Where to retire if heathcare is important

More and more older people approaching retirement are considering leaving their countries of birth for warmer, more exotic and less expensive surroundings.

Of all the convoluted decisions needing to be made when considering retirement overseas, healthcare is possibly the most important. Nowadays, it’s fairly straightforward to find acceptable healthcare in a majority of popular expat retirement hubs at a lower cost than in the home country. However, considerations should include the cost and availability of comprehensive private medical insurance, especially if you have an existing condition. Equally important is checking carefully online rather than judging on the basis of reports used by healthcare and insurance providers as advertorials rather than objective reviews.

Online surveys tend to be more accurate, especially if they’re aimed solely at retirees, but looking further is still advised. For example, one recently-released global retirement rankings survey praises several countries for their expat healthcare standards, with France coming in at third place. One expat is quoted as saying she has access to the French social security system after just three months’ residency and a commitment to stay for at least six more months. That, plus her private health insurance top-up, takes care of almost all her ‘low’ healthcare costs. In fact, French healthcare does have an excellent reputation, but affordability depends on expats’ individual financial statuses.

Surprisingly, especially for expats living in the country and posting on local forums, Thailand came second in the survey. Quoting an expat couple living in Hua Hin on early retirement, their in-hospital private insurance costs them around £2,000 a year, admittedly far cheaper than in the USA or UK. However, ‘early retirement’ in Thailand can mean 55-60 years old, with premiums soaring with every extra year and insurance almost impossible to obtain post-70 years old. Nor does the rating mention the equally soaring cost of ongoing or major life-saving treatment. Some Thai private hospitals are excellent and have English speaking staff, but many, including the public hospitals, have much lower standards and very few practitioners have any knowledge of English. As with much else in Thailand, it’s all about the money.

The survey’s number one top country for excellent expat healthcare is Malaysia, and this time the survey has it nailed. The majority of specialists have been trained in either the UK or the USA and English is widely spoken. Not only is private healthcare less expensive than in most Southeast Asian and most Western countries, private health insurance is cheaper as well. Those arriving from the UK, USA and Australia on Malaysia’s ‘My Second Home’ visa will be well satisfied, but the survey does demonstrate the need for extensive research on local forums and expat retirement-related sites before it’s ‘make your mind up’ time.