Why Costa Rica Real Estate?
Healthcare
Easy Access
Hospitals, clinics and complete medical services are available in all major cities and some small towns. More than 90 percent of the population is covered by the Social Security System. There is either a public clinic or hospital in almost every area of the country, making medical care accessible to everyone including foreigners. Health insurance is national and is open for anyone. There is no exclusion to Costa Rican health care. Due to the fact that there is only one insurer, there is very little bureaucracy. There is no rules regarding which doctor you have to see or which hospital you can go to. There are over 100 hospitals in Costa Rica that are able to serve patients in need as the situation calls for.
Pharmacies are abundant and there are very few drugs that require a prescription. Because there are no companies that capitalize off of illnesses and treatments. Many safe drugs that require a prescription in the U.S. can be bought at low prices without any hassle.
Why Costa Rica Real Estate
- Stable government; Currency,Infrastructure,Values foreign investment, Protects foreign investment
- Investment security; excellent lending market, ROI, low tax rate, intrinsic value, insurable title/home
- Healthcare; high-quality, high tech, inexpensive, easy access, insurance
- Economic; stability, foreign investment, government, investment potential
- No ownership restrictions; valued by government, no restrictions, same rights as natives
- Proximity to the U.S.; 10 major North American cities with a 3-5 hour direct flight to Costa Rica
- Culture; high standard of living, friendliness to foreigners, education, low crime rate
- Nature; beaches, rainforest, protected lands and species, eco-tourism, diversity
The Buying process
- Finding a broker; certified, experience, track record, language, area knowledge
- Calculating value; comparative value, asking price, investment potential, true value, municipal
- Purchasing; incorporation, appraisals, home inspections, attorneys, contracts, survey map, registration, notary, taxes, titles, closing
- Financing; mortgages, documentation, banks, property protection, using retirement fund
- Types of properties; stand-alone house, apartments, gated communities, condominiums, timeshare
- Building; land & title, permits, size, utility of land, civil engineer, architect, construction, contractors
- Protecting the investment; insurance, making claims, property management
- Oceanfront real estate; defined, taxes, usage, foreign ownership
- Common & avoidable problems; liens & encumbrances, expropriation, environmental & squatters
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Why Costa Rica Real Estate?
Healthcare
Inexpensive
Costa Ricans are proud of their nation's achievements in the field of health care. Their up-to-date, inexpensive, nationalized cradle to grave health care system reaches all levels of society by offering the same medical treatment to the underprivileged as those who are wealthy.
Many international medical authorities rate Costa Rica as having one of the best low-cost medical care systems in the world, when preventive and curative medicines are considered. The United Nations consistently ranks Costa Rica's public health system as the best in Latin America and one of the top 20 in the world.
There is no surprise why large numbers of foreigners are attracted to Costa Rica's affordable health care. In the United States, for example, millions of people do not have health insurance because it is prohibitively expensive. For this reason, Costa Rica attracts many retirees and medical tourists from the U.S. It doesn't matter if you are a legal resident or a tourist. Everyone is entitled to urgent care at a government hospital and full coverage and comprehensive health insurance plans are very affordable.
Costa Ricans are a healthy people. Life expectancy is 76.3 years for men and 79.8 years for women. Today, an 80-year-old man has a life expectancy of at least eight (actually, 8.4) years. This puts Costa Rica in first place in the world for life expectancy from this age up. The infant mortality rate of less than 11 in 100,000 live births is lower than that in the United States. This figure is on par with any industrialized country in the world and is a testament to the first rate healthcare provided by Costa Rica.
Hospitals have the most up-to-date tools, and laboratories are exceptional. One should feel safe having almost any operations without having to return to the United States or Canada. Most surgical procedures cost only a fraction of what they do in the United States. For example, a heart bypass operations costs about a third of what it does in the United States.
Even if you are in good health, the probability of needing medical care increases with age. The security of knowing that good health services are available represents an enormous relief.
Costa Rica Real Estate FAQ Index Catalog
Why Costa Rica Real Estate?
Healthcare
Insurance
Most foreigners and retirees opt for the medical insurance offered by the government's insurance company the National Insurance Institute or INS. Everyone is eligible to apply, including permanent residents, pensionados and even tourists. Elderly people have to submit to a physical before they can be insured. The medical policy covers expenses resulting from illness, accidents, hospitalization, office visits, lab work, medicines and medical costs in foreign countries. However, if you incur medical expenses abroad, INS will pay only the amount equivalent to the same treatment in Costa Rica and you have to pay the difference.
When you purchase a policy, INS will supply you with an identification card and a booklet that lists the names of affiliated groups such as hospitals, doctors, labs and pharmacies. Most surgical procedures are covered 100 percent. You pay a small deductible for office visits, labs, medicines and treatments. If you seek medical services not affiliated with INS, you have to pay up front. You then submit a claim to INS and will be reimbursed in a few weeks.
Depending on age and sex, the annual cost of this insurance is about $800 for a man 50 to 69. For example, rates for a man 18-39 year s old run about $250 per year; $1,800 for a 70-year old man ; and women of all ages pay an average annual rate of about $1,500. Women of childbearing age pay slightly more than men. There is a discount if more than one person is insured on the same policy. It is easy to enroll an entire family for a low monthly rate. If you belong to a group of 15 or more people such as the Association of Residents (ARCR) or the American Legion you can obtain an approximately a five percent discount.
There is a ceiling of around $17,000 per individual. Since medical costs are so low in Costa Rica, this policy is more than enough to take care of your medical needs. Retirees and other residents need not worry about lacking adequate medical coverage in Costa Rica. For information, go to the ARCR or contact them at: (Tel: 233-8068, Fax: 011-(506) 222-7862) or see http://www.arcr.net. You can reach the National Insurance Institute at 223-5800.
INS now offers a new international insurance policy that covers your needs in Costa Rica and the rest of the world. This new medical policy covers medical expenses resulting from accident or sickness. Here are some of the items covered: hospitalization and ambulance expenses, maternity, prosthesis, organ transplants, air evacuation, repatriation of remains, funeral costs and a yearly check-up and eye test. The rates are high but the coverage is very complete.
Why Costa Rica Real Estate?
Healthcare
High Quality
Statistics from the World Health Organization's "The World Health Reports" are done annually and consistently show Costa Rica at or near the top in all major health categories. Some reasons for this can be found in the Costa Rican laid back lifestyle, the healthy fresh foods of the country and the tropical climate. Costa Rica seems to be a healthy place to live with all other factors aside.
However, into in order to understand the statistics, one must look to the major factor. Look at Costa Rica's long term commitment to affordable and accessible health care and the government's dedication to providing one of the finest health care systems in the world, for each and every citizen to take advantage of.
Day to day healthcare advantages: Prescriptions are not needed on most products in Costa Rica. You can take a 90-day supply back to the USA. You'll save up to 80%, compared to U.S. drugstores.
Costa Rica is a world leader in medical education. Costa Rica's medical and nursing fields provide a great personel resource for the health care system. With a government - sponsored network, of over thirty hospitals and more than 300 clinics, throughout the country, the Caja Costarricense de Seguro Social (CCSS) has primary responsibility for providing low cost, health services, to the Costa Rican population. Foreigners living in Costa Rica, can join the CCSS by paying a small monthly fee, based on their income or they can buy health insurance, from the State monopoly Instituto de Seguro Nacional (INS), valid with over 200 affiliated
doctors, hospitals, labs and pharmacies, in the private sector.
Two well-known private hospitals, Clinica Biblica and Clinica Catolica, where many CCSS doctors practice in the afternoons and evenings, offer first-class, ultra modern services. Affiliated with U.S. hospitals, these two private providers, have costs somewhat higher than the public providers, but still way below anything
found in the States. Most Costa Rican doctors and dentists receive their basic medical training in Costa Rica. From here, they travel far and wide, seeking specialized training from the finest teaching hospitals in the world, often becoming certified in their specialties, in the countries where they receive their advanced training.
Why Costa Rica Real Estate?
Healthcare
High Tech
Over 16% of Costa Rican tourists surveyed in a 2008 study at San Jose Airport claimed that the main reason they came to Costa Rica was for medical procedures. Not only cheap and easily accessible to foreigners and locals alike, Costa Rica's medical and dental industries are some of the most highly advanced in the world. The statistic above is the result of the phenomenon known as "medical tourism". Medical tourism is when some one from a foreign country, typically the U.S., comes to Costa Rica for medical procedures and couples it with a nice tropical Costa Rica vacation. Medical tourism is most commonly practiced for elective surgery, cosmetic surgery and dental work. With the price of the procedure, flight and hospitality factored in, the total bill is still significantly lower than getting it done in the U.S. Advanced resources and medical innovation has allowed Costa Rica to become a leader in medicine throughout the world.
Even for those that do not take advantage of medical tourism find ways to take advantage of the high-tech and simplified medical system by bringing back to the U.S. pharmaceuticals at 80% to 90% of the U.S. cost.
Costa Rica has attracted hundreds of millions of dollars in investment from some of the best-known names in technology, including Intel Corp., Hewlett-Packard Co. and Microsoft Corp. Medical device makers and pharmaceutical companies are embedding themselves all over the country. And the nation is becoming a hub for these industries. Technology and medicine go hand in hand in Costa Rica. Heavy government investment in their state run medical system pays off each and every day.
