How do you cope with skyrocketing premiums from health insurers?

[Lucky Bones]

4 minutes ago, Henryford said:

Sure a risk, but if you are in good shape, not fat, a non smoker it's a good bet. 1.3 million buys a lot of health care. Would the insurance company even pay up? By the time you really need it 75 plus they will dump you.

1.3 million would possibly buy 35 days, private room, private hospital.

Maybe 7-10 days in ICU.

It's not a lot of cover.

[Hamus Yaigh]

40 minutes ago, Henryford said:

Self insure. I have for 18 years. If you are paying $2000 a year that's $36,000 (1.3 million baht)  to go towards any treatment.

It's a lot more than that saved if you re-invest it.

 

Unless you come from a place where there is a national health service that cares for anyone in society young or old, expect to get ripped off to heaven by the health care insurance companies from their large corporate office blocks. Live a healthy lifestyle is most peoples only hope.

[OneMoreFarang]

1 hour ago, possum1931 said:

  On 7/26/2022 at 6:31 PM, Nickelbeer said:

Skyrocketing premiums from companies that usually fail to pay the coverage they agreed to. Insurance in Thailand is a massive scam.

 

"Or is the bigger problem that many people don't read the fine print and somehow assume the insurance will pay?"

This fine print alone shows the mentality of insurance companies. Why can't all the wording be the same?? Don't answer that.

Is there an insurance ombudsman in Thailand?? Even if there was, brown envelopes will talk TiT. These companies seem to have a licence to scam and con people, yes of course there are people who will say I'm wrong and their insurance company have paid out, but look at it from a wider point of view, do I need to say more?

A long time ago I worked in a company in Europe who compared and sold private health insurance contracts. Small print and more small print and more intern regulations (i.e. how much do they pay for prescription glasses, etc.). Some conditions were the same and lots of conditions were different. And obviously the prices were different. Should we blame companies that they compete with each other? If you buy bread there are also many different sorts and quality and prices and you also don't demand that all should be the same. It's up to the customer to decide what they want and chose wisely. 

[Henryford]

29 minutes ago, Lucky Bones said:

1.3 million would possibly buy 35 days, private room, private hospital.

Maybe 7-10 days in ICU.

It's not a lot of cover.

If the Insurance companies are charging $36,000 then they know the average person will only cost them say $30,000. Unless you are unlucky it's a safe bet.

[Pumpuynarak]

25 minutes ago, Lucky Bones said:

1.3 million would possibly buy 35 days, private room, private hospital.

Maybe 7-10 days in ICU.

It's not a lot of cover.

Try a government hospital like the one i use in Korat, SUT hospital, its absolutely brill, fully staffed with specialists/surgeons, all the equipment one would ever need. When i had a stroke i spent 3 nights in a private room, brain scan, 24hour nursing care, physio treatment etc and all for 27K Bht.

 

Last time i saw my GP in the hospital who happens to be American it cost me 80bht doctors fee.

It is possible to avoid the rip off/bill padding private hospitals.

[Lucky Bones]

11 minutes ago, Pumpuynarak said:

Try a government hospital like the one i use in Korat, SUT hospital, its absolutely brill, fully staffed with specialists/surgeons, all the equipment one would ever need. When i had a stroke i spent 3 nights in a private room, brain scan, 24hour nursing care, physio treatment etc and all for 27K Bht.

 

Last time i saw my GP in the hospital who happens to be American it cost me 80bht doctors fee.

It is possible to avoid the rip off/bill padding private hospitals.

Yes, agreed re private hospital.

I too am registered at a govt hospital.

But, if you have just been scraped off the soi "non compus mentis" in Pattaya you will likely end up at BPH if you are a falang.

Luck of the draw.

[Chris.B]

54 minutes ago, Lucky Bones said:

1.3 million would possibly buy 35 days, private room, private hospital.

Maybe 7-10 days in ICU.

It's not a lot of cover.

If you were to spend 7-10 days in ICU you would have to be very, very sick indeed. Maybe it would be your time to go and not try to cling to a reduced existence.

 

[Pumpuynarak]

4 minutes ago, Lucky Bones said:

Yes, agreed re private hospital.

I too am registered at a govt hospital.

But, if you have just been scraped off the soi "non compus mentis" in Pattaya you will likely end up at BPH if you are a falang.

Luck of the draw.

Then get transferred to your registered government hospital without delay and pay BPH for the few hours you've spent there, i have a wifey who is aware of exactly what is to happen with me in the event of an accident/illness requiring emergency treatment.

I appreciate those falang that are on their own without the help of a wife/GF its not so easy to escape the thieves. 

[Pumpuynarak]

5 minutes ago, Chris.B said:

If you were to spend 7-10 days in ICU you would have to be very, very sick indeed. Maybe it would be your time to go and not try to cling to a reduced existence.

 

BINGO, i totally agree.

[NoshowJones]

1 hour ago, OneMoreFarang said:

A long time ago I worked in a company in Europe who compared and sold private health insurance contracts. Small print and more small print and more intern regulations (i.e. how much do they pay for prescription glasses, etc.). Some conditions were the same and lots of conditions were different. And obviously the prices were different. Should we blame companies that they compete with each other? If you buy bread there are also many different sorts and quality and prices and you also don't demand that all should be the same. It's up to the customer to decide what they want and chose wisely. 

This is a sensible post, maybe I am thinking of the small print which is there because companies hope it will not be noticed until it is too late, if at all, maybe someone will point out the difference between small print and fine print.

[Pumpuynarak]

25 minutes ago, possum1931 said:

This is a sensible post, maybe I am thinking of the small print which is there because companies hope it will not be noticed until it is too late, if at all, maybe someone will point out the difference between small print and fine print.

Small print is difficult to read let alone understand, fine print is impossible to do anything with.

Guess which one is favoured by the insurers ? lol

[SymS]

4 hours ago, Chris.B said:

That sounds like travel insurance, check your policy.

 

That's a local insurance optimized for Thailand. As such I would only be insured outside of Thailand for up to 90 days. I would know I have already used it when my ex-wife was on the same policy, and had to be hospitalized.

[Chris.B]

2 hours ago, Pumpuynarak said:

Small print is difficult to read let alone understand, fine print is impossible to do anything with.

Guess which one is favoured by the insurers ? lol

These companies have you by the balls!

 

[konaboy]

On 7/26/2022 at 6:04 PM, KannikaP said:

Is the insurance worth it? Have you made a claim and got it paid?

Is it true no Thai insurance is available for those Farangs over 75 ?

[Sheryl]

16 hours ago, konaboy said:

Is it true no Thai insurance is available for those Farangs over 75 ?

If by "Thai indurance" you mean insurance issued by a Thai company, they will usually not issue a new policy beyond age 75 bug many will allow renewal well past that age.

 

There are internationally based expat insurance policies that are newly  available past age 75 and will cover you kin Thailand. Internationally issued policy ls preferrable in at any age anyhow...more reliable and better regulated.

 

The big barrier is not age per se but that by age 70 or so,  most people have some chronic health conditions which may make it difficult or impossible to get a policy.

 

 

[Pumpuynarak]

10 hours ago, Sheryl said:

The big barrier is not age per se but that by age 70 or so,  most people have some chronic health conditions which may make it giffivult or impossible to get a policy.

 

BINGO

[Lucky Bones]

10 hours ago, Sheryl said:

If by "Thai indurance" you mean insurance issued by a Thai company, they will usually not issue a new policy beyond age 75 bug many will allow renewal well past that age.

 

There are internationally based expat insurance policies that are newly  available past age 75 and will cover you kin Thailand. Internationally issued policy ls preferrable in at any age anyhow...more reliable and better regulated.

 

The big barrier is not age per se but that by age 70 or so,  most people have some chronic health conditions which may make it giffivult or impossible to get a policy.

 

 

Sheryl, 99% of the time I agree with you, but, around 70 years "Most people have some chronic health conditions"?

Most??? That's a long bow to draw.

Chronic in whose eyes?

I guess we are all ticking time bombs.

I had a mate who's heart packed it in aged 36 while playing sport.

Ya just never know.

[Lucky Bones]

Just received my Passport "anniversary update", with effect from September as I hit 65 in January next year.

Close on 30% hike from day one. Not 6% for each of the next 5 years.

Priced themselves out of my market. Money grabbing is not limited to Thai ventures????.

Last year was a 40+% increase for no particular reason. April about the same cost.

I've probably lived here long enough now to convalesce in Sri Racha govt hosp if push comes to shove and the local hosp near my wifes village if need be.

Can't spend this amount of money based on fear of sickness or accident.

I'll chuck a couple hundred bucks per month into separate account as assistance to self insurance.

Back to see Wim in Pattaya soon to explore a cheaper local cover.

Wim is good value. Not a used car salesman, he prepares options and lets you decide.

Bye-bye Passport.

 

[spidermike007]

I don't. They jacked my premium one too many times. Sorry. Homey don't play that game. No claims and ever rising premiums and I said hit the door, Jack. 

 

I self insure. I do have a decent accident policy, which is reasonable. And I take out travel insurance when I travel back to the US. And car insurance. Other than that, no other insurance. See ya. Don't miss ya. 

[jerrymahoney]

Self-insurance -- or really a reserve account -- is a great plan until it isn't.

[internationalism]

very few thai insurers would issue one to age of 70, with renewals to only 80 (or 85).

The only one doing it to 75 age is pacific cross, but only visa friendly policy and as designed only for foreigners probably it's not the best value (in comparison to their other plans). I think they don't offer deductible on this plan.

Some guy claimed on insurance sub-forum that he was able to get pacific cross at age of 78. That was many years ago. Ask directly pacific cross, they might give you exception and special quotation. But try to buy through an agent, if that would be possible at all in your case.

Here terms of this policy

https://misterprakan.com/th/health/details?gender=Male&age=75&lg=en&ipd=1&opdf=0&leadid=348157&pdtype=health&pid=NzU=&insurer=UGFjaWZpYyBDcm9zcw==&dd=&opd=Tm8=&dental=&vision=&pp=ZnA9TVRJek5qZ3kmcGM9TVRJek5qZ3kmcGNjPU1USXpOamd5JnBwbGl0ZTM9JnBwbGl0ZTQ9JnBwbGl0ZTY9JnBwbGl0ZTg9JnBwbGl0ZTEwPSZwYmJpbnMxPSZwYmJpbnMyPSZwYmJpbnMzPSZwYmJpbnM0PSZwYmJpbnM1PSZwYmJpbnM2PSZwYmJpbnM3PSZwYmJpbnM4PSZwYmJpbnM5PSZwYmJpbnMxMD0=

[mania]

1 hour ago, jerrymahoney said:

Self-insurance -- or really a reserve account -- is a great plan until it isn't.

Yes problem with self insure is it is a single bullet that may or may not be big enough

Then your empty either way

[Excel]

Just now, mania said:

Yes problem with self insure is it is a single bullet that may or may not be big enough

Then your empty either way

Yes much like paying a top of the range health insurance of 70 -80000 THB per year for the last 16 years, having no illnesses then dying suddenly from a heart attack.  I told him years ago he was wasting his money but he simply wouldn't listen.

[Lucky Bones]

The real problem re have or no have health insurance is that generally we only know the answer after the event.

[mania]

I have never lost a home to fire ...Yet I still buy home owners insurance

[Lucky Bones]

Just now, mania said:

I have never lost a home to fire ...Yet I still buy home owners insurance

Good move. A burst water pipe when you are not at home or a smashed Somchai parking his pick up in your lounge room are more likely.

We have no control over these things. We do have some control over our health though.

[rumak]

On 7/28/2022 at 10:38 AM, Henryford said:

Self insure. I have for 18 years. If you are paying $2000 a year that's $36,000 (1.3 million baht)  to go towards any treatment.

"self insure"  is a term that some on this forum ridicule ..... falsely saying that it means you are kidding yourself and it means nothing.    Looking up the definition one will find this :" Self-insurance is a situation in which a person or business that is liable for some risk does not take out any third-party insurance, but rather chooses to bear the risk itself." 

I could debate why I choose to bear the risk with others but really what's the point ?  Thirty=five years ago when in the second year of a health insurance policy the company raised my premium without me having any claims is when i made my choice.     Risk / Reward  :   well,  i was about 35 at the time and in good health.   I also intended to maintain a healthy diet and lifestyle ,  which in my mind meant I had a pretty good chance of not having any MAJOR  problems.  Foolproof ?  of course not.    What i was pretty sure of was that the cost of health insurance would go up.  and up.

(little did I imagine just how much UP that would be) .   

REWARD :   I was fed up with life in US anyway so tried a new way in Thailand.   A lot less stress.  A lot less processed foods.   Sunshine.   Friendly people  (if you live away from the tourist traps), and very cheap and good healthcare .   After 35 years how much did I "save" by not handing it to a third party ?   About 2 MILLION baht I would say .   So i made it !    Possibly spent about 200 thousand on all medical out of pocket (120 thousand 2 years ago for a broken hip.   Playing basketball !  at 70 years old i guess that was not a good  risk/reward   .     Back walking and biking  and  feel very good to have done it this way.     

Note:  your results may vary   ????

[rumak]

5 hours ago, Lucky Bones said:

The real problem re have or no have health insurance is that generally we only know the answer after the event.

One must listen to their body and take care of it the same way that an automobile or appliance needs to be .    The world basically does not do that..... but instead just waits till the noise turns into expensive damage .

IMO  the world is so ignorant and without discipline concerning their health ( i will not post photos as the WOKE  will surely object ) .     Even tucked away far out of people's mindset are these CDC  statistics :  

What percentage of diseases are preventable?

 

 

 

Each year, nearly 900,000 Americans die prematurely from the five leading causes of death – yet 20 percent to 40 percent of the deaths from each cause could be prevented, according to a study from the Centers for Disease Control and Prevention.

[rumak]

5 hours ago, Lucky Bones said:

Good move. A burst water pipe when you are not at home or a smashed Somchai parking his pick up in your lounge room are more likely.

I am more terrified that one of those army helicopters will come crashing down and completely destroy my collection of original Picassos .

[Lucky Bones]

2 minutes ago, rumak said:

One must listen to their body and take care of it the same way that an automobile or appliance needs to be .    The world basically does not do that..... but instead just waits till the noise turns into expensive damage .

IMO  the world is so ignorant and without discipline concerning their health ( i will not post photos as the WOKE  will surely object ) .     Even tucked away far out of people's mindset are these CDC  statistics :  

What percentage of diseases are preventable?

 

 

 

Each year, nearly 900,000 Americans die prematurely from the five leading causes of death – yet 20 percent to 40 percent of the deaths from each cause could be prevented, according to a study from the Centers for Disease Control and Prevention.

OK.

But health insurance is not just for "sickness".

It doesn't matter how much we take care of our bodies when we are attacked by a pack of soi dogs, fall down a rusted drain cover or have drunken Somchai park his pickup in your lounge room (etc,etc).

These things are called accidents and sadly happen way too often.

Yes.....accidents, which we can not control.