Contact 
Log In 
Moving to Panama can be an exciting adventure, but it requires careful planning, particularly when it comes to healthcare. If you are considering relocating to Panama, it’s essential to think about how you will manage your medical needs.
Keeping your Medicare coverage when you move overseas offers several significant advantages that can help ensure your health and well-being in your new home.
Even though Medicare does not cover you in Panama, if you have Medicare Part A & B, you can switch to a Medicare Advantage plan that covers urgent care and medical emergencies in Panama.
You can switch to a Medicare Advantage plan before or after moving to Panama.
We work with THREE Medicare Advantage for expat experts!
To get an expert Medicare Advantage agent recommendation, send an email to [email protected]
Previously, the problem with Medicare Advantage and other US insurance was that you had to prepay and then file a claim. Even though the insurance covers you in Panama, hospitals do not accept it. That was the problem!
Now, You do NOT Have to Prepay!
Since 2020, I have been working on setting it up so you do NOT have to prepay if you have a medical emergency in Panama.
I’ve heard many stories about people paying $20,000 to $40,000 for medical emergencies and then having to file a claim to be reimbursed. When I was in the hospital for nine days with COVID, I had to pay $15,000 upfront and then file a claim. It took nine months and a lot of frustration to get part of my money back.
I HAD to find a better solution for expats in Panama!
So, I traveled all over the world to visit billing companies and try to convince them to come to Panama! Finally, I discovered several billing companies that are eager to establish operations in Panama. Panama hospitals are now working with four different billing companies to file the Medicare Advantage insurance claims.
This is How It Works:
With Medicare Advantage, show your insurance card at the hospital if you have a medical emergency or need urgent care. The hospital contacts the billing company to verify your benefits. Once benefits are verified, the hospital informs the billing company of the cost of your medical procedure. The billing company issues a GOP (Guarantee of Payment) to the hospital, so you do not have to prepay.
Ideally, you should pre-register with the hospital so your insurance benefits can be verified before any urgent care or medical emergency.
If you have different U.S. insurance or Veteran benefits, you can also pre-register at the hospital so they are already aware of what your insurance covers.
The billing companies collaborate with over 4,000 insurance companies that offer coverage abroad.
Once you’ve been treated or released from the hospital, the hospital will send all your bills to the billing company, which will then file the claim. The insurance company pays the hospital directly. The hospital pays the billing company.
WHERE? Currently, these hospitals accept Medicare Advantage, US Insurance with overseas coverage, and Veteran insurance:
In David:
Hospital Chiriqui
Hospital Mae Lewis
In Panama City:
The Panama Clinic
NOTE: I make no commission if you use the Medicare Advantage experts we recommend or if you have a medical emergency and use the hospital billing company. And, I don’t make a penny if you use the billing company. I spent five years finding a solution because it was desperately needed in Panama.
Why Medicare Advantage
Switching to a Medicare Advantage plan can be particularly beneficial for US expats. These plans cover emergency care in some hospitals in Panama without requiring prepayment. This is a crucial benefit, as it ensures you can receive urgent medical attention without the stress of immediate out-of-pocket expenses.
No Age Restrictions
One of the most appealing aspects of Medicare Advantage is that it does not impose age restrictions for coverage. Unlike some international or Panama-specific insurance plans, which may deny coverage based on age, Medicare Advantage continues to provide for your healthcare needs regardless of age after you qualify. This feature is critical as healthcare needs typically increase with age.
No Preexisting Condition Restrictions
Medicare Advantage also stands out because it does not exclude coverage based on preexisting conditions. Many international and Panama insurance plans have stringent rules about preexisting conditions, which can lead to coverage denials or significantly higher premiums. With Medicare Advantage, you can rest assured that your medical history won’t be a barrier to receiving care.
Avoid Potential Denials from Other Insurance
If you rely solely on Panama or other international insurance plans, there is a risk that you might be denied coverage due to age or preexisting conditions. If you’re over 60, Panama and international health insurance will require a complete physical, an EKG, and lab work, which could reveal a condition that will cause the insurance company to deny coverage. This can leave you vulnerable and without the necessary healthcare support.
Medicare Advantage does not require a physical examination, EKG, or laboratory work. Maintaining your Medicare Advantage coverage creates a reliable safety net for yourself.
Affordable Routine Care
Medicare Advantage does not cover routine doctor visits in Panama. However, routine doctor visits in Panama are generally inexpensive, and many expats can pay out of pocket for these services without financial strain. I pay $15 to see a doctor in Panama.
Modest Cost Increases
While the cost of international insurance can increase substantially each year, Medicare Advantage typically has a very modest cost increase. This stability can make a big difference in your overall budget and provide peace of mind, knowing that your healthcare costs will remain manageable.
For example, I previously had international health insurance for $2,500 per year, but when I turned 65, the price increased to $4,500 per year, with a 10% annual increase thereafter.
Now, I rely on my Medicare Advantage plan in the event of an emergency. My Medicare Advantage cost is only $130 per month, and it is automatically deducted from my Social Security benefits. (The agent I worked with was able to get me into a “giveback” plan that reduces my monthly cost.
Access to Prescription Medications
Keeping Medicare Advantage also allows you to benefit from the cost coverage of medications prescribed by U.S. doctors. You can have these medications mailed to Panama using a mail forwarding service, which is often more cost-effective than purchasing them locally. This is particularly important because some medicines may not be available in Panama or may be more expensive there. Panamanian and international insurance typically do not cover prescription medications. However, you can get a 20% discount on medicines in Panama if you have a Pensionado visa.
Flexibility for Medical Care in the U.S.
Maintaining your Medicare Advantage coverage allows you to return to the U.S. for medical care or surgeries if needed. This can be exceptionally comforting if you want to be close to family during significant medical procedures or treatments.
Medicare Advantage Travels With You
Like international health insurance, Medicare Advantage covers you anywhere in the world! One significant benefit of Medicare Advantage plans is their portability. If you decide to move to a different country or are just on vacation, your Medicare Advantage plan goes with you. This means you retain access to the same level of care and coverage, regardless of where you decide to settle. This portability provides a sense of security and continuity in your healthcare, which is invaluable when living abroad. When you have Medicare Advantage, you don’t have to shop for other insurance when you move to a different country.
Avoiding Penalties
If you ever decide to move back to the U.S., not maintaining your Medicare Advantage coverage will result in a penalty of 10% per year for each year you were not covered. Given that the future is uncertain, keeping your Medicare Advantage coverage ensures you won’t face these penalties if circumstances change and you return to the States.
You never know what the future holds!
Conclusion
In summary, keeping your Medicare coverage allows you to switch to Medicare Advantage when you move to Panama! It provides stable, comprehensive healthcare coverage without age or pre-existing condition restrictions, protects you from potential denials by other insurance plans, and ensures affordable access to medications and medical care both domestically and abroad.
By maintaining your Medicare Advantage, you can enjoy your new life in Panama with the confidence that your healthcare needs are well-covered. And now, you will no longer need to prepay for medical emergencies at certain hospitals in Panama.
Get the Online Panama Relocation Guide to learn more about moving to Panama and ensure you get the right Medicare Advantage plan to cover any medical emergencies in Panama. You can also learn about other health insurance options in Panama.
