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Growth of Worldwide Medical Tourism Market

The worldwide medical tourism market is estimately growing at a rate of 25-35% annually. The high cost of health care and long wait times for some procedures still remain the major factors for growth.

Medical Tourism Insurance Companies

Medical tourism insurance companies are the latest entrants to the health tourism business. Trends in medical tourism indicate that prospective patients tend to prefer companies that sell specially tailored insurance products that aid medical travel.

Medical tourism and its insurance is a result of globalization of healthcare. A number of South East Asian and European countries are meeting the healthcare demands of developed countries, like the United States, Canada, and the United Kingdom. A rapid rise in healthcare expenses, along with cost-alert employers and insurance companies are forcing patients from the developed countries to travel abroad for affordable medical treatment. However, large insurance companies have taken heed to the current scenario and are now offering coverage to such patients. As a result, medical tourism no longer remains the choice of the under-insured or uninsured.

According to estimates by Mckinsey and Co., the rise of medical tourism has resulted in annual savings on health-related expenses that amount to nearly $20 billion. This could be among the most significant factors that has led the insurance industry to offer products that specifically cater to medical tourists.

Medical tourism insurance offers its subscribers the option of advanced treatment at affordable premiums. The list of medical tourism insurance companies includes Global Protective Solutions, Companion Global Healthcare, Seven Corners and more. These companies offer comprehensive medical tourism insurance policies, in order to ensure that medical tourism is more accessible to patients who are constrained financially, or otherwise.

The standard coverage of medical tourism insurance generally covers medical complications, trip cancellation, medical evacuation and an acute illness and injuries, which may arise during the medical trip, for the patient and traveling companion. And it is basically available for medical procedures performed outside of the residing country of the patients. The premiums and coverage limits are varied depending on the policy of each insurance company.

Medical Tourism Insurance Companies by Destinations

Featured Medical Tourism Insurance Companies Abroad

Global Protective Solutions

South Carolina, United States

Languages: English

Global Protective Solutions is a specialty travel insurance policy providing benefits for participating medical tourists or medical travelers from almost any country for accidents and complications. I...

Allianz Global Assistance

Bangkok, Thailand

Languages: English, Thai

Allianz Global Assistance has more than 35 years experience in providing medical assistance and a long history working with the best health providers and medical centres throughout Thailand. Our medic...
View all Medical Tourism Insurance Companies Abroad