Health Insurance In Panama – Get Cured Without Worrying For Your Wallet

Like many visitors and retirees to Panama, I had read about how good the health care is in Panama and how affordable health insurance is. Yet, when I went to get some quotes for health insurance I was quoted fairly high prices, not that far off US prices in many cases, with lesser cover.

I recently came across a health plan that seems to be the best I have seen so far. Unfortunately it is all in Spanish, but I understand enough to get the basics. It is a PPO with just Panama coverage, and as an example the cost for a 50 year old man is less than $60 per month. The limits and co pays I think are pretty good. Anyway, if there is enough interest I may have the information translated into English for other expats to look at. Please contact us if you want more information and we can put you in touch with an English speaking rep.

Please note that there is no benefit to us by recommending this health insurance policy or company over any other, just based on our personal experiences which we are trying to pass on to other expats.

Health tourism is fast catching the attention of patients all over the globe. Panama, the serene Central American cosmopolitan country is fast emerging as the Mecca of global health tourism. All kinds of treatments – be it a cosmetic surgery in Panama or a chronic renal failure- are taken care of by qualified doctors and latest medical facilities. There are several economic reasons as well. Dollar is the country’s official currency and the airfare is affordable. Doctors treat the patients with care and respect. The treatment methodology is flawless, blessed with rapid advancement in medical technologies. Needless to emphasize, Panama has firmly established its presence on the global tourism map.

Along with the treatment facilities, health insurance in Panama is witnessing a great boom. Before going to the details about health insurance in Panama, let’s share one or two words about health insurance in general. Health insurance acts as a protective shield for you and your family from escalating financial hardships at the time of ailments. Before thinking of Panama health tourism, you should know about the four basic health insurance types.

The first type is individual medical coverage. People who are not either covered by their employer or their family get coverage under this type. Medical supplement insurance, the second type, is designed for elderly people seeking additional coverage for medical expenses that normal policies don’t cover. Hospital income insurance is the third type. This complements your main health insurance scheme, taking care of unforeseen expenditures. The last one is disability insurance, coming in several forms. Now we will know about health insurance in Panama in particular. The next eye surgery in Panama or an angioplasty treatment of any of your near and dear ones is about to be pocket-friendly once you secure suitable coverage.

There are several local insurance companies that offer health insurance in Panama at modest rates. You need to spend as little asabout 45 USD per month on an average. The plans are highly suitable. While on Panama health tourism, it is not difficult to find schemes that covers anywhere from 80% to 100% of your medical bill. If you are below 60, health insurance in Panama will have 1M USD coverage. If you are on the other side of 60, you may get coverage of up to 500,000 USD. Health insurance in Panama has co-pay plans as well. You can get coverage from anywhere between 300,000 to 500,000 USD in such plans.

Health insurance in Panama covers in-patient and out-patient treatments including medication costs. Health insurance in Panama also covers catastrophic illnesses. Neurological illnesses, chronic renal surgery, cancer, angioplasty and organ transplants are some such ailments. In most cases, the age limit for purchasing health insurance in Panama is 60. However, bowing down to growing public demand, you can even start getting covered at 74. There is another strong point in favour of health insurance in Panama. Here insurance malpractice is very low. Thus, besides considering the fascinating resorts and spas in Panama, consider it as a medical treatment destination, once your near and dear ones fall seriously ill.

For more information about health insurance in Panama or a list of recommended plans or brokers, please contact us.

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