Many expatriates living in Mexico were attracted by the amazing climate and friendly culture. But what about healthcare ?
You might be surprised to know that Mexico has an excellent health care system that is a model for developing countries worldwide. Mexico has been classified by International Living as the number one retirement destination in the world for two consecutive years. Interestingly, one of the reasons for the grade was so heavily tilted in favor of Mexico is the high quality of care and the opt in national insurance plan called IMSS.
U.S. citizens living in Mexico are covered by Medicare only if they travel back to the U.S. However, the IMSS is open to expatriates living in Mexico. The best part is the only plan costs $ 100 – $ 300 per person per year.
Although not strict, there are some restrictions. For example, IMSS must be in place for two years to cover some pre-existing conditions, but emergencies are covered immediately. After the second year, IMSS coverage is quite broad and includes consultations, tests, hospitalization, surgery and medication. Interestingly, prescription drugs manufactured in Mexico are about 50% less than would be expected to pay north of the border, often available for less than generic equivalents.
What does Mexico offer in the form of health care? As the health care system in Mexico is nationalized, there are financial incentives to make people well and keep it that way. The critical focus of the U.S. health system that providers of health care, insurance and pharmaceutical companies do not have that same incentive … it is more profitable to keep treating the sick.
Another common complaint is that the U.S. insurance companies seem to find ways to deny coverage of expenses. So it’s no surprise that baby boomers prefer quality, affordable health care when choosing a place to retire. Mexico’s willingness to provide low cost IMSS to foreigners is the reason that Mexico is one of the best retirement destinations in the world.
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