Insurance programs in the US vary in cost, features, and how they work. Since the pandemic broke out, the demand for overseas insurance among Vietnamese people settling in the US has increased. However, there are too many types of insurance that make you feel confused and hesitant in making a choice. Refer to the following article for more useful information about types of insurance abroad.

Learn about types of insurance in the US.

Overseas insurance is one of the mandatory requirements when applying for a visa to the US. However, not all types of insurance are accepted in this country.

Personal health insurance in the US (Mediclaim).

Personal health insurance (Mediclaim) is insurance purchased in the name of an individual, the insurance premium will be based on the age and insurance amount of the buyer. This type of insurance ensures the future for you and your family members against health problems.

When participating in an individual health insurance program, the insurance company will reimburse you for the actual costs incurred according to the insurance purchase cost. This compensation policy includes outpatient or inpatient treatments if you are hospitalized for more than 24 hours.

Family health insurance in the US.

Family health insurance in the US is a type of health insurance for each family member. Although each member has a separate contract with different benefits and insurance premiums, they will also enjoy different discounts depending on the insurance company’s policy.

In general, this overseas insurance program is basically the same as individual health insurance. However, the insurance amount will be enjoyed by all family members and the cost of this type of insurance is also lower than individual health insurance.

Critical Illness Insurance in the US.

Critical illness insurance does not depend on the patient’s treatment costs. This type of insurance policy will pay for medical expenses, including hospitalization and treatment of serious conditions of the patient.

All insurance companies pay for 10-12 serious critical illnesses or even more. These include cancer, heart attack, stroke, kidney failure, coronary artery surgery, heart valve replacement, aortic surgery, organ transplant, paralysis.

Hospital Daily Expense Insurance in the US.

Hospital Daily Expense Insurance is an insurance program that pays a fixed number of daily expenses for the patient when hospitalized. This insurance plan will pay for hospital bills including room charges, doctor fees, other fees depending on the number of days the insured is covered.

Standard health insurance (Arogya Sanjeevani Policy) in the US.

Standard health insurance is an insurance plan that covers basic health care needs. It allows seamless switching between insurance companies. It has only one indemnity policy that operates on a reimbursement basis.

The advantage of this type of insurance is that it is more economical than other existing insurance plans. It is a suitable option for your family as it caters to different age groups.

Covid-19 Symptom-Based Insurance (Corona Kavach Policy).

Corona Kavach Policy is an insurance policy that covers hospital bills and other expenses based on Covid-19 symptoms. Generally, this type of insurance is only available with health insurance companies and operates on a reimbursement basis, namely reimbursement of hospital bills and expenses.

Covid-19 Hospital Expenses Insurance (Corona Rakshak Policy).

Similar to Corona Kavach Policy, Corona Rakshak is a specific insurance policy that only covers hospital bills and medical expenses incurred during Covid-19 treatment. In addition, this type of insurance will pay 100% of the insurance amount to the buyer when they are hospitalized for a minimum of 72 consecutive hours with a positive diagnosis of Covid-19. This is an insurance package based on the patient’s rights.

Why is it necessary to buy insurance abroad – especially in the US?

Buying insurance abroad, especially in the US, is almost mandatory to minimize risks and save costs for the buyer. For those who come to the US, whether for tourism or short-term business trips, to the US to study or work long-term, or even settle here, having insurance abroad is extremely important. It is a protective shield that helps you adapt and better prepare for life in a new country far from Vietnam.

The US has the most modern healthcare system in the world but does not have a national healthcare system. That means US citizens, permanent residents, and people living in the US with other types of visas must pay their own expenses if they do not have insurance.

Medical facilities in the US have good service quality, but the accompanying costs are extremely high, and the cost of buying medicine is even more expensive. If you are unlucky enough to get seriously ill or have an accident, you can spend tens or hundreds of dollars on treatment. Therefore, if you intend to settle in the US for a long time, buying insurance is the first thing you need to do.

Why is health insurance important in the US?

Buying health insurance is extremely important for those who intend to settle abroad for a long time for the following reasons:

• Health insurance abroad is evidence that helps you prove to the consulate about your seriousness as well as your financial capacity.
• It helps you easily get approval and get a visa to settle abroad.
• Helps you easily negotiate and discuss documents and procedures with the insurance company.

Reduces dependence on the budget or insurance from the government of the country you want to settle in.

Helps ensure the health and life of you and your family after settling abroad.

In addition to the reasons for buying health insurance abroad, we also need to pay attention to the cost of paying for it. Let’s continue to refer to the content below!.

Is the cost of buying insurance in the US expensive?

Is the cost of buying insurance abroad expensive is a question that attracts the interest and search of many people who intend to live long-term in the US. Depending on the state and city where you live, the cost of buying health insurance is also different.

If you intend to settle in West Virginia, the cost of buying insurance that you have to pay for a year is $9,972. In Georgia, it is $3,708/year; California, it is $6,444/year; Texas, it is $6,900/year; Arkansas, it is $5,028/year…

What if you do not buy insurance in the US?

Not buying insurance abroad will not affect whether you can settle in the US or not. However, when you go to the hospital for medical treatment in this country, you will have to pay for medical examination and medicine out of pocket at a very high cost.

If you break your arm or leg, you will have to pay up to $37,500 in hospital fees for 3-4 days of hospitalization. In addition, the cost of medicine in the US is more expensive than medical examination and treatment. Therefore, if you intend to settle in the US, you should buy insurance in this country.

How to buy insurance in the US.

To buy insurance abroad, you can go to insurance companies in the US. These companies always have a network of doctors, hospitals, pharmacies and other organizations to provide customers with the most reasonable medical costs and treatment fees.

If you go to hospitals that are not in the above insurance network, it will be difficult for insurance companies to pay for your health care services or the company can only pay for part of the services in the insurance section. Therefore, to save maximum time and costs, you should go to facilities that are in the insurance network in the US.