Insurance Companies Have a Great Opportunity in Medical Travel

For Care that Chris learned about his options in Mexico and had a seamless experience from research to bookings, and from checking in at the hospital to arriving back home. Two weeks after beginning his research, Chris’ cancer was being removed using the most advanced method the world of medicine knows today.

In this case, Chris is extremely happy to have spent about ,000 in travel and accommodations when he would have spent easily over ,000 in co-payments back in Denver. Likewise, his insurance company spent about ,000 when it could have paid 80% of a ,000 surgery, or about ,000. The case is clear, the best healthcare outside of the US, complying with the same quality standards, is as inexpensive as to make paying 100% of it cheaper than paying 80% of the US cost. Although it is true that this type of policy and its 100% coverage abroad terms are not the typical health plan, it should be an eye opener for the industry. Let’s make it clear, that nobody was shoved to go abroad for surgery. Nothing illegal or looked-down-upon was done. All parties are happy (including the Mexicans involved). It is a simple case study for free markets and incentives. Perhaps insurers should inform holders of such policies that they have valuable options abroad. Perhaps all insurers should think of adding the “100% coverage abroad” feature to all policies and see how the market’s invisible hand actually lowers costs and therefore premiums. All in all, there are great opportunities abroad for insurers employing creativity the right way. The best part is that all are set to benefit: insurers, customers, and society as a whole.

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