EXPATS CLUB

Expat insurance - Don’t go without itPresented by Ferenc Truglya, Accident & Health Underwriter

AIG Europe Limited Branch Office in Hungary

17th February 2015

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EXPATS CLUB

What we will cover today

1. Why the insurance market deals with expatriates at all?

2. What do you as an expat have to think about?

3. Who can buy an expat insurance?

4. What are the typical benefit options of an expat health insurance?

5. Further general features

6. How much does it cost?

7. Conclusion

8. Questions

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EXPATS CLUB

Why the insurance market deals with expatriates at all?

Due to globalization businesses are expanding their operations worldwide

Employees and often their families move with the company abroad

International business generates frequent executive travel and long-term

assignments between foreign locations and clients

Companies need quality solution to insure their most valuable assets - their

employees

Global business creates the demand for a specific international health insurance that

meets the needs of the expat lifestyle

Causes behind expat insurance

E

X

P

A

T

S

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EXPATS CLUB

What do you as an expat have to think about?

Not all countries around the world operate a national health system

Where healthcare system exists, foreigners often have to pay to access healthcare

services

Where there is free healthcare available to foreigners (based on governmental treaties) there

is no guarantee that the care you receive will be to the standards you are used to in your

home country

There could be a long waiting list before you can be treated

The medical treatment you need may not be available in that country

Cultural differences can make receiving medical treatment stressful

Language barriers may cause difficulties (state-run vs. private -> poor language

knowledge vs. specialized in foreign patients)

Factors to consider regarding health care

MRI 3-6 months

CT 2-5 weeks

Ultrasound 1-4 weeks

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EXPATS CLUB

What do you as an expat have to think about?Accessibility of European healthcare - Ranking of health systems - Talking numbers

Euro Health Consumer

Index 2014

(from 37 countries)

Top 10 Rank

Netherlands 1

Switzerland 2

Norway 3

Finland 4

Denmark 5

Belgium 6

Iceland 7

Luxemburg 8

Germany 9

Austria 10

Source: www.healthpowerhouse.com

Hungary & surrounding

countries

Rank

Czech Rep. 15

Slovenia 20

Slovakia 21

Croatia 24

Hungary 26

Romania 36

Bosnia Herz. 37

Factors

Patient rights

Waiting times

Outcomes of treatments

Range of services

Prevention

Pharmaceuticals deployment

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EXPATS CLUB

What do you as an expat have to think about?

Medical costs are on the rise around the world

Unexpected illness, accidents can often end up costing a lot of money

Towers Watson Global Medical Trends Survey, completed every year by 173

leading medical insurers in 58 countries, found that the cost of employee health cares

are increasing rapidly

Cost of health services - You should have deep pockets without an insurance

Global Medical Trends

Year 2012 2013 2014

Global 7.7% 7.9% 8.3%

Americas (excl.US) 9.1% 9.1% 9.7%

Asia Pacific 8.4% 8.8% 9.3%

Europe 5.3% 5.2% 5.4%

Middle East/Africa 8.8% 9.8% 10.0%Source: www.towerswatson.com

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EXPATS CLUB

Routine physician visit

$10

$11

$25

$30

$30

$38

$95

Argentina

Spain

South Africa

France

Canada

Chile

USA

Hospital cost per day

$429

$476

$665

$731

$853

$964

$979

$1 472

$4 287

Argentina

Spain

South Africa

Netherlands

France

Chile

New Zealand

Australia

USA

Appendectomy

$953

$2 245

$3 381

$3 408

$4 221

$4 498

$4 463

$4 782

$5 392

$5 467 $13 851

Argentina

Spain

South Africa

UK

Chile

Netherlands

France

Switzerland

New Zealand

Australia

USA

Normal delivery

$1 188

$2 035

$2 265

$2 386

$2 669

$2 641

$2 992

$3 541

$4 039

$6 846

$9 775

Argentina

South Africa

Spain

New Zealand

Netherlands

UK

Chile

France

Switzerland

Australia

USA

Average medical service prices from public & private sectors

Source: Comparative Price Report by International Federation of Health Plans, www.ifhp.com (Prices in 2012)

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EXPATS CLUB

Who can buy an expat insurance?Target expat groups

Corporate employeesInternational Students &

Schools

Governments (diplomats,

employees of embassies)

Individual expatriates

FOR

NGOs & Non-Profit

organisations

Special areas (overseas

retired, intern. athletes &

actors, high risk areas)

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EXPATS CLUB

What are the typical benefit options of an expat health insurance?Core Plan & Optionals

Optionals

Pers. accident

Dental & Vision

Pers. property

Leisure travel

In-patient Hospital

cash

Out-patient Emergency

medical

transport

Private

nursing

Maternity &

Childbirth

Cancer

treatment

Organ

transplant

Mental

disorders

AIDS/HIV Emergency

dental

Emergency

vision

Assistance

over phone

Political

evacuation

Third party

liability

Legal

assistance

Core

Benefits

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EXPATS CLUB

In-patient & Out-patient benefitsWide range of covered services

Out-patient

In-patient

Physician and specialist consultations

Physiotherapy costs

Prescribed medicines and medical aids

Medical imaging, diagnostic and laboratory tests

Preventive care and examinations

Complementary medicine: physiotherapist, chiropractor,

acupuncturist, bonesetter, osteopath, homoeopath or Chinese

medicine practitioner

Private room including nursing care

Parental accommodation

Intensive care

All medical imaging, diagnostic and laboratory tests

All physician fees, including anesthetist, surgeon, radiologist,

physiotherapist and pathologist

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EXPATS CLUB

Further general featuresThere are more inside the box

24/7 phone

assistanceMulti-lingual phone assistance

Internet

services

Manage personal details, Send claim request online, Search for

medical provider per county, per city and per specialist

Network of

medical

providers

Wordwide network of contracted medical providers

Option to choose not contracted medical provider as well

Cashless

settlement

Cashless settlement (direct billing/reimbursement – insurer pays the

medical bills directly to the provider)

Pre-ex medical

conditionsPre-existing medical conditions can be covered as well

No medical

questionsIn most cases there are no medical questions for enrolments

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EXPATS CLUB

How much does it cost?It depends. Always value for money

On average

1000-2500 USD/

insured/year

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EXPATS CLUB

ConclusionWhy pay for an international health insurance? It’s all about certainty.

1. Reduce financial risk

No more out of pocket medical

expenses

Good insurance literally saves you

from bankruptcy

2. Receive world class treatment

Having an international health

insurance policy provides you

access to the best medical

services

3. Worry less

If the worst happens, you will have

the peace of mind knowing that

your and your family health is

covered

4. Be healthier

Regular health checks are a

common feature of international

health policies. Prevention!

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EXPATS CLUB

Ferenc Truglya

Mail: ferenc.truglya@aig.com

Mobile: +36 30 445 5772

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