Published on Tuesday, May 05th, 2009 by Shelter Offshore:

http://www.shelteroffshore.com/index.php/health/more/expat-health-insurance-gap-10436/

The recession and deflation are seeing prices for all sorts of services, goods and commodities fall in real terms. Some say this is a downward spiral that’s hard to break as we all wait for prices to fall before we buy anything – but that aside for a moment, there is one ‘commodity’ or service that’s actually fast increasing in expense, and that’s health insurance.

For expatriates and those thinking about a move overseas, this is worrying news. Health insurance is already an expensive necessity to have for expatriates in most nations, and many expats are looking at ways of cutting the overall cost of their cover. Some find that by taking local insurance only they can cut their costs, but then they leave themselves exposed to the expat health insurance gap.

The expat health insurance gap exists for those who want to travel, relocate or repatriate, and it’s those who fall into the latter category who are being particularly affected at the moment as they realise that they are not automatically entitled to NHS care if they do return to Great Britain. What’s more, some of the largest international insurers such as AXAPPP and BUPA are keen to let expats know that their international policies are actually more competitively priced than many may previously have thought.


Why International Health Insurance is Rising MORE...

Here is a well written article about "Title Insurance in Panama" by my friends at POSI:

By: Steven Rich, Marketing Manager & Jessica Angulo, Attorney for Panama Offshore Legal Services

Two foreigners bought real estate in Panama in 2006 from a seller who produced a “Paz y Salvo” certificate from the Ministry of Finance showing that he owed no property taxes.

In reality, when the seller bought the property it was improperly registered with the Ministry of Finance’s Cadastro office, which determines property taxes. The seller should have been paying higher property taxes.

The Ministry of Finance (MEF) discovered the error and levied an $11,000 property tax lien on the property against the buyers.

The buyers petitioned MEF to admit their error and exonerate the new owners from paying it. MEF refused explaining that the $11,000 past due property taxes remain with the property as a lien regardless of who owns the property.

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Published on Friday, April 03rd, 2009

Great article from Shelter Offshore:

http://www.shelteroffshore.com/index.php/health/more/essential-health-advice-expats-living-panama-10377/

Last year around 20,000 Brits joined the 1.2 million people who decided to visit or live in Panama.

Located in Central America, Panama offers a tropical paradise of Pacific Ocean and Caribbean Sea beaches alongside cool mountain highlands. It is home to the Panama Canal, often described as one of the wonders of the modern world, and it is becoming a very popular place to retire or relocate to.

It’s always advisable to visit your doctor or a travel health clinic 4-8 weeks before setting off on your journey. Current governmental health advice given for travel or relocation to Panama recommends the following immunizations: Hepatitis A and B are recommended for all travelers over the age of 1, as is the typhoid vaccine. If you’re planning to explore Panama and travel outside of Panama City, the Canal Zone or the San Blas islands you’ll need a yellow fever vaccination too, and if you’re entering Panama from a yellow fever infected country you’ll need to have an international yellow fever vaccination certificate.

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Here is an excellent article by my good friend Derek Sambrook of Trust Services, S.A. http://www.trustserv.com/ about the importance of Offshore Estate Planning:

In centuries past the Catholic church amassed a fortune from wills which left money for prayers to be said for the souls of the departed. John Shakespeare, William’s father, for example, died in 1601, the year that Hamlet was written, and left a plea, along with a spiritual, if not an actual, last will and testament, that his relatives should pray for his salvation. In today’s world, salvation can concern temporal matters as well, and needs the intercession of not just prayer if one has assets offshore.
A lot of personal wealth is held in companies registered offshore, but what happens to the assets when the owner dies? Although Plato contends that nothing in the affairs of men is worthy of great anxiety, I can guarantee that not getting your affairs in order before your rendezvous with death can cause great anxiety for those left behind.

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Interesting article from the Miami Herald:

BY JOHN DORSCHNER
jdorschner@MiamiHerald.com
Trying to buy health insurance on your own and have gallstones? You'll automatically be denied coverage. Rheumatoid arthritis? Automatic denial. Severe acne? Probably denied. Do you take metformin, a popular drug for diabetes? Denied. Use the anti-clotting drug Plavix or Seroquel, prescribed for anti-psychotic or sleep problems? Forget about it.

This confidential information on some insurers' practices is available on the Web -- if you know where to look.

What's more, you can discover that if you lie to an insurer about your medical history and drug use, you will be rejected because data-mining companies sell information to insurers about your health, including detailed usage of prescription drugs.

These issues are moving to the forefront as the Obama administration and Congress gear up for discussions about how to reform the healthcare system so that Americans won't be rejected for insurance.
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Good article from PG "Be aware of your surroundings"!

DON WINNER for Panama-Guide.com - I received the following today from Kristin (snip). She narrowly avoided becoming the next victim of an "express kidnapping" in Panama City just yesterday afternoon. While playing poker at the Veneto last night I was told of yet another expat who wasn't so lucky as Kristin. He hopped into a taxi on Via España near the Blockbuster. The taxi driver picked him up and then drove just half a block where three more men quickly jumped into the cab. The drove him all over town, forced him to pull as much money as possible out of an ATM, stole all of his possessions (watch, rings, wallet, etc.) and then left him without a dime out behind the Roberto Duran stadium. He was unharmed, and both of these people were very lucky. Please read the following story and LEARN from the experiences of others. If you continue to wander around with an "it can't happen to me" attitude, then you might just as well paint a big, fat target on your forehead. Anyway, please read on... (more)

Hello Kevin,
Thanks again for all the help you gave us during the trauma with the van. It was a difficult time for me and you were a rock, which I know helped us through many tough spots. I am sorry when there was confusion. A lot of people were involved in coordinating the fix-it job on my end also. But it all worked out and everyone performed well. I have attached a note with some of my thoughts about the process. More.........

Carmen and Kevin,

I want to thank you for your help regarding the accident I had in Chitre in July of this year.

With your help and the excellent service of the insurance company I had absolutely no problem regarding this accident.

I had to go to a hearing before a Judge as to fault ( this is the procedure in Panama I understand ) and was treated very well and did not feel ill at ease being a "gringo". The fact that the insurance company provided an attorney for me at no expense is a tremendous benefit of your company. The other party ( Panamanian taxi driver ) was found to be at fault by the Judge even though he was a " local ".

Although this was not a pleasant experience you and the insurance company you represent made it as painless as possible.

Once again thank you for the excellent service,

Hugh C. Avis

With the heavy rains and serious flooding this week in Chriqui and Bocas del Toro, it is important that you check your fire insurance policy to make sure that is contains coverage for flood and water damage.

Fire Insurance policies for structures in the Republic of Panama are similar to those issued in the USA, Canada and Europe. The basic fire policy usually includes "extended coverage" for occurrences other than fire. This extended coverage should include Flood & Water damage, Explosion, Earthquake, Windstorm, Lightning, Smoke damage, Falling Objects and Debris Removal after an incident.

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