In short
- There's no single price: it mainly depends on your age, the deductible you choose, local or international coverage and how many people you include.
- In 2025, insurers in Panama collected about US$1,200 per insured person per year in health premiums, on average, across individual and group plans.
- The healthiest way to lower your premium is a higher deductible, not a lower annual maximum.
What drives the premium
When I quote health insurance, these are the factors that move the price, roughly from most to least important:
- Your age. The biggest factor. Premiums go up by age band, and past a certain age some carriers stop accepting new applicants.
- The deductible. What you pay before the plan starts paying. Plans in Panama range from deductibles of B/. 500 up to B/. 15,000 (the balboa is on par with the US dollar). The higher the deductible, the lower the premium.
- Local or international. A Panama-only plan costs considerably less than international major medical with worldwide coverage. Adding the US raises it further.
- How many people. Each dependent adds their own premium based on age.
- Maternity and extras. Maternity, dental or vision benefits raise the premium or only come with certain plans.
- Your current health. Pre-existing conditions may be excluded, covered with an extra premium, or covered after a waiting period.
What people pay on average
According to official figures from Panama's Superintendency of Insurance and Reinsurance, health insurance in 2025 totaled US$558 million in premiums for 461,686 insured people. That works out to roughly US$1,200 per person per year, or about US$100 a month.
That average blends individual and group plans, young and older people, local and international coverage, so treat it as a market reference, not your price. A young person on a local plan with a mid-range deductible may pay much less; a 60-year-old with international coverage, much more.
Source: Superintendency of Insurance and Reinsurance of Panama, 2025 market statistics.
The number that matters isn't just the monthly premium: it's what you'd pay out of pocket the day you need surgery.
How to lower your premium without being underinsured
- Raise the deductible if you have an emergency fund. It's the most effective lever: you pay less every month and stay protected against the big bills.
- Don't cut the annual maximum. Given what a hospital stay or surgery costs in Panama, a low limit is what leaves people in debt.
- Go local if you get care in Panama. If you don't travel often, international coverage may mean paying for something you won't use.
- Apply early. The younger you are, the cheaper it is and the easier it is to be accepted without exclusions.
- Compare carriers. The same profile can be priced differently by each company. That's exactly what I do as a broker, and my advice costs you nothing.
What I need to quote you
With five details I can give you two or three options with real prices the same day: each person's age, local or international coverage, the deductible you're comfortable with, whether you need maternity, and any health conditions.
What would you pay?
I'll quote you with several carriers and show you the options side by side. Free, no obligation.