Reimbursement in medical insurance is one of the products offered by insurers to cover health-related unexpected events, which are among the most important risks you may face throughout life. They can also be especially costly in financial terms.
For this reason, it is worth understanding the characteristics of this type of health insurance.
Reimbursement Insurance Versus Medical Network Insurance
First, it is useful to compare basic medical insurance, with a closed medical network, with reimbursement insurance.
Healthcare Assistance Insurance
The first option, basic medical insurance or healthcare assistance insurance with a medical network, gives you a specific list of doctors from which you can choose without paying an additional cost beyond what you have taken out in your insurance policy.
Reimbursement Insurance
The second option, medical reimbursement insurance, allows you to access the doctors you choose. However, depending on what you agreed when taking out the policy, you will have to pay between 80% and 100% of the cost of their services, including consultations, operations and hospitalisations, and then claim reimbursement.
Intermediate Option
Nowadays, many medical insurance policies provide a combination of both covers. You can use a closed network of healthcare professionals and, at the same time, access other professionals you are interested in by having their fees reimbursed in full or in part.
When Medical Expense Reimbursement Insurance May Be Useful
This reimbursement insurance may be suitable, for example:
- if you travel frequently and want medical cover anywhere, with travel and maintenance expenses included up to certain limits; or
- when you trust specific doctors who are not included in standard policies. From a financial perspective, it is usually more advisable for a single insured person than for an entire family.
In short, we recommend reimbursement in medical insurance if you need a high level of flexibility in your healthcare cover.
If you need more information about medical insurance, we are at your disposal.