International money transfers could be needed to fund health pots

Expatriates may want to consider setting up international money transfers to help to fund their health cover.

Writing in the Daily Telegraph, journalist Peter Pallot has warned expatriates that their access to the NHS could be cut.

As the health service faces cuts to its "ballooning" budget, Mr Pallot said that expatriates may be among the first to lose access as the majority who live abroad will not have been contributing.

He cited evidence from "crackdowns on illicit health tourism" around Europe and parts of the Middle East to back up his claim.

If expatriates do find themselves without the backup of NHS access, they may want to consider other options for funding their health care.

Private insurance is one option. However, Mr Pallot suggested "pay-from-pocket private medicine" as a suitable alternative to people living in countries with good quality health services.

By setting aside the equivalent of an insurance premium in a separate bank account, people have the advantage of being able to leave their heirs the money should they have a long and healthy life, rather than giving it all to their insurer.

Click here to make an International Money transfer to Europe

Posted by Chris Barber