Don't Let Your Parents' Trip Become a Financial Disaster
The most compelling reason to buy medical insurance is that healthcare expenses in the U.S. are very high. If your parents suddenly fall ill during the trip, and if they are covered under a plan, then insurance will take care of most of the expenses associated with the treatment, doctor’s fee, hospital visit, and prescription drugs.
Summer is the most popular season for parents to travel to the U.S. to visit their children and relatives. The warm weather permits them to enjoy themselves and create good memories. But the wrong kind of memories can be created if they decide to travel without one important piece of luggage: travel insurance.
People tend not to buy travel insurance if they feel they are not at risk. The decision whether to buy travel insurance should not be made purely on instinct. Instead of saving money, visitors can end up paying considerably more by not investing in travel medical insurance. Where parents are concerned, it’s important to be prepared for any medical emergency.
The most compelling reason to buy medical insurance is that healthcare expenses in the U.S. are very high. If your parents suddenly fall ill during the trip, and if they are covered under a plan, then insurance will take care of most of the expenses associated with the treatment, doctor’s fee, hospital visit, and prescription drugs. In the absence of any medical coverage, you or your parents are financially liable for the bills, which can run into tens of thousands of dollars.
Parents can buy travel insurance either from their home country or the U.S. It is generally recommended that their beneficiaries buy their travel medical insurance from a reputed company in the U.S. that offers an insurance plan best-suited to their needs. Travel medical insurance purchased from the U.S. has many advantages: These plans are widely accepted in the U.S., with some plans having Preferred Provider Organization (PPO) network coverage; the claims process is much faster as the plans are U.S.-based; and you do not have to pay the medical bills upfront. Besides, if you have any questions or doubts, you can access the 24-hour customer service in the same time zone.
When you set out to buy travel insurance from the U.S., you will find that there is no dearth of insurance companies providing competitive rates for travel insurance. But the plans may vary from one insurance provider to another. How do you solve the quandary of “which plan?” and “which provider?” Do some online research. You’ll find that many companies provide e-policies that can be bought from anywhere in the world without requiring any medical exams. The internet is a good way of comparing insurance quotes, researching insurance companies evaluating various plans, assessing the advantages and disadvantages of the plans, comparing the prices, and buying your preferred policy.
For most buyers, an important question is how much to pay for medical insurance. The health insurance premium depends on various factors such as age and general health of the visitor, duration of stay, type of coverage, and destination. Preexisting conditions are not covered under most of these plans, although a few companies do cover acute onset of preexisting conditions.
Buying medical insurance from a reputable and reliable company in the U.S. should be an essential part of your parent’s travel plans. The company should allow you to compare various plans based on individual factors like medical history, age of the beneficiaries, and length of their stay. The companies should also provide the option to buy and renew plans online.
Your parents decided to visit the U.S. to relax and enjoy some time with you, not to fret over healthcare costs. You can put them at ease by investing in good medical travel insurance.
This article is the copyright of VisitorsCoverage.com, an online platform to get quotes, compare plans, and buy travel insurance that best suits your needs. For more information visit our website: www.Vistorscoverage.com or call 1-866-384-9104.
| Moneywise is hosted by Rajesh Jyotishi with Shalin Financial Services, Inc. Rajesh is an investment advisor representative of Resource Horizons Group, L.L.C., a registered broker-dealer, and a member FINRA/SIPC. Advisory services are offered through Resource Horizons Investment Advisory. Rajesh has been in the insurance, investments, and financial planning field since 1991. He can be reached at 770- 451-1932, ext. 101 or at RJ@shalinfinancial.com. |
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