It is very important that expatriates do not leave themselves exposed to health risks by cutting insurance cover, simply to save costs in the short-term. There are ways to keep cover affordable and still safe-guard your well-being.
1. Increase the excess to cut the premium
Premiums can be reduced by up to 50% in this way. Existing members can increase their excess at renewal.
Example*: A 39 year old with a $800 excess will discount their Elite Silver premium by 20% – saving them $374.50 a year.
2. Make sure you’re not paying for cover you don’t need
Match the plan benefits and area of cover to your needs. Existing members can review their cover and downgrade their plan at renewal.
Example*: Downgrading to Essential Care Plus from Elite Silver for a 44 year old will save them 37% – that’s $604.38 a year.
Compare all the Global Health plan benefits >
3. Don’t risk losing cover by switching insurer
Take heed if you have suffered a new condition whilst on your current health plan and you are thinking of switching insurer to save costs. By taking-up a new policy your condition may be classed as a pre-existing condition and may not be covered.
Familiarise yourself with our terms and conditions on pre-existing conditions >
4. Choose an emergency plan for ultimate affordability
If you are happy to pay as you go for maternity and dental care, GP visits, prescriptions and treatment, you can opt for an Elite Bronze or Essential plan. These plans will provide cover for high-cost surgical procedures and emergency evacuation for low-cost premiums.
5. Pay a year’s premium up front
If you can afford to pay for 12 months premium up front, you will save 5% on monthly premiums. Existing members paying monthly can chose to pay annually at renewal.
Example*: A 51 year old will save $263.39 a year on the Gold plan by paying annually.
6. Tailor levels of cover for couples and families
Couples and families don’t have to choose just one level of cover for all members on the same plan. Family plan members can have a mix of plans, areas of cover and excesses all within the same health policy.
Spend time looking at what each individual needs, to identify where you can cut cover to save costs.
Example*: A couple aged 32 could apply for different plan types on the same policy where the female needs the maternity cover of Elite Gold and the male doesn’t – saving $858 a year on Elite Silver.
Example*: A family of 4, 2 adults aged 43 and 2 children, on Elite Silver could opt for different areas of cover on the same policy where one travels to the USA and the others don’t – saving $950.68 a year.
7. Make savings by providing your medical history
Our Global Health plans exclude pre-existing conditions as standard. However, expatriates can choose to be medically underwritten and save 3% on moratorium premiums.
Existing members on a moratorium plan are able to reapply to be medically underwritten but the terms and conditions of the new policy will apply.
Example*: A 38 year old will save $83 a year on a medically underwritten Gold plan.
Download our underwritten rates and application forms >