Dream of Retiring Abroad? The Reality: Medicare Doesn’t Travel Well

[Big_Hitter]

https://www.nytimes.com/2019/07/18/...761&utm_medium=smarpshare&utm_source=linkedin

"As the number of American retirees living overseas grows, more of them are confronting choices like Ms. Schirack’s about medical care. If they were living in the United States, Medicare would generally be their coverage option. But Medicare doesn’t pay for care outside the country, except in limited circumstances."

Mods please delete if this has already been posted

 

[Bir48die]

These are the inherent costs of living abroad. My sister too lives mainly in Mexico but has a condo in the U.S. She also carries private insurance. Mexico health care costs are incredibly reasonable in comparison to the U.S.

Bottom line we cannot expect Medicare to be permanently portable to any country we take residence in.

The out of pocket costs for this procedure and rehab I thought were reasonable considering the nature of the injury.

 

[skipro33]

Well that doesn't make a lick of sense. If medical costs are cheaper in Mexico compared to USA, then I 'd think Medicare would be pushing folks to sign up and take their health care to Mexico. Why would they encourage folks to stay in a high cost country if there's cheaper alternatives?

 

[Dtail]

One of the women interviewed stated outside of being admitted to the hospital, I can probably afford it.
So if she is admitted to the hospital......

 

[NW-Bound]

Medicare does not travel well?

I thought Medicare does not travel outside the US at all. It has no passport.

Well that doesn't make a lick of sense. If medical costs are cheaper in Mexico compared to USA, then I 'd think Medicare would be pushing folks to sign up and take their health care to Mexico. Why would they encourage folks to stay in a high cost country if there's cheaper alternatives?

Well, what do US healthcare providers think about this? Their thought counts.

 

[skipro33]

Well, what do US healthcare providers think about this? Their thought counts.

Are you saying healthcare providers are in cahoots with healthcare funder Medicare? That there is no oversight on collusion?

 

[HenryD]

One of the women interviewed stated outside of being admitted to the hospital, I can probably afford it.
So if she is admitted to the hospital......

She has a private policy: "Ms. Peresman recently bought a private insurance plan with a $2,500 deductible, for which she pays about $100 a month."

 

[Teacher Terry]

Why would it be portable? My DIL’s free HC from Poland isn’t.

 

[ShokWaveRider]

UK and most of the EU is portable (at least now pre-Brexit). They can get an EHIC Card.

 

[LARS]

One of the women interviewed stated outside of being admitted to the hospital, I can probably afford it.
So if she is admitted to the hospital......

I know exactly what she is thinking.

Doubt we will ever live permit abroad for a host of reasons; however, i recently remarked to the wife if we decided we wanted to move to The Bahamas or Bermuda, for example, we could certainly afford day to day healthcare.

if you ever were in need of serious healthcare (assuming you could travel and therein lies the rub) you're only a short flight back to the States and Medicare. Guess the same could be said for Mexico though we would never live there.

 

[ShokWaveRider]

We would live in Mexico if healthcare for over 65s was not so prohibitive.

 

[ivinsfan]

We would live in Mexico if healthcare for over 65s was not so prohibitive.

What does this mean? prohibitive is a relative term..

 

[ShokWaveRider]

What does this mean? prohibitive is a relative term..

One cannot get private healthcare. Companies will not insure those over 65. That is pretty specific. Look it up you will see.

 

[ivinsfan]

One cannot get private healthcare. Companies will not insure those over 65. That is pretty specific. Look it up you will see.

It's unobtainable then not merely pricey..

 

[friar1610]

I know there are some retired military here. For active or reserve military retirees who are on Medicare A&B TRICARE generally serves as a supplemental policy. But TRiCARE is, in fact, good overseas, subject to deductibles/co-pays. So, in such a case, it becomes primary. I believe you have to pay the bills yourself and submit them to TRICARE, so it's apparently a bit of a hassle.

 

[NW-Bound]

Are you saying healthcare providers are in cahoots with healthcare funder Medicare? That there is no oversight on collusion?

I was in jest.

No, not in cahoots, and more like the opposite.

Did the laws not prohibit Medicare from negotiating drug prices with pharma companies? Now, we are talking about spending money overseas. I am sure domestic healthcare providers will find many reasons that we should not.

On the other hand, if Medicare can and has been abused here, imagine how bad and easy it can be if we pay for overseas services. How about a foreign hospital pays you to take a vacation and let them bill Medicare for some fictitious treatments?

 

[marko]

Might depend on what country you move to.

Friend of ours lives full time in Costa Rica and claims he buys his own health insurance there for about $80 a month which covers him there. He has Medicare in case he were to come home and get sick.

 

[Alan]

UK and most of the EU is portable (at least now pre-Brexit). They can get an EHIC Card.

The UK also has reciprocal agreements with a number of countries outside of the EEA (the USA is not one of them)

https://www.nhs.uk/using-the-nhs/he...lling-outside-the-european-economic-area-eea/

 

[NYEXPAT]

One cannot get private healthcare. Companies will not insure those over 65. That is pretty specific. Look it up you will see.

They will insure you at any age as long as you apply before your 65th birthday. I bought a policy 1 month before I turned 65 in the event I do not move to the USA next year. The premiums ($100.00/mth now)subsidized by YW's workplace, go up every year and then are frozen at age 70 for life!

 

[MichaelB]

No expert here but it seems to me most health insurance around the world is locally domiciled and does not cover out of country care. The EU is not an example of extra-territorial coverage, the countries are a legal union for many things. Some coverage provides for urgent care when abroad, including some Medicare supplements.

I would imagine the basis for not including coverage abroad would be the difficulty insurers would have scrutinizing claims.

 

[Senator]

Well that doesn't make a lick of sense. If medical costs are cheaper in Mexico compared to USA, then I 'd think Medicare would be pushing folks to sign up and take their health care to Mexico. Why would they encourage folks to stay in a high cost country if there's cheaper alternatives?

How would Medicare prosecute a hospital or doctor for Medicare fraud in Mexico? Maybe the medical profession is not corrupt down there?

 

[mabuhay]

Healthcare is so much cheaper anywhere in the world but the US. Global health insurance is double the premium if you want US coverage. I have health insurance here in US but when I'm overseas in SE Asia I don't need insurance, as things are so reasonable. For example, almost any minor medical is $50 or less including the doc (US trained) and prescription. Often less than the copay would be here in the US. My knee MRI was $240. Teeth cleaned in the Philippines (modern dental clinic) for $15. Really good haircut $4. I generally get my major dental done in Thailand in state of the art clinics - gold crown $6-700 vs $1500 here, ceramic crowns about $300. I haven't been to a US dentist in several years, got sick of paying $150 for a teeth cleaning in Portland. Medical costs in the US are just outrageous.

 

[skipro33]

How would Medicare prosecute a hospital or doctor for Medicare fraud in Mexico? Maybe the medical profession is not corrupt down there?

Maybe, but at least Medicare would be cheated at a discounted rate

 

[UnrealizedPotential]

Healthcare is so much cheaper anywhere in the world but the US. Global health insurance is double the premium if you want US coverage. I have health insurance here in US but when I'm overseas in SE Asia I don't need insurance, as things are so reasonable. For example, almost any minor medical is $50 or less including the doc (US trained) and prescription. Often less than the copay would be here in the US. My knee MRI was $240. Teeth cleaned in the Philippines (modern dental clinic) for $15. Really good haircut $4. I generally get my major dental done in Thailand in state of the art clinics - gold crown $6-700 vs $1500 here, ceramic crowns about $300. I haven't been to a US dentist in several years, got sick of paying $150 for a teeth cleaning in Portland. Medical costs in the US are just outrageous.

I agree about health care being cheaper outside of the U.S. I do not know if this is universally true for all countries but in general it is absolutely true. It's one of the main factors in my decision making process to live in another country.

Just the lower cost of living in general in another country compared to the U.S. But one has to choose wisely . Health care is just one factor among many in making such a big decision of moving abroad.

 

[HenryD]

I agree about health care being cheaper outside of the U.S. I do not know if this is universally true for all countries but in general it is absolutely true. It's one of the main factors in my decision making process to live in another country.

Just the lower cost of living in general in another country compared to the U.S. But you have to choose wisely . Health care is just one factor among many in making such a big decision of moving abroad.

The cost of health insurance and cost of care are a major factor in our plan to FIRE abroad, and we are very light users of the system. We'll carry a catastrophic international plan until we settle on a country for residency, the choice of which will factor in the healthcare situation. I can't think of a country we'd consider with a worse cost vs outcome than the US.