroad program affects insurance costs. Longer periods by and large result in higher premiums.

• Coverage:

  The extent of coverage that has been chosen, including medical benefits, emergency care, and additional services like dental and vision, impacts insurance costs.

• Dependents:

  Adding dependents, such as a spouse or children, to the insurance plan increases costs due to broader coverage requirements.

• Countries Covered:

  Insurance costs vary based on the choice of destination to study abroad. Factors such as local healthcare costs and insurance regulations influence pricing. For example, healthcare in the USA is very expensive resulting in higher insurance costs.

  If there is a requirement for the insurance to cover more than one country (for example, the host country and home country) there will be typically higher premiums to account for varying healthcare costs and regulations across different countries.

• Age:

  Younger students generally pay lower premiums than older students due to perceived lower health risks.

  International students need to have the right health insurance while studying abroad. By exploring different coverage options and meeting with a study abroad consultancy, students can find an insurance plan that suits their requirements. Understanding the costs of international health insurance and seeking guidance from study abroad counsellors help students to focus on their studies without worrying about unexpected medical expenses.