My Health Insurance as a Global Citizen

A lot of you have asked me about how I keep my health insurance as a global citizen, how to set it up and what are the common misconceptions many people have.

If you are coming from any of the western countries especially the US, you might think you are getting the best possible health care for your buck but that's usually not the case.

The perks of the nomad lifestyle are that you can choose the country which has the best medical experts and set up a base there to get the best treatment that you don't have to overpay.

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ABOUT NOMAD CAPITALIST

Andrew Henderson and the Nomad Capitalist team are the world's most sought-after experts on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where they're treated best".

Andrew has started offshore companies, opened dozens of offshore bank accounts, obtained multiple second passports, and purchased real estate on four continents. He has spent the last 12 years studying and personally implementing the Nomad Capitalist lifestyle.

Our growing team of researchers, strategies, and implementers add to our ever-growing knowledge base of the best options available. In addition, we've spent years studying the behavior of hundreds of clients in order to help people get the results they want faster and with less effort.

DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

[thomasmorrison]

You are so correct. I am an American who lived in Japan for 2 years. I got a very serious case of flu in Japan and had to go to the hospital. I had no insurance in Japan. I had an IV, saw two specialist and got bed care and medicine. When I checked out of the hospital, I got a bill for $120. My niece visited from Vietnam to the USA and went to the emergency room for a light infection. She received a bill for $5000 for 2 hours of medical service and testing.

[abeeiland]

Excellent Andrew. American nomads will be shocked when they discover what you touched on, cost, quality of care. Thank you for your help.

[marktourtellotte]

I have received excellent care in Mexico at private hospitals that make US facilities look like field hospitals. And they cost a fraction of the american services, as well as treat you like a human being. Gracias amigos!

[craigcmurphy]

Great summary of this topic. After tax savings, I would argue that obtaining health coverage abroad is possibly the second largest money saving strategy for expats.

[cryptotiger]

If you get sick in usa and don't have insurance you will be in debt forever with all the medical bills

[raidhmohamed]

Very true, from personal experience Prince Court Medical Centre in Kuala Lumpur offers some of the best care in the world compared to even developed european countries like Germany.

[AmandaAbella]

I just got a cleaning, three filings and a brand new retainer in Mexico for less than $300 USD. A friend of mine is paying $1300 for a root canal in the US. When it came to eye care my partner and I together was a third of the cost of my last eye doctor appointment in the US and the eye doctor came to our house. The math just doesn’t math when it comes to the cost of health in the US.

[pipbuster]

Awesome insights on global healthcare and insurance. Thanks Andrew!...

[ericeverson]

I love the risk transfer idea. Most people do not understand insurance. Great explanation.

[raireva]

Health care is the best illustration for "go where you treated best"

[rift]

Thks Andrew, sounds like a workable soild plan. I have noticed since your podcast days you have been a fan of Malaysian healthcare.

[ben]

With you 100% Andrew.
I've been a nomad cap for years and will die one. However, the mix of comprehensive and catastrophic works for ages 20-60, but will be completely unaffordable for most in ages 60-100.

In fact, many companies won't even insure you over 80. I've narrowed my elderly plan, therefore, to either residing in a place like France (where I'd be covered completely), or Mexico (where it's just super cheap).

The obvious problem with the former is they'd rob my wealth and cap gains til I'm in the poor house. And prob with the latter is paying cancer out of pocket could be 100s of thousands.

How about you? Plans for catastrophic health needs at 60, 70, 80 + ???

[sarahandymears]

Thanks! This was very helpful and provided more context than what was in the book.

[jasonfraser]

Thank u Andrew. U answered my main concern, which was where does travel insurance send you? Answer: where your a resident and have local coverage. :) i know a few malay drs that trained in Australia. I met them at uni. So i agree w/u re quality care/training that some malay drs receive through gov. Scholarship programs. I wish i bougt house in malaysia back in 2003-5. "learning point"

[RothReview]

If you are a US citizen, a health ministry may be the best option. The one I am part of, covers overseas bills along with US bills. Costs about $2.5k/yr. $2k deductible.

[digitalnomadhealth]

Self-insuring to a degree, private health coverage, and, most important of all, disease prevention are the tenets of a good health and healthcare cost strategy. Thank you for sharing your tactics - incredibly helpful.

[robertkreamer]

You would find that there are ways to use for example Swiss insurance firms that will provide you with Global coverage but also provide Extraction coverage so you can be medically flown out of some not good country to your preferred location. You know I did a lot of work
With Johns Hopkins hospital system

[gabrielledennis]

Thanks for this and all your other helpful videos.

[kurtschoenkopf]

I would qualify having now experienced the problem in Panama that not all drugs are available around the world. Each country creates its own formulary. While one may want to avoid the high cost of US insurance one also has to look at the availability of similar treatment options which do not become apparent until you are in the system.

[epicurean]

Stay healthy.
Practice yoga and Kamasutra.
You will reach💯😁👍