Medical Cost Insurance
Anyone who obtains a residence permit in Iceland will automatically be covered by the National Health Insurance system in place here after they have resided here for a period of six (6) months. For those first six months, however, they must be covered by supplemental medical cost insurance (health insurance) that is valid in Iceland. According to immigration rules, this medical cost insurance must be purchased from an insurance company that is licensed to do business in Iceland – in effect, an Icelandic insurance company. The Fulbright Program provides adequate supplemental insurance coverage to its grantees, but family members are not covered by Fulbright. Therefore, if your spouse and/or child/ren will accompany you to Iceland for more than 90 days and are applying for a residence permit, you must purchase supplemental insurance coverage for them. Residence permit applications will not be considered until the Directorate of Immigration has received confirmation from an Icelandic insurance company that such a policy has been purchased in the name of the applicant.
Some of the biggest Icelandic insurance companies you might choose are Sjóvá, VÍS and TM.
Grantees should deal directly with the insurance company of their choice. The cost of insurance will vary with the applicant’s age and general health.
Please note that this insurance is only “emergency insurance”. It will not pay for minor medical issues, as there is a high deductible. If you are already insured at home, you will want to keep that insurance!