Although the conditions set forth in the Affordable Care Act prevent health insurance companies from denying or capping coverage for high-risk policyholders, the costs within the health care field can be too high for many expectant retirees to shoulder, despite lower out-of-pocket costs for copayments, coinsurance and deductibles.
“I think Americans will still travel overseas, particularly if someone selects a bronze plan under Obamacare, as the out-of-pocket would be huge,” Howard surmised.
Aside from the continued savings outlook that medical tourism provides U. S. patients, experts are confident that the health industry abroad will actually benefit from the implementation of Obamacare for a couple of reasons:
1. Fewer Doctors Available
Josef Woodman, CEO of Patients Beyond Borders, told Travel Market Report. “You can’t have 30 million Americans entering our already broken system without a tradeoff in the form of longer waits for specialty care.”
This influx of new patients coupled with a shortage of doctors in the United States is expected to result in a time-suck for individuals who are in need of immediate and efficient medical assistance.
2. Private Companies Looking to Save Money
Avoiding long wait lists for kidney donors and surgical procedures is one of the justifications for a thriving medical tourism market; the other advantage is lower costs for companies that sponsor health insurance for their employees.
HSM, a manufacturer in North Carolina, is one of the many companies that encourage employees to undergo costly medical services across U. S. borders. The company reported that this medical alternative has saved it nearly $10 million in the last five years.