Health Insurance Recommendations

[trav2021]

Looking for health insurance company/policy recommendations. I’m a 65 year old male from the USA on non-O extension, reasonably good health with one pre-existing condition, high blood pressure. I have Medicare parts A and B back in the USA and am looking for coverage here in Thailand. A Thai friend who works for AIA is recommending their policy. Has anyone had experience with that company?  Thanks for any suggestions. 

[ubonjoe]

Not directly visas or extensions related. Moved to the insurance forum.

[Etaoin Shrdlu]

AIA is a life insurance company. Medical coverage would likely be an extension on a life insurance policy. Part of your premium would be going towards life insurance. At age 65, that could be expensive, if available at all.

 

Americans need to be aware that owning a whole life policy with a cash value, which is what most Thai life insurance companies push, can trigger tax issues. Most foreign life insurers do not provide sufficient information about interest or investment income related to the cash value of the policy for compliance with US tax requirements. It may also need to be reported on FBARs and other tax forms. Best avoided, in my opinion.

 

I suggest you look at medical insurance offered by a specialist medical insurance company, not a life insurance company.

[trav2021]

Etaoin, thanks for the info about life insurance and tax ramifications.  Yes I am aware they are a life insurance company. According to my Thai friend (and also my gf) in order to purchase health insurance from any company in Thailand one must first purchase their life insurance. That sounds strange to me but have you or anyone else heard of that before?

 

Also, if you are an expat living in Thailand do you purchase insurance?  It’s odd that several people have recently requested recommendations and I don’t see many replies though common sense tells me there must be  thousands of expats in this situation.   Thanks. 

[Etaoin Shrdlu]

3 hours ago, trav2021 said:

Etaoin, thanks for the info about life insurance and tax ramifications.  Yes I am aware they are a life insurance company. According to my Thai friend (and also my gf) in order to purchase health insurance from any company in Thailand one must first purchase their life insurance. That sounds strange to me but have you or anyone else heard of that before?

 

Also, if you are an expat living in Thailand do you purchase insurance?  It’s odd that several people have recently requested recommendations and I don’t see many replies though common sense tells me there must be  thousands of expats in this situation.   Thanks. 

It is not true that it is necessary to purchase life insurance in order to get health coverage. That is only true if you purchase health coverage from a life insurance company. There are many non-life insurance companies that will provide health insurance without the need to purchase life cover. Save your premium baht for what you are looking for (medical cover) and not what a life insurance company wants to sell you (life insurance).

 

I would urge you to contact an insurance broker who can give you comparative quotes from two or three non-life companies that provide medical insurance on a stand-alone basis. Don't go through an insurance company agent or on a direct basis. Insurance agents represent the insurance company, not you. An independent insurance broker is your agent under the law of agency, not the insurance company's, and has certain duties to advise you that an agent does not have. If you have issues with claims or anything else, a broker can often help you in ways an agent can't.

 

You will want to took into both onshore and offshore insurers and their offerings. Among the offshore insurers often cited are Cigna, AXA and April's non-Thai offices. Among the onshore insurers are again AXA and April's local Thai companies, Pacific Cross and others. Get a good insurance broker to explain the advantages and disadvantages of these and others.

Edited February 14, 2022 by Etaoin Shrdlu
omission

[4MyEgo]

4 hours ago, trav2021 said:

Looking for health insurance company/policy recommendations. I’m a 65 year old male from the USA on non-O extension, reasonably good health with one pre-existing condition, high blood pressure. I have Medicare parts A and B back in the USA and am looking for coverage here in Thailand. A Thai friend who works for AIA is recommending their policy. Has anyone had experience with that company?  Thanks for any suggestions. 

I have found AA Insurance Brokers extremely helpful when it comes to ALL my insurance needs.

 

At the time I took out a health insurance policy through one of their recommended insurers, I was 58  & with a pre-existing condition, which was optional on the policy, so if I wanted it, I would pay about $60USD a month more, well worth it for my pre-existing condition. 

 

The above said, when you go into the 59-64 age bracket, the policy sky rockets, that is with everyone, then there is your age bracket 65-69, look out, but without private health cover here, you get what is expected, and there are some good public hospitals here I am told that are cheap.

 

So it's a matter of choice, my advice is Google AA Insurance brokers here in Thailand and get them to shop around for you, no charge, they get a fee from the insurer and most here go through them.

 

I have been very happy with them, although have never had to make a claim and that is the way I want it. 

[trav2021]

4MyEgo, thanks for the valuable info. Someone else was kind enough to private message me suggesting I contact AA insurance brokers as well, so I definitely will do that. Which insurance company did you go with?

[internationalism]

I think only pacific cross, cover 3mln, premium below 100k but some 300k deductible.

check comparison on misterprakan

Edited February 14, 2022 by internationalism

[trav2021]

On 2/14/2022 at 8:51 PM, internationalism said:

I think only pacific cross, cover 3mln, premium below 100k but some 300k deductible.

check comparison on misterprakan

Thanks for the suggestion I definitely will check into Pacific Cross.