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Do you cover professional athletes? I am a self-employed individual (no team) long distance triathlete.
As with all expatriates, Professional Athletes have a wide range of choice when it comes to their international health insurance coverage. However, if you are a professional athlete it is important to understand the fine print of any plan you are considering as a majority of global health insurance providers will exclude coverage for any injuries or illnesses you may receive as a consequence of your profession (whether in training or in competition).
In fact, there are only a select few insurers in the International Private Medical Insurance space who can cover pro-athletes for injuries or illnesses suffered while they are active in their sport and, unfortunately, the cost associated with these plans can exceed US$ 5,000 per year for an athlete aged 25 years old.
These plans are worldwide in nature, which can be important for a triathlete such as yourself who may have to travel overseas to compete in events – by having worldwide coverage you are protected against the costs of treatment for any injuries you may suffer anywhere in the world. But this worldwide coverage area is one reason for the high cost of coverage associated with these products as you are able to receive treatment with the doctor or hospital of your choice anywhere in the world; including high-cost locations like the USA.
Furthermore, as community rated products your claims experience will not impact you annual premium which will only increase due to your age. Coupled with a lifetime renewal guarantee, these limited options go a long way to ensuring that you are able to receive the treatment you need, and continue receiving it well into the future.
At the core of a Professional Athlete international health insurance plan will be the in-patient coverage benefit, giving you coverage for your medical costs where your treatment requires an overnight stay at a medical facility. Outpatient coverage (including Physical therapy coverage) is also included as a standard benefit, enabling you to be sure of proper post-injury management in a worst case scenario.
With an annual overall maximum benefit of US$ 10,000,000 per year, and full (100%) coverage for Private and Semi-Private Rooms, Outpatient Treatment, Cancer Treatment (including Chemotherapy), Physician and Specialist consultations, and Reconstructive surgeries, the products that are able to cover pro-athletes are extremely robust and do justify the high price tag associated with the coverage.
Additionally, if this type of coverage is something you’d like to consider there is always the possibility of including a deductible on the plan which, in some cases, can lower the annual premium by up to 25% dependent on the annual deductible amount.
Outside of full blown international health insurance, there are a range of Personal Accident Insurance options for Pro-Athletes. While not as robust as traditional health insurance plans there are more options to choose from and can mean the difference between no coverage and some coverage should a worst case situation occur.
If you would like to know more about the Professional Athlete Health Insurance options offered by CCW Global, of if you would like to obtain a free quotation and compare the various plans currently on the market, please contact us to speak to an expert health insurance broker today.
Answered on: 20 April, 2017 15:24
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