The 5 Costliest Medical Emergency Claims to Be Aware of
A few weeks ago, my nephew Nathan, his wife and five-year-old son Sean, came to visit me from Baltimore, MD. I always recommend to family that they take out travel insurance before going on vacation, but somehow Nathan got busy and forgot to take care of this detail. On the last day of their visit, Sean fell down my stairs and blacked out for a minute. We called the ambulance and they went to Sick Kids to get him checked out. Thank G-d everything was ok, but this little trip cost Nathan over $800!
Have You Secured Proper Travel Insurance for Your Vacation?
Even when you do the best planning for everything to go smoothly, accidents and emergencies happen. It’s easier now to get travel coverage especially if you’re young and have no health issues as most credit card companies and airlines provide coverage. However, if you have any health issues or you’re above age 60, it’s even more important to make sure you have comprehensive travel coverage that will properly protect you while you’re away.
According to TuGo Emergency Medical Insurance Providers, the top 5 costliest emergency medical claims their travelers made in the last year were:
1. Abdominal Pain
2. Heart Attack
3. Respiratory Failure
4. Car accident
( See chart below for more details on age of travelers and total cost of medical expenses)
Three important things to note:
Ages – Younger Canadians need protection too! Almost half of these large claims came from those under age 60.
Costs – Emergency medical costs are rising each year, the ones below ranged from $340,000 to over $2,000,000!
Hospital Stay – The average hospital stay is 10 days and this is extremely costly when you’re abroad.
Make sure this summer, you travel with the peace of mind that you and your family are properly protected while on vacation!
The 5 Costliest Medical Emergency Claims
Do you have questions about travel, healthcare, and insurance coverage? Contact me for a complimentary 30-minute consultation.
Aviva Abraham is a group benefits and insurance advisor at Creative Planning. She has been providing healthcare solutions for self-employed and business owners since 2010.