Why You Need Health Insurance in Panama
Last Updated on July 14, 2026 by Retire in Panama
Last week, I replied quite lengthily to a Facebook Post asking about International Health Insurance for a couple that was moving to Panama. As is typical, the post received multiple personal opinions, some of which, in my opinion, are really bad advice for most people. I have expanded on my answer below.
You can get very good, affordable international insurance here in Panama that covers you without a co-pay and has a small deductible. You will be covered when you go back to the US to visit or travel the world. Most international insurers will cover you in North America up to 90 days a year.
All pre-existing conditions will be reviewed when you apply, as international insurance companies are not required to accept them. If you have simple things, like high blood pressure or high cholesterol, like many people over 50, as long as your medication controls them, you should not have a problem when it comes to getting insurance. Major pre-existing conditions, like Type One Diabetes, recent heart surgery, or cancers, can all prevent you from getting insurance, or at least have waiting periods, or possibly increase premiums, and you need to know all your options before moving to Panama.
As an example, I am 62 years old and pay $248/mo for international insurance, with a $1,000 deductible in Panama, including the rest of Central America and Colombia. No deductible if an emergency, and never any co-pay. When I travel internationally, my deductible increases to $10,000, so I purchase gap insurance to cover it. Selecting a larger deductible internationally almost dropped my monthly premium in half. I am not from the US, but if I were and 65 or over, my international insurance would act as a supplement to Medicare Parts A & B.
Many people like to answer these posts that they self-insure, which is a great option only if you have the money. If you have a savings account with $100,000 per person in it that you do not need to touch for anything, you can self-insure in Panama. The small things, such as seeing a doctor, getting a blood test, or an X-ray, are very affordable here. But, God forbid you are in a major car wreck, one of you gets cancer, or a major heart attack with subsequent surgery, then you are in the $10s of thousands of dollars, using up your reserve self-insurance fund.
For those of you who are fully covered, as you were smart for getting in when you were young, don’t cancel. I hear so many people respond to these posts that they canceled their health insurance, because they never used it. I have a hard time wrapping my head around a statement like this. Its insurance, the best thing that could happen to you, is that you never have to use it. As you get into your 60s, 70s, and beyond, you will need your insurance. And by that time, you may have developed pre-existing conditions that may prevent you from getting it. If the house you have lived in for many years has not burned down yet, would you cancel your fire insurance? Of course not! Well, your house, your body, is going to start breaking down, so keep the insurance.
You may hear from other companies online that the Medicare Advantage programs are good for US citizens living in Panama. That simply is NOT true. If you plan to be part-time here, a five-to-six-month showbird-style of living, then yes, a Medicare Advantage program may be perfect for you. Some hospitals even direct-bill Medicare Advantage in Panama. But, remember, Medicare Advantage only covers you for emergencies in Panama, the emergency only, not any follow-up treatment. You are expected to travel home to your coverage area for anything else.
The real problem here is that all medical Advantage, which governs ALL MA plans. (42 CFR 422.74(d)(4)(ii) and 42 CFR 422.74(d)(4)(iii) The only way to avoid this is to lie on your enrollment form every year that you still live in the coverage area, and avoid telling them you now live in Panama. You really do not want to play this risky game, with claims being denied, or clawed back, or even receiving fines.
Read more about the Health Care System in Panama and Your Health Insurance Options HERE.
When our company works with our guests, we work on budgets from the beginning. If they are budgeting $ 1,800 a month for a rental in Boquete, I tell them we should be looking for something they will be happy with for $1,200, so they have extra money for health insurance.
The companies that offer the best international health insurance plans in Panama are usually not the ones you have heard of back in North America, as US insurance companies, I have found, are not competitive in Panama. When I turned 60, I had my agent requote my health insurance to make sure I was on the best plan for me. Companies like Blue Cross Blue Shield and Cigna charge premiums that are double those of international companies. They are international companies with their head offices in Europe or South America. Mapfre, Worldwide Medical, Mercantile, Bupa, Bumi, and others. All excellent companies with a good product.
The health care and insurance system is difficult to navigate in Panama, as it is in Spanish. That is why we recommend going through a reputable broker to get your Health Insurance. Our company uses Alejandra Pretelt of Grupo Central de Seguros, a large brokerage firm from Panama City. Having a fully bilingual insurance agent on your side to navigate the system and help with any claims is essential for any Expat living here with little Spanish skills. You can get in contact with Alejandra through this form on our website: https://www.retireinpanamatours.com/health-insurance/
Our company is not an insurance broker, nor do we earn money promoting insurance; our business is relocation tours and assisting expats in making smart choices when moving to Panama. But it is good to know that if we help a future expat with this important need, we will never have to see their name next to a GoFundMe seeking funds to cover their emergency health care. The information I am providing in the post is the same information we have been providing for free on our website blog and Live Thursday Q&As for many years.
Oscar, Megan, & Rod
Retire in Panama Tours
Helping You Call Panama Home!
