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Deductibles
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Our MyHEALTH plans offer a number of premium saving mechanisms which you can use to help reduce the overall premium of your international health insurance coverage, including what is known as a deductible.

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What is a deductible?

Put simply, a deductible is the amount of money that you have to pay on your own behalf before your plan will kick in and start to cover eligible medical costs.

The main benefit of a deductible is that you will save money on your premium. So the larger the deductible, the greater the discount on your premium. This is because you are assuming more of the risk of having to pay for medical treatment. Other ways to save on your premiums include co-insurance, which is another option available on our MyHEALTH plans in Asia.

How do deductibles work?

The easiest way to illustrate how deductibles work would be through some simple examples.

Example 1:
If person A has a deductible of $500 and required treatment equalling $4,000, then their insurance would cover $3,500 after person A met their deductible.

Example of a $500 deductible with a treatment costing $4,000

Additionally, further treatments during the policy would be covered in full by insurance as the deductible has already been met.

Example 2:
Person B has a deductible of $2,000 and requires treatment equalling $1,000. However, later that year they require another treatment costing $5,000. In this case, person B would cover the $,1000 for the first treatment and $1,000 of the second, while the insurance would cover $4,000 of the second claim.

Example of a $2,000 deductible with multiple treatments

It’s important to keep in mind that, deductibles are defined and applied differently depending on the insurance company and plan. So it’s always important to check both the schedule of benefits and the terms and conditions of the plan to make sure you fully understand how deductibles and any other premium saving mechanism work before you buy.

Below are some ways deductibles may differ across plans.

Does the deductible apply to the plan as a whole, or to specific benefits?

In some cases, they may apply to your plan as a whole, but in other cases deductibles only apply to specific benefits. For instance, on MyHEALTH plans, deductibles are only applied to the hospitalisation and surgery benefits, so since your trips to the doctor would fall under the outpatient benefit, you would still be reimbursed for your claims instead of the amount being applied to your deductible.

How is the total deductible applied to the plan?

Typically, health insurance deductibles are applied on a per term basis, or per period of insurance. This means that once you have met your deductible, all eligible costs during the rest of that period of insurance will be covered, but that your deductible will reset at the beginning of the next period of insurance, assuming you have renewed your policy.

In some rare cases, local health plans may apply a “deductible” to every claim, however, this would usually be referred to as an excess.

How deductibles can help with your top up plan

Often times, people take out our MyHEALTH plans as a way to top up or the coverage provided by an existing health insurance policy they may have through their work or their spouse. This is to help cover eligible medical costs that the existing health plan would not have covered.

If you take a MyHEALTH plan as top up coverage, having a deductible can actually be a great benefit for you. Not only will it help lower your premium, but you can apply eligible costs covered by your existing insurance policy towards the deductible on your MyHEALTH plan, even if it is fully covered by the existing policy.

What kinds of deductibles are available?

Most health insurance plans will offer a range of deductibles to suit different people’s financial and coverage needs. The levels of deductibles offered will also vary based on your main location.

For example, our MyHEALTH plans offer international coverage, but are tailored for people living in different countries to better suit their daily healthcare needs. Therefore, different plans offer different deductible levels based on the local insurance market and healthcare system.

MyHEALTH Hong Kong MyHEALTH Singapore MyHEALTH Thailand MyHEALTH Vietnam MyHEALTH Philippines
Deductible Options:
Nil
USD 1,500
USD 5,000
USD 10,000
Learn more
Deductible Options:
Nil
SGD 2,000
SGD 5,000
10,000
Learn more
Deductible Options:
Nil
THB 16,375
THB 32,750
THB 81,875
THB 163,750
THB 327,500
Learn more
Deductible Options:
Nil
USD 500
USD 1,000
USD 2,500
USD 5,000
USD 10,000
Learn more
Deductible Options:
Nil
USD 500
USD 1,000
USD 2,500
USD 5,000
USD 10,000
Learn more

Build your own health insurance plan with or without deductibles

Looking for comprehensive international health insurance coverage in Asia? APRIL International offers a range of plans that offer international coverage to people living in Asia, providing flexible coverage to expats and local nationals alike. Learn more about our available international health insurance plans for individuals and families or contact us today to learn more. We also offer group health insurance plans for companies of every size, from SMEs to large multinationals. You can click the links below for more information on your options.

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