Wednesday, May 20, 2015

Returning Home After Retirement

Heading Back to Canada

The New York Times had an interesting article that covered immigrants in the USA returning to their home countries after they retire.  One of the subjects of the article struck home - a 59 year old lady returning to Canada.  One of her reasons was the lower cost of health insurance in Canada.

Health costs are certainly a worry here in the U.S., even with Obamacare.  Health insurance is costly when you are over 50 (350 to $1200 a month for a policy) and once you qualify for Medicare at 65, there is still a monthly premium of a few hundred dollars plus copays and coinsurance.

Canada is certainly more benevolent with its single payer system with no premiums, no copays, and no coinsurance.  There are higher income and sales taxes to pay for the health insurance, but the amount you pay depends on your income and spending.

Photo credit: Flickr

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