Joanne M. Says:
You say healthcare in Panama is affordable. But will I still need insurance, and what are my options?
IL Panama Editor Jessica Ramesch Says:
Hi Joanne,
Though healthcare in Panama is affordable, that doesn’t mean insurance isn’t a worthy consideration. Don’t assume you’ll be able to pay all your medical expenses out of pocket.
Paying for a doctor’s visit is one thing… serious injury or illness is quite another.
Though Panama is nowhere near as expensive as the U.S., you can still rack up thousands of dollars in treatment if you require complex procedures or long hospital stays in the upscale modern hospitals (as opposed to underfunded public hospitals).
If you are under 59, chances are you can get a good Panamanian insurance plan. These can range from $60 to $100 a month depending on age, preexisting conditions, and the level of coverage you seek.
While the local plans are reasonably priced, they may be difficult to obtain if you have major pre-existing conditions or are over 65. Maximum coverage tends to be low, but keep in mind that this reflects the low cost of healthcare here. Local companies are generally free to change rates and coverage over time.
If you’re over 65, you may need to look at international insurances such as World Wide Medical, AIG (American International Group), or Bupa International. These can range from $90 to $250 a month, depending on pre-existing conditions and the level of coverage you seek. International plans tend to offer higher maximum annual coverage—say, $1 million or more— whereas Panamanian plans can cap out at $100,000 or less.
Whereas some locally underwritten insurance plans stop coverage when you hit your 80s, international insurance plans will generally continue coverage. But for these plans it’s important to apply as early as possible, as the process becomes more difficult once you hit 70.
You can get much more information about healthcare and insurance in Panama in Chapter 9 of Escape to Panama, which is available on the IL Bookstore here.
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