Many people in the United States and Canada who spend part of the year or already reside permanently in Mexico seek to have the best health insurance protection. Systems like Medicare do not provide one hundred percent coverage in Mexico, and their policies do not extend coverage beyond the Mexican border. This is why it is essential to have a Mexican health insurance policy that guarantees payments to private doctors and hospitals in Mexico in case of an illness or accident.
The major insurance companies in the world have affiliate companies registered in Mexico to issue approved and admitted policies in Mexico and are regulated by the National Insurance and Bonding Commission (CNSF). CNSF is the Mexican insurance department that operates at the federal level, unlike the USA which relies on state regulations. The CNSF is constantly monitored by permanent advisors from the United States and Europe to ensure that insurance companies operating in Mexico comply with the solvency margin, payment capacity, and control of expenses with hospitals and service providers.
In Mexico there are more than one hundred authorized and registered insurance companies that operate in an admitted and legal manner within the country. Thirty-three of these companies provide Mexican health insurance, which monitor and keep track of costs to maintain the prices of their policies within the ranges of inflation and do not increase premiums out of proportion as international policies do. In other words, historically, Mexican health insurance companies have more stable pricing than international health insurance companies.
Following are the main advantages of having your Mexican health insurance policy with an insurance company with operations admitted in Mexico.
Direct payment with private hospitals
Direct payment arrangements with hospitals tend to run smoothly. The cost of certain medical procedures and items for hospital bills is agreed beforehand by the hospital and insurer. All private hospital groups in Mexico work daily with registered insurance companies and offices in Mexico.
Controlled annual premium increases.
The Mexico health insurance annual cost increases are more controlled compared to the increases we have seen from international insurers. In private hospitals in Mexico there are always two offices that receive the payments from the insurance companies: one from companies registered in Mexico and another for the international insurance companies. The costs change from one and another, the same medical treatment increases in cost when there are sent to the international insurers. The cost of the same treatment they will send to an international company can be fifty or sixty percent higher than the one they send to a registered insurer in Mexico.
Medical services included.
Several Mexican health insurance companies include in their policies, among others, the following services:
Legal protection in case of complaint
All Mexican health insurance policies issued by insurers registered in Mexico are issued through insurance agents licensed in Mexico. Both the agents and the insurance companies are regulated by the CNSF, and in case of a claim, the insured has the protection of Mexican laws that oblige both insurers and the agent to comply with the insurance contract.
The National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF) is an effective body for the protection and defense of the interests and rights of users before financial institutions and is the one that receives complaints from users of insurance policies.
Insurance companies registered in other countries can be a solution, but they have the disadvantage that their annual premium increases are uncontrolled, ranging from20 to 40%, and not all have direct payment with private hospitals in Mexico. Although they may have shorter waiting periods for pre-existing conditions than Mexican policies, the combination of a travel or medical evacuation policy along with the Mexican health insurance policy during the first months is a good solution and gives total protection.
For more information contact us and we will gladly review your current insurance policy or if you do not have it, we will design one for you.