Reimbursement of costs in the US

Insurance, FSA and HSA for Medical Procedures Abroad

A number of our clients asked SilaMed whether German hospitals would take insurance from their insurance companies. We will happily provide you with the information that we currently have about insurance companies. Moreover, we would like to mention some other tools like Flexible Spending Accounts (FSA) and Health Savings Accounts (HSA) that you can use to pay for your medical treatments outside the U.S.

Today, a very small number of health insurance companies in the States will reimburse you for your medical procedures performed outside the U.S. Here is a list of insurance companies that pay or are rumored to have paid for various medical procedures outside the U.S.:

• Blue Cross Blue Shield
• Aetna
• CIGNA
• Delta Dental
• United Health

Moreover, you will have to call your insurance company to find out whether it will reimburse your treatments. Every insurance company has around 50 independent “mini” companies so to speak with their own rules and regulations. For instance, depending on the state you are from, the insurance company may reimburse you for IVF treatments, but not for dental work.

As a rule, you must have PPO coverage to qualify and will also be responsible for a co-pay. Co-pay may range between twenty and forty percent. Furthermore, you may have to pay for your treatments yourself and file for reimbursement once the procedures are done. Those insurance companies that do pay for medical procedures overseas typically pay only for the surgery or the medical procedure and do not reimburse the travel and lodging expenses.
 
As we mentioned earlier, there are several tax-advantaged medical savings accounts available to taxpayers in the United States for medical reimbursement. The most common among them is Flexible Spending Account (FSA). Health Savings Accounts (HAS) are less common. You may, however, be able to pay for your overseas medical treatments with money from one of these accounts.

FSAs have become a standard benefit and are commonly offered, especially among larger employers. Recently, however, HSAs have begun to attract more attention because of their tax benefits and another important feature.

With FSAs you have to spend money in your account during the current year or lose the money. HSAs allow you to build up the account over time and invest in it. That is, because of the provision in the law. HSA enables a participant to roll over unused funds year to year.
 
If you think your insurance company may pay for your overseas medical treatments, we will be happy to support you with all the necessary documents from the German medical institutions.

Please note that SilaMed cannot provide any medical advice, diagnosis or treatment, and does not make recommendations in choosing a German medical provider – that is a decision that remains entirely up to you.

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