Worldwide Select - The Health Insurance Coverage You Asked For

What is WorldWide Select? The newest International Health Insurance Coverage available for sale in the Republic of Panama. This Policy is underwritten by WorldWide Medical Assurance, Ltd., a Panamanian Insurance Company with offices at the brand new Global Bank Building in Calle 50. The Policy is registered at the Superintendent of Insurance office and can be sold legally to residents of Panama.

Will WorldWide Select cover Expats living in Panama? Yes, this Health Insurance Policy was designed to provide Major Medical coverage for this growing market of English speaking residents, who will need protection in Panama in case of serious and expensive medical treatments. Policy covers up to $2 million dollars per person per year. (more...)

Will WorldWide Select cover me just in Panamanian Hospitals? The coverage provided is world-wide, Panama, Central America, US, Canada, Europe … all over the world.

Inpatient and Outpatient coverage? This Policy was design to cover charges for Hospitalizations in Panama, the US and Canada. Worldwide Select will not cover Outpatient expenses in Panama, such as doctor’s visits, medicines, etc. “Buy Major Medical coverage only and save the difference” … to pay for outpatient visits and medicines on your own.

Can I choose a US or Panamanian Hospitals? Yes you can. Insurers who seek Hospital treatment in Panama will NOT have to pay a deductible, and WorldWide Select will cover 90% of all Hospital Expenses in Panama (Room, Doctors, Medicines, Surgical procedures, Labs, etc.). Insurers Hospitalized in any of the 4,000+ participating US Hospitals network will have to cover a deductible first (i.e. $5,000.-) and then the Policy will cover 90% of the first $25,000.- in charges and 100% of the rest up to $2 million per person.

If I am in critical conditions and require treatment in a US hospital, will the Policy cover Air Ambulance? Yes. The Policy will cover up to $25,000.- to transport the Insured to the nearest US Hospital or medical institution equipped to treat the condition affecting the insured.

Can you provide the names of five Hospitals in the US and in Panama that will accept my WorldWide Select Policy? In Panama: Punta Pacifica Hospital (affiliated with John’s Hopkins), Paitilla Hospital, San Fernando Hospital, Hospital Nacional, Hospital Chiriqui. In the United States: The Cleveland Clinic (Cleveland), John’s Hopkins Hospital (Baltimore), Barnes Jewish Hospital (St. Louis), Baptist Health South (Miami), MD Anderson Cancer Center (Dallas), just to name a few. The list is 4,000+ Hospitals in the U.S.

What is Medical Underwriting? When you apply for coverage you have to fill out a health statement questionnaire for each member of the family. Based on the information you provide the Insurance Company will:

• 1- Accept all or certain family members.
• 2- Accept certain family members with limitations.
• 3- Increase the price by changing the rate fm “preferred” to “standard”.
• 4- Exclude certain “preexisting conditions” or
• 5- Decline the application

More than 60% of all applications are accepted without been up rated or having exclusions.

What is an exclusion or preexisting condition? The Underwriter at the Insurance Company may accept an application but exclude coverage for ”preexisting conditions”. For example, you may have had recent knee surgery and the insurance company will accept your application excluding all claims related to your injured knee. Such exclusions may last for a specific period or time or the life of the Policy.

I am 67 years old. Can I apply for coverage? Yes. Up to the age of 65 the company will accept and process applications. Those ages 66 to 70 the Company will accept applications subject to approval of Re-insurer, on a case by case basis. The Company will not accept applications after reaching age 71.

At what age does coverage stops? Once accepted, the Policy will renew for life, as long as the insured pays the annual premium and maintain his status as a non US or Canada resident.

I am living in Canada. Can I apply for coverage? No. Insured can not reside in the United States or Canada. Insured must reside for at least 9 months out of the year, outside of the United States or Canada. This Policy is available for residents of Panama and other Latin American countries.

How does age, gender and tobacco use affect the price of health insurance? The older you are the higher the cost of the Policy. Gender has less impact except if there is maternity coverage. Tobacco use may increase the cost of the Policy.

How do I know I am getting the best price? This Policy was designed for Expats living in Latin America. Premiums for similar Health Insurance coverage in the US will be 50% to 100% higher. Why? Because, in most circumstances, Expats residing in Panama will seek medical treatment in a local private Hospital, which will probably be HALF the cost of a US Hospital. And, best of both worlds: WorldWide Select has NO DEDUCTIBLE for Hospitalizations in Panama, which may save the insured an extra $5,000.- (the deductible in the US).

How long does it take to apply? When will my effective date be? You can print the application online (www.panamaexpatcenter.com or www.panamakevin.com) and fax it (263-3380) or you can visit the Insurance desk at the Panama Expat Center in El Cangrejo. Once a completed application is received by the insurance Company, it typically takes two weeks to be accepted. Effective day will the first day of next month.

Will I be covered on the date the Policy is issued? Yes if you can show you are currently covered in another International Health Insurance Policy. Otherwise, during the first four months of coverage, only charges incurred as a result of an Accident or Infectious Disease will be covered, if the incurred date is on or after the effective date of coverage.

Can I change my mind after I apply? Yes. The company will reimburse the premium to the insured if he decides to cancel the Policy within ten days after the date he receives the Policy.

Where do I apply? Call the Expat Center (263-4356) to make an appointment. Keep in mind your recent medical history (last 10 years). Preexisting conditions? You should disclose the condition, type of treatment, medications, name of attending physician, dates, and degree of recovery. Applications are in Spanish because WorldWide Assurance is a fully licensed Panamanian Company. The Insurance desk at the Expat Center will help you fill out the application and explain the coverage.