Health Insurance cancellation BUPA/Aetna

[yankee99]

I am wondering if anyone has had their thai health insurance premium rise or cancelled based on too many claims?

[Sheryl]

BUPA Thailand no longer exists, bought out by AETNA.

 

I haven't reviewed AETNA Thailand policy wording but most Thai insurers do raise rates based on individual claim history and changes in health status ("risk profile"). Not for all claims, just really big ones and health conditions that put the person at above average risk for future large claims. They do so because Thai insurance regs allow it. Most international policies do not for the same reason (the regulations they are governed by do not allow it).

 

Definitely there were people who found that their BUPA Thailand premium became unaffordable as a result.

 

Cancellation no, an indurance policy is a contract and they can't cancel it at will only as specified in the contract.

 

Insurances are businesses; if they are legally allowed to do something that helps their bottom line then they usually will do it. Which shows the importance of the regulatory environment. For example, there wasn't a policy to be found in the USA that did not exclude pre-existing conditions until government stepped in and put a stop to that.

 

 

 

Sent from my SM-J701F using Thailand Forum - Thaivisa mobile app

 

 

 

 

 

 

[yankee99]

36 minutes ago, Sheryl said:

BUPA Thailand no longer exists, bought out by AETNA.

 

I haven't reviewed AETNA Thailand policy wording but most Thai insurers do raise rates based on individual claim history and changes in health status ("risk profile"). Not for all claims, just really big ones and health conditions that put the person at above average risk for future large claims. They do so because Thai insurance regs allow it. Most international policies do not for the same reason (the regulations they are governed by do not allow it).

 

Definitely there were people who found that their BUPA Thailand premium became unaffordable as a result.

 

Cancellation no, an indurance policy is a contract and they can't cancel it at will only as specified in the contract.

 

Insurances are businesses; if they are legally allowed to do something that helps their bottom line then they usually will do it. Which shows the importance of the regulatory environment. For example, there wasn't a policy to be found in the USA that did not exclude pre-existing conditions until government stepped in and put a stop to that.

 

 

 

Sent from my SM-J701F using Thailand Forum - Thaivisa mobile app

 

 

 

 

 

 

ok just one more question they cant cancel it but since its a one year contract i assume they're not obligated to renew? 

 

Since ive had around 500k in claims im scared to use it risking no renewal or un affordable premium hike. 

[worgeordie]

I suppose it's like car insurance,have too many claims and they

are going to raise your rates,if they don't want to insure you they

will either tell you,or put the rates so high,they know you won't

accept.

"Since ive had around 500k in claims im scared to use it risking no renewal or un affordable premium hike." if you think like that what's the point of having health insurance.

regards worgeordie

[Sheryl]

1 hour ago, yankee99 said:

ok just one more question they cant cancel it but since its a one year contract i assume they're not obligated to renew? 

 

Since ive had around 500k in claims im scared to use it risking no renewal or un affordable premium hike. 

 

Every health insurance policy I have ever read -- and I have read many -- contains a provision for guaranteed renewal. Sometimes for life (assuming premiums paid) and other times up to a specified age. I have never seen one that lacked this clause.

 

Premium hike, if your policy is with Aetna Thailand, is possible but may depend on what the claims were for and how long you'd been insured with them prior.

[Sheryl]

1 hour ago, worgeordie said:

I suppose it's like car insurance,have too many claims and they

are going to raise your rates,if they don't want to insure you they

will either tell you,or put the rates so high,they know you won't

accept.

"Since ive had around 500k in claims im scared to use it risking no renewal or un affordable premium hike." if you think like that what's the point of having health insurance.

regards worgeordie

 

They can't tell you they "don't want to insure you".

 

Whether they can raise your rates (beyond across the board age related increases) depends on what the applicable regulations are (in most Western countries cannot, in Thailand can thoguh not to an unlimited degree, but I think they are allowed something like 25%, so a lot) and what it states in the insurance policy. The policy would have to specify that rates can be increased based on changes in health status or claims history.

 

Unfortunately most Thai policies do state this.