No insurer I've seen will touch you once you hit 75, so it's pretty pointless — and if something happens in the next 12 months, they'll find a loophole anyway. You have only one option: self-insure. Keep the money, and you'll need a lot — something like 1 to 2 million pesos in an interest-earning account. Not in a Philippine bank. Just make sure someone you trust completely can access your passwords in case you're incapacitated, or have a high-limit credit card.

If you're retired from the States, I highly recommend keeping your Medicare, since it's deducted before you even see your pension. As soon as you can, open a savings account with a debit card attached and put a few hundred thousand pesos in it as an emergency fund. Maintenance and routine visits at private clinics are relatively cheap, and so are most medications. A good doctor can help you stay ahead of potential problems, but as we all know, major issues will come eventually. Being able to go back to your own country for major treatment under Medicare can be a lifesaver. None of us knows what will happen, so I guess you should do whatever suits your situation. There's been talk of a Medicare portability act for a while, since many OFWs who paid into Medicare while working in the States would like to retire in their home country and keep that coverage.

Get PhilHealth — it's inexpensive and covers a significant amount. Meanwhile, save for whatever it doesn't cover.

You'll just get people telling you what they do. It's a decision you have to make based on your own health and finances. I will say, though, that even with insurance, a lot of places don't know what to do with it, so you'll still end up paying cash to get discharged. Personally, I pay as I go and pray for the best. If not, I'm ready to die here — I already have my tomb.

I'm actually a health and Medicare broker, and I've lived in the Philippines on and off for the last three years after marrying a woman from Leyte. Your Medicare does nothing for you in the Philippines. You can self-insure for simple visits, but you need something in place for the big things like hospitalization, possible future chronic conditions or surgeries. Even though it's much cheaper than the US, you could still face substantial costs if you're hospitalized or get something like cancer. And you definitely want to be able to go to private hospitals.