|
In This Special Issue: Just How Much Domestic Medical Coverage Goes With You When You Leave the U.S.?
Planning a pleasure trip overseas? Sending a member of your management team to work with an offshore unit? Moving one of your foreign employees from his/her country to a third country? Involved with church, student or other fraternal groups? Your children going on a student exchange or just a post-graduation walkabout? Planning to become an ex-pat after retirement?
Do you now that Medicare, most employer sponsored group health plans, and most individual health plans provide either no, or severely restricted, coverage while out of the United States? Read that fine print in the trip cancellation insurance provided by the travel company. Does it read "emergency services only" and maximum benefits in the $10,000-$20,000 range?
Would you be willing to give up all but the emergency coverage in your regular domestic health plan for two weeks or more while at home?
See frame below
|
 Yes... Medicare and Most Other U.S. Health Plans Effectively Stop at the U.S. Border
--- Beyond the Minimum Emergency Medical Insurance |
Do you know what is covered by your health plan while out of your country of citizenship? Often it is virtually nothing.
There are many reasons to want comprehensive medical coverage while traveling, whether it be for six weeks while trekking around Europe, during your dream vacation after retirement, or for a year's overseas assignment with your company. That little "emergency" medical provision in your trip cancellation insurance that came with your travel documents may fall far short of your medical needs at some point. It is a roll of the dice that many seasoned travelers won't make.
BBCG Inc. has established a brokerage relationship with IMG Global which is a managing general underwriter for Sirius International Insurance Corporation (A.M. Best: A and S&P: A-) to provide both short-term and long-term medical coverages for international travelers. We can cover most, but not all, countries of origin and destination. Product information can be reviewed, quotes requested and application/purchase can be done completely on-line for many products. For on-line services see:
BBCG has a diverse portfolio availble:
- products for embassy and consular officials outside of their home country
- products for individuals and groups coming to the U.S.
- products for individuals and groups going from the U.S. to most other countries world-wide
- products for individuals and groups going from one non-U.S. country to another non-U.S. country
- specialty products for individuals and groups of business people, students, teachers, missionaries, vessel captains/crews and others who might need more long term international coverage while away from their home country
- other special international risks which can be written on a case by case, risk-specific basis
The http://bocabenefits.com/globalmed.htm link also provides access to hard copy brochures which can be downloaded, read off-line, and application/purchase made by scanned attachments to email, regular mail or fax submission. We recommend the on-line or email methods, as opposed to hard copy, whenever possible.
Please email us at: global@bocabenefits.com or call 727.510.7138 to request additional information. Fax submissionscan be sent to 727.535.8190.
| |
About Boca Benefits Consulting Group, Inc.
BBCG, Inc. has been providing brokerage and consulting services to Florida employers since its formation in 1996. Its principal consultant, Robert W. Murphy, has 28 years of insurance carrier management and consulting experience. He holds an advanced financial degree and four of the most prestigious financial services designations in the industry (REBC, ChFC, CLU, RHU). He has been a panelist/speaker at a national conference on the future of healthcare and was a participant at a Harvard University executive program entitled "Skills for the New World of Health Care."
Please click here for additional contact information.
Please click here for a proposal request or contact by BBCG.
|
|
|
|
|
|
Government & Regulatory Issues
Possible Extension of Temporary
COBRA Under the American Recovery
& Reinvestment Act 2009
The American Recovery and Reinvestment Act became effective February 17, 2009.
The ARRA allows for eligible individuals to receive a premium subsidy from the federal government in the amount of 65% of normal COBRA premium. Eligible individuals will pay 35% of the COBRA premium to continue coverage.
Legislation introduced in the U.S. House of Representatives would extend and expand its expiring provision. Under H.R. 3930, introduced in late October by Rep. Joe Sestak, D-Pa., the subsidy would be provided for up to 15 months. In addition, those laid off from Jan. 1, 2010, through June 30, 2010 would be eligible for the subsidy.
Without an extension of the current law, employees who began collecting the subsidy on March 1, 2009 would lose it at the end of November.
The subsidy has had a dramatic effect on the percentage of eligible COBRA beneficiaries opting for coverage. Recent studies have found that the percent of laid-off employees opting for COBRA doubled to 38% after the subsidy was enacted compared with half that opt-in rate in the several months prior to the subsidy.
|
 |
|
|
