According to medical scheme Profmed, there has been a significant surge in remote working since the pandemic upended workforce dynamics across the world, and with an army of professionals now unshackled from the office, many professionals are working for international organisations and receiving their salaries in different currencies.
“These professionals saw a salary increase of up to 40% in the last year alone due to the exchange rate fluctuations, while other professionals have taken up opportunities to work abroad for longer periods of time. But increased travel brings increased risk, elevating the need for adequate travel insurance – particularly for health emergencies,” said Profmed.
The medical scheme revealed that it had seen a sharp rise in international travel from its members, noting that more professionals are travelling while working compared to pre-covid conditions, which is why it has extended its travel benefit to span 150 days rather than the previous 90 days.
Craig Comrie, CEO of Profmed Medical Scheme, said health insurance, when travelling, usually comes at a significant cost when staying for longer than 90 days as the possibility of unexpected health-related events increases the longer the stay.
“People are often more concerned with minor issues, which could be paid for out of pocket. The real benefit of South Africa in general is that even though our healthcare here feels unaffordable, we note the recent medical events that have been incurred, where even basic radiology in Italy costs the scheme almost R200 000 for a scan which in South Africa is around R 8 000. This highlights the need for proper health travel cover,” said Comrie.
He said one of the most significant benefits of health travel insurance is for medical emergencies, as accidents and illnesses can happen any time, and being in a foreign country can make it challenging to access medical care.
“With the right health travel insurance, individuals can receive medical assistance without worrying about the high costs of medical treatment. In an event of an emergency, it is critical to notify Profmed as early as possible as this allows an expert team familiar with international treatment protocols to intervene early in assisting members to get appropriate treatment at the right cost,” said Comrie.
He also said that Profmed’s travel benefit covers scholastic travellers, senior travellers, families, and individual travellers, while it includes medical evacuation, expenses, preparation, mitigation, and unlimited 24/7 assistance. From January 2022 to January 2023, Profmed recorded 181 cases of overseas claims, with 16% classified as extremely serious.
Comrie said travelling could be a rewarding experience, but true peace of mind abroad comes with the right travel insurance at your back.
“It is essential to carefully consider the coverage options and choose a plan that best suits individual needs and the availability of quality care available in the country you are visiting before embarking on a grand adventure,” he said.