One of our members is considering moving out of the USA .

He is considering Panama

Look at this.

Hi Dennis,

One of the biggest concerns retirees and others have about moving to another country is the quality and cost of healthcare. You’ll be pleasantly surprised at BOTH in Panama!

According to US News & World Report, “Health care in Panama is of an international standard”. Talk to any expat in Panama about their experiences with healthcare here and you will get overwhelmingly good reviews. Most of the doctors at the hospitals in Panama have been trained in the U.S. and many of them speak English as a result. Punta Pacifica Hospital in Panama City is the only hospital in Latin America affiliated with Johns Hopkins International.

A friend had to get emergency medical surgery in Panama last year. Her sister, a nurse from California, rushed over to be by her side (concerned about the hospital conditions in Latin America) and remarked that the equipment in the Panamanian hospital was more modern than the hospital she worked at back home. And the level of service was extraordinary. It’s not uncommon for a doctor in Panama to give a patient his personal cell phone number!

My own experiences have been similar. Shortly after moving to Panama I had severe ear ache and sinus pressure. I visited Dr. Chen in Boquete, who did a thorough exam and gave me antibiotics and ear drops for my infection. My “prescription” was to eat 4 kiwi every day for a week and take 1 teaspoon of local honey every day for a month. He then gave me his cell phone number to call if I experienced any other problems and the bill was all of $10!

Another more serious issue sent me rushing to the emergency room at Hospital Chiriqui in David. I had severe pains on my lower right side and feared that my appendix had ruptured. I was seen immediately upon arrival. Blood and urine tests were taken and an IV was started with pain medication. A surgeon was called in case he might be needed, and fortunately he was not. The TOTAL cost for the emergency room visit including lab tests was $47.50. The standby surgeon was an additional $75. I was in so much pain I forgot to use my insurance card!

I bet your co-pay would be more than that for an emergency room visit!

I have had two eye surgeries in Panama. The hospital was spotless. The doctor was the best in Panama. And I did not pay a penny because the doctor’s office filed with my insurance. I have been very pleased with the results.

Once you get your residency Visa, you can use the public hospitals. many are state-of-the-art hospitals! There is no monthly fee. A doctor visit is $2. A specialist, like a cardiologist, is $5.

If you see a doctor at a private clinic or private hospital, you’ll pay about $15 for a general doctor or $50 for a specialist.

Because the cost of medical care in Panama is so affordable, many expats choose to “self-insure”, meaning they simply pay for the services they use and don’t buy health insurance.

You can get health insurance which covers you only in Panama or get international health insurance which will cover you anywhere in the world.

The cost of health insurance in Panama is also very inexpensive. There are a wide variety of plans available for expats and I go over these options in more detail during my Panama Relocation Tours.

The international health insurance plan I have costs $2200 per year with a $500 deductible. It covers me in any country, at any hospital, and with any doctor. Yes, I’m even covered in the United States and Canada. I know people back in the U.S. who are retired and pay that price for insurance for ONE Month!

WARNING: Do NOT buy health insurance through an insurance broker in Panama. You will save 30-40% if you buy insurance directly from the insurance company. I discovered this when I was getting prices for insurance.

To reduce your costs, you can get insurance which will cover you only in Panama. There is also a medical reimbursement plan which covers about 85% of your costs. My 66 year old neighbor has this plan. It costs her $82 per month. There is no age restriction and they even cover preexisting conditions after the first year.

Most of the international health insurance plans have an age restriction. You can sign up with them until you are 75 years old.

If you are already 75 or close, you will need to go with one of the local plans which do not have an age restriction. There are several to select from.

Make sure you get insurance directly from the company instead of using a broker. Otherwise, you will pay 30-50% more for your insurance premium.

As in most countries, there is no shortage of pharmacies in Panama. Many drugs are available over the counter in Panama which would require a prescription in North America or the UK.

If you have a Residency Visa, you will receive 20% off the price for a doctor visit and 10% off prescriptions!

Affordable healthcare and top notch medical services are one of the biggest money savers and benefits to retirement in Panama!

Click here to check out another article I wrote about Health care costs and medical emergencies in Panama.

Is Panama sounding better and better? Come check it out! You don’t know what you’re missing!

Join us for a Panama Relocation Tour this year.