Oct. 26, 2009
Mexico
PLUS:
- "Can I Live Overseas Year-round And Still Maintain My U.S. Citizenship?"...
- "Kathleen, What Countries Will Your New How To Retire Overseas Book Cover?"...
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Dear Live and Invest Overseas Reader,
"Anyone worried about rising health-care costs in the United States can potentially save a bundle just by going south of the border," writes new
Mexico Correspondent Therese Lewis. "Health care in Mexico costs a quarter to a half what you pay in the States. And those savings are across the board--including doctors' and dentists' visits, lab tests, surgeries, even medical devices and prosthetics.
"You don't have to cut back on quality to get these savings, either. Mexican health care is good, often excellent. Medical schools in cities like Guadalajara are comparable to any in the United States--in fact, many Americans study medicine in Guadalajara. In addition, many Mexican doctors do post-graduate work in the United States or in Europe.
"Medical and dental costs in Mexico are low enough that many expats choose to pay out-of-pocket, even when they have health insurance--it's less bother than submitting claims. Here are the kinds of savings we're talking about:
"Doctors' visits, even to specialists, tend to run 350 to 500 pesos a visit. At the current exchange rate, that's about US$27 to US$38. A visit to a nurse practitioner costs even less--less than US$10.
"Lab tests--for example, a blood assay for cholesterol levels--can run about US$19. An electrocardiogram runs more--perhaps US$90 to US$100--or as little as US$5 if you have it done at the Red Cross.
"Women pay about US$30 for a gynecologist's visit and about US$38 to US$54 for their annual pap smear.
"For dental work, expect to pay US$50 to US$75 for a cleaning, about US$50 for a filling, anywhere from US$225 to about US$350 for a porcelain crown, and US$150 and up for periodontal surgery.
"An overnight hospital stay in a private or semi-private room tends to run US$50 to US$100.
"With these prices, it's no surprise that medical tourism is booming in Mexico. Many Mexican cities along the U.S./Mexico border actively promote medical and dental tourism, with ads, websites, and plenty of English-speaking staff. Tijuana, just south of San Diego, is one of these. Others include Los Algodones, near Yuma, Arizona; Nogales, due south of Tucson; and Reynosa and Matamoros along the Texas/Mexico border.
"But you don't have to stick near the border to get excellent, inexpensive medical care. You can find it throughout the country. Most medium-sized and large cities in Mexico have modern hospital facilities (often several hospitals), clinics, high-tech lab facilities, and well-trained medical staff. Even small towns have medical clinics with nurse practitioners and visiting doctors.
"If you need an English-speaking doctor, you're more likely to find one in private practice or on staff at a large private hospital. (Mexico, like many countries, has a national health system with its own medical staff, hospitals, and clinics. Doctors on staff at these nationalized hospitals are less likely to speak English well.)
"The smaller the town, the harder it will be to find English-speaking doctors--unless it's a beach town that attracts tourists, in which case no place is too small. You may have to rely on Spanish, however, with nurses, lab technicians, and other hospital staff.
"But you'll likely find that their caring attitude makes up for any lack of English. Again and again, expats comment that, in Mexico, they receive a level of warm, personalized medical care that they no longer find at home.
"Personalized care and lower prices? Now that's really a bargain."
Kathleen Peddicord
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The asphalt has barely set on Panama City's new and sparkling, park-fringed highway skirting the bay through the center of downtown, and already it's being expanded. The US$52 million extension of the Cinta Costera into the city's old quarter, Casco Viejo, is yet more good infrastructure news for the good people of Panama's capital city (including us...with the city-center highway expanded into Casco Viejo, where we're now living, our daily commute will be reduced to a matter of a few minutes).
"Kathleen, I'm wondering whether your new book covers any of the following countries: Romania, Austria, Spain, France, Costa Rica? If so, which ones?"
-- Heidi B., United States
The new
How to Retire Overseas book that I've written for Penguin Books features sections on the world's top 14 overseas retirement havens, including
France (from your list).
I discuss
Costa Rica in the book as an example of a country that
used to make great sense for foreign retirees. The situation in this country, however, has changed dramatically in the past several years, and I no longer recommend it as among the world's top havens.
Spain has much to recommend it (
see our full Spain Retirement Report here), and I'll likely include it in a next edition of the book.
How to Retire Overseas will be available in U.S. bookstores starting March 2010. You can reserve a copy pre-release on Amazon starting this month at a 34% discount.
Go here now.
"Thank you for all the e-mails, I subscribed yesterday to your monthly newsletter. I have already verified that the Social Security Administration will send my disability check most anywhere in the world, and I am thinking of moving to Panama, Mexico, or Nicaragua. I have a good nest egg, in addition to my US$1,900-per-month check. I am wondering how I can reside in one of these foreign countries and keep my U.S. address and bank accounts? Is this possible, or do I have to establish residency and obtain a visa in the new country? Basically, what I am asking is, how can I buy or rent in one of these places year-round and still maintain my U.S. citizenship?"
-- Bryan H., United States
Never fear. Living in another country, even full-time, in no way affects your U.S. citizenship. Remember, citizenship is not the same as residency. Residency is your right to be physically present (to reside) within a country's borders. In some countries, residency can lead to citizenship, but this is another step and another thing altogether.
You can reside overseas 365 days a year if you like and maintain property and bank accounts in the United States. Again, your place of residence has no effect on your ability to hold assets in another country.
These important issues related to residency and citizenship are detailed in full in our
Next Step Guide to Living Your Dream: The Perks, Privileges, and Peace of Mind of Residency in the World's Top 18 Overseas Havens. Particular details for Panama, Mexico, and Nicaragua are included.
More here.
