How Much Does Travel Medical Insurance Cost?

Good news: some travel medical policies start at as little as a dollar a day! But if you’re not sure how these costs are calculated, then you’ve come to the right place.

How Cost Is Configured: The Daily Rate

Most travel medical policies charge a standard rate, applied per person and per day, that’s based on:

  • The deductible you select This is the predetermined dollar amount of eligible expenses that you must pay before your travel medical plan will begin to cover its share of your remaining eligible expenses. As you increase your deductible, your daily rate will likely decrease (and vice versa).
  • Your age (and the ages of any other travelers on your policy) — Your age determines which age group you fall into, which in turn influences your daily rate. As your age group increases, you’ll likely see an increase in your daily rate (and vice versa).
  • The maximum coverage limit you choose — This is the maximum amount your policy will pay for covered expenses. As you increase your maximum coverage limit, expect your daily rate to increase (and vice versa).

This daily rate per traveler is then multiplied by the number of covered days, resulting in a total cost-per-person. Add up each cost-per-person and voilà — you’ve got the price* of your travel medical plan!

Understand that the daily rate will vary from plan to plan, so be sure to compare coverages — not just prices. Because the daily rate is applied per person and per day, expect shorter trips and policies with fewer members to cost less, and longer trips and policies with several members to cost more.

NOTE: Additional surplus lines taxes and fees may apply to Florida residents and/or individuals traveling to Florida.

A Practical Example

Take Tokio Marine HCC - MIS Group’s Atlas Travel insurance, for example. This plan offers deductibles between $0 and $2,500 and maximum coverage limits between $50,000 and $1,000,000.

Daily rates for members are broken down into the following age groups: 18-29, 30-39, 40-49, 50-59, 60-64, 65-69, 70-79, 80+, and 14 days-17 years old.

Say you’re a 32-year-old traveler from the U.S. heading to Ireland on a 10-day vacation. You choose a $100 deductible and a $1,000,000 coverage maximum. Based on your deductible, age group (30-39), and coverage maximum, an Atlas Travel policy would assign you a daily rate of $1.56. Since you’re seeking coverage for 10 days, your total cost would be $15.60 ($1.56 per day x 10 days).

See daily rates for Atlas International® (travel medical insurance for those traveling outside the U.S.).

NOTE: Your age may limit your options when it comes to choosing a maximum coverage limit for your policy. For example, Tokio Marine HCC - MIS Group’s Atlas Travel insurance offers the following maximum coverage limits based on age group:

  • Age 69 and younger $50,000, $100,000, $200,000, $500,000, or $1,000,000.
  • Age 70 to 79 $50,000 or $100,000
  • Age 80 or older $10,000