Cost of Health Insurance in Mexico As You Get Older
When you purchase health insurance in Mexico, the following factors impact the cost:
✓ Coverage area – Worldwide / Worldwide Excluding the US / Mexico-Only
✓ Plan benefits – Maximum annual or lifetime coverage limits, etc.
✓ Age at the time of application
✓ Sex – Male or Female
✓ Additional riders for life or travel insurance
You can expect annual premiums for health insurance plans in Mexico to increase from year to year. This is true of any health plan with any health insurance carrier.
Health insurance renewal rates may increase for the following reasons:
✓ Age of Member
✓ Medical Inflation – medication costs & hospital supplies & equipment.
✓ Claims for the previous year – calculated based on all claims processed in the coverage area, not individual claims.
Health insurance members can assist in this process by adopting a pro-active stance in their health care.
Here are some key terms to remember:
Official Receipt = Factura Fiscal.
Generic Tax Id Number for Individuals not Working in Mexico – RFC Genérico (required to issue a Factura).
Itemized Bill = Estado de cuenta con desgloce de cobros.