Health & Protection in Monaco

Many expats are finding their ways in a small country located on the Mediterranean coastline of France called Monaco. It's no doubt that you will also entertain the idea of moving to this nation because of its glamour and promising economic status. But relocating to a different country means preparing more than just your housing, food, education of your kids and other necessities. What most expats tend to forget is to protect themselves from possible threats. Never underestimate the different types of protection an insurance cover can provide you especially if you are in a foreign country. Here are some of the essential facts that you need to know about health and protection in Monaco.

Getting Insurance

One of the initial questions that you should ask your employer upon signing your relocation contract is your medical insurance while working in Monaco. If in any case that it wasn’t discussed with you or you need to know more about your coverage, you can call the Human Resource department to get further information. If you are an entrepreneur or self-employed, ask around what fellow expat entrepreneurs are doing when it comes to securing their benefits on their own.

All your insurance products you buy in Monaco should also be accredited by the
CCAF Commision de Contrôle des Activités Financiers (Commission for the Control of Financial Activities), the local government’s sector that monitors all insurance companies operating in the country. If you have any concerns or issues regarding your employer’s insurance broker, you can contact the commission here.

You also have the option to get medical coverage from the list of international and local insurance companies in Monaco. Choosing which provider is the most important part of securing your healthcare so it’s best to talk to some of them to learn about their different policies that can suit your needs CIGNA Global is one of the international brokers in the country that provides health insurance to the expat community. You can also consider a local company such as Eurassur that offers a broad range of personal insurance services. Make sure to understand what you compare between local and international health insurance with our Global insurance guide where we address this question.

Importance of Insurance 

Some vaccines are strongly recommended for all expats entering Monaco, it is relatively the same as the ones for any urban city living. One is against Hepatitis A, which can be acquired from contaminated food or water in the country. If you are going to do a lot of travelling and outdoor activities in Monaco, it is also best that you get vaccinated against Rabies that you can get from bat bites. Violence and road traffic related injuries are also some of the reasons that require medical attention while in Monaco so no matter how beautiful the country is, never let your guards down and always be cautious.

The above mentioned might not require immediate hospitalisation or confinement, but it's better to be safe than sorry. Most expats think that getting medical insurance is a waste of money because it will just be a separate investment aside from their personal savings. But at the time of an emergency, this type of insurance can aid you without hurting your financial status. It also covers several basic health services such as physical exams and laboratories, vaccinations, physical exams and even prescriptions that can help you maintain a fit body.

Local Insurance in Monaco 

You can expect a high standard of health care when you get to Monaco. To enjoy the benefits of the public health sector, all employers and workers are required to pay their contributions to the CSM Caisses Sociales de Monaco, a state-funded health care system. As for expats, your employer should register you with the CSM as soon as you start working in Monaco and deduct 15% of your earnings which will serve as your contribution. The country also prides itself for having trained, and skilled medical staff in both of their public and private hospitals where you can assure that quality service will be given to you in a time of need. One of the state-funded hospitals in the country that has advanced medical facilities is the Princess Grace Hospital, Monaco’s largest and general hospital.

As an expat in Monaco, you can also strongly consider getting an international insurance policy because of its wider range of benefits and the portability of the plans (where will you be moving next?). It will also cover you or your dependents while travelling in different areas which might not be available for a local insurance. Also, these companies have been in the business providing security and protection to expats in various parts of the world, which means that they know exactly what you need.