Health Insurance Cost And Plans
Health insurance premiums have been on the gradual rise in Mexico over the past couple of years. Experts attribute this to the higher costs of medicine and hospital fees, as well as the improved cost of living. As such, employer-sponsored coverage through IMSS is a popular choice throughout the country. If youre not able to get coverage through your job, its important to shop around and closely compare plans in order to choose one that suits you and your familys needs.
Live In Mexico Receive Healthcare In The Us
Those retirees who live right across the border, such as in the Baja California area, often choose to enjoy the lower cost of living in Mexico while keeping their US health insurance and travelling to the US to receive their regular check-ups and scheduled surgeries.
Unfortunately, Medicare does not cover American citizens abroad, and as such, you should not count on it to cover your medical costs while you enjoy your retirement in sunny Mexico.
With the price of visiting a general practitioner in Mexico at approximately $20 USD, and diagnostic tests costing about 30% less than in the US, many expat retirees choose to pay these expenses out of pocket.
However, costs can quickly add up for more complicated procedures, as certain healthcare facilities in areas with large international tourist or expat populations have been known to inflate medical charges.
Temporary Health Insurance For Companies In Mexico
If youre only planning to be in Mexico temporarily, you can check out some companies that offer short-term insurance, including:
More likely, however, youll just maintain your insurance in your home country and supplement it with travel insurance. Travel insurance will help you cover costs if theres an emergency and even help you get home if something goes wrong, but it wont cover routine doctors visits or non-emergency vision or dental.
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Population Percentage Covered By Health Insurance
Mexico has several health Insurance companies offering monthly premiums and private medical coverage. In the awful situation that you or a family member falls ill or is critically injured, the medical company moves in to cover all or some portion of your expenses. While its not technically illegal to not carry insurance in Mexico, its frowned upon to not be insured.
Mexico Health Insurance Options For Expats
Expats in Mexico have the following health insurance options:
- Public health insurance . All employed expats are enrolled under the IMSS scheme. Additional private health insurance is optional.
- Private health insurance:
- Local: You buy private health insurance for a local company in Mexico, but you will not be covered if you decide to go back to the US for a visit or if you travel abroad.
- International: You can compare and purchase Mexico health insurance online from Insubuy or International Citizens Insurance. You are covered in Mexico, the US, and worldwide, depending on the policy.
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Factors That Impact Health Insurance Rates
For a particular health insurance plan, the cost of coverage is determined by certain factors that have been set by law. States can limit the degree to which these factors impact your rates: For instance, some states like California and New York don’t allow the cost of health insurance to differ based on tobacco use.
- Age: The health care cost per person covered by a policy will be set according to their age, with rates increasing as the individual gets older. Children up to the age of 14 will cost a flat rate to add to a health plan, but premiums typically increase annually beginning at age 15.
- Where you live: Health insurance companies determine the set of policies offered and the cost of coverage based on the state and county you live in. So a resident of Miami-Dade County in southern Florida, for instance, may pay lower rates for the same policy than a resident of Jackson County, in the Florida Panhandle.
- Smoking/tobacco use: If you smoke, you could pay up to 50% higher rates for health insurance, though the maximum increase is determined by the state.
- Number of people insured: The total cost of a health plan is set according to the number of people covered by it, as well as each person’s age and possibly their tobacco use. For example, a family of three, with two adults and a child, would pay a much higher monthly health insurance premium than an individual.
A Higher Standard Of Care
With better facilities and shorter waiting times, the private health care system is an attractive option for higher wage earners, who pay for a guaranteed level of service through private health insurance. This includes access to private doctors , private hospitals and clinics.
According to World Health Organization figures, Mexicos health care system is ranked as 61st in the world, out of 191 member states. The country has two physicians per 1,000 population and spends 6.3% of its GDP on health care .
The quality of care and range of services offered by Mexican hospitals and clinics is generally good, and Mexican private hospitals offering specialist, elective dentistry and plastic surgery services are becoming increasingly popular with American health tourists. Keen to take advantage of the far lower cost of such procedures compared to the U.S., they often pay just 2030% of the cost of the same procedures in their home country.
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Average Cost Of Living In Popular Mexican Cities
The most expensive cities in Mexico are Los Cabos, Cancun, and Mexico city, while Oaxaca and La Paz are among the most affordable cities to live in the country.
Most expats reside in these five cities, but a larger percentage of the expats are in Tijuana because the area borders California. Therefore, they can enjoy a lower cost of living nearer to the U.S.
Here is a breakdown of the average living costs including rent for one and three-bedroom houses in these cities.
Overview Of The Healthcare System In Mexico
The Mexican healthcare system works at three levels. The first level or the lowest level is a limited coverage system that caters to unemployed Mexicans. Expats wont need to access this level. The second level is a national healthcare program for the public sector . This program is funded in equal proportion by employees and their employers. The top-level include healthcare assistance from private hospitals and clinics.
Expats and travelers can further reduce their hospital and other medical expenses by buying a comprehensive health insurance cover.
With the Mexican healthcare system being more affordable than the healthcare system in the United States, many Americans often come to Mexico to undergo treatment. Most of these individuals do not have insurance, so they find healthcare in Mexico a better option.
Public Healthcare in Mexico
A majority of Mexicans depend on the public healthcare system since it is affordable and very good at the same time. However, most of the public hospitals are based in the cities. People residing in the rural areas have to travel to these cities to avail treatment for critical health issues. Moreover, since so many people need medical help from a limited number of hospitals, there are always long queues outside these hospitals.
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You Will Be Amazed At The Excellent Health Care In Mexico Options
For most of us Boomers Health Care is a very important consideration. There are many aspects to Health Care from Tourista to major surgery, dental, natural medicine, private insurance to the National Medical System, prescription drugs and many items in between. Its a big topic and a very important one.
If you havent spent much time in Mexico, this could be one of your major concerns. It should not be, especially if you are considering living near one of the major cities or tourist destinations.
There are excellent facilities, doctors, specialists and medical staff in Mexico and a major benefit is that they are readily available . Many of the doctors speak English and often have taken some training in the United States or Europe.
Having lived in Lake Chapala, Mexico since 1995 we have had a lot of exposure, both personally and through the many Focus people we have brought to this area and gotten to know since we moved here. There are many, many inspiring stories of personal medical experiences.
Instituto Mexicano Del Seguro Social
IMSS is a health insurance program for citizens or residents who are formally employed in Mexico.
Expat retirees often dont fall under this category however, they can sign up for around 200 400 USD per year.
Under the service, patients will get extensive healthcare in the public system. It is worth noting that the level of care will largely depend on the hospital and even the doctor you see, and the wait times are generally long.
As a general rule, healthcare in Mexican public facilities can rarely be accessed in English.
If you dont speak Spanish, you may consider getting private coverage to supplement the local Mexican healthcare you are entitled to.
Public healthcare in Mexico does have a decent reputation in terms of actual medical care, but be aware that some hospitals charge in advance of treatment.
Expat retirees should plan ahead for emergency medical costs, even if significantly lower than in the US. While a local insurance program can cover immediate care, a global health insurance plan can offer more robust care which, as a retiree, you need.
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Private Health Care Options
Public Health Care Options
Or join one of the National Government Programs There are two health care systems here in Mexico. IMSS & Seguro Popular see below. There two Health Care in Mexico Coverage Systems are both available to foreigners living in Mexico, under any immigration status except an FMT .
Average Cost Of Health Insurance
One of the primary factors in your individual health insurance costs is your location, as prices will vary depending on the state and county in which you live. In this first table, we look at health insurance premiums for 2022 and how they differ by state.
Policy premiums are for a 40-year-old applicant on a silver plan.
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What To Look For In Health Insurance In Mexico
Its not the same in all countries so in case you arent used to Mexican insurance, here are the main things to make choices on:
Quality And Cost Of Healthcare Provision
Cost estimates given to ITIJ by Isabelle Moins, Chief Executive Officer of April International Care France, indicate that in Mexicos private health sector, a GP consultation is likely to be around M$1,200 , a specialist consultation slightly more, a caesarean section delivery may cost about M$120,000 , and an appendectomy may cost up to M$200,000 .
While health professionals in Mexico are generally well qualified and their expertise high, the medical equipment and quality of health facilities are not always the most consistent around the country, particularly in the public sector, where the standards of comfort and equipment are uneven. The best-equipped facilities are concentrated in the major cities and often belong to the private sector.
The public sector, whose care is fully covered by the mandatory health insurance system, is also very popular with the local population, and as such its wait times can be very long.
While many high value-added establishments are available in the major cities, they are rarer and often less well equipped in other parts of the country. In the event of an accident, as well as for scheduled treatments, travel to one of the main Mexican cities is therefore highly recommended. In order to overcome the limitations of the Mexican health system, the vast majority of expats take out supplementary health insurance.
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Healthcare In Mexico: A Guide To The Mexican Healthcare System
While healthcare and insurance in Mexico can seem tough to grasp, in reality the countrys private and public health programs are highly accessible for citizens and residents alike. More importantly, the quality of healthcare is high, and likelihood of finding a doctor who can treat you in your native language is greatly increased thanks to the significant number of Mexican doctors who go to medical school in the US and Europe.
This guide will look at the different health care services, the various medical coverage options available, and how theyre provided for each patient.
Improving Mexicos Health System
In spite of Mexicos success in achieving universal health coverage, the OECD report outlines several areas that still need improvement.
One problem is that care is provided by a number of social security institutes that are not connected. If Mexicans lose their jobs, they may have to switch doctors, which disrupts the continuity of their care.
This also happens in the United States, where private health insurance as well as Medicare and Medicaid have preferred provider networks. If you switch insurance, you may either have to switch doctors or pay more to keep going to the one youve had for years.
Mexicos investment in its healthcare system is also on the low side, although it is increasing. In 2014 Mexico spent 3.3 percent of its gross domestic product on healthcare, up from 2.4 percent in 2003.
In 2015, the United States spent 17 percent of its GDP on healthcare, according to the Centers for Medicare and Medicaid Services . Medicaid accounted for 17 percent of this total.
More money, though, doesnt always mean better results.
The United States spends more per person on healthcare than every other country in the world, but it still has a lower life expectancy than some lower-spending countries.
Even with the introduction of Seguro Popular, the OECD reports that overall out-of-pocket spending on health services in Mexico remains high 45 percent. For families, this translates to 4 percent of their household expenses.
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Are Health Insurance Premiums Tax
You can deduct medical expenses including health insurance premiums that you pay for yourself, your spouse, or your dependants. The expenses must have been paid during the 12 months ending in the tax year for which you are filing the return and have been paid to a licensed healthcare professional for medical or dental services.
The amount of expenses have to be above 3% of your net income. You will need to claim them on both your federal and Quebec return.
We always recommend consulting a tax advisor when it comes to tax-related questions.
Whats The Average Cost Of Health Insurance
For those enrolling in IMSS coverage, you can expect a yearly fee of the equivalent of about US$400, which must be renewed annually. Deductibles aren’t paid annually, but rather by diagnosis. For accident-related fees, the deductible is typically US$250. A non-accidental deductible costs on average US$800.
Private insurance costs can vary, but on average insured expats would pay approximately US$1,700 per year, with a deductible of US$5,000. If youre enrolling in private coverage prior to arriving in Mexico and need to make payments overseas, you can save on fees by using Wise to reduce transfer costs and make sure youre getting the real exchange rate. Most banks and transfer services add something called a spread – a markup of an average of 4-5% to the exchange rate – which means you could be paying far more than you need to. Wise, on the other hand, gives you the real exchange rate – the same on you find on Google. Meaning you can save a lot in comparison when you send money abroad.
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Private Mexican Health Insurance: Ample Coverage At Affordable Cost
According to the Huffington Post, several countries feature private insurance services with wider coverage for lower cost than insurance enterprises in USA. Here, TYT brings you the review about Mexicos insurance services.
When I moved to Mexico, one piece of emotional baggage I left behind in the U.S. was worry over the cost of healthcare, says International Living Mexico Editor Glynna Prentice.
Though private healthcare in Mexico is a fraction of the U.S. cost, expats depending on it generally get private insurance to cover emergencies and costly procedures. GNP Seguros is Mexicos largest private health insurer. Several other companies operate in Mexico, as well, including Bupa Mexico, a subsidiary of the U.K. giant Bupa Global.
Premiums vary, depending on your age, the coverage you choose, and your deductible. But expect to pay on average anywhere from about $1,000 to $3,000 a year for a policy. You can even get international coverage for emergencies as part of your policy, or as a rider to it. If you expect to travel frequently outside Mexico, or to visit family back in the U.S. or Canada, its worth asking about this.
Youll need to show that youre a resident of Mexico to get an insurance policy there. Insurers will want to see proof that you live there, such as a utility bill in your name. They may even ask to see a residence visa.