The health expenses that Mexicans have had to pay out of their pockets increased 40% from 2018 to 2020, that is, they had to spend more money from their income to pay for Medical consultations, purchase of medicines Y hospital care, according to Center for Economic and Budget Research (CIEP).
The average out-of-pocket expense that people make for health issues is around 3,300 pesos, according to data from the CIEP with information from inegi.
In Mexico there are financial tools that help Mexicans to defray health issues and that these do not represent economic suffocation when facing a medical emergency.
Insurance of medical expenses, hospitalization insurance or compensation, IMSS voluntary insurance payment, background for andmedical emergencies, are some mechanisms that can be adopted to have financial protection in health matters.
Medical expenses insurance. There are two types of medical expense insurance, major and minor. The minors are those who focus on health prevention. For example, general medical consultations, laboratory studies and ambulance transfers, among others. These types of products can cost from 5,000 pesos a year, depending on the company where you hire.
The major medical insurance offer accident coverage or serious illnesses Cancer, Covid-19 The heart conditions and they do not provide coverage for minor conditions such as flu. They cover hospitalizations, medical fees, medications, therapies, surgeries, among other things, depending on the additional coverage contracted.
The cost of these insurances is higher and depends on the age and sex of who hires it.
For example, for a 35-year-old woman with no children who lives in Mexico City, the insurance of major medical expenses It would cost between 15,173 pesos and 22,700, depending on the insurer you choose.
Indemnity insurance for hospitalization. This product can cost from 1,000 pesos a year for an insured sum of up to 50,000 pesos; 100,000 pesos or more depending on the company. They include coverage of daily rent for hospitalization Y funeral expenses.
With it, the insurer will pay the sum insured in the event that the contracting party of the product is hospitalized for more than two days.
A patient’s access to medical care is increasingly difficult in the public sector, and in the private sector the costs are almost inaccessible, reported Francis Rodriguez, Chief Growth Officer de Albo, financial services company.
For the Covid-19 case management, highlighted that the single application of a test to detect the virus makes a difference. It is free in a government institution, but it costs around 950 pesos in Dignified Health Laboratories, of up to 2,750 pesos in private hospitals and exceeds 3,000 in other laboratories.
“When someone in the family gets sick is when we really realize the high cost of health, especially when we have not set aside money for contingencies. We are in a period of high contagion, so it is suggested to be financially prepared for any emergency,” he said.
Health insurance for the IMSS family. According to Mexican Social Security Institute, it is a type of insurance to which families can voluntarily join, by paying annual installments in advance.
For example, the incorporation of a person from 0 to 19 years old costs 6,200 pesos per year; from 20 to 29 years old, 7,650 pesos; from 30 to 39, 8,250 pesos and from 40 years to 80 and over the cost ranges from 9,550 to 14,850 pesos.
With this Voluntary incorporation to IMSS, people have the right to medical, surgical, pharmaceutical, hospital and maternity care. As in private insurance, in this scheme there are also exclusions for pre-existing illnesses and it contemplates waiting periods for certain ailments.
In addition to some exclusions in cosmetic surgery, lenses, hearing aids, treatment of chronic conditions that require permanent therapeutic control, according to IMSS data.
For people who do not wish to register voluntarily with the IMSS, and who lack private health services, they can receive medical attention from the Institute, as long as they cover the costs that this generates.
For this year, it was established that the consultation with a family doctor is 969 pesos, the emergency care has a cost of 844 pesos, the day of hospitalization it can cost up to 10,761 pesos.
Emergency health fund. Regardless of whether you already have private health service, such as medical expenses insurance or in social security institutions, it is important to have a fund for medical emergencies.
Let us remember that, for example, in cases of major medical expenses, the deductible and coinsurance payment must be disbursed, so this fund can help cover these expenses.
How to do it? Registering a percentage of savings for this purpose within the biweekly budget of income and expenses, do it in this way until the amount that gives security or guarantee that the expenses derived from a medical emergency can be met.
“There will always be the possibility of getting sick or having a medical emergency. It is advisable to define a plan that allows you to take control of financial tranquility by having an emergency fund to attend to your own health or that of family members,” said Francisco Rodríguez, representative of Albo.