by Neerja Singh | Destinations of the World News
In late July this year, Swiss Reinsurance company, one of the world’s largest reinsuring companies, tied up with World Medassist, a US-based medical tourism company to provide employers with the option to save on medical bills by sending employees abroad for treatment. Swiss Re is one of the nation’s largest corporate insurers, and services federal employees and large national companies.
It is the first time a major insurance company in the US has deigned to acknowledge a trend that the medical fraternity largely sniggers at. Ken Erickson, CEO of US-based Global Choice Healthcare says: “This medical tourism thing is nothing. It’s not happening. People who don’t have insurance are travelling abroad for treatment, but there is no large movement, no corporation is involved. It’s either recreation or desperation. It doesn’t count for anything.”
Sniggers and jibes aside, the fact remains that over 50 million people in the US are without insurance, and the issue is emotional enough to form a large part of the electoral agenda for both parties as the US goes to the polls in November. The irony is, the poorest who are living on state welfare are taken care of by Medicaid. Of those remaining, the luckier ones work in companies that shoulder the cost of paying the insurance premium, an average of US$5,900 per annum for a family of four. Those whose employers do not provide this facility either choose to go without insurance because they believe they are healthy, or sometimes just cannot afford it. Also, older people over 55 do not receive insurance even if they have the money. It is these two groups that make up the target market for medical tourism operators.
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