Is Your Employer's Health Insurance Enough as an Expat in Thailand?

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The purpose of employee health insurance in Thailand is to look after employees’ well being under government mandated rules and regulations. At best, these provide standard coverage without taking into account the unique needs of each employee and are not effective long-term solutions. 

 

In this article, we will take a look at the pros and cons of corporate health insurance, what private health insurance plans have to offer, the importance of securing private international health insurance for your expatriate journey, and how an insurance broker like Pacific Prime Thailand can help. 

 

The Benefits of Employer-Sponsored Health Plans

 

Generally speaking, the benefits of employee health insurance are evident when you require basic care at a hospital during employment. While the coverage amount may not be significant, it is practical and adequate as a countermeasure to protect employees from minor illnesses and conditions. 

 

Another great advantage of employer-sponsored health plans is their average waiver and wait times, which provide employees with coverage from the first day of their employment to their last, regardless of pre-existing conditions and pre-medical screenings. 

 

The Drawbacks of Employer-Sponsored Health Plans

 

The drawbacks, in this case, are rather self explanatory. Coverage ends as soon as employment ends, and any costs incurred from illnesses or health conditions treated at hospitals shall be paid directly from your pocket.

 

Another important drawback of employer-sponsored health plans is that their terms, benefits, and scope of coverage are decided between the employer and insurer, which does not account for the differences among the needs of employees at different stages in their careers. 

 

Moreover, employer-sponsored health plans are capped, which may more or less result in an employee having to pay out of their own pockets for substantial amounts that exceed the coverage limit as specified in their plan. 

 

Lastly, employers continuously work with insurers to limit their liabilities and save money. At any given moment in time, conditions may shift and certain types of coverage may be removed. 

The Benefits of Securing Private International Health Insurance

 

Making the decision to relocate to a new country is a major life change. It also brings fresh difficulties, the most serious of which is access to quality medical care. When living abroad, many people tend to struggle to find affordable health insurance that suits their needs. 

 

In addition, depending on the visa type, Thai law may require expats to carry medical insurance. Obtaining insurance from a Thai company satisfies the first visa requirement. The second step is obtaining additional coverage from an international insurer. 

 

What’s more, while Thai insurance policies are generally inexpensive, they may not offer the same level of protection as more pricey private international policies. This necessitates that expats carefully consider alternatives to the Thai health insurance plans' coverage.

 

As a result, it is important to shop around for a more personalized private international health insurance policy. By working with an insurance agent, you should be able to locate a medical coverage strategy that fits your needs and finances in no time.  

 

To provide an easier-to-understand overview, we’ve listed below a few of the most compelling reasons to invest in private international health insurance:

Direct Billing

 

Direct billing is one of the most important selling points for policyholders. This ensures that every medical fee is paid for and charged directly from an insurer's network, eliminating the hassle of paying from your own wallet or having to settle lengthy claims processes. 

Flexible Plans

 

By dealing directly with an insurance broker, you’ll be able to customize every aspect of your coverage. This helps match the benefits with your specific needs and, most importantly, your budget. This outcompetes employer sponsored health insurance plans, which are limited in scope and coverage. 

Private Healthcare Access

 

Access to the finest private hospitals and clinics in one's host country is one of the main benefits of having private international health insurance. In addition, private hospitals have excellent connections to insurer networks, provide care with international standards, have shorter wait times, and have staff members who speak English. 

Lifetime Renewability

 

Securing health coverage as an older person can be a challenge. A lot of insurance companies are reluctant to insure those over the age of 60; however, by working with an insurance broker, you should be able to find plans with lifetime renewal as an option. 

Insurance Brokers: Why You Need Them

 

In an agile business environment saturated with information, the last thing you want is to be confused by what your insurer has to offer or how you’ll be covered. Eliminating this confusion is the job of an insurance broker, providing you with a full and simplified understanding of all benefits and coverage terms. 

 

Secondly, when it comes to insurance, miscommunication and misunderstandings can lead to unhappiness and dissatisfaction. Another job of insurance brokers is to make sure that every client is happy and satisfied with their conditions and coverage terms. 

 

This is because an insurance broker’s success hinges upon the satisfaction and trust of expat clients, who trust brokers to act as their intermediaries in securing a comprehensive international health plan to fit their unique needs and budget. 

Pacific Prime: Health Insurance Simplified for You

 

Pacific Prime is an award-winning intermediary that equips individuals moving abroad with the knowledge and self-assurance to make informed insurance decisions. Our insurance specialists offer first-rate assistance, individualized plans, and a fresh perspective on medical care to international clients. 

 

With offices in Hong Kong, Shanghai, Beijing, Singapore, Dubai, Bangkok, London, New York, Miami, Los Angeles, Mexico City, Cebu, Dublin, Kuala Lumpur, and Jakarta, our experience and understanding of international health insurance enable us to provide the best advice and services to our expat clients. 

 

Here are a few ways we can guide you:

 

• Provide you with an understanding of every available insurance plan

 

• Providing unbiased guidance via phone call

 

• Assist you in selecting a plan to suit your unique needs

 

• Help you throughout your expatriate journey

 

To get started, contact us or compare quotes today.