When investing and settling in the United States, the focus is often on investment opportunities. However, one essential aspect is often neglected: the protection of health and heritage. In this article, we’ll explore how a risk management program and health insurance can be crucial in financial planning and investor well-being.
Choosing insurance should not be taken lightly, so it becomes crucial to be well-informed, especially when it comes to health and life insurance. In the United States, the complexity of the healthcare system and associated costs can be overwhelming, and that’s why we interviewed Alejandro Castillo, co-founder and CEO of Aleb International Group:
Real experience with international health insurance
Before we get into the details, let’s meet our expert. Alejandro shares his own personal experience, marked by the lack of health insurance in his family and the consequences this had on his wealth. This experience prompted him to found his insurance company 20 years ago in Mexico, with the aim of providing protection and advice on risk management to individuals, families, companies and governments.
After two decades of success in Mexico, Alejandro and his team decided to expand their business to the United States, focusing on international insurance for individuals. His company offers a wide range of insurance, from medical and life insurance to travel insurance. This expansion was made with the intention of providing financial security options to those looking to invest or undertake in a foreign country such as the United States.
How Health Insurance Works in the United States
We’ve made it clear before: In the United States, the healthcare system is complex. In addition, there is no universal public health system. There are government programs like Medicaid and CHIP that provide access to health care, but they are usually reserved for U.S. citizens or foreign nationals with proper legal documentation. Therefore, choosing international health insurance becomes essential for those who do not qualify for these programs.
How to get international health insurance
The process of obtaining international health insurance involves filling out a detailed application that includes information about the applicant’s medical history and health habits. Identification documentation and proof of address are required. Depending on the applicant’s health, additional medical studies may be necessary. The process usually takes fifteen days to a month to get a response from the insurer.
International medical insurance covers a wide range of medical expenses, including hospitalization, doctor’s fees, medications, lab tests, therapies, prosthetics, medical equipment rentals, ambulances, and more. However, there is a 30-day waiting period before coverage applies to certain pre-existing conditions.
International health insurance usually has annual deductibles that vary depending on the plan chosen. Deductibles can range from $500 to $50,000, and the choice affects the cost of the annual premium. It is recommended to select a deductible that fits the insured’s budget.
Cost of international health insurance in the United States
However, the cost of international health insurance policies will vary depending on a variety of factors, including age, country of residence, plan chosen, and deductible. Prices can start from $6,000 per person per year and increase according to specific preferences and needs.
*Data at the date of the interview
Access your international health insurance!
The importance of being adequately protected in the field of health and life insurance in the United States is undeniable. The complexity of the healthcare system and high costs make choosing the right insurance critical.
Although we do not provide these services directly, Interlink FBC can put you in touch with health insurance professionals in the United States. The experience and knowledge of experts like Alejandro Castillo can be valuable for those seeking financial security while investing in this country. Contact us!
