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							International Coverage: International Expatriate Benefit Plans                                     Page 1 of 3




                                                          International Coverage

                                                          International Expatriate
                                                          Benefit Plans
                                                          By David G. Tompkins, BA, CLU




                                                          While working or living offshore, North American ex
                                                          exposed to health risks equal to or greater than tho
    FEATURE ARTICLES                                      However, they do not have the benefit of their Can
                                                          government health care system or American privat
    Raise Your Cultural IQ                                plan. Falling ill in some far-off land is distressing en
    As international travellers,                          the worry of who is going to pay your health bills. S
    most of us have                                       bills can run into the hundreds of thousands of dolla
    experienced a measure of                              medical facilities are often reluctant to provide trea
    social uncertainty and                                receiving an ironclad promise to be paid or an actu
    discomfort when meeting                               payment. As well, if while travelling outside your of
    new business colleagues                               you happen to fall ill or injure yourself, you will requ
    or attending social                                   travel insurance or even evacuation if the facilities
    functions in a foreign                                yourself are inadequate.
    country. Louisa Nedkov’s
    book Raise Your Cultural                              Some expatriates are able to become part of the lo
    IQ is the antidote for                                health plan if they satisfy certain residency and imm
    ignorance in 22 countries                             requirements. However, such government plans ar
    of the Asia/Pacific region.                           inadequate, rife with long waiting lists and in many
    We sample Malaysia.                                   only basic medical needs. Also, what happens to y
                                                          you move, or if you want treatment in the United St
    OOPS!                                                 Canada?
    Damage Control for Non-
    Resident Tax Oversights                               Several multinational and specialty insurance comp
    Forget something? Tax                                 international medical coverage plans. Most plans c
    matters are complex at the                            (i.e., in-hospital) care and include hospital accomm
    best of times. When                                   surgeon, anesthetist and physician charges. Consu
    contemplating an                                      radiology, pathology, oncology and radiotherapy ar
    overseas move,                                        The more enhanced plans also provide coverage fo
    Canadians also have to                                outpatient charges such as: specialist fees; therapie
    face a labyrinth of                                   acupuncture, osteopathy, physiotherapy, homeopa
    unfamiliar tax rules.                                 primary consultations and primary care including a
    Seeking professional                                  of prescribed drugs. Local road ambulance is usua
    assistance prior to                                   basic plans. Home nursing and emergency dentistr
    departure is the best way                             options. These plans are called hospital plans beca
    to avoid the pitfalls.                                usually cover only in-hospital treatment.
    Meanwhile, Garry Duncan
    and Elizabeth Peck                                    For more comprehensive outpatient care there are
    provide a check list of tax                           cover the expenses of: psychiatry, organ transplant
    do’s and don’t’s.                                     rehabilitation, home nursing, childbirth, home deliv
                                                              titi           lt ti           d          i li t



http://www.canadiansresidentabroad.com/issues/spring01/article09.html                                 05/29/01
International Coverage: International Expatriate Benefit Plans                                    Page 2 of 3



                                                          practitioners consultations, eye and ear specialists,
    AIC Ltd.                                              specialists such as dietetic guidance, vaccinations,
    The Advantage of                                      analysis, X rays, scans, EKGs, hearing aids, physio
    Philosophy AIC Offshore                               chiropractor, osteopath and a certain amount of pre
    is just the latest chapter in                         Such plans are usually just over double the cost of
    the success story that is                             If you’re used to using a government-sponsored pla
    AIC Ltd., brainchild of                               Canada’s, you may want to purchase such a comp
    investment guru Michael
    Lee-Chin. “Laight Edition”                            In terms of coverage, most plans cover 100 per ce
    columnist Gordon Laight                               Others have the option for the insured to pay 20 pe
    explains how AIC’s                                    costs. Most plans have the option to include a $500
    operating principles and                              deductible which also helps lower the premium cos
    philosophy married to this
    offshore initiative provide                           All plans have the option to add emergency travel
    an attractive new                                     evacuation coverage for an extra fee. These option
    investment opportunity for                            immediate transportation from any location in the w
    non-resident Canadians                                nearest centre of medical excellence for inpatient t
    and international                                     emergency conditions. The emergency evacuation
    investors.                                            cover the cost of reasonable return fares to your ow
                                                          residence after recovery. If an expatriate dies, phys
    The Magic of Neuchâtel                                can be transported home for no charge.
    Junior College
    To be unique, one must be                             All expatriate health plans have some restrictions a
    incomparable — the sole                               Some common exclusions are for preexisting cond
    example of one’s kind, and                            prior to being insured. If you have an expatriate pla
    Neuchâtel Junior College                              you have suffered a condition that may reoccur suc
    most assuredly lives up to                            injury or cancer, you should avoid changing your co
    these criteria due to its                             exclusions such as cosmetic treatment, naturally oc
    location, its program, and                            conditions like menopause, sexually transmitted dis
    its repeated success in                               of alcohol, intentional self-inflicted injuries and the
    preparing young women                                 and riot clauses are not covered.
    and men for life.
    Neuchâtel alumna and
                                                          Most plans do not cover maternity or childbirth. Ho
    Admissions Counsellor
                                                          are a few health plans which will cover a normal or
    Brenda Castle takes us on
                                                          delivery with a waiting period of 12 months after th
    a tour.
                                                          force. Others will cover maternity if the insured bec
                                                          after becoming insured. One caution: a complicate
    DEPARTMENTS                                           very expensive to self-insure.

    From The Editor                                       The obvious determinate of an expatriate’s premiu
    Great Response!                                       age, not the sex of the applicant. Most plans have
                                                          of 5 years, with coverage available up to age 100.
                                                          in the price can be whether the expatriate wants wo
    Portfolio
                                                          coverage excluding or including the United States a
    A CIC review of Web
                                                          Because of the high price of health care in the Unit
    sources for Canadian
                                                          in Canada if you’re not insured under a governmen
    expats
                                                          for expatriate coverage including these two countrie
                                                          much as three times the cost of that without them.
    Running With The Bulls                                recommended for offshore residents who travel ba
    Running a marathon in                                 States or Canada for extended periods who would
    my clients’ shoes                                     in the optional medical evacuation plan.

    Business Class                                        Expatriates can obtain insurance information on the
    Canadian trade in the                                 including sites such as <www.expatfinancial.com>.
    E-Commerce Era                                        print! Offshore residents know that purchasing hea
                                                          a vital part of their financial security. Neglecting su
    International Coverage                                net can result in financial ruin.
    Expatriate benefit plans




http://www.canadiansresidentabroad.com/issues/spring01/article09.html                                05/29/01
International Coverage: International Expatriate Benefit Plans                                   Page 3 of 3



    Moving Right Along…
                                                          David G. Tompkins, BA, CLU runs Expat Financia
    The new Ottawa/
                                                          Financial Group Ltd., a local and international insur
    moose update
                                                          He can be contacted at: Tel. 604.351.5278 / 800.23
                                                          <tompkins@expatfinancial.com>,
    Nice Place                                            Web site <www.expatfinancial.com>.
    Retiring in Costa Rica
                                                                                                      Back to




http://www.canadiansresidentabroad.com/issues/spring01/article09.html                               05/29/01