@sunilpeters
costs depends where you wanna live and there are huge diferences.
La Paz's South zone, so called "zona sur" is full of gringos and foreingers.. prices are similar to u.s. when a basic salary is about 300 dollars
you can find nice apartments for 200 dollars per month or "anticretico" that is a contractwhere you give an amount of 5.000 or more dollars depending on apartment's size and receive the use of the apartment for 2 years. after that, if you or owner decide finish the contract, you'll have your money back and he will have the apartment back. Of course you'll have to paint, clean and fix something but ALWAYS check the situation and ask a written contract. NEVER NEVER NEVER trust people here.... you could be the 5th paying for same house and get nothing.
health system is private, there are insurances from 40 dollars per month... a lot depend on your health conditions. maybe check in your country BUT read well allowed countries list, conditions, etc.
Visa is one other theme.. as a tourist you can stay maximum 2 periods of 90 days per year
i'm italian, 9 years here and help foreigners with burocracy, visa, house, etc. feel free to contact me!