Save Medicare By Offering Overseas Coverage?

[Lopburi99]

I know this topic has been talked about before on ThaiVisa, but I've been thinking about PM Abhisit's comments recently at the G-20 meeting about Thailand role for "retirement tourism" and "health care tourism." He has opened the issues, now is the opportunity for followup.

How about the PM following up with a outlining a scenario which makes sense for Obama to consider, in fact one which hopefully he even cannot (and wouldn't want to) ignore.

With the cost of health care being so affordable here and in some other countries, it seems possible Medicare payment amounts could be decreased by maybe as much as 50% or more for treatment outside of the U.S.

This could be available on a qualification basis for low income and/or retired people. People who are staying in the U.S. primarily to receive Medicare coverage. People who would rather be living or retiring elsewhere but need the medical coverage offered by the Medicare programs.

For example, if heart bypass surgery typically cost Medicare $x in the U.S., maybe Medicare could offer $x/2 or even $x/3 payments for treatment overseas. Chances are that amount would cover costs or at least contribute significantly with a small remainder paid by the patient.

With so many baby boomers retiring now and millions more soon, Medicare is going to be crippled big time as everybody knows. It seems possible, I HOPE, a financial model could demonstrate Medicare could actually SAVE by offering discounted/reduced coverage outside of the U.S., thereby enabling more retirements overseas, you get my drift. The low cost of medical and health care here in Thailand could make that scenario feasible?

What do you financial/medical/insurance experts think?

[Jingthing]

Its too logical.

This org has been working on extending medicare to expats for years:

http://www.aca.ch/joomla/index.php?option=...4&Itemid=51

[Lopburi99]

Its too logical.

This org has been working on extending medicare to expats for years:

http://www.aca.ch/joomla/index.php?option=...4&Itemid=51

Do you know what factors they've determined as rendering this idea non-feasible?

[samuibeachcomber]

Its too logical.

This org has been working on extending medicare to expats for years:

http://www.aca.ch/joomla/index.php?option=...4&Itemid=51

the only thing i could see against this is that the money paid out by the govt. would be going off shore.

[Lopburi99]

Its too logical.

This org has been working on extending medicare to expats for years:

http://www.aca.ch/joomla/index.php?option=...4&Itemid=51

the only thing i could see against this is that the money paid out by the govt. would be going off shore.

Good point. We're talking potentially tens, perhaps hundreds of billions.

[Jingthing]

The expat retiree numbers from the US are very low and they aren't taken seriously as a constituent. That may change as the boomers retire, but it may not. If the dollar collapses, the numbers may even go lower.

I hate to sound paranoid but if we become too visible and a much larger group, I wouldn't be shocked if they start restricting our social security benefits similarly to the Brits and Aussies.

[Lopburi99]

The expat retiree numbers from the US are very low and they aren't taken seriously as a constituent. That may change as the boomers retire, but it may not. If the dollar collapses, the numbers may even go lower.

I hate to sound paranoid but if we become too visible and a much larger group, I wouldn't be shocked if they start restricting our social security benefits similarly to the Brits and Aussies.

And politically for Obama the payoff probably isn't there, especially if he is accused of suggesting people are better off leaving the U.S. rather than to fix the problems to lessen their need to leave.

You could imagine the Republican's spin on that.

I can just hear Glen Beck now: "Obama wants you to get out of America! And he's willing to pay you to go!"