Using Your Health Savings Account to Pay Travel International
medical tourism began, popular in the 1990s, when people travel in large numbers began to Brazil for cosmetic surgery. But because costs have continued to rise, thousands of Americans traveling overseas for real medical conditions, such as knee replacements, bypass surgery, heart valve replacement and other serious problems. Many countries view medical tourism as a good opportunity to put into foreign currency.
In many cases the quality of medicine in the overseas equivalent of the best hospitals in the United States, patients present in places like the Apollo Hospital in Hyderabad, India, part of a 36-hospital chain founded by a cardiologist at Massachusetts General. A heart valve replacement may cost, 000-0000 in the United States, and only 000 in India, including travel costs.
Escorts Heart Institute and Research Centre, Delhi, India, is another popular medical tourist destination. It was founded by Dr. Naresh Trehan, an authority on robotic cardiac surgery formerly based at New York University.
Blue Cross Blue Shield has announced that they pay for treatment at Bumrungrad International Hospital in Bangkok, Thailand for individuals from South Carolina. More than 80,000 Americans were treated last year. The hospital has 200 of its physicians are board certified in the United States, and a total knee replacement of 20 percent of what is available in
United States that do Cost?
Dodie Gilmore is a 60-year-old champion rodeo barrel racing in Oklahoma. He runs a ranch of 180 acres, but could not mount because she needed a hip replacement. Your health insurance had an exclusion would not cover the operation and they really did not want to pay, 000 it would cost. Instead, she and her partner flew to India where she underwent the operation at the Max Planck Institute of Orthopedics and joint replacement.
Your doctor is Dr. S.K.S. Mary, on average, an American patient hip each week. Dodie entire coastline, including the trip was only, 000 They even managed to visit the Taj Mahal.
Forty to sixty percent of respondents said they would consider surgery abroad if it could save them, 000 or more. Exit U.S. (perhaps even in Mexico), could be a useful strategy if you have a foreclosure effect abandoning the policy if you have a planned operation is not covered by your insurance, or if you have a high deductible plan.
What is the risk?
occur, according to the Institute of Medicine, over 100,000 accidental deaths in hospitals each year. And it will be here in the U.S. hospital a dangerous place, and you want to spend your life as little as possible. Thus, there are risks everywhere, and probably more risks outside the
U.S.
But it’s the magic of the free market offers some protection. There are a lot of capital flows to countries and international hospitals that practice high quality medicine. If a hospital does not offer high quality service that customers can also bet you, especially when they choose from anywhere in the world.
The influx of foreign patients (and money) to encourage more physicians trained in the West to return home, made the choice in fact, and to improve quality and lower prices. I think if you use when choosing your provider and carefully structuring your treatment, the risk does not exceed the transaction here
As American Research your options
Remember that most health insurance does not yet cover for treatment outside the U.S., especially if you want to receive special trips to medical care. So, check with your insurer if the cost of treatment exceeds the deductible.
Joint Commission on Accreditation of health facilities in hospitals certified by the United States with its international obligations, the Joint Commission International, certifies hospitals throughout the world. Make sure the device you are certified by them.
Next, check with your doctor. Make sure he or she is English, and was educated in the United States, United Kingdom, Australia or Germany.
Finally, consider hiring a consultant to give you the best hospitals and surgeons to meet your needs. Good service is not only treatment but can also arrange all travel plans, meet you at the airport, and your connection while you are being treated.
If you spend money on your health savings account to pay for international medical care, is the amount you withdraw tax-free. Health Savings Account rules, you can cover the cost of your trip, if the reason you travel to get medical care are not “purely personal reasons.”
In deciding how to manage your health, you should carefully consider all options. International travel is a good option for people with health savings accounts.
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