Economic pressure caused by rising healthcare costs is forcing many Americans aged 50+ to retire in Mexico. Well-established expat communities, low cost of living and warm climate is also some of the reasons why Mexico has become an appealing choice for retirees from America. In fact, Mexico was ranked fourth in the list of top 10 countries for retiring in 2020.
Healthcare facilities in Mexico are affordable and accessible compared to the United States of America. According to a report by the International Living, cost of common surgeries and procedures in Mexico can be a third of what people pay in the USA.
Things to Know:
- According to a report by the International Living, in Mexico, the cost of routine healthcare is half or less of what you would pay in the USA.
- On an average, cost of visiting a private doctor, including a specialist can range between $12 to $50 in the country.
- Compared to the USA, the cost of prescription drugs manufactured in Mexico is about 30%-60% less.
- The cost of an MRI in Mexico ranges between $300 to $500 which can cost you around $2,600 on an average in the US.
Insurance Options for Retirees in Mexico
For expats who have or want to apply for a legal residency in Mexico, a travel insurance policy won’t work. If you have health insurance cover in the country you are living currently, the policy might work but, in most cases, you will have to travel back to your home country to avail coverage. So, if you wish to retire in Mexico, it is best to consider health insurance coverages that will be valid and also provide the right solutions for all your healthcare needs.
Government in Mexico offers affordable healthcare to the citizens and resident expats. There are mainly two government sponsored insurance systems that you can choose from: Instituto Mexicano de Seguro Social (IMSS), run by the federal government and Seguro Popular, run by the state government.
Save Money with a Private Insurance Carrier
As a retiree you can also opt for a private healthcare service provider such as Lakeside Medical Group. This group will cover your personal medical needs and also give you access to the best of private clinics, doctors and hospitals in Mexico.
Lakeside Medical Group will offer you full medical attention, whenever needed. You can register with them for free and be assured of the best medical facilities in Mexico. Under the group’s managed care policy, everything from routine checkups and consultation to hospitalization will be handled by their team.
Once you are registered with Lakeside Medical Group, you can also get access to their emergency and urgent care.
That’s not all! The group also has an in-house pharmacy to take care of your monthly medicine needs. They offer this service at a nominal copay and the medicines will be billed directly to your insurance company. To know about the group and its offerings, check their website https://www.lakemedicalgroup.com