Médis vs Multicare vs Allianz: which health insurance is best for expats in Portugal?

These are the three names every newcomer hears, and the comparison that matters is not the brochure. It is which hospitals and clinics near your address are in the network, and what the contract excludes.

How they differ in practice

Multicare is the health brand of Fidelidade, Portugal's largest insurer, and it carried the lowest published starting price in the March 2026 rate cards at about 30 euros a month. Its selling point is reach: a broad national network and direct billing at the big private groups, which matters most if you live outside Lisbon and Porto.

Medis is underwritten by Companhia Portuguesa de Seguros de Saude, registered with the regulator ASF under number 1131. Its own site lists Seguro de Saude from 13.12 euros a month, Seguro de Saude Familia from 40.23 and Seguro de Saude Vintage from 49.20 for older members, all personalised by age and profile. The app and the appointment booking flow are the reason people stay.

Allianz Portugal sells Allianz Saude, Allianz Saude 55 Mais and Allianz Saude Dental. The main product runs in five tiers, from a network only base plan up to a Total tier with 500,000 euros of hospitalisation cover and a separate oncology ceiling, so you choose a bundle rather than assembling components yourself. The 55 Mais tier is worth knowing about because most Portuguese insurers close new applications somewhere between ages 65 and 70.

The questions that actually decide it

1. Which hospital would you go to at 2am? Check that exact unit against each insurer's network search before you quote anything.
2. Do you need cover outside Portugal? None of these three follow you abroad on a domestic plan. If you travel constantly, price an international policy instead, from about 85 euros a month per person.
3. What is excluded? Waiting periods of 3 to 12 months are standard for most cover, and childbirth waits far longer: Medis sets 365 days for childbirth on its family plan and Multicare 500 days in its coverage table, counted from the day each person joins, so a pregnancy already under way is never covered by a new policy. Pre-existing conditions can also be permanently excluded on cheaper tiers.
4. How old is the oldest adult on the policy? Renewal increases of 8 to 15 percent a year are common after 60, and most insurers stop taking new applicants somewhere between 65 and 70, which is where Allianz's 55 Mais tier fits.

Get three quotes on the same coverage limits and the same co-payment per consultation, otherwise you are comparing nothing. If a baby is anywhere in your plans, read the maternity waiting period post before you sign anything, and our healthcare guide sets out the wider coverage checklist to use on each call.