Health & Protection in Hungary

Security and protection should always be your top priority when you’re living abroad. Thankfully, Hungary’s insurance market offers various options for expats. There are several local and regional insurance companies that have a wide range of insurance options in the country. The international insurance industry also has a large presence in Hungary. Learn more about how you can take advantage of your options and how to get your family and your assets fully covered while you’re living abroad.

Getting Insurance

As a member of the European Union, Hungary offers health insurance services to EU citizens via the European Health Insurance Card (EHIC). Foreign employees and their employers are also required to make a monthly contribution for health and employment insurance services. Though public health and social security services are quite efficient, their services can be limited, so it’s always advisable to seek private insurance that can give full coverage for you and your family.

The local insurance industry is booming in Hungary. There are also big regional insurance companies that offer services for the European continent such as Uniqa and Generali. International insurance companies are still preferred by expats in the country, mostly due to the additional expat services, and global coverage. Some of the most prominent insurance companies such as AIG and Allianz offer services in Hungary.

Importance of Insurance

Most people think that saving enough money for emergencies is enough to insure them in times of need. However, the cost for emergencies especially medical costs in a country like Hungary is usually grossly underestimated. Getting an insurance plan safeguards your money and it also gives you services that can help you live a better life while you’re abroad. You can be sure to get your money’s worth with your insurance plans if you learn how to use it properly. Insurance can be more than just a safety blanket. It can give you access to investment and retirement funds, repatriation and medical evacuation, and mortgage support. All you need to do is read the fine print and find an insurance policy that fits your lifestyle to get the most out of your expat experience abroad.

Local Insurance in Hungary

Hungary has quite an efficient public health and social security service, especially for EU citizens. If you are an EU expat, getting health services should not be very difficult as long as you have your EHIC. If you prefer private insurance service however, there are several companies that offer local and regional coverage, such as UNION Biztosító and Signal Iduna. Insurance companies have an official association in Hungary called MABISZ, also known as the Association of Hungarian Insurance Companies. It would be best if you check if the company you are signing up with is registered in this association before you buy their policy. MABISZ also offer insurance products regulated by the association.