Travel nurses often struggle to select the appropriate health insurance plan. Due to spending much of their time traveling and in the field, choosing an effective insurance plan is of utmost importance. Although many travel nursing organizations provide health insurance as part of their benefit package, it’s essential for travelers to understand all available policies before selecting one. My Private Health Insurance has been operating since 2016 and pride themselves in offering health insurance for a travel nurse service in the insurance industry, while still providing personalized attention and an enjoyable one-on-one experience for their members.
Travel Nurse Health Insurance Options
When purchasing health insurance, there are a variety of plans from which to select. A comprehensive health plan with extra benefits such as pet coverage, retirement account options and employee assistance programs as well as benefits designed to manage mental health is often indicative of a reputable travel nursing company.
Agency-Provided Health Insurance
Nursing agencies frequently provide health insurance to nurses traveling abroad. But in certain cases, nurses themselves can select their coverage themselves. There are numerous advantages associated with selecting your organization’s plan; being hassle-free and fully covered are just two.
Select the insurance option offered by your company and be assured of uninterrupted coverage, giving you peace of mind in working with multiple agencies without being constrained by high deductibles.
If you frequently change agencies, this might not be the most practical choice as each change requires updating your policy to comply with COBRA, which can often prove too expensive and unaffordable for many employees.
Individual or Family Health Insurance
Most travel nurses are covered by either an individual health insurance policy they manage personally, or one provided through their family, that covers them during open enrollment (typically November 1st-15th December). Unfortunately, no individual healthcare plans can be enrolled outside this period, which may cause problems for some; only qualifying life events can apply outside this window (for instance:
- Having a baby
- Moving outside your plan’s coverage area
- Changing jobs
As soon as you change jobs, a 60-day enrollment period will allow you to explore health insurance markets and select one best suited to you.
Short-term Health Insurance
Short-term health insurance plans are also popular among travelers, often providing cheaper coverage than individual plans yet still offering some of their benefits. Such policies can be ideal if you are switching companies or have difficulty paying elsewhere for insurance; however, unlike individual policies these short-term ones might deny coverage due to preexisting conditions or may exclude certain medical services related to them altogether.
What About Supplemental Insurance?
An agency offering travel nursing typically includes vision and dental insurance as part of its packages, but they rarely provide regular dental or vision treatments to people choosing short-term or individual insurance plans. On the plus side, vision insurance and dental insurance tend to be less expensive than comprehensive plans – offering glasses, vision tests and dental cleaning in their coverage plans if applicable – making these additional policies optional for consumers based on personal preference; for instance if wearing glasses may prove beneficial opting for vision insurance might prove wiser.
How to Maintain Coverage Between Travel Nurse Jobs?
Nurses frequently take time off between assignments to visit family, go on longer vacations, or simply rest and recharge between jobs – one of the many advantages of becoming an experienced travel nurse. Unfortunately, this flexibility could mean losing health insurance coverage; although travel companies typically handle all the details of choosing and purchasing insurance policies for you; otherwise you must carefully consider your choices for individual coverage plans yourself.
Travel Nurse Benefits & Health Insurance
Employee benefits are mutually beneficial for employers and employees. By offering attractive employee perks that attract top talent, businesses can set themselves apart from competition while simultaneously increasing retention rates and recruiting better talent. Here we explore two benefit categories, regular benefits and outstanding benefits.
Standard Benefits
Standard benefits are perhaps the most crucial category. They cover legally mandated offerings as well as benefits applicable to all employees – for instance health insurance from employers and FMLA requirements from government.
Standout Benefits
This category encompasses extras that enhance the quality of living. Consider benefits like pet benefits and retirement account options or employee assistance programs as examples.
Our experts regularly evaluate our services to develop solutions tailored specifically for how nurses live their lives. We recognize the diverse requirements that nurses have that range from active explorations to financial advice for families; so whether you’re dependent, trail walker, or all three, we have you covered.
Health Insurance 101
Just as auto insurance protects your car, health insurance will safeguard against illness or injury; as well as preventative healthcare services! Your health insurance company may not cover all expenses; instead it shares costs evenly until reaching an out-of-pocket maximum limit; but first let’s review some key terms:
Deductible
Your health insurance deductible is the amount that must be covered before they will start covering their share. Every plan varies; hospital bills or lab tests usually count towards this threshold amount if your plan has one of $3,000 then this is how much is your responsibility until your insurer states ‘we can assist right now’
Co-Pay
A copay is similar to an insurance coverage charge but without open bar provisions; it is the fee you pay for medical services such as an annual physical. Preventive health services could even be completely covered under your policy so there may not be a co-pay involved for preventive health services.
Co-Insurance
Co-Insurance refers to the portion of medical expenses you are responsible for paying. Your copay or co-insurance payment depends on which kind of medical service it is; other considerations could be your deductible amount paid or payment history with insurance companies; you could pay 20% while they cover 80%.
Premium
Your health insurance premium is similar to paying Hulu subscription fees: it helps keep your channels current. Likewise, this cost keeps your policy active so that it remains in force and provides continued coverage.
Out-of-Pocket Maximum
An “out-of-pocket maximum” refers to the annual maximum amount you are required to pay towards health insurance in one year. This amount includes money spent on co-pays, deductibles, or co-insurance costs; once this maximum coverage amount has been reached it becomes known as “an win”.
HDHP
An HDHP (High Deductible Health Plan) is an insurance plan with the highest minimum deductible, offering lower annual limits while still offering reduced premiums – perfect for younger and healthier people who do not anticipate needing many healthcare benefits. Furthermore, HDHPs qualify individuals for tax-deferred HSA accounts.
HSA
HSAs (Health Savings Accounts) are tax-exempt accounts designed for people covered by HDHPs to save for medical expenses not covered by their HDHP. Money you deposit throughout the year in this account qualifies for reimbursement through after-tax benefits filed on personal tax returns; there may also be restrictions as per year on how much can be saved in an HSA.
