Free Healthcare for British Expats in Spain by 2013

British Expats that have relocated to Spain will be able to claim back medical care costs on the NHS from 2013.

London, UK (Pryce Warner International) April 20th, 2011 - A new Cross Border Healthcare directive will allow patients to have elective surgery at a state hospital where they live instead of having to travel back to the UK.

The Directive was initially meant to be implemented in 2011 but was held up due to disputes between nations. However, it is now expected that all countries involved will have signed up by 2013.

A controversial issue has been whether or not patients using the system should be fully or partially reimbursed. The UK has managed to resist paying the full cost of treatment, and will only pay what the equivalent procedure would cost in the U.K.

This is good news for Expats in Spain who have been hit hard by the devaluing Sterling and property woes.

Recent reports suggest that many British Expats have returned and still are returning to the U.K. from Spain. However this latest news as well indicators that the Spanish property market is starting to recover perhaps means that many will reconsider returning, while those already in the U.K. may feel more able to move abroad.

British citizens that move abroad or already live abroad would still do well to take advantage of many Expat specific tax wrappers (QROPS, QNUPS) and investment strategies that can help fund any potential medical costs not covered by the NHS, as well as ease their tax burden and ensure their long-term financial security.

David Harra, a Senior Market & Invesment Analyst with Pryce Warner International Group, a Respected Financial Services Group who are specialists in the Provision of Pension Plan & Asset Management for Expatriates Worldwide commented: “It is good news that Expats will now be able to reclaim some of the cost of medical care, but it is unfortunate that the directive is not more all encompassing, only elective procedures are covered. Finding and funding adequate healthcare overseas is a high priority for those moving abroad and this directive should do more to make things simpler. Luckily, many expats will be able to take advantage of several Expat specific tax wrappers than can help ease these burdens. Pryce Warner International Group has over 35 years helping clients through this often difficult process.”

Pryce Warner International Group provide International Asset & Investment Management, Independent Financial Advice & QROPS Overseas Pensions.

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By: Aneil Fatania
Financial Editor
Pryce Warner International Group
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