Boom ahead for medical tourism

THE WORLD’S medical tourism market is likely to be worth $143.8 billion by 2022, according to a report published by Allied Market Research.

Cancer treatment would continue to be the highest revenue-generating segment throughout the forecast period, and North America and Asia-Pacific are estimated to remain the main revenue-generating regions.

The major factors that boost market growth include affordability, availability, and accessibility of quality healthcare services with support from tourism departments and local governments, but limited coverage and lengthy partial reimbursement offered by insurance companies, along with difficulties associated with cross-border travel such as language barriers and visa approval issues are likely to restrict market growth.

Geographically, North America and Asia-Pacific dominated the medical tourism market in 2015. The growth of these regions is attributed to the availability of affordable medical treatments for several disease conditions in countries such as Mexico, Thailand, Malaysia, India, and Singapore. Within Asia-Pacific, India and Malaysia are two of the fastest growing countries in the medical tourism market.

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Holidaymakers pay out £1,700 a year for unexpected medical bills

A STUDY has revealed that over-50s holidaymakers in Britain are paying out £1,700 a year for unexpected medical bills that aren’t covered by their travel insurance. 

Half of the over-50s within the study suffer from a medical condition, and 23 percent admit they fail to declare their medical conditions, which means they are not covered if they fall ill while on holiday.

The research by over-50s insurance and travel specialist Staysure also highlighted the most common misconceptions about insurance cover for medical conditions. More than 58 percent of Britons think they cannot get travel insurance cover if they have cancer, while four out of ten believe they will not find cover if they have had a stroke. One in five respondents said they had been prevented from fulfilling all their travel ambitions due medical conditions.

Chris Rolland, CEO of Staysure, said: ‘The fact that 23 percent of people who have pre-existing conditions fail to declare them when buying travel insurance is a truly shocking statistic, as it means people are putting themselves at risk of potentially extortionate medical bills should they fall ill abroad. They’re also spending money on a policy that won’t cover them for what they need – which is a false economy.

‘We urge holidaymakers to talk to their insurer and answer all questions honestly and to the best of their knowledge, declaring all conditions and any medication they’re taking. If their medical circumstances change before they travel, they should let their insurer know. While travelling with a medical condition might feel daunting, many of our customers love to achieve incredible things that they never thought possible, from climbing mountains to seeing the wonders of the world. There’s no reason for a medical condition to hold you back from achieving your travel dreams.’

Advice from Staysure on travelling with medical conditions:

1. If there is any doubt as to whether you are fit to travel, always take your doctor’s advice

2. Don't underestimate the value of a good travel insurance policy to cover your medical costs should you need treatment while you are away.

3. Declare all your pre-existing medical conditions when buying travel insurance. Claims directly arising from any pre-existing medical condition will not be covered unless you have declared all your medical history, hospital visits, and the medication you’re taking to your insurer at the point of purchase, and have them accepted by them in writing. It’s also important to tell your insurer if your medical history changes before you travel to ensure your policy is kept up to date, especially if you have annual cover.

4. You can get insured for cancellation, curtailment, and trip interruption cover which protects you against any unforeseen illness or accident that prevents you from travelling after you have booked your holiday.

5. You might need a licence for taking some medicines abroad (e.g. morphine-based pain killers). This can be obtained from your hospital, GP, or hospice. Rules vary from country to country, so you may need to contact the embassy for the country you are visiting to check.

6. Check that your insurer can help with replacing any lost medication or prescriptions while you are away.

7. Check with your doctor and the Foreign and Commonwealth Office if your destination requires vaccinations.

8. If you’re travelling in Europe, most insurers will require that you carry an EHIC card as well as your travel insurance.

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FCO urges Brits to upgrade travel insurance

WITH recent data from the Association of British Insurers (ABI) revealing that the average travel insurance medical claim rose by nearly 10% last year, Britain’s Foreign & Commonwealth Office (FCO) is highlighting the risk of taking the Getaway Gamble of travelling overseas without adequate insurance. 

Travelling abroad with inadequate cover can cost thousands of pounds if things go wrong – the average cost of a claim for medical expenses rose to £1,022 in 2014 (from £930 in 2013). This contrasts sharply with the average cost of an annual travel insurance policy, which is £32.

‘Rolling the dice, not hedging your bets and being left with a £1,022 bill is no way to start or end a holiday,’ the FCO said.

The FCO is encouraging British nationals to make travel insurance an essential part of their holiday preparation. It is advising travellers to:

· Ensure they have the level of insurance cover required for their needs and the activities they have planned

· Answer questions about their medical history fully and honestly with the insurer; they might not be covered if they need to make a claim

· Bear in mind that travel insurance policies might not cover accidents that occur when someone has not taken reasonable care or had excessive amounts of alcohol

· Carry an up-to-date European Health Insurance Card (EHIC) if travelling in the European Economic Area, in addition to valid insurance cover

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Post Office survey reveals cost of accidents abroad

AN ESTIMATED 4.4 million UK holidaymakers suffered injuries on trips abroad over the last three years at a cost of more than £1 billion, according to research by Post Office Travel Insurance.

More than a third (38%) of people who holidayed abroad in that period had an accident and 37.5% of them suffered injuries that cost an average of more than £252 each.

Animal bites and insect, jellyfish, or stingray stings were the most frequent incidents, suffered by a quarter of holidaymakers polled by the Post Office. Potentially serious problems such as food poisoning (14%) and sunstroke or severe sunburn requiring medical treatment (8%) were also commonplace.

One in 20 holidaymakers slipped or fell around swimming pools. The same proportion of people tripped or fell downstairs, suffered cuts from broken glass and other sharp objects or sustained injuries while swimming, snorkelling, or diving. Cuts and bruises together with broken or fractured limbs, shoulders and ankles were among the more common injuries.

Most injuries cost holidaymakers relatively small amounts of money. These ranged from an average of £47 for bites and stings to £118 for sunstroke or sunburn, £121 for a rental motorbike or scooter accident and £150 for a bathroom fall. But tourists not covered by travel insurance could find themselves paying much more than the average bills uncovered by the research.

It found individual injuries caused by bicycle accidents costing around £850 and of a sunburn victim paying around £1,500 for treatment. Some suffered multiple accidents costing them up to £7,500.

More accidents happened to UK holidaymakers in Spain than anywhere else, according to the poll of more than 2,000 people. Ten percent of food poisoning incidents were in Turkey.

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