Moving abroad for retirement can really lower your living
expenses considerably. That way, your income can go a lot further. But
Medicare won't pay for your medical expenses that you incur off shore.
That can scare a lot of retirees from moving abroad. But is this
something that should scare you?
Assurance that you will have accessibility to proper health care is essential if you're going to move overseas. You don't want to be far from home without proper medical care especially if you require special attention. If you have pre-existing conditions then health care will be high on your list of priorities when looking at possible off-shore living locations.
The growth of medical (or health) tourism reveals that highly acceptable off-shore medical facilities are available to you. Many doctors are U.S. trained, so Americans are comfortable that they'll get the quality care they're used to.
*But how do you handle the costs for your medical care?:
That all depends on the nature of your medical needs. If you don't need constant medical attention you can always make provision for traveling back to the U.S. for Medicare-paid health care. That can influence how far away from the U.S. you choose to live. But flights are reasonable these days especially if you plan ahead for them.
You may also consider signing up with a medical insurance company. There are companies based onshore in America that offer long-term insurance abroad, as well as international insurance companies that offer coverage in multiple countries overseas.
Most medical insurance companies local to a given nation or those that offer truly international coverage have an age-related restriction on when they'll stop offering new policies. That restriction typically has an upper age limit of 75.
Of course, the older you are before signing an insurance policy with a given provider, the higher your annual premiums will tend to be because of the increasing chance of medical problems that age brings. So if you're thinking about retiring abroad look into the health insurance options available to you in your proposed new nation of residence as soon as possible.
There are two organizations to consider contacting to get more advice on insurance companies offering the most flexible and potentially suitable international medical insurance policies. They are the American Citizens Abroad and the Association of Americans Resident Abroad. You can find them using Google.
Then again, you have the option of looking to a local insurance company in the country to where you move in order to find an affordable and nation appropriate and specific policy.
Lastly, just directly paying the local doctor in some countries can be extremely cheap. But that's depends on the country you choose.
Assurance that you will have accessibility to proper health care is essential if you're going to move overseas. You don't want to be far from home without proper medical care especially if you require special attention. If you have pre-existing conditions then health care will be high on your list of priorities when looking at possible off-shore living locations.
The growth of medical (or health) tourism reveals that highly acceptable off-shore medical facilities are available to you. Many doctors are U.S. trained, so Americans are comfortable that they'll get the quality care they're used to.
*But how do you handle the costs for your medical care?:
That all depends on the nature of your medical needs. If you don't need constant medical attention you can always make provision for traveling back to the U.S. for Medicare-paid health care. That can influence how far away from the U.S. you choose to live. But flights are reasonable these days especially if you plan ahead for them.
You may also consider signing up with a medical insurance company. There are companies based onshore in America that offer long-term insurance abroad, as well as international insurance companies that offer coverage in multiple countries overseas.
Most medical insurance companies local to a given nation or those that offer truly international coverage have an age-related restriction on when they'll stop offering new policies. That restriction typically has an upper age limit of 75.
Of course, the older you are before signing an insurance policy with a given provider, the higher your annual premiums will tend to be because of the increasing chance of medical problems that age brings. So if you're thinking about retiring abroad look into the health insurance options available to you in your proposed new nation of residence as soon as possible.
There are two organizations to consider contacting to get more advice on insurance companies offering the most flexible and potentially suitable international medical insurance policies. They are the American Citizens Abroad and the Association of Americans Resident Abroad. You can find them using Google.
Then again, you have the option of looking to a local insurance company in the country to where you move in order to find an affordable and nation appropriate and specific policy.
Lastly, just directly paying the local doctor in some countries can be extremely cheap. But that's depends on the country you choose.
