Unfortunately, the United States tends to have much higher healthcare costs than other countries. As a result, Americans with chronic health conditions can feel overburdened by medical costs. If you’re searching for cheaper healthcare options, you could engage in medical tourism.
Moving abroad could also be an option. Many countries have residency pathways and golden visa programs, possibly allowing you to settle in a new place. If you decide to take the leap, here are 6 ways that moving abroad can drastically reduce your healthcare costs.
1. Healthcare Is Cheaper in Many Countries
Due to the high medical costs here in the United States, some Americans have started engaging in medical tourism. Citizens sometimes travel abroad to countries or regions with more affordable healthcare to get necessary procedures, such as Mexico and South America. Moving abroad to a nation with a lower cost of living and cheaper medical care can drastically reduce your healthcare costs. Even if you’re uninsured after moving abroad, you may still save money by paying out-of-pocket in certain low-cost countries.
2. Digital Nomad Health Insurance
If you plan on moving abroad and traveling around, look into digital nomad health insurance. These policies are designed to give you medical coverage in many countries overseas, enabling you to travel around without worrying about healthcare costs.
Choosing a policy that doesn’t include coverage in North America could help you save money on health insurance compared to what you’re paying now. This is because medical care in the U.S. and Canada tends to be more expensive than abroad. So waiving this coverage can reduce your rate.
3. Universal Healthcare
Some countries offer universal healthcare coverage to permanent residents or citizens, including Canada and most EU nations. If you plan on moving abroad to one of these countries, you may eventually be eligible for universal healthcare. However, keep in mind that citizens usually pay higher taxes in these countries, which may negate some of the savings. It’s also possible that some procedures or expenses may not be covered. For example, the Canadian public healthcare system doesn’t cover prescriptions or dental and vision care.
4. Other Countries May Have Better Healthcare Outcomes
According to the Peterson Foundation, the U.S. has worse health outcomes than other wealthy nations. America performs poorly when it comes to life expectancy, safety during childbirth, and diabetes management. By moving abroad, you may receive better care for less money, potentially enabling you to stay healthier for longer. If you have a better health outcome abroad and require less medical intervention, you could save thousands over the course of your life.
5. Better Food Could Lead to Better Health
According to Grist, Americans consume more packaged food than our peers in most other countries. Processed food is associated with poorer health and increases the risk of chronic disease. Moving abroad to a country where healthy eating is accessible and encouraged could improve your diet and overall well-being. Fueling your body with nutritious foods may help stave off illness, potentially reducing your medical spending and helping you save money.
6. Moving Abroad Could Help You Get More Exercise
Finally, the last way moving abroad can drastically reduce your healthcare costs is by encouraging you to move more. Many nations are more walkable than the United States. Citizens in nations with better pedestrian infrastructure tend to get more exercise than Americans and stay fitter. Moving abroad and embracing walking or biking could help you boost your well-being and stay out of the doctor’s office.
You Don’t Have to Suffer Through High Healthcare Costs
If you’re tired of dealing with high healthcare costs, luckily there are ways to take your power back. Seeking cheaper medical care in Mexico or South America could help you save money. It’s also possible to move abroad and pursue residency in a new country. Hopefully this post inspires you to research your options and find creative solutions.