In the UK we’re spoilt by the access we have to the free services available on the NHS. As much as many of us may complain about waiting lists, MRSA, under staffing and poor standards of care in some hospitals for example, in most other nations it’s far worse or far more expensive.
This becomes of concern when you start to actively contemplate a new life abroad in retirement. Certain countries within the EU have a reciprocal agreement with the British government that allows those British citizens of retirement age who are moving to the nation in question to have access to free medical services therein. For everyone else the reality is usually an expensive one.
So, what do you need to know about staying healthy abroad? In this report we look at each of the essential elements of health care and affording medical treatment that a would-be expat retiree needs to think about.
Reciprocal Health Agreements
The NHS website is the best place to find out whether you as an individual, based on your age, your state of health, any benefits you receive and your preferred nation of residence in retirement, qualify for free medical treatment when you move to live abroad. Other places where you can find out information are from the British consulate in the country you’re moving to.
Assessing Medical Care Provision Abroad
You need to determine the state of the medical services available in the country you’re moving to. For example, did you know that in Turkey most nursing duties in hospital are performed by family members meaning that if you’re retiring alone to live there and you fall ill, there may be no one around to care for you. In other countries services are so basic, rudimentary or even missing that you may need to travel far and wide to get the help you require medically speaking.
Other countries like Germany and the US have exceptionally sophisticated health care systems – if you can afford access to them. And did you know that when you become non-resident in the UK you can lose your right to access any NHS treatment other than emergency care? You have to get all the relevant information to your particular country of choice and position in life and then make a decision about how to ensure and insure your good health.
Is Health Insurance Required?
If you’re moving to a country that allows you free access to medical care perhaps you will have no requirement for any medical insurance at all. If you’re moving to a nation with such a reciprocal agreement in place but which offers basic care levels, maybe you’ll want a supplementary policy that will allow you to queue jump in an emergency and go private where state services are not sufficient. Such a policy can be a lot cheaper than a full international health insurance policy.
What’s more, such a policy is likely to be best offered by a local insurer as they will just give you insurance for the nation you’re in. If on the other hand you have no free access to anything and/or services in the nation are hugely expensive or hugely basic, you may find you need a more robust and broad policy.
At this point it will be imperative to shop around – because not only are there multiple providers of expatriate healthcare insurance in the marketplace, all offer very different incentives to you to take out their particular offering. As a retiree your premiums may be high – particularly if you have pre-existing conditions. So work out what you have to have as a bottom line and then shop around. You can reduce premiums by dropping benefits and also increasing your excess – and if you’re struggling to find a good policy ask a financial adviser to help you.
Finally, if you know any other expats who are living abroad in your country of choice, ask them what they and others like them have in place in terms of health insurance – and keep a sum put by in case of a medical emergency. You never know when you might need it.
