Philhealth, Gobal Ins, Or Self Insure?

[i am bob]

No matter what, I would get PhilHealth - it's cheap, covers a good chunk of what you would end up paying out of pocket and it's a no-brainer.  

 

If you intend to remain forever in the Philippines, I would look at one of the Philippine companies.  The cost for an American company with higher cost, deductible and less coverage (than if you were in the US) just don't seem worth it - unless you intend to move back to the US in a few years.  This will save your butt if you end up with a health issue (bad heart, cancer, etc) as you would have difficulties on your return home for just getting a policy under pre-existing conditions.  I am in that boat now - heart issues and insurance.  Luckily I still have my policy but when I move, do I cancel it and get one in the Philippines or stay with this one that won't pay for hospitalization - something you should check on your policy.  Many don't cover the cost of the hospital itself if you are living our-of-country.

[earthdome]

My choice when retiring was to continue health insurance or lose it forever. If I ever discontinue my employers retiree health insurance I can never start it again. Then my choice was the comprehensive plan or the catastrophic plan with HSA. In both options I can get reimbursed for expenses after meeting the deductible. The HSA allows me to use tax deferred money for routine medical, dental, vision and prescriptions. Once you reach 65 in the USA the employer requires you to use medicare and the employer provided insurance covers the gaps in medicare. But since medicare doesn't provide coverage outside of the USA and its territories my employee retiree health insurance will provide coverage outside the USA and at a much lower cost, only $40USD/month for a single person! Currently my catastrophic plan through my employer costs me $170USD/month. The plan costs more but my employer pays part of the cost based on my years of service, etc.

 

With several pre existing conditions, heart and cancer, maintaining coverage was a no brainer decision for me.

[i am bob]

my employee retiree health insurance will provide coverage outside the USA and at a much lower cost, only $40USD/month for a single person!

 

I'm not saying it will be but double check your insurance to be sure. Obviously. they will cover you outside the country as a tourist for a certain amount of time - ok, many of the group and retiree policies won't even do that any more.  But this is usually what they press if you ask about foreign coverage rather than if you move out of the country.  If you move out of the country, some will (a) raise your rates; (b) change the amount of coverage you will have; © a combination of (a) and (b); (d) provide no coverage; or (e) not change at all.  I thought I was going to have (e) myself until I looked closer and found out that my option was actually © where I am paying more and have less coverage.  Get out your policy, coverage book or check it out online but go and read the fine print on if you are or will be living outside of the country.  It's better to be safe and double check than to be sorry later!

 

:tiphat:

[lyno 47]

In australia  our country has to have a social security deal  with the country we are moving too, if no deal, no benifits unfortunatly we have no such deal with the phils.But we do have some with other countries,that you would not move too in a blue fit,very strange to say the least.I will take out phil health on arrival,so far i am in good health no medication or previous health issues but we all know that can change in a heart beat. cheers

[Thomas]

In australia  our country has to have a social security deal  with the country we are moving too, if no deal, no benifits unfortunatly we have no such deal with the phils.But we do have some with other countries,that you would not move too in a blue fit,very strange to say the least.I will take out phil health on arrival,so far i am in good health no medication or previous health issues but we all know that can change in a heart beat. cheers

 

Do you mean both:

/Health care? (common to not have)

/Retirement pay? (Perhaps change if moving abroad, but odd if it depend any much of deals with that country.)

[JJReyes]

Irregardless whether or not you have private medical insurance, anyone residing in the Philippines should apply for PhilHealth. The reason is some hospitals may not accept private medical insurance because their accounting departments wouldn't know the reimbursement procedure. You are back to square one, which is a substantial cash deposit before any procedure.

[MikeB]

Irregardless whether or not you have private medical insurance, anyone residing in the Philippines should apply for PhilHealth. The reason is some hospitals may not accept private medical insurance because their accounting departments wouldn't know the reimbursement procedure. You are back to square one, which is a substantial cash deposit before any procedure.

PhilHealth or not, you will still need a cash deposit before a procedure in a private hospital. Anyone considering any kind of medical coverage should do their own due diligence by reading the information and speaking directly to the Plan Administrator. 

[lyno 47]

Thomas health care in auz is called medicare it is free at public hospitals but the waiting list can be long for some operations also you have to pay for your medication ,but that is partly paid for by the govt cheers

[i am bob]

It would probably take me a while to find it but someone on this forum once made a statement about PhilHealth that we should all take to heart...

 

The statement he made?

 

"PhilHealth - get it"

 

:thumbsup:

[Thomas]

Thomas health care in auz is called medicare it is free at public hospitals but the waiting list can be long for some operations also you have to pay for your medication ,but that is partly paid for by the govt cheers

ok. 

 

--

Btw - In Sweden we have "expat taxes" for Swedish people geting retirement pay from Swedish government, but living abroad (outside Eueopean Union). The tax for such is 25 %, but then get NO tax reductions.

Normal Swedish tax is from around 30 % and up, but WITH tax reductions, so almost all retired get LESS than 25 % tax.

So the Swedish government PUNISH retired living abroad for NOT burden Sweden concerning things as health care and caretaking of old, which both get huge subsidies!!!

Some people, who still are in working age, LEAVE Sweden to get REDUCED taxes, and the Swedish tax officials work hard to find subrules FORCING them to go on be seen as "living" in Sweden. Because I don't have so many years left until retirement age, I can find it  ok Sweden find me "living" in Sweden after I have moved to Phili too   :mocking:     (It will not be any be any huge difference during my remining work period, because I plan to keep my Swedish company some years AFTER I move anyway, partly of economical security reasons.

(I believe I will let my Swedish company own the equipment used in Phili business (undepending of if own Phili company or not) and have a lease deal them.) And if I don't work, just earn by leasing out the equipment, then I don't need a work permit in Phili  :)   I mean IF the Phili company can manage without I work in it.)

 

Perhaps worth you check if your retirement paying country have important tax differences too between retired living there and them living in e g Phili.