Health Insurance for the over 70’s

[Tazmo]

As I worked for the NHS in the UK, I never had Health Insurance.

 

But a few years after retiring in Thailand, I read that Insurance would be necessary to renew your visa.

 

I researched several Companies,then contacted a Broker who insisted that I need Insurance cover.

 

 I took out a Policy in 2019 for £2,711.31 per year. Then found out from my Visa Agent that with my visa, no Insurance was necessary.

However I continued with the Policy, although the Premium kept increasing each year and I had made no claims.

 

I  have been paying for my own hospital treatment, which included in patient for dengue fever etc etc and most  recently paid, 28K THB for a colonoscopy and removal of polyps.

 

My excess on my Policy is £2,000. so I am unable to claim, for anything less than that, and reducing the 'excess' will increase my premium!

 

This year my premium has climbed to £3,148.09.

I decided to cancel the Policy altogether. I can’t afford it on my pension!

I realize it’s taking a risk Incase of emergencies, but hopefully I will return to the UK if anything major is required.

 

Any experience with Insurance cover for the over 70’s?  

[Nemises]

Get a visa that doesn't require health insurance ...or marry a Thai government employee.

[scubascuba3]

I don't see the point in having health insurance when you have to cancel when you need it the most, might as well save up max possible

[Ben Zioner]

Why do some many people drop their cover when they retire?

[amexpat]

2 hours ago, Nemises said:

Get a visa that doesn't require health insurance ...or marry a Thai government employee.

Visa is not the point. OP seeks affordable coverage - which is very unlikely.

[amexpat]

31 minutes ago, Ben Zioner said:

Why do some many people drop their cover when they retire?

Because premiums become exorbitant and exclusions abound. 

[Ben Zioner]

1 minute ago, amexpat said:

Because premiums become exorbitant and exclusions abound. 

That's not correct I pay the same as a 25 years old joining the organisation today.  

[Doctor Tom]

I self insure, no health cover, bar accident cover on my car insurance. In 7 years I have spent circa 80,000 Baht in hospital fees, including for Wet AMD treatment and a carcinoma removal and after care.  I am quite comfortable with no insurance.  In both cases I was given a good discount by the consultant because I was self financing. To be honest, with the state of the UK NHS, I would be going private if I was living in the UK, and it would be massively more expensive.  My friend had a hip replacement in Thailand and he opted for a Thai government hospital. He had to wait for treatment, but the costs were considerably lower than in an international hospital.  My view is that unless you have an underlying serious condition, and none of us really knows if we will develop one in older age, there comes an obvious cut off point, where the cost of insurance, against the cost of private treatment, makes it much more practical to self insure.  

[Doctor Tom]

13 minutes ago, Ben Zioner said:

That's not correct I pay the same as a 25 years old joining the organisation today.  

Then you are the exception

[scubascuba3]

14 minutes ago, Ben Zioner said:

That's not correct I pay the same as a 25 years old joining the organisation today.  

it does get much more expensive as you get to 70s/80s, i saw Sheryl saying her premium has increased to US$5k+

[Ben Zioner]

2 minutes ago, scubascuba3 said:

it does get much more expensive as you get to 70s/80s, i saw Sheryl saying her premium has increased to US$5k+

I was talking about about keeping the cover from your employer once you retire.

 

I think this is available to most US civil servants, many large corporation and the UN. I belong to the last group. The way is works is quite simple: the underwriter assesses the whole group of employees and retirees instead of assessing individuals. The premium (millions) is paid by the organisation and fully or  partly recovered from the employees and retirees.

 

This is not uncommon at all. Then of course the question is wether this cover works in Thailand. In my case, being from a UN organisation, obviously the cover had to be international. And very honestly, if that hadn't been the case I wouldn't have retired here. As you get older having to face massive medical expenses isn't a possibility anymore, it becomes a damn certainty.

[scubascuba3]

13 minutes ago, Ben Zioner said:

I was talking about about keeping the cover from your employer once you retire.

 

I think this is available to most US civil servants, many large corporation and the UN. I belong to the last group. The way is works is quite simple: the underwriter assesses the whole group of employees and retirees instead of assessing individuals. The premium (millions) is paid by the organisation and fully or  partly recovered from the employees and retirees.

 

This is not uncommon at all. Then of course the question is wether this cover works in Thailand. In my case, being from a UN organisation, obviously the cover had to be international. And very honestly, if that hadn't been the case I wouldn't have retired here. As you get older having to face massive medical expenses isn't a possibility anymore, it becomes a damn certainty.

Most people don't have that luxury of continuing employer cover

[Purdey]

I guess you could get estimates for various medical procedures and operations and figure out whether you can afford them by paying out of pocket rather than have insurance. I know someone who does that, whereas I still have insurance through my company. Talking about in Thailand only.

 

My mother had private insurance, which boasted wonderful things, but when she was diagnosed with cancer, the insurance company refused to pay for treatment. 

 

Edited May 29 by Purdey

[Sheryl]

I could provide some suggestions as to specific policies if you provided information on your state of health and prior surgeries/hospitalizations/regular medications. Options for newly enrolling are limited at your age but depending on the aforementioned details, there may be some options.

 

HOWEVER, all are likely to cost about what you were paying when you dropped your prior insurance, if not more. Over the age of 70, even with a 2,000 excess, a decent policy is likely  to cost 4,000+ a year.  It does not  matter whether you personally have had claims, it matters what the average pay out for insured persons your age is. That is how insurance works. (Also, past history of claims is not a very good predictor of the future especially for older people. Quite normal to have no hospitalizations / significant problems up to that age and then to start having them frequently...sooner or later).

 

If you opt to "self insure" make sure you have readily available at  3-5 million baht (1-3 million is willing to use only government hospitals) and a means to replenish it as used. Most people here who say they are "self insured" are in fact uninsured, or under-insured.  Sooner or later this because a major problem.

[TheFishman1]

I just renewed my policy with the same insurance company last year. Say it was around $5100 this year went up till about $5700 or $5800 is very excellent insurance. They usually pay for any medical services like operations I need that any hassle Once I reach $2000 deductible any operation has no deductible. They pay US$1000 and medicine a year one year free medical exam immunization shots free up to a certain amount overall I’m pretty happy with Insurance I have. TIT

[BE88]

49 minutes ago, Sheryl said:

I could provide some suggestions as to specific policies if you provided information on your state of health and prior surgeries/hospitalizations/regular medications. Options for newly enrolling are limited at your age but depending on the aforementioned details, there may be some options.

 

HOWEVER, all are likely to cost about what you were paying when you dropped your prior insurance, if not more. Over the age of 70, even with a 2,000 excess, a decent policy is likely  to cost 4,000+ a year.  It does not  matter whether you personally have had claims, it matters what the average pay out for insured persons your age is. That is how insurance works. (Also, past history of claims is not a very good predictor of the future especially for older people. Quite normal to have no hospitalizations / significant problems up to that age and then to start having them frequently...sooner or later).

 

If you opt to "self insure" make sure you have readily available at  3-5 million baht (1-3 million is willing to use only government hospitals) and a means to replenish it as used. Most people here who say they are "self insured" are in fact uninsured, or under-insured.  Sooner or later this because a major problem.

 

Not if every month you deposit the money you pay to your insurance in the bank and you have between 3 and 5 million, it is clear that if you start at 70 and then later reach these sums, or simply if you have some previous savings and therefore You say you are self insured which I think is the majority on this forum who claim to be self insured

 

[ujayujay]

3 hours ago, Ben Zioner said:

That's not correct I pay the same as a 25 years old joining the organisation today.  

So you surely share details with us

[Tazmo]

Thanks for the latest and all the various suggestions. 
Sorry to sound cliche, but I heard it all before!

 

 I’m fully aware of costs with aging;  history etc etc, and all the limitations, risks etc, but I have taken the decision to opt out.

 

 I will continue as usual to pay as I go. I have paid several thousands to date!

 

In my last job here in Thailand, the Company’s Insurance didn’t cover me because I was over 65. I never knew this until my Medical check up for my last work permit! I was reimbursed by my Company for that bill.

 

I can still get Travel Insurance at a reasonable price for now anyway.

 

But I appreciate your time and contributions.

 

 

[sandyf]

3 hours ago, scubascuba3 said:

Most people don't have that luxury of continuing employer cover

And some us never had a pension or health cover from employer in the first place.

[newbee2022]

6 hours ago, Tazmo said:

As I worked for the NHS in the UK, I never had Health Insurance.

 

But a few years after retiring in Thailand, I read that Insurance would be necessary to renew your visa.

 

I researched several Companies,then contacted a Broker who insisted that I need Insurance cover.

 

 I took out a Policy in 2019 for £2,711.31 per year. Then found out from my Visa Agent that with my visa, no Insurance was necessary.

However I continued with the Policy, although the Premium kept increasing each year and I had made no claims.

 

I  have been paying for my own hospital treatment, which included in patient for dengue fever etc etc and most  recently paid, 28K THB for a colonoscopy and removal of polyps.

 

My excess on my Policy is £2,000. so I am unable to claim, for anything less than that, and reducing the 'excess' will increase my premium!

 

This year my premium has climbed to £3,148.09.

I decided to cancel the Policy altogether. I can’t afford it on my pension!

I realize it’s taking a risk Incase of emergencies, but hopefully I will return to the UK if anything major is required.

 

Any experience with Insurance cover for the over 70’s?  

I know many people are suspicious but I still believe WRLife is quite affordable and got good offers even with preconditions.

However you have to read the contract carefully. 

Even if your almost 80 you wouldn't pay more than 3.150 pounds. No excess. It will cover more than 5 million.

Go for an online quotation.🙏

[Mike Lister]

I "self insured" for 18 years, during which time my medical bills totaled about THB 250k. Three years ago I bought a very expensive Thai based policy with a high deductible and  many many exclusions. After one year the company was taken over by a larger company and my insurance was cancelled. I looked at buying a policy through Dubai which was much better value and managed under totally different rules but decided against it. Consequently I reverted to paying my own way which is not for everyone.

 

Whilst major medical events can consume many millions of baht, I think you have to be very unlucky to end up in that situation. I recently had my thyroid removed by a top rated hospital and endured 5 days of first rate care. The cost was 170k Baht, about the same as one years health insurance premium. I regret the year I spent being insured, it was bad judgement on my part.

[Doctor Tom]

3 hours ago, Purdey said:

I guess you could get estimates for various medical procedures and operations and figure out whether you can afford them by paying out of pocket rather than have insuranc

I did exactly that.  I took a bad case scenario of a quadruple heart bypass, with full after care, then added 100 % .  That is my minimum medical reserve fund, although I keep more than that. So far my medical bills have been paid using  my regular monthly income, not touching the reserve. 

Edited May 29 by Doctor Tom

[noobexpat]

I'm 49 and very healthy.

Keep +1.5m in the thai bank. Bangkok bank app has a 'quick display' feature without a pin code. My plan would be to show the balance to demonstrate i have a deposit.

 

+10m in cash is quickly accessible from western account. 

 

[digger70]

4 hours ago, Ben Zioner said:

That's not correct I pay the same as a 25 years old joining the organisation today.  

Well now you must be also 25  or not telling the truth. 

[Mike Lister]

1 minute ago, noobexpat said:

I'm 49 and very healthy.

Keep +1.5m in the thai bank. Bangkok bank app has a 'quick display' feature without a pin code. My plan would be to show the balance to demonstrate i have a deposit.

 

+10m in cash is quickly accessible from western account. 

 

My experience is that simply showing you have the money for a deposit is not enough, the hospitals want an estimated amount transferred to their account, before significant service is rendered. 

[Doctor Tom]

2 hours ago, TheFishman1 said:

I just renewed my policy with the same insurance company last year. Say it was around $5100 this year went up till about $5700 or $5800 is very excellent insurance. They usually pay for any medical services like operations I need that any hassle Once I reach $2000 deductible any operation has no deductible. They pay US$1000 and medicine a year one year free medical exam immunization shots free up to a certain amount overall I’m pretty happy with Insurance I have. TIT

If you are in Thailand,  that is outrageously expensive. If you are in the US, then bad luck mate.  If you are in LOS, just work out how much you will pay in premiums over, say the next 10 years and you could build a whole new body for that amount.  You Sir are being Royally ripped off. 

[TigerandDog]

5 hours ago, scubascuba3 said:

it does get much more expensive as you get to 70s/80s, i saw Sheryl saying her premium has increased to US$5k+

My premium this year was approx AUD $4,100 (THB 99,100.00 - or approx US $2,700.00) after a 10% no claim bonus was applied and having a THB 40k deductible.  Next year and 2026 the premium should remain the same as the policy's renewal dates will be before my 75th & 76th birthday. The premiums will definitely increase in 2027 and should then remain unchanged for the 76- 80 age bracket unless the need arises to make a claim. My policy is for the US $100k (THB 3 million) currently required for OA retirement.

[Ben Zioner]

1 hour ago, digger70 said:

Well now you must be also 25  or not telling the truth. 

You guys just don't get it. I am over 70. Our Health Plan covers thousands of people, employees, dependents  and retirees . The premium per head is about Sfr 600 (THB 24000) a month and about half of that for Children. Depending on grade the Organisation pays between 45%(Directors) and 65% (Young professionals) of the individual share, as a retiree I pay 35%. So I pay the same as a young P2 joining today.

 

Feel free to ask any other question, as you seem to need education to understand proper health cover.

 

Maybe this could help: In a proper corporate health cover the the risk is mutualised between all participants.

Edited May 29 by Ben Zioner

[Ben Zioner]

1 hour ago, Mike Lister said:

My experience is that simply showing you have the money for a deposit is not enough, the hospitals want an estimated amount transferred to their account, before significant service is rendered. 

Yep, Bumrungrad will require a deposit or a guarantee from an Insurance. 

 

[Surasak]

6 hours ago, Ben Zioner said:

That's not correct I pay the same as a 25 years old joining the organisation today.  

With which company and how old are you?