Private Health Cover increased by almost 100% in 2 years ?

[4MyEgo]

I just received an email from the private health provider that I am currently with advising me that the new premium for the upcoming year is going to be 142,908 baht should I wish to renew the policy, they stated that the increase was for reasons due to age 60-64 and world health costs, last year it was 105,395 baht, that's an increase of 35.6% year on year.

 

My age is 61, and I recall when I was 59 the same cover cost me 73,408 baht, an increase of 43.6% year on year to my current annual policy which is coming up to expire in a month.

 

When you do the math for the cost increase of the policy from 59 years of age, i.e. 73,408 baht to 142,908 baht at 61 now, that's an increase of 94.67% in 2 years, that said I am assuming that this is going to be an annual event of increase after increase to the policy, so best I get off the rocket.

 

That is what I am thinking anyway, especially when I haven't made a claim. I knew increases came with age but looks like it's time for me to shop around for a new private health care provider with deductibles, at least that way it would appear more affordable as I am not interested in self insuring, which I could do, if I really had too.

 

Open to any suggestions of inpatient private hospital providers who have had a fairly steady rise year on year and of course have a proven track record, e.g. pay out in emergency situations, if at all possible.

 

I am a firm believer of private health coverage, however for a fair price, especially when no claims have been made, yes I know, it's not like car insurance ????

 

 

Edited March 27, 2022 by 4MyEgo

[Golden Triangle]

I have always self insured, I'll be 69 on my next birthday, and so far, touch wood, have spent next to nothing on health problems, I'm really hoping to just kick the bucket in the middle of the night, no bells or whistles, just bow out gracefully ???? 

[RichardColeman]

57 minutes ago, 4MyEgo said:

73,408 baht to 142,908 baht at 61 now, that's an increase of 94.67% in 2 years

You're being exploited. Just imagine what you're premiums will be in your 70's at that rate, your income wont cover the daft premium. 

 

My intention is to stay in Thailand until about 70 at most, then leave. Not worth staying here after that - for me anyway. I look forwards to old age in the UK, with a  visit here for family couple times a year. Seriously do not want to risk a life in a country that may eventually decide to out price me in old age !

 

 

 

[Guest truthman]

37 minutes ago, Golden Triangle said:

I have always self insured, I'll be 69 on my next birthday, and so far, touch wood, have spent next to nothing on health problems, I'm really hoping to just kick the bucket in the middle of the night, no bells or whistles, just bow out gracefully ???? 

Same age, same results, same philosophy. I'll take what life gives me, I'm not going to fight for those last few inches (centimeters).

[impulse]

My insurance paid out 2 million baht for my bypass surgery in 2015.  Had I paid 145K for the 7 years I lived in Thailand, I'd have still been way out ahead.  Fortunately it was employer provided.

 

Are you feeling lucky?

 

[topt]

1 hour ago, 4MyEgo said:

I just received an email from the private health provider that I am currently with

Passport Card by any chance? (not sure why you haven't said who)

 

Also, if I remember correctly from previous threads, do you not have pre existing conditions which they are covering? Apologies if I am mixing you up with someone else.

[internationalism]

On misterprakan you can compare hundred policies. 
max deductible is 300k and lowers premium by half. 
pacific cross gives 20% discount for no claim.

[scubascuba3]

7 hours ago, impulse said:

My insurance paid out 2 million baht for my bypass surgery in 2015.  Had I paid 145K for the 7 years I lived in Thailand, I'd have still been way out ahead.  Fortunately it was employer provided.

 

Are you feeling lucky?

 

thai insurer?

[impulse]

7 minutes ago, scubascuba3 said:

thai insurer?

European.   I worked for a French body shop on contract to a multi-national oil company.

Edited March 27, 2022 by impulse

[4MyEgo]

7 hours ago, topt said:

Passport Card by any chance? (not sure why you haven't said who)

 

Also, if I remember correctly from previous threads, do you not have pre existing conditions which they are covering? Apologies if I am mixing you up with someone else.

I don't see the relevance in naming the provider, however you are correct.

 

As for the pre-existing condition, you are correct again, the extra premium if you recall is optional and was only $720 USD per annum or about 25,000 baht last I checked, no doubt that has also gone up.

Edited March 27, 2022 by 4MyEgo

[scubascuba3]

1 hour ago, impulse said:

European.   I worked for a French body shop on contract to a multi-national oil company.

Expected as much i had private UK insurance years ago and claimed for an op and they didn't even blink, I'm pretty sure thai insurers would have denied claim

[topt]

2 hours ago, 4MyEgo said:

I don't see the relevance in naming the provider, however you are correct.

Another poster started a thread, or mentioned in another thread, earlier last year that they had bumped his premium by 30% with no specific reason. I was also with them so was prepared in November when the renewal notice came through and had the same. This was a mid tier increase so not even going from one band to another. 

Their published rates for later tiers also jumped considerably and for me were no longer competitive.

 

They had in my mind been the best value of the International based insurers for most of their tiers but not anymore.

 

After comparing rates via AA Insure I switched to April International.

 

The relevance is that I am not aware of any other International provider increasing by anywhere near the same amounts.

[4MyEgo]

38 minutes ago, topt said:

Another poster started a thread, or mentioned in another thread, earlier last year that they had bumped his premium by 30% with no specific reason. I was also with them so was prepared in November when the renewal notice came through and had the same. This was a mid tier increase so not even going from one band to another. 

Their published rates for later tiers also jumped considerably and for me were no longer competitive.

 

They had in my mind been the best value of the International based insurers for most of their tiers but not anymore.

 

After comparing rates via AA Insure I switched to April International.

 

The relevance is that I am not aware of any other International provider increasing by anywhere near the same amounts.

Your spot on.

 

I gave them notice this morning that I wasn't renewing the policy, was also speaking with Wim at AA last year about the last increase and he appreciated where I was coming from and did suggest April, however I managed to negotiate a 15% reduction on last years policy with PassportCard and told him that I would revisit it next year, suffice to say, next year has arrived and am not looking to negotiate with them this year, it's become to expensive, especially when I combined my families health insurance plan with the other insurer, which will also be going up on January 1 as my wife will go into the next bracket.

 

This new increase in my premium would take the current combined health plan premiums to 215k and that is for inpatient only, no outpatient, that we pay for out of pocket, if ever needed.

 

One can appreciate its a business and they probably had to fork out a lot of money during the pandemic, but hey, I'm not going to pick up anyone else's tab and have put the 142,908 baht into a separate account to start self insuring. That said I also sent Wim an email and will see what he comes up with, more likely April, as I would be looking to take out the largest waiver they have, and I believe it's 50% ? 

 

Edit: It also looks like I will be going without cover on the pre-existing condition, I can handle that, but then again, it all depends on what is on offer and what the cost for the premium is.

 

Edited March 28, 2022 by 4MyEgo

[Sheryl]

April would be my suggestion but you may indeed have to accept an exclusion on the pre-existing.

 

 

[scubascuba3]

3 hours ago, 4MyEgo said:

 

 

Edit: It also looks like I will be going without cover on the pre-existing condition, I can handle that, but then again, it all depends on what is on offer and what the cost for the premium is.

 

Ah so the thing you are most likely to claim on isn't covered, so back to self insuring

[4MyEgo]

1 hour ago, Sheryl said:

April would be my suggestion but you may indeed have to accept an exclusion on the pre-existing.

 

 

Thx Sheryl, yes I had a look at April Thailand this morning, if I am not mistaken, it was something like 28,470 baht per annum for 3,275,000 million baht coverage and the deductable was 327,500 baht, this was for hospitalisation only (inpatient). I never needed 16 million USD, but that is what came with the previous insurer who also covered my pre-existing condition, which I would forgo with April.

 

There were other deductible amounts which made the policy still affordable, options, I like that. One size doesn't fit all, e.g. 40,672 baht for the same coverage with a deductable of 163,750 baht and so on.

 

Also if I recall, they are good payers in the even of a claim, subject to everything being above board of course.

 

I was referred to WRlife, however I don't know of them, however they only cover up to 800,000 baht and the cost for the policy is 92,251 baht with no deductibles, sounds steep to me.

 

 

[4MyEgo]

6 minutes ago, scubascuba3 said:

Ah so the thing you are most likely to claim on isn't covered, so back to self insuring

I don't believe 28,470 baht for 3,275,000 baht is expensive, even when you take out the pre-existing condition, if you recall, I did mention that the insurer I am with at the moment wants 142,908 baht to renew the policy and last time I checked the pre-existing cost was about 25,000 baht.

 

The difference I believe is in the coverage, e.g. $16 million USD vs $1 million with April. I mean who needs $16 million coverage and not having the option for deductibles, that said, something is better than nothing, and deductibles allows you to reduce your premium and having some cover, sure the pre-existing condition goes out the window, but such is life, better having cover than not having cover in my opinion as you never know when that bus is going to hit yah so to speak.

[Chris.B]

15 hours ago, RichardColeman said:

Seriously do not want to risk a life in a country that may eventually decide to out price me in old age !

So instead you you are going to be priced out in the UK! Don't you read the news?  ???????? 

[Chris.B]

15 hours ago, impulse said:

My insurance paid out 2 million baht for my bypass surgery in 2015.  Had I paid 145K for the 7 years I lived in Thailand, I'd have still been way out ahead.  Fortunately it was employer provided.

 

Are you feeling lucky?

 

I understand in many cases, bypass surgery is needed because of lifestyle. Why assume everyone else has the same as yours?

Edited March 28, 2022 by Chris.B

[4MyEgo]

6 minutes ago, Chris.B said:

So instead you you are going to be priced out in the UK! Don't you read the news?  ???????? 

In the UK he would have the NHS which is free, as is Medicare in Australia, i.e. unless you are referring to private cover which I never had back in my homeland as there was no need.

 

You see as an emergency you are admitted straight away, as I was, under Medicare, private cover would be expensive back in my homeland, that said, there are other options, e.g. go on a waiting list if the procedure is not urgent, or pay for it to be done at a private hospital, I did this once, whereby my option was to wait a year of pay $6,000 and have it don in 3 weeks, I chose the later and also got to deduct 20c in the off my tax, in other words a $1,000 rebate.

[JimmyJ]

4MyEgo - What company?

[JimmyJ]

5 hours ago, topt said:

Another poster started a thread, or mentioned in another thread, earlier last year that they had bumped his premium by 30% with no specific reason. I was also with them so was prepared in November when the renewal notice came through and had the same. This was a mid tier increase so not even going from one band to another. 

Their published rates for later tiers also jumped considerably and for me were no longer competitive.

 

They had in my mind been the best value of the International based insurers for most of their tiers but not anymore.

 

After comparing rates via AA Insure I switched to April International.

 

The relevance is that I am not aware of any other International provider increasing by anywhere near the same amounts.

"Another poster started a thread, or mentioned in another thread, earlier last year that they had bumped his premium by 30% with no specific reason. I was also with them...".

 

What company?

[4MyEgo]

16 minutes ago, JimmyJ said:

4MyEgo - What company?

PassportCard or David Shield as they were know to me when I joined originally.

 

 

Edited March 28, 2022 by 4MyEgo

[Chris.B]

38 minutes ago, 4MyEgo said:

In the UK he would have the NHS which is free, as is Medicare in Australia, i.e. unless you are referring to private cover which I never had back in my homeland as there was no need.

 

Free NHS care with 6 year waiting lists for operations and GP's refusing to see patients face to face? Not to mention the lack of preventative care for cancer due to prioritising Covid.

 

[Sheryl]

2 hours ago, 4MyEgo said:

Thx Sheryl, yes I had a look at April Thailand this morning, if I am not mistaken, it was something like 28,470 baht per annum for 3,275,000 million baht coverage and the deductable was 327,500 baht, this was for hospitalisation only (inpatient). I never needed 16 million USD, but that is what came with the previous insurer who also covered my pre-existing condition, which I would forgo with April.

 

There were other deductible amounts which made the policy still affordable, options, I like that. One size doesn't fit all, e.g. 40,672 baht for the same coverage with a deductable of 163,750 baht and so on.

 

Also if I recall, they are good payers in the even of a claim, subject to everything being above board of course.

 

I was referred to WRlife, however I don't know of them, however they only cover up to 800,000 baht and the cost for the policy is 92,251 baht with no deductibles, sounds steep to me.

 

 

I did not mean April Thailand. Was referring to April Global (issued out of France). Cover is US 1 million with deductible options.

[scubascuba3]

2 hours ago, 4MyEgo said:

I don't believe 28,470 baht for 3,275,000 baht is expensive, even when you take out the pre-existing condition, if you recall, I did mention that the insurer I am with at the moment wants 142,908 baht to renew the policy and last time I checked the pre-existing cost was about 25,000 baht.

 

The difference I believe is in the coverage, e.g. $16 million USD vs $1 million with April. I mean who needs $16 million coverage and not having the option for deductibles, that said, something is better than nothing, and deductibles allows you to reduce your premium and having some cover, sure the pre-existing condition goes out the window, but such is life, better having cover than not having cover in my opinion as you never know when that bus is going to hit yah so to speak.

I wouldn't go with April Thailand, not enough cover and thai regs, April Global like Sheryl suggests yes

[topt]

Deleted as already covered.

Edited March 28, 2022 by topt

[msbkk]

Yes, premium increases are high. The figures quoted are however for inpatient plus outpatient. If you change the coverage to inpatient only premium are probably half of that. And passportcard also offers deductables to further lower your premium. If you choose April international for inpatient plus outpatient premium will be much higher, more than double of the quoted figures per year. You should compare both companies for the same coverage and options of plans and deductables.

[Sheryl]

3 minutes ago, msbkk said:

Yes, premium increases are high. The figures quoted are however for inpatient plus outpatient. If you change the coverage to inpatient only premium are probably half of that. And passportcard also offers deductables to further lower your premium. If you choose April international for inpatient plus outpatient premium will be much higher, more than double of the quoted figures per year. You should compare both companies for the same coverage and options of plans and deductables.

I am pretty sure OP has inpatient cover only in his current policy.

 

However his premiums are higher than would otherwise be the case because he has a pre-existing heart condition. He acceopted an added  premium to have heart conditions covered.

 

 

[msbkk]

11 minutes ago, Sheryl said:

I am pretty sure OP has inpatient cover only in his current policy.

 

However his premiums are higher than would otherwise be the case because he has a pre-existing heart condition. He acceopted an added  premium to have heart conditions covered.

 

 

The OP mentioned that the surcharge for the pre-existing condition is just 25,000 Baht per year so this matter is a bit confusing.

Edited March 28, 2022 by msbkk