The CFO, alongside health and retirement authorities, is advocating for U.S. Medicare and Medicaid benefits to be portable in the Philippines. This push aims to encourage Filipino-American retirees to return home, bolstering the Philippine economy. The initiative could reduce U.S. healthcare expenditures and promote economic growth, with significant support noted in Congress. The proposal seeks to transform the Philippines into a viable destination for medical tourism.
The Commission on Filipinos Overseas (CFO), in collaboration with the Department of Health, Philippine Retirement Authority, and Filipino-American advocacy groups, is advocating for the portability of U.S. Medicare and Medicaid benefits in the Philippines. CFO Secretary Dante Ang II highlighted the dual advantages of this proposal, framing it as beneficial for both the U.S. and the Philippines. Implementing Medicare portability could prompt more Filipino-American retirees to return to the Philippines, thereby bolstering the local economy.
This initiative stems from a desire at CFO to encourage overseas Filipinos to consider returning home, as articulated by Secretary Ang, who said, “Why CFO is doing this? It is because we want the Filipinos overseas to consider returning home.”
Ang expressed optimism about the initiative’s feasibility, indicating it could serve as both an economic stimulus for the Philippines and a method for the U.S. to reduce healthcare costs. He noted that allowing Filipino-American citizens access to healthcare in the Philippines would lower U.S. Medicare expenditures while promoting economic growth in the country.
Eric Lachica, the lead advocate of US Medicare Philippines Inc., claimed that the initiative has gained significant traction in the U.S. Congress. He referenced a bipartisan bill, H.R. 7442, which aims to study Medicare portability, with sponsorship from relevant Congressional leaders, including Congressman James Moylan from Guam and Congressman Bobby Scott from Virginia.
According to data from the U.S. Social Security Administration, over 35,000 American seniors received Social Security payments in the Philippines as of July 2022. Lachica stated that Medicare portability could make the Philippines an attractive retirement destination, allowing more Filipino-Americans to retire there at lower healthcare costs while simultaneously aiding the Philippine economy.
Lachica emphasized that many Filipino-Americans desire to return to their roots, with a significant portion of the population aiming to invest in their home country during retirement. He also highlighted a challenge within U.S. law concerning Medicare coverage for citizens residing abroad, stating, “Our problem is that under U.S. law, Medicare law, if we lose our U.S. residency… our Medicare coverage gets cut.”
Health Secretary Ted Herbosa supported the initiative, linking it to the broader governmental goal of combating “brain drain” by encouraging highly trained Filipino healthcare workers to return to the country. Herbosa pointed out that this could enhance the local medical sector, as returning professionals would be able to share their expertise with local healthcare providers.
Lachica further argued that the proposed policy could ease the financial pressure on the U.S. healthcare system, potentially saving American taxpayers significant funds amid rising healthcare costs and federal budget cuts. The CFO envisions this initiative will position the Philippines as a prominent medical tourism destination, offering a more affordable healthcare option for Filipino-American retirees.
The initiative to allow Medicare and Medicaid portability in the Philippines represents a strategic collaboration between Filipino-American advocacy groups and Philippine agencies, aiming to foster the return of overseas Filipinos. This could stimulate both the Philippine economy and U.S. healthcare savings, fulfilling mutual benefits for all stakeholders involved. Creating a more accessible and cost-effective healthcare model not only attracts retirees back home but also rejuvenates the local healthcare landscape.
Original Source: www.pna.gov.ph
