The CFO, with support from various groups, is advocating for Medicare and Medicaid portability for Filipino-Americans in the Philippines. This initiative aims to boost the Philippine economy by attracting retirees back home, while also providing a way for the U.S. to reduce healthcare costs. Notable figures, including Eric Lachica, assert that the proposal has gained congressional momentum and could transform the country’s healthcare landscape.
The Commission on Filipinos Overseas (CFO), alongside the Department of Health and other organizations, is advocating for the portability of US Medicare and Medicaid benefits for Philippine residents. Secretary Dante Ang II articulated the proposal’s advantage, suggesting that it could motivate more Filipino-American retirees to relocate to the Philippines, thereby boosting the local economy. This policy aims to enhance the appeal of returning home for overseas Filipinos, transforming the narrative from brain drain to brain gain.
CFO Secretary Ang emphasized the potential economic impact, stating, “It would be not only an economic stimulus for the Philippines, but I think also an answer to the solutions of the United States probably in looking for ways to cut their costs.” The initiative would allow Filipino-Americans to access healthcare in the Philippines, effectively reducing Medicare expenses while stimulating the economy.
Eric Lachica, of the advocacy group US Medicare Philippines Inc., affirmed that the proposal has garnered attention in Congress. The bipartisan bill H.R. 7442 has been introduced, backed by several sponsors, facilitating the legislative push for Medicare portability. Despite legal constraints that currently hinder this initiative, data shows that a considerable number of American seniors are already receiving Social Security payments in the Philippines.
Lachica shared personal insights, pointing out that many Filipino-Americans are eager to retire in their ancestral towns in the Philippines. His assertion that up to 70% of older Filipinos in America wish to return highlights a significant opportunity for cultural and economic exchange between the two nations. He expressed concern about existing Medicare coverage issues under U.S. law, stressing the need for changes to facilitate long-term healthcare benefits.
Health Secretary Ted Herbosa echoed the initiative’s alignment with the government’s goal of reversing brain drain. He noted the potential for retired healthcare professionals to enrich the local medical sector, as many have continued to develop advanced skills abroad. Enhanced involvement from these professionals upon their return could provide training and support for younger healthcare workers in the Philippines.
The proposed Medicare portability could also provide relief to the US healthcare system with rising costs. Lachica estimated that implementing this policy could save American taxpayers a substantial amount in healthcare expenses. Furthermore, the initiative positions the Philippines to become a key destination for medical tourism, offering Filipino-American retirees a more cost-effective healthcare environment.
The push for Medicare portability in the Philippines represents a strategic move to enhance economic growth by attracting Filipino-American retirees back to their homeland. This initiative not only offers potential healthcare cost savings for the US but also aims to develop the Philippine healthcare system through the return of skilled professionals. Overall, it presents a mutual benefit, influencing both nations positively in terms of healthcare accessibility and economic vitality.
Original Source: www.pna.gov.ph
