Buy Thai Health Insurance - Even if Not an Expat Yet?

[66traveler]

Probably a very stupid and odd question, and perhaps addressed before.  I'm 54, but if my plans go as hoped (which they certainly may not), I hope to retire in Thailand at around age 60.  I'm currently employed in the U.S. with good health insurance and visit my girlfriend in LOS multiple times per year; she may eventually come to the U.S. for a few years, but the long term plan would be for me to retire in Thailand.  I typically purchase travel insurance when I do visit Thailand (this was obviously pre-pandemic - I haven't been to LOS since November, 2019).  I have read that expat health insurance is quite expensive and difficult to find for those of us age 60 and over in LOS.  My question - would it make sense whatsoever to purchase health insurance for Thailand now, when I'm 54, with the expectation that my costs would not rise too dramatically when I hit 60?  Certainly related to this question - would any insurer (Thai or international) even insure me right now at age 54 if I don't permanently reside in Thailand?  I can and will get info from insurers on this topic but just wondering if anyone has ever had this idea, and if so, was it possible and did it make economical sense.

[Upnotover]

I had AXA Thailand health insurance for several years.  Each renewal I paid exactly the amount listed in their published pricelist for my age.  It never mattered that I had been insured for several years previously, it just went up according to their list.  If this is typical then it's hard to see an advantage in doing what you suggest, and I don't think that there is any problem getting insured at 60.

[Sheryl]

It is after 65, not 60, that the choice of expat policies significantly narrows. As for cost, that goes upo with age but getting a  policy earlier doesn't prevent that.

 

Where there is an advantage to getting a policy sooner is in avoiding the exclusions that may come later if/as you develop any chronic health conditions.

 

Exactly how much time do you (non-COVID) spend in Thailand and pay for travel policies? As that would help decide if it makes sense to get an expat policy instead.

[onebir]

32 minutes ago, Sheryl said:

Exactly how much time do you (non-COVID) spend in Thailand and pay for travel policies? As that would help decide if it makes sense to get an expat policy instead.

This makes me wonder: are there (valid for visa purposes) health insurance policies that can cover partial years (or be frozen while the insuree is outside Thailand)?

[rwill]

As others have said it's no problem to get insurance at age 60.  However, another consideration, is that if you have any preexisting medical conditions they will not be covered.  So if you don't have anything like high blood pressure, high cholesterol, diabetes, etc... now it might be beneficial to get it earlier.

[Sheryl]

13 hours ago, onebir said:

This makes me wonder: are there (valid for visa purposes) health insurance policies that can cover partial years (or be frozen while the insuree is outside Thailand)?

visa is an issue only for the O-A and O-X visas. No insurance requirement for non-O visa which is the preferrable path to retirement.

 

You can not "freeze" a policy. Some insurers might allow you to purchase for less than a year, you'd have to ask. But I doubt you could get an O-A with proof of insurance that is for less than one year.

 

If having to meet O-A requirements the best options are:

 

1 - get a "throw away" cheap policy (currently LMG 400K with a 200k deductible) and get separate, internationally issued "real" insurance.

 

2 - get an internationally issued policy that includes at least 40k will sign the required certificate -- this will enable you to get the visa but you will not be able to do an in-country extension so would have to get a new visa every 2 years.

 

3 - get a higher value local policy such as:

• Pacific Cross Maxima or Ultra
• AETNA  Platinum Plan (only possible up to age 65,  and no lifetime renewal unless you get the policy befire age 60 so really only a viable option if under 60))
• April Thailand (only possible to age 65) (although not on the "list" they are underwritten by LMG so will qualify)

The cost of #3 may exceed #1 - check on that first. Also note that the Thai-issued policies can raise rates individually based on claims history

 

 

 

 

[NancyL]

There is definitely an advantage to buying an international health insurance policy when you're still relatively young and healthy.  We retired to Thailand when Hubby was age 59 and one of the first things we did was to purchase an expat health insurance policy -- one that wouldn't drop us as we aged.

 

At that time, Hubby's health was perfect.  Annual check-ups, no meds, BP, BS, weight good, previous hospital stay was when he was born.  Easy-peasy for him to be insured.  Now he's aged 72 and has health problems that would probably make him uninsurable.  Oh, he has an O-A visa, too, so health insurance is now a must since he can't leave the country to change that visa to an O-visa.  Good thing he still has that health insurance policy that he obtained at age 59 when he "didn't need it".  

 

However, applying for an expat insurance policy several years before moving to Thailand didn't seem to make sense.  We just made sure our U.S. policy had a travel insurance provision and we kept it active until we got the expat policy after our move.

[Sheryl]

7 minutes ago, NancyL said:

There is definitely an advantage to buying an international health insurance policy when you're still relatively young and healthy.  We retired to Thailand when Hubby was age 59 and one of the first things we did was to purchase an expat health insurance policy -- one that wouldn't drop us as we aged.

 

At that time, Hubby's health was perfect.  Annual check-ups, no meds, BP, BS, weight good, previous hospital stay was when he was born.  Easy-peasy for him to be insured.  Now he's aged 72 and has health problems that would probably make him uninsurable.  Oh, he has an O-A visa, too, so health insurance is now a must since he can't leave the country to change that visa to an O-visa.  Good thing he still has that health insurance policy that he obtained at age 59 when he "didn't need it".  

 

However, applying for an expat insurance policy several years before moving to Thailand didn't seem to make sense.  We just made sure our U.S. policy had a travel insurance provision and we kept it active until we got the expat policy after our move.

Nancy how is he suing an international policy to meet OA extension requirements?

[NancyL]

2 minutes ago, Sheryl said:

Nancy how is he suing an international policy to meet OA extension requirements?

I wasn't clear.  I should edit the post.  He got one of those cheapie local policies that he has no intention of using as health insurance. 

 

However, the international policy does meet the Thai requirement for Covid insurance, should we decide to leave Thailand and re-enter during the time of Covid.  The local policy obtained for the O-A visa doesn't.