Advertorial Health Insurance Costs in Thailand

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How much does health insurance cost in Thailand now?

Whether you’re already in Thailand or someone who’s considering relocating to Thailand, healthcare is an important aspect to consider. As the world recovers from the impact of COVID-19, this might be a good time to re-evaluate your healthcare plan.

According to the latest Cost of International Health Insurance Report 2023 by Pacific Prime, the average premiums for international private medical insurance (IPMI) plans are increasing across the globe. 

Thailand - still one of the cheapest countries to get insured

When looking for a health insurance plan before you look at the nitty gritty details, you should consider your budget and the cost of health insurance in Thailand. Based on the data collected, in Thailand, the average premium for individual IPMI plans in 2022 stood at USD $3,594, a whopping 77% increase (one of the highest from the data collected) when compared to the previous year. Despite the massive increase, Thailand is still one of the cheapest countries to get insured in–the country ranked 71 for the most expensive countries to get insured in (out of 100 countries). 

Looking at family plans, Thailand also saw a steep surge in cost. In 2021, the country ranked last for the most expensive country to get insured based on the average cost of international health insurance for families among the 100 countries surveyed. In 2022, the average cost stood at USD $11,683, and the country rose to the 50th spot with a significant 59% increase when compared to 2021 (USD $7,367). 

Possible causes of cost spike

The cost spike had been caused by a number of factors, from the general life expectancy increase to just good ol’ fashion inflation. As life expectancy increases, the need for medical services will also increase.

In 2019, the Thai government also extended their dual pricing policy to include public hospitals, directly raising the price of medical services for expats who are classified as tier 2 on the pricing system and retirees and tourists who are classified as tier 3 (most expensive). This could directly affect the cost of health insurance in Thailand for foreigners.

After COVID-19, the general public have become more aware of their personal health and maintenance. As one of Asia’s most popular medical tourist destinations, the demand for healthcare services in both the public and private sectors will see a surge. Any time demand surges, so will the price.

Learn more from Pacific Prime

If you are interested in reading more information on the cost of international health insurances, please download your free copy of the Cost of International Health Insurance Report 2023 to find out the global trends.

With over 20 years in the field, Pacific Prime Thailand is your trusted partner for all things insurance. Pacific Prime works together with both local and international insurers in Thailand and offer a wide range of insurance plans for their customers.

 

Their team of professionals can help you navigate the complicated details and present to you plans that best fits your needs and budget. Contact them today to get a free quote!