+ What is health insurance?
Health insurance is a contract between an insurance company and an individual in which the health insurance company agrees to pay the individual´s medical bills based on the conditions of coverage & terms of the policy. In exchange, the insured pays a set amount of money — an “annual premium”.
+ What is travel insurance?
Travel insurance is a contract between an individual & insurance company to cover emergency medical costs during travel for sudden, unexpected accidents, injuries, or illnesses. Most travel plans cover very little or zero for anything related to a pre-existing condition (any prior surgeries or current medications).
+ What are pre-existing conditions?
Pre-existing conditions are directly related to your medical history. The conditions include all surgeries, medical procedures or medications you are taking.
+ I am healthy. Do I really need health insurance?
Medical emergencies in Mexico can be very expensive. If you have the misfortune of undergoing a medical emergency without insurance, it is easy to find yourself with a crippling amount of medical bills, which in Mexico will need to be paid up front at the time of service.
+ For individuals in good health, it's hard to see why health insurance might be necessary.
However, tripping on the cobble stone streets or breaking a hip could cause injuries that cost you thousands of dollars in medical bills. Although doctor´s visits are affordable, medical emergencies in Mexico are not.
+ How are health insurance premiums calculated?
Health insurance companies base their rates on the applicant´s age & sex. Premiums are calculated based on market prices, plan benefits, coverage area, as well as medical claims for all members the prior year.
+ What does it mean to have a deductible?
A deductible is the amount of member responsibility, which must be paid before the insurance can start covering medical expenses. For example, let's say that your deductible is $500 USD and you are hospitalized for pneumonia, which causes $12,000 dollars in medical costs. ... You would be responsible for the $500 USD and the insurance company would pay the rest either via direct payment to the hospital or via claim reimbursement.