For those unaware of the practice, medical trave is where a person travels to a foreign destination for medical treatment and combines it with some rest and recreation. There are many reasons why someone would want to go abroad for treatment. This includes non-availability of certain treatments, and avoiding delays or the heavy cost of surgeries (elective or otherwise).
There is a rush of destinations all over the world trying to capitalize on the demand for cheap overseas health care. But as of now, only a few countries, such as India, Thailand, Costa Rica, Brazil and Singapore have managed to do so. There are also a few other countries that offer medical care or treatment in very specific categories.
The aforementioned surgeries can be elective or essential. Some large hospitals are capable of everything from transplant surgery to heart treatments and knee and hip replacements. On another level, many tourists to these countries opt to go under the knife for things like dental crowns, tummy tucks or face lifts.
Either way, what really makes it so popular is the potential to save on health care costs. The hospitals, medical equipment and the doctors are usually on par or above Western standards and the costs are stunningly low – 20% of what the same treatment would cost in America. Even after tacking on all the lodging, meals, airfare and other costs, it still works out a whole lot cheaper than US or European costs. To be noted that the cost includes a post-surgical vacation stay in a luxury resort for recuperation.
On the other hand, tens of millions in the US are suffering from insufficient coverage on employer paid health plans while not being able to afford to pay for additional coverage. In Canada and Europe, the issue is not cost but of being stuck in a system with long delays and bureaucratic hassles. This is why it is no big surprise that medical travel insurance is growing into a huge industry worth many billions of dollars every year.
There were 750,000 American medical tourists in 2007. Now, there are 1.6 million every year and the number is growing. A recent survey found that a full 60% of all Americans wouldn’t mind going overseas for treatment if it saved money. To be noted that overseas also includes Mexico and other destinations in the Americas like Costa Rica.
Any which you look at it, overseas medical insurance as an industry is booming in all these countries. Tour companies have arrangements with hospitals, and patients are offered packages that include travel, medical care and all other aspects involved. Those in need of advice or help when they arrive even have a personal guide on hand to sort out any issues that may arise.
There are certain issues to be faced, such as choice of destination, travel provider and the actual hospital. A little bit of research online and a few calls should clarify all this. Make sure to find out exactly what kind of treatment and pre and post surgery services a specific hospital is capable of and willing to provide.
In summary, travel medical insurance or travel medical insurance is not everybody’s cup of tea. It takes a bit of courage to actually go through with it. But for those willing to do so, there are huge benefits in terms of savings in health care related costs and instant availability of major surgeries or treatments.