Health Insurance in Panama … What You Need to Know

By Ursula Kiener Ford

One of the biggest concerns for foreigners relocating to Panama is health care. Every day I get at least a couple of emails with questions about health insurance from people living in Panama or planning on moving to Panama. These are the answers to some of the questions people put to me.

Being a retiree does not give you discounts on insurance premiums. It does however give you discounts on medical consultations (15%) which cost between $30-55 and on medicines (10-17% depending on the pharmacy).

Foreigners have to pay in public hospitals since they can’t apply for social security unless they have worked in Panama for a significant period since quotas have to be fulfilled in order to be eligible.

To be admitted to a hospital in Panama you need to present proof of insurance or a credit card. If you don’t, hospitals are not required by law to give you medical care and they will send you to one of the public hospitals (which have difficulty in handling the amount of patients they receive) even if it is an emergency and your life is in danger. This makes health insurance a necessity.

Every company has a maximum age of admittance to a policy plan –usually around 62-64 years. After this you can still get insured but you have fewer options. The maximum age a company offers for admittance is 74.

Most companies require examinations for admittance which depend on your age.

To give you a quote a broker needs to know the age of the person to be insured and the age of any dependants, whether you are looking for local or local/international coverage and if you have any existing health problems.

For more information on health insurance in Panama please visit:
www.healthinsuranceinpanama.com