The short answer is yes, however this varies between travel insurance policies.  Travel Guard has policies which will reimburse within one year from the date of the injury or sickness provided initial treatment was received during the trip. Coverage is based on  reasonable and customary charges and only up to the maximum limit shown on the policy.  Some travel insurance policies only cover for as little as  7 days after your return home.

Related articles:

• If my return home is delayed beyond my scheduled return date, does my travel insurance remain in force until my return?
• For International Medical Plans, what is the difference between a Scheduled Benefit Plan and a Comprehensive Plan?
• Should I consider extending my return date to accomodate any unforseen delays in my return home?
• What is the difference between a comprehensive travel medical plan and a scheduled benefit plan?
• I have already departed from my primary place of residence. May I purchase cancellation insurance for a return trip home?