Most Advantage Plans have low or zero premiums and include worldwide emergency medical coverage. Example 1: Janice Smith loses her husband while living in Thailand. In most cases, Part A has no monthly premium and it is expensive to re-purchase later. Health Savings Accounts are tax-free accounts for individuals with high-deductible health plans (HDHPs). Ron Elledge is a Senior Market Insurance Agent with more than a decade’s experience. Please check with your carrier before leaving the U.S. Residency Requirements: First, eligibility for Medicare A and B are not dependent on U.S. residency, only citizenship. However, when John passes away, Mary decides to return to the States to be close to her children. Those who drop Part B without an SEP will be subject to monetary penalties, extended lapse of coverage, and denied immediate access to Advantage or Supplement Plan coverage upon return to the U.S. Medicare Supplement Plans offer a large range of benefits and services, but you’ll need to be enrolled in Medicare Parts A and B to be eligible for them. John is flown by helicopter to the nearest hospital emergency clinic where he undergoes testing, doctor evaluations, and finally an operation to set his badly broken leg. Healthcare is one of the most important factors potential expats consider before moving abroad and in the right places overseas it’s possible to access world-class care for a fraction of the cost back home... For most folks looking to move abroad, healthcare is a huge consideration. Save my name, email, and website in this browser for the next time I comment. Therefore, you may maintain both A and B while living overseas. In the case of Advantage Plans, if you are free of end-stage renal disease (ESRD), coverage may start the first day of the following month in which you enroll. Box as a mailing address. A tax problem may come if you claim residency in the U.S. to maintain an Advantage or Prescription Drug Plan and claim Costa Rica residency to avoid paying state taxes. It is calculated by multiplying this percentage by the current National Base Beneficiary Premium, which is $144.60 in 2020. Medicare is the federal health insurance program for people age 65 and over. } else { The recipient must maintain their citizenship or legal status in the U.S. and they must stay current with their Part B premiums. }. This leaves her with a 15-month period in which she will have no Part B coverage and, because she is not eligible for Part B, she is not eligible to enroll in a Supplement (Medigap) or Advantage Plan. But how can you judge which doctors and hospitals are good in another country? It will depend on your situation. Until quite recently, the preceding rule applied even to most people who worked abroad beyond age 65. If you have a resident visa and you qualify, you can buy a private health insurance plan for far less than it would likely cost in the U.S.—often for one-fifth the cost. if (myCookie == null) { But should you maintain your coverage when you move abroad? In most cases the P.O. Don’t wait: Medicare Advantage Open Enrollment ends March 31, Sign Up / Change Plans. Because she has kept both Parts A and B, she will have first-day coverage upon her return to the U.S. with no penalties or premium increases. In this scenario, it would be advisable to maintain your Medicare A, B, and either an Advantage Plan or Supplement Plan. function getCookie(name) { If you are traveling in the U.S. and have a medical emergency, but the nearest hospital is in Canada or Mexico, you can qualify for Medicare coverage at that nearby hospital. When working overseas. Luckily, though, there are many countries where, as a legal resident, you can qualify for a local healthcare plan that’s often more comprehensive and less costly than Medicare. It is best to seek counsel from a competent Medicare expert or agency when making these critical decisions. You want care at least as good as what you get at home…but preferably without that U.S.-sized price tag. document.write('