5 Reasons to Use a Specialist Health Insurance Broker

In the digital age, comparison websites may seem to be the best place to look for the best deal in a variety of products, such as plane tickets. Even insurers have ventured in this area, with products such as car and home insurance being available for comparison.

When it comes to private medical insurance though, comparison sites have not yet overtaken the private medical insurance sector. This week, we explain the main reasons why expats and UK residents may find easier to use a health specialist broker.

1. Ease

Using a specialist broker can make it easy for expats and UK residents. The sheer complexity of the product on offer is one of the main reasons why comparison sites do not currently provide much value in this area. 

Insurers do not have the same level of cover across the same countries. They are also likely to consider each client differently given their medical history or any that they might have pre-existing conditions. The complexities multiply even further when it comes to corporate cover and group schemes. Insurers may offer discounts and special deals to win the day. 

2. Speed

Given the wide level of choice available, finding the right private health insurance product can be time-consuming and frustrating. Since specialist brokers are used to the intricacies of private medical insurance and know the market, they are able to offer impartial, one-to-one advice based on clients' specific needs in much shorter time.

3. Customer service

Brokers place a huge importance on customer care. They do not only provide assistance to find the most suitable policy, they also offer help with paperwork as part of their service. This is specially useful when expats are based somewhere remote.

4. Less financial risk

The complexity of the product may also lead to the poor, but common decision of not buying any insurance or not taking out the most suitable policy. With the costs of healthcare on the increase globally, this would not be the best option for expats.

Take the position of a resident in any country around the world who has enjoyed free social security and is starting work abroad as an expat. They may not know the actual costs of medical treatment abroad. For example, in Hong Kong a fractured ankle can cost you £12,000. So, the search is well-worth it.

Also, it is worth pointing out that private health insurance is becoming compulsory for expatriates in some countries around the world.

5. Peace of mind

It can be hard for expats living and working away from home. Knowing that you are covered for any health related issues can ease the burden of living abroad. 

This is particularly important in the case of any unexpected events, such as road accidents, which are common in developing countries. Pollution-related health issues are also common in some countries.

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Check the Healthcare Provision in Kuwait.

Kuwait has been attracting a sizeable number of expats over the past two decades. Its sunny weather and business prospects are two of the attractions to relocate there.

However, and according to the Arabian Business, the Kuwaiti Government has reportedly approved some changes to the healthcare provision in the country recently, which affect the foreign population working there. Expats would be advised to check them, even if they are already working in the country.

For those who do not know it, the State of Kuwait is located in the Arabian peninsula, at the tip of the Persian Gulf. For centuries, it has attracted Bedouins fleeing the hot interior. Today, it is also an oasis, but of the cultural kind too. It is a modern country with good museums and good shopping opportunities and restaurants. The language spoken there is Arabic.

A striking fact is that most of the over 3 million population in Kuwait these days are expats who entered the country after 1990. They have replaced the many Kuwaitis who fled the poor economic situation in their home country. The expatriate population now accounts for about 80% of the labour force.

It may seem surpirising to talk about economic crisis in one of the 10 richest countries per capita in the world. But, with the price of the oil collapsing in the 1980s and the financially disastrous invasion of Iraq in 1990, the economy collapsed and many Kuwaitis fled their own country. These days, their economy has bounced back, no doubt helped by the fact that Kuwait is home to about 10% of the world's oil reserves and by having the biggest cargo fleet in the Arab world.

In terms of healthcare, the Government has reportedly approved a proposal to give Kuwaitis priority, which would reduce the level of care given to expats. Expats would only be able to access medical care in the afternoon. Foreign medical staff would also be working in the afternoon only.

Although there have been some voices raised against this measure, and no timeline was given for its implementation, it would be useful for expats looking to relocate or already working there to check with a specialist health insurance broker to get the full picture in terms of costs and the facilities expats would have access to in case they needed it.

Have you got any comments or want to share any experience of working in Kuwait?

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Picture credit: ELG Educational Services

Employee Mobility Increasing during 2013

Work is one of the reasons why expats relocate to or remain in another country. According to a recent report, over 70% of employers expect to increase overseas business assignments during 2013.

This commitment to employee mobility may mean that there are still opportunities for growth for both employers and expatriates, despite the volatility of the global economy. 

Some of the key trends mentioned in the report are:

• 55% of companies expect to increase the number of long-term assignments abroad.
  
• Short-term assignments increased by 52% and long-term assignments increased by 53% in 2011 and 2010.
  
• There is a rise in mobile career expats, that is professionals who move from one assignment to another, even in different countries.

• Reasons for businesses' sending staff abroad are varied. Among the top five is the provision of management and technical skills not available locally.
  Some examples are Kazakhstan or Dubai.
  
• Locations listed on the report are China, US, Brazil, UK and Australia.

Even in the digital age, companies need to look at a variety of aspects when considering overseas assignments. Housing, security and adequate international healthcare are some of the most important.

Have you got any thoughts on this?

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