I've just been to France and Spain for the summer. The french embassy required me to buy a health insurance that covered at least 30,000 euros in health attention. For the one I bought (in Mexico where I live) I payed $190 USD (about $10USD a day). You can get it from a Travel Agency or an Insurance Company. Just be sure to have your policy on hand before you leave.
Besides medical attention mine covered in case the logagge gets lost, or if I missed a flight.