Possible Medicare Savings from Foreign-born United States Retirees.

By Jose Owen R. Diaz, CFP

Estimated

Year 2011 U.S. Medicare Savings

Year

Ethnicity

Mexicans

Chinese

Filipinos

Indians

El Salvador

Vietnam

Korea

TOTAL

 U.S. Dollars

2000

Population Group

Age 65 and over

20,640,711

809,842

2,432,685

235,995

1,850,314

164,768

1,678,765

66,834

655,165

17,324

1,122,528

58,241

1,076,872

68,505

29,457,040

1,421,509

2007

Foreign-Born

Age 65 and over

11,739,00

868,668

1,930,000

252,909

1,701,000

176,629

1,502,000

71,635

1,104,000

18,580

1,101,000

62,436

1,043,000

73,384

20,120,000

1,524,242

2010

Foreign-Born

Age 65 and over,

 at 10% returning to their country of origin

29,347,500

2,611,928

261,193

2,895,000

257,655

25,766

3,634,000

323,603

32,360

3,214,280

286,071

28,607

2,362,560

210,268

21,027

2,356,140

209,696

20,970

2,232,020

198,650

19,865

46,041,500

4,097,870

409,787

2011

Based on medical cost in Phil.[1]

Foreign-Born Age 65 and over,

at 10% returning to country of origin.

At 15% returning to country of origin.

2,636,044

263,604

305,407

259,861

25,766

38,979

327,556

32,756

49,133

290,121

29,012

43,518

212,131

21,213

31,820

211,507

21,151

31,726

198,405

19,841

29,761

4,135,626

413,563

620,344

  2,787,414,620[2]

  4,181,118,560

    A

    B

Statistically projected average of five years in the Philippines.

Net Savings plus Saved Interest at 2.5%

Average U.S. savings per retirees living in the Philippines.

49%

$6,740[3]        

Table 2

SAMPLES OF MEDICAL COST IN SOME CITED COUNTRIES

All medical cost quotes in U.S. Dollars (Aug.3, 2010) are from allmedicaltourism.com

Procedure

USA

Mexico

China

Philippines

India

El Salvador

Vietnam

South Korea

CT Scan

1,250

575

300[4]

250

                  140

MRI Scan

1,104

575

3301

               250

                  650

PET Scan

             7,200

800

                   890

Cyberknife Cancer Therapy

17,975

      16,500

           12,000

     11,270

         12,000

              13,500

Radical Prostatectomy

25,300

      10,000

       9,350

            7,000

               10,220

Bladder Cancer/Radical Cystectomy

             1,750

        1,100

       1,100

675

                 1,450

LASIK Eye Surgery

             4,400

           400

               500

Knee Arthroscopy

             6,900

4,446

       2,600

                 9,360

Knee Rplacement

           20,800

      13,375

     10,400

            7,142

               15,600

Hip Replacement

           16,662

        8,000

       5,173

            6,950

                5,890

Heart Valve Repair

           60,000

      15,500

       9,600

          11,666

               24,700

Cataract Removal

             7,920

       6,000

Angioplasty

           48,250

      11,666

     10,347

            7,175

                 6,875

Total Cost of Procedures

         219,511

      88,137

     59,840

          54,408

               89,275

Medical Procedure Cost Savings

58%

33%

72%

73%

57%

J. Owen R. Diaz, CFP

Proposal to help reduced Medicare cost.

August 11, 2010