Why more retirees in Thailand are switching to long-term health insurance

[watchcat]

On 6/5/2025 at 10:09 AM, Anthony mellows said:

Too right.I got a good first year offer, then after 3 years they put the annual charge up 25%.Never had a claim either.

 

I always self-insure, annual charge never up.

[jerrymahoney]

REDUX 30 JUN 2023

[Yellowtail]

5 minutes ago, jerrymahoney said:

REDUX 30 JUN 2023

The last two companies I worked for self-insured, and it seems to be trending in that direction. 

 

Choosing to self-insure is a bad choice for people that can't afford the premiums.

 

But if one is old with preexisting conditions and have Medicare or some-such in your home country, and you're well-funded, I think it can make sense. Having Thai SS medical is a big plus as well. 

 

It is hard to imagine any emergency medical care in Thailand that would cost more than one could put on a high limit credit card, and one can probably can probably fly same or next day most anywhere for under $10K. 

 

 

[jerrymahoney]

When I worked in food/grocery advertising many years back, there was a given:

The 2 groups of people that use food store coupons tend to be the very poor and the very rich.

People that could donate a wing to the hospital still have health insurance because they would kick themselves silly if they ever had to pay a claim that exceed by far any premiums paid in.

[Yellowtail]

1 minute ago, jerrymahoney said:

When I worked in food/grocery advertising many years back, there was a given:

The 2 groups of people that use food store coupons tend to be the very poor and the very rich.

People that could donate a wing to the hospital still have health insurance because they would kick themselves silly if they ever had to pay a claim that exceed by far any premiums paid in.

The very rich don't do their own grocery shopping, at least not at stores that take food stamps. I have never used food stamps. I have taken them for dope and sent someone else to the store to spend them. 

 

People that can donate a wing to the hospital have a private physician on the payroll and they still have health insurance because they have companies and or foundations that have group plans

 

The "rich" (not rich enough to donate a wing) are all moving to concierge medicine whereby they pay an annual or monthly fee that gives them personal care from their primary care physician, as well as same-day appointments, 24/7 physician availability and after-hours appointments. These are typically people that are already on group plans. 

 

 

 

 

[jerrymahoney]

Back to Thailand, buying insurance on here gets a reaction similar to 'Oh I just use an agent' versus someone who goes to immigration -- and I was told by one of the forum regulars that, even though I buy insurance I should self-insure anyway, so I am covered WHEN your claim is denied.

As far as my 20 years insurance coverage in Thailand, claims vs. premiums is just about break-even.

A benefit to me is that I can handle annual premiums for insurance, but coming up with a big lump sum claim would be doable but noy easy.

[Yellowtail]

1 hour ago, jerrymahoney said:

Back to Thailand, buying insurance on here gets a reaction similar to 'Oh I just use an agent' versus someone who goes to immigration -- and I was told by one of the forum regulars that, even though I buy insurance I should self-insure anyway, so I am covered WHEN your claim is denied.

I think that is good advice, but of the hundreds of claims I submitted, only a few were denied, and when I squeaked, they reversed the denial. 

 

I paid for everything, and just submitted the bills for approval. They reimbursed in US$ to my US account, and I actually netted money, because the exchange rate on my credit card was always 1-2% better than their reimbursement rate. 

1 hour ago, jerrymahoney said:

As far as my 20 years insurance coverage in Thailand, claims vs. premiums is just about break-even.

A benefit to me is that I can handle annual premiums for insurance, but coming up with a big lump sum claim would be doable but noy easy.

You pays your money, and you takes your chances.