Retirement NON-O - Delay of Money Transfer

[night_rider]

I am over 50 and seeking to come to Thailand for a long stay. I've been looking at the Non-O, OA and STV visas.

 

Somewhere in my brain I recall reading that on a Non-O I could submit a copy of my bank account from my home country to satisfy the 65/800 requirement for the first extension of stay. This would effectively give me 15 months or so before I'd have to move funds into Thailand.

 

I'd appreciate experience, corrections and links if this rings a bell for anyone.

 

I'm aware I can seek out an agent but I wanted to pursue this option for now.

 

Thanks in advance for you input.

[EricTh]

For Non-O, you have to move the 800k to Thailand for at least 2 months before the first extension. You can't submit your home country's bank statement for non-O visa.

 

I think that's for non-OA, but there are other tougher requirements for non-OA like health insurance.

Edited October 26, 2021 by EricTh

[Lite Beer]

Applying for a Non O Visa and subsequent 12 month extension in Thailand require the money to be in your Thai bank.

 

You can get a Non Imm O-A Visa in your country with the money in your local bank.

This would need the rip off health insurance though.

[Danderman123]

1 minute ago, Lite Beer said:

Applying for a Non O Visa and subsequent 12 month extension in Thailand require the money to be in your Thai bank.

 

You can get a Non Imm O-A Visa in your country with the money in your local bank.

This would need the rip off health insurance though.

I don’t know why you call health insurance a rip-off. Those eligible for a non-O visa are older, and have a reasonable probability of requiring medical attention in coming years.

[Sheryl]

For both  visa types the money must be in country to do an incountry extension. 

 

With the OA visa you can get up to 2 years stay (assuming borders are open as you'd need to leave & reenter to get the second year). For that initial visa and the up to 2 yrars it allows no need to move funds to Thailand. But aftet that to extend incountry you'd have to.

 

Note the special health insurance requirements specific to O-A visa.

[Sheryl]

Just now, Danderman123 said:

I don’t know why you call health insurance a rip-off. Those eligible for a non-O visa are older, and have a reasonable probability of requiring medical attention in coming years.

It is not health indurance per se that is a rip off. It is the way the specific visa requirement is designed that is.

[Danderman123]

5 minutes ago, Sheryl said:

It is not health indurance per se that is a rip off. It is the way the specific visa requirement is designed that is.

Please explain.

[skatewash]

1 hour ago, Danderman123 said:

Please explain.

What's wrong with the Thai Immigration imposed health insurance mandate?

1.  Must be provided by one of a limited number of Thai insurance companies:

https://longstay.tgia.org/home/companiesoa

2.  Must be 400,000 baht inpatient/40,000 baht outpatient coverage.  

Outpatient coverage is very expensive and largely unnecessary, especially if your view of insurance is that it should provide for protection against catastrophic events not routine expenses.

3.  Must be coordinated with the start and end times of your extension of stay.  When you apply for your extension of stay you must demonstrate coverage for the whole period of your extension.  An example of potential problem.  You apply for your extension of stay 45 days in advance of the current permission to stay expiring.  Normally you would be given a permission to stay of one year and 45 days.  However, because the insurance mandate you must demonstrate that you have coverage for one year and 45 days otherwise you will only be given permission to stay until your insurance coverage expires.

It conflates getting your permission to stay in Thailand with your health insurance coverage, two things that are completely unrelated now must be synchronized according to the rules of the immigration department.

4.  At a certain age you will no longer be able to find coverage at any price from one of the approved Thai insurance companies.

5.  During the validity of your Non-OA visa any time you enter Thailand you will be stamped in for a year, requiring you to demonstrate that you have 12 months of insurance coverage from the day you enter Thailand.  Failing to demonstrate that gets you stamped in with a permission to stay of shorter duration that matches your current health insurance coverage (that is, your permission to stay expires on the same date as your insurance coverage ends).

Edited October 26, 2021 by skatewash

[night_rider]

I did see a Liberty Mutual policy to cover the requirement for B6000 but with a 200k deductible 

[ubonjoe]

8 hours ago, skatewash said:

2.  Must be 400,000 baht inpatient/40,000 baht outpatient coverage.  

That recently changed to apply for a Non-OA visa at a embassy or official consulate. It is now $100,000 coverage of medical expenses and corvid 19.

[murraynz]

11 hours ago, Danderman123 said:

I don’t know why you call health insurance a rip-off. Those eligible for a non-O visa are older, and have a reasonable probability of requiring medical attention in coming years.

And the risk that insurance Co. Actually pay out for any claims, are very high.. 

[Danderman123]

24 minutes ago, murraynz said:

And the risk that insurance Co. Actually pay out for any claims, are very high.. 

I haven’t heard horror stories of major carriers not paying legitimate claims.

[Sheryl]

4 hours ago, ubonjoe said:

That recently changed to apply for a Non-OA visa at a embassy or official consulate. It is now $100,000 coverage of medical expenses and corvid 19.

But apparently still inpatient AND outpatient...all outpatient not just the high cost outpatient things like chemotherapy and dialysis, day surgery etc.

 

The outpatient part is the problem. That and the fact that:

 

1. Most Thai companies will not issue new policies to people over 65, and none will do so after age 75, making it impossible for much of the target group to comply with the requirement.

 

2. Foreign policies effectively cannot be used due to the wording of the required "Foreign Insurance Certificate".

[aBigSmile]

18 hours ago, Danderman123 said:

I don’t know why you call health insurance a rip-off. Those eligible for a non-O visa are older, and have a reasonable probability of requiring medical attention in coming years.

10% premium is a rip-off by any standard. 

[pablo el sueco]

17 hours ago, skatewash said:

What's wrong with the Thai Immigration imposed health insurance mandate?

1.  Must be provided by one of a limited number of Thai insurance companies:

https://longstay.tgia.org/home/companiesoa

2.  Must be 400,000 baht inpatient/40,000 baht outpatient coverage.  

Outpatient coverage is very expensive and largely unnecessary, especially if your view of insurance is that it should provide for protection against catastrophic events not routine expenses.

3.  Must be coordinated with the start and end times of your extension of stay.  When you apply for your extension of stay you must demonstrate coverage for the whole period of your extension.  An example of potential problem.  You apply for your extension of stay 45 days in advance of the current permission to stay expiring.  Normally you would be given a permission to stay of one year and 45 days.  However, because the insurance mandate you must demonstrate that you have coverage for one year and 45 days otherwise you will only be given permission to stay until your insurance coverage expires.

It conflates getting your permission to stay in Thailand with your health insurance coverage, two things that are completely unrelated now must be synchronized according to the rules of the immigration department.

4.  At a certain age you will no longer be able to find coverage at any price from one of the approved Thai insurance companies.

5.  During the validity of your Non-OA visa any time you enter Thailand you will be stamped in for a year, requiring you to demonstrate that you have 12 months of insurance coverage from the day you enter Thailand.  Failing to demonstrate that gets you stamped in with a permission to stay of shorter duration that matches your current health insurance coverage (that is, your permission to stay expires on the same date as your insurance coverage ends).

6.  Have a history of health problems?  Most everyone has had a prior health issue by the time they reach retirement age.  Most, if not all, policies in the "scheme" exclude prior health issues from being covered (with no reduction to the premium).

 

7.  Already have superior coverage through a foreign insurer that is gleefully accepted by a network of Bangkok hospitals?  It may be good enough to get you admitted to the hospital for a lengthy stay, but not good enough to get you admitted to Thailand for a stay past your OA extension.

Edited October 27, 2021 by pablo el sueco
clarify

[Scott Tracy]

19 hours ago, EricTh said:

I think that's for non-OA, but there are other tougher requirements for non-OA like health insurance.

Isn't the new $100,000 insurance applicable to both non-immigrant and O-A now? Does O-A still have to have the 400,000/40,000 health insurance as well as the $100,000 health insurance?

 

[thailand49]

20 hours ago, Danderman123 said:

I don’t know why you call health insurance a rip-off. Those eligible for a non-O visa are older, and have a reasonable probability of requiring medical attention in coming years.

True!  but the reality it is a rip off because when you are older the cost of just a inpatient coverage is costly and they don't want you unless you are in perfect health and being old as you noted reasonable probability of requiring medical attention. Unless you are so rich which majority of Expats aren't if you really know the score here with insurance I don't think you would say what you said!

[ubonjoe]

1 hour ago, Scott Tracy said:

Isn't the new $100,000 insurance applicable to both non-immigrant and O-A now? Does O-A still have to have the 400,000/40,000 health insurance as well as the $100,000 health insurance?

 

The insurance for Non-OA visa has been raised to $100,000 insurance that includes covid 19 coverage. The 40/400 insurance it no longer required. It is only required for new visa issued until 30 September of next year when it will apply to existing OA visas and extension of the entry from one.

[Salerno]

1 hour ago, Scott Tracy said:

Isn't the new $100,000 insurance applicable to both non-immigrant and O-A now?

No - some people are getting it mixed up with the policy implemented due to Covid and about to be reduced to 50K from 100K.

 

1 hour ago, Scott Tracy said:

Does O-A still have to have the 400,000/40,000 health insurance as well as the $100,000 health insurance?

No, it's an amended requirement.

[ubonjoe]

1 hour ago, Scott Tracy said:

Isn't the new $100,000 insurance applicable to both non-immigrant and O-A now? Does O-A still have to have the 400,000/40,000 health insurance as well as the $100,000 health insurance?

The $100,000 medical insurance that includes covid 19 treatment is only for new OA visas. Only the $100k insurance is required. No other type of visa requires it.

[wwest5829]

18 hours ago, night_rider said:

I did see a Liberty Mutual policy to cover the requirement for B6000 but with a 200k deductible 

I pay 11,400 baht a year footprint the required insurance at age 74. 200K deductible and pre- existing conditions so that this equates to an additional cost without benefit.

[Thai Duke]

On 10/26/2021 at 9:41 PM, EricTh said:

For Non-O, you have to move the 800k to Thailand for at least 2 months before the first extension. You can't submit your home country's bank statement for non-O visa.

 

I think that's for non-OA, but there are other tougher requirements for non-OA like health insurance.

I have recently done this with immigration. For NON-O which is if you are married to Thai National (not NON-OA - which is for retirement over 50), You only need 400KB and no proof of insurance. Money definitely must be in the bank 2 months prior to your stamped passport expiry date. Doesn't matter how much time you spent in quarantine. Must be in a Thai Bank. You must have a bank teller provide an official bank statement letter (cost 100B). You can try a print out of your bank book (some clerk may accept) but the bank letter is what's requested. So make sure you have your bank account setup pretty much as soon as you arrive !  Good luck...Chok Dee