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By Jonathan Fairfield

 

A change in policy regarding the insurance requirements for the Non-Immigrant “O-A” (Long Stay) visa states that foreigners are now able to self insure.

 

A Non-Immigrant “O-A” (Long Stay) visa is typically obtained from a Thai Embassy or Consulate overseas and should not be confused with the annual retirement extension (often erroneously referred to as a ‘retirement visa’), which is obtained an immigration office in Thailand.

 

Applicants for a Non-Immigrant “O-A” (Long Stay) visa must be 50 years or over and be able to show funds totalling 800,000 baht.

 

Previously, foreigners who applied for a Non Imm O-A (Long stay) visa were required to have insurance which provided inpatient cover up to 400,000 baht.

 

Full story: https://www.huahintoday.com/hua-hin-news/policy-change-to-non-imm-o-a-long-stay-retirement-visa-allows-foreigners-to-self-insure/

 

-- © Copyright Hua Hin Today 2022-02-01

 

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That is quite an interesting development. However, the main question now is, how do foreigners show that they have 3 million in assets? From the article:

"documents demonstrating properties, bank deposit, health insurance or others whose coverage shall not less than 3 million THB in total in accordance with the criteria prescribed by the Immigration Bureau."

How do you value houses that officially are in your wife's name, or in a company name, or where you have leases? I am lucky to have health insurance, but nevertheless, the issue is interesting for me too.

Must these assets be in Thailand? Can they be overseas? Considering that many O-A applicants don’t yet have a Thai bank account, showing the assets in Thailand can be problematic when you visit a Thai embassy overseas. 

27 minutes ago, USNret said:

Must these assets be in Thailand? Can they be overseas? Considering that many O-A applicants don’t yet have a Thai bank account, showing the assets in Thailand can be problematic when you visit a Thai embassy overseas. 

Overseas or Thailand it seems 

Seems to be some similarities with this new O-A ( 3M assets ) and the O-X application -  ( 3M Thai bank ).....

 

Interesting development, but will they flip flop on this in a month's time like they usually do?

 

 

As usual, this is just another poorly conceived plan that is not well thought out. Another case of opening your mouth before engaging your brain. I can walk into Bangkok Hospital, plop down my Amex gold card that has no limit and get all the care I need. Period.

2 minutes ago, apetryxx said:

I can walk into Bangkok Hospital, plop down my Amex gold card that has no limit and get all the care I need.

Unless they've changed the rules, Amex requires that you pay the money back.

These requirements are mind boggling. Just come in visa exempt and let an agent sort it out.

Of course I have to pay the money back but that’s between me and AmEx. The hospital has been paid. Perhaps Oxx doesn’t understand how these transactions work.

What these people don't seem to understand is that those making rational decisions on where and how to retire cant do that on constantly changing requirements. People coming in on one set of rules need to . at the very least. have these rules grandfathered in. 

I don't understand why they can not device a fair system where long term residence can buy into the Thai national health care system, as many countries do, then if said expat desires additional insurance he/she can purchase supplemental insurance in the private sector .

A win win situation for both the Thai system that has another stream of income, and the expat that has a minimal health care safety net. 

1 hour ago, Swiss1960 said:

That is quite an interesting development. However, the main question now is, how do foreigners show that they have 3 million in assets? From the article:

"documents demonstrating properties, bank deposit, health insurance or others whose coverage shall not less than 3 million THB in total in accordance with the criteria prescribed by the Immigration Bureau."

How do you value houses that officially are in your wife's name, or in a company name, or where you have leases? I am lucky to have health insurance, but nevertheless, the issue is interesting for me too.

i still think one need to have a very good reason to block 100K euro of assets for a one year trip

28 minutes ago, Oxx said:

Unless they've changed the rules, Amex requires that you pay the money back.

yes, but it then become's AMEX's problem to recover the funds, not the hospital's 

Looks like a few retirees won’t be returning to Thailand due to these regulations, often the Baht 800,000 deposit requirement was a struggle to meet !

10 minutes ago, Iknow said:

Looks like a few retirees won’t be returning to Thailand due to these regulations, often the Baht 800,000 deposit requirement was a struggle to meet !

Well they have been saying for months now they only want well heeled tourists and now it seems you can add retirees to the list. 

Another horrible complicated plan for the foreigners. ????????

I thought they wanted foreigners to be insured and ergo why they made those of us on an OA visa and subsequent extension to have the required insurance....this will be interesting.

51 minutes ago, EVENKEEL said:

These requirements are mind boggling. Just come in visa exempt and let an agent sort it out.

Still the easiest way and no financial obligations, except the agent fee????

1 hour ago, USNret said:

Must these assets be in Thailand? Can they be overseas? Considering that many O-A applicants don’t yet have a Thai bank account, showing the assets in Thailand can be problematic when you visit a Thai embassy overseas. 

country of origin.

 

42 minutes ago, pvdb64 said:

i still think one need to have a very good reason to block 100K euro of assets for a one year trip

Where does it say it has to be blocked? 

 

At the Thai consulate in Los Angeles, to satisfy the financial requirement  ($15,000?) you only had to show a print out of your bank statement. 

8 minutes ago, ThailandRyan said:

I thought they wanted foreigners to be insured and ergo why they made those of us on an OA visa and subsequent extension to have the required insurance....this will be interesting.

I think they don't care if we're insured, as long a they don't have to pay for us. 

8 minutes ago, PeachCH said:

Still the easiest way and no financial obligations, except the agent fee????

Is this available to all without great expense or ineffective/poor financial planning?  How does this VISA exempt process work (I.e. Eliete VISA)?  How do you do it and is there references to gain guidance and proof if needed?  

15 minutes ago, Yellowtail said:

Where does it say it has to be blocked? 

 

At the Thai consulate in Los Angeles, to satisfy the financial requirement  ($15,000?) you only had to show a print out of your bank statement. 

Same in Thai Embassy in Frankfurt /Germany where I got my multiple-entry OA visa from. 

I think the under the table visa system is becoming more popular....

13 minutes ago, Yellowtail said:

I think they don't care if we're insured, as long a they don't have to pay for us. 

Indeed that is the main point but with go fund stuff and people not being able to pay there will be resistance in letting insurance go. You read from time to time foreigners not being able to pay and I can see how that irks Thais and Thai hospitals. Its the fault of those guys skipping out on bills that we are in this mess.  (people might say its not but im sure it is) 

 

I think your spot on with your remark. 

If medical insurance is required then it should be available without age limits and pre-existing conditions need to be dealt with equitably.  

1 hour ago, sirineou said:

What these people don't seem to understand is that those making rational decisions on where and how to retire cant do that on constantly changing requirements. People coming in on one set of rules need to . at the very least. have these rules grandfathered in. 

I don't understand why they can not device a fair system where long term residence can buy into the Thai national health care system, as many countries do, then if said expat desires additional insurance he/she can purchase supplemental insurance in the private sector .

A win win situation for both the Thai system that has another stream of income, and the expat that has a minimal health care safety net. 

What is constantly changing? It seems that are adding an option for people that can't buy insurance. 

 

I would much rather deposit 800K and continue to self-insure than buy insurance.

 

1 minute ago, CM Dad said:

If medical insurance is required then it should be available without age limits and pre-existing conditions need to be dealt with equitably.  

Why it that Thailand's responsibility? Why not just buy insurance in your home country before you come? And if you can't buy insurance, they're giving you the option of self insuring. It seems fair to me. 

 

It's a situation where everyone is being punished for the actions of the few. People that are not financially responsible should not be allowed to come.  

 

 

I think you also have to provide proof that you've been turned down by an insurance company here on grounds of age, previous serious illness etc, which could be one of the several flies in the ointment.

1 hour ago, Iknow said:

Looks like a few retirees won’t be returning to Thailand due to these regulations, often the Baht 800,000 deposit requirement was a struggle to meet !

What an idiotic statement. The thread is about the insurance requirements that older expat could not get, as the majority of Thai insurances throws them out at a certain age.