With all of us managing the impact COVID has had in our day-to-day lives, there are still lingering risks and uncertainties in traveling today compared with traveling in the pre-pandemic years. For example, not all travel destinations are equal when it comes to potential COVID risks as some countries are still behind the United States in containing the variants and vaccination rates are still relatively low. Additionally, no current vaccine is 100% effective, especially because newer virus variants continue to evolve. And finally, if you are traveling with younger children, they may not yet be vaccinated.

If you expect to travel more in the coming months, travel insurance could potentially provide some peace of mind and reassurance in these still uncertain times. Below we provide some food for thought as you decide whether travel insurance makes sense for you.

Evaluate Your Medical Coverage Before Traveling Abroad

Many domestic health insurance plans, including Medicare, do not cover you if you are traveling in a foreign country. A travel insurance policy may offer reimbursement for certain out-of-pocket costs related to emergency medical and dental care while traveling abroad.

Here are some steps to take to help you determine if travel insurance, in addition to your current medical insurance, is needed:

  • Evaluate your current hospitalization coverage. Determine what is covered if medical treatment is necessary while visiting your foreign country of choice, and then examine whether a travel insurance policy can enhance your coverage in case of emergency.

  • Compare your current medical coverage with coverage by a travel insurance policy when it comes to COVID-19-specific incidents as many policies have excluded pandemic-related medical needs. Questions to ask your insurance provider:

    • Does my policy make distinctions about who can be covered and where?
    • Are emergency hospitalizations covered in a foreign country?
    • Are there any exceptions in coverage due to COVID-19 or any of the specific variants of the virus?
  • Consider the potential need for medical evacuation or “medivac” services coverage that a travel insurance policy may offer. This is especially important if you expect to visit more remote destinations and may have concerns with their medical system. In the event of a medical emergency while traveling abroad, the cost of moving you to treatment in a nearby region or transporting you back to the United States can be especially expensive. You will want to ensure that the medivac service you choose offers their services for COVID-related evacuation as well. There are companies that make this process easier than others and understanding the details of your policy is what will give you the peace of mind you’re looking for.

Expect the Unexpected

Remember, things did not always go according to plan when traveling before the pandemic. Therefore, you need to be prepared for the unexpected.

For example, if you must cancel a trip unexpectedly, a travel insurance plan can potentially reimburse you for non-refundable prepaid costs. If covered, these costs might include expenses such as non-refundable airline tickets, hotels, vacation rentals, or transportation reservations.

Even if your travel plans are not cancelled, schedule delays are certainly a possibility and can be a significant and costly inconvenience. A travel insurance policy may cover expenses related to these delays, such as airline rebooking fees, and any meals, accommodations, and transportation needed should overnight stays be necessary.

Finally, if you have traveled a lot in the past, you may have experienced that dreaded moment when your luggage did not show up at the terminal. Travel insurance may also cover expenses related to lost or stolen luggage during your trip.

Talk to Modera Before You Plan Your Next Trip

At Modera, we support our clients by helping address every aspect of their financial lives, including their insurance situation.  As you think about your next trip, get in touch with your Modera team.  Not only can we assist with coordinating efforts with various insurance specialists to help ensure you have the level of protection that makes sense for you, but we would also love to hear about your upcoming plans!!


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