IESS Dilemma: Keep it or drop it?

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In mid-2022, the IESS began grappling with a severe economic crisis. This led to medication and medical supply shortages and prompted several doctors to retire. Patients wondered if they should continue their affiliation with the IESS. As an insurance expert, I’ve received numerous inquiries about this issue. The following should help individuals make informed decisions.
Assess your financial status.
The IESS costs approximately $80/person, which is affordable. In contrast, private insurance costs start at $100 and vary based on age and deductible. Thoroughly investigate insurance costs to determine if they fit within your budget before opting out of the IESS.
Consider pre-existing conditions.
The IESS covers pre-existing conditions, whereas private insurance typically only covers them after two years of affiliation, up to a maximum of $8,500/condition. If you have pre-existing conditions, it’s advisable to maintain both IESS and private insurance for at least the first two years to ensure continuous coverage.
Explore dual coverage options.
If your budget allows, consider obtaining private health insurance with a deductible of $2,000 or $5.000 while retaining the IESS for minor issues such as X-rays, annual check-ups, and basic tests. This dual coverage approach offers the benefits of private insurance while mitigating the financial burden of routine healthcare expenses.

Navigating the economic crisis at the IESS requires careful evaluation of individual circumstances. Each person’s situation is unique. If you require more information, contact us. We will find the best option for your needs so you can make a well-informed decision about your healthcare future.

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Daniela Cordero

info@cuencaexpatinsurance.com

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