This is an annual problem for those who have international health insurance. Let me give several suggestions:
- Choose a high deductible of at least $1,000. A deductible of $2,500 or $5,000 is better yet if you have some reserve money in savings. This will have a definite impact on your insurance premium.
- Choose a policy with “capped” coverages. Instead of guaranteeing an unlimited amount of money for a normal childbirth, they limit the coverage to $4,000. That is enough to cover the delivery of a baby almost anywhere in the world.
- Choose a plan with less maximum coverage. Instead of getting $1,000,000 or $5,000,000 in coverage, settle for $500,000.
- Select a short-term plan. Some short-term plans can be renewed up to three years.
- Choose a career plan that will not cover you in the USA. Then, when coming on furlough, take out a short-term plan that will cover you during your visit.
- If you need maternity, put your wife on a maternity plan and yourself and children on a non-maternity plan. This will often save $40 a month or more.
None of these are “ideal” solutions, but if you start with one of these and after a year your financial situation improves, you can then upgrade your insurance coverage. If you are putting out $200 a month now for insurance, in a couple of years bumping that up to $300 for a better plan will be easier than going from $0 for no insurance to $300 now.
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