Few issues are more important to older adults than healthcare. As we age, our immune systems lose strength, it’s easier to get injured, and our overall health declines. Many retirees list proximity to a hospital as a primary consideration when determining where to retire. People retiring in Panama have the same concerns. Fortunately, Panama has an excellent healthcare system with state-of-the-art hospitals and internationally trained physicians.
None of that does any good without a suitable healthcare provider. Panama has an affordable public healthcare option accessible through the Ministry of Health (MINSA) and the Social Security Fund. There is also a private sector option providing higher-quality care, but it is more expensive. The public option is open to everyone, so expats retiring in Panama have access to healthcare and emergency services regardless of their income.
Most expats use Panama’s private hospitals because they provide faster and better care. Private hospitals are also often more specialized and more comfortable. While healthcare in Panama is considerably less expensive than in the United States, expats retiring in Panama should have some form of health insurance.
Panama’s three-tiered healthcare system includes two public options and a private option. Many expats use all three tiers at one time or another, but most use the private option. Two private healthcare providers, Cigna and GeoBlue, work in Panama. Each has pros and cons, and it will be up to the retiree to determine which one best suits their needs.
Health Coverage for Retiring in Panama
Private Healthcare
Cigna offers international health insurance for Americans living abroad. The plans are comprehensive and flexible, and work in Panama and nearly 200 other countries. You can customize plans with three levels of care.
Cigna has coverage that includes worldwide and the US in one policy, or a policy that is only worldwide. There are plans with options for deductibles or cost shares to adjust the prices of premiums.
Other benefits include:
- Inpatient care pays for essential hospital stays and treatments in full.
- Mental health care for mental health conditions, disorders, and addiction.
- Global Health Assist provides full medical support for members.
- Online Customer Care makes dealing with claims and other documents less inconvenient.
GeoBlue specializes in covering expats and international travelers. Their Xplorer Health Plan provides coverage inside the US and outside. In Panama, Xplorer policyholders have access to premier doctors and hospitals. It combines worldwide healthcare benefits with online tools allowing policyholders to handle claims and payments anywhere in the world. Other benefits that make Xplorer one of the best international health plans available include:
- No waiting periods for preventative services, doctor visits, or physicals.
- Blue Cross Blue Shield PPO Network is available in the Premier plan.
- No deductible for some services.
- The insurer waives the waiting period for pre-existing conditions if you have US coverage for six months before signing up.
- Unlimited medical maximum.
- Plan cancellation is available with no fee at any time.
Public Healthcare Providers in Panama
Not everyone’s financial situation is the same. Expat retirees may take advantage of Panama’s public healthcare options. The quality of the care isn’t as high, but it could be suitable for older adults in excellent health. Here are some pros and cons to using Panama’s two public health tiers.
The following are the pros of public healthcare in Panama:
- Public health care is significantly more affordable.
- MINSA and CSS facilities are everywhere, making them more accessible than some private hospitals, especially for people needing regular services.
- Universal access is guaranteed in the Panamanian constitution to all citizens and residents, regardless of insurance status or ability to pay.
The following are the cons of public healthcare in Panama:
- Public health care services often have longer wait times, and Panama’s are no different.
- Limited resources are also an issue. That can be particularly problematic in Panama’s more rural areas.
- English-speaking staff can also be more difficult to find. Private hospitals have many doctors and nurses with US training. They are also proficient, if not fluent, in English. However, there is no guarantee that doctors or nurses will speak English in public facilities.
Your Panama Real Estate Experts
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The Agency Panama knows the best places to retire in Panama. We can help you find a community and home to match your lifestyle. Contact us today to learn how we can make your retirement truly golden.