Many people cannot seem to live without having health insurance. Coming from America it seems to be a national obsession there. I know expats here spending 100,000 to 300,000 THB per year on health insurance, for years. They're not rich people and it's a large percentage of their budget. By the time it's most likely to be be needed, at age 75 plus say, they'll have spent millions of THB on it, likely never needed it, and the premiums move up to outrageous amounts that they either cannot afford to continue, or need to change to a cheaper product that doesn't cover what they may likely need, should something happen. For a product that can simply refuse to pay out when they need it to, in which case it was millions of THB wasted.

In your life time, how much have you spent on private health insurance? How much has private health insurance paid out for treatment you needed?

What is your life worth when you need at most?

I couldnt care less if I was seriously sick and passed 77, but that is what Im thinking as a man not even 60 years yet.

29 minutes ago, Packer said:

In your life time, how much have you spent on private health insurance? How much has private health insurance paid out for treatment you needed?

I've paid nothing in health insurance.

Gov min on everything I'm forced to buy.

zero. coming from a country with free healthcare. 🙂

Apparently saved a small fortune by never having, going by some of the quotes for coverage I've seen. Only had 6 jobs (of 30+ jobs over 30 yrs) that offered coverage, but if adding them all up, < 20 yrs coverage by employers, and never really needed. Only 'injuries' were mostly on the job. As was the reason for 1 adult age surgery.

A few unfortunate bounces were paid out of pocket, and with pocket change, nothing expensive, just broken bones.

One surgery here in TH, (25 yrs on) and a couple procedures, again, inexpensive and paid with pocket change. Almost yearly check ups, less than 1 month's ins. premium.

Have one account set aside just for any oops, only ฿1M, and if ever sick, I wouldn't spend more than that, unless they could guarantee 3+ years of good living. Wouldn't let the wife spend any of her retirement funds on keeping me around, certainly not @ 71 already.

Good gene pool, as almost common sense has kept me out of the hospitals.

In USofA I was always covered by group policies.

In Thailand across 3 different companies and 20 years, I am in the near break-even range following 3 inpatient claims.

As noted prior, since I have a monthly income, insurance premiums are manageable. I would not, as many claim on here, find it easy coming up with a big lump sum amount other than via credit card.

45 minutes ago, Hummin said:

What is your life worth when you need at most?

I couldnt care less if I was seriously sick and passed 77, but that is what Im thinking as a man not even 60 years yet.

5hit, I just turned 78.

46 minutes ago, BritManToo said:

Gov min on everything I'm forced to buy.

Please explain the English.

17 minutes ago, JerryM said:

In Thailand across 3 different companies and 20 years, I am in the near break-even range following 3 inpatient claims.

How much have you paid over the 20 years, what were the medical issues, and how much were the bills/claims? Thank you.

44 minutes ago, it is what it is said:

zero. coming from a country with free healthcare. 🙂

Hello brother Serb

35 minutes ago, Packer said:

How much have you paid over the 20 years, what were the medical issues, and how much were the bills/claims? Thank you.

What I said is what I'm willing to say.

38 minutes ago, wil iam not said:

5hit, I just turned 78.

And why I said said by one who haven't turned 69 yet. Perspectives changes as you go.

What is your life worth now compared to when you where 60?

Do you have insurance?

32 minutes ago, Packer said:

How much have you paid over the 20 years, what were the medical issues, and how much were the bills/claims? Thank you.

It doesn't mean anything what you paid and what you gained so far if you still healthy. It's called insurance, look it up

1 hour ago, Packer said:

Many people cannot seem to live without having health insurance. Coming from America it seems to be a national obsession there. I know expats here spending 100,000 to 300,000 THB per year on health insurance, for years. They're not rich people and it's a large percentage of their budget. By the time it's most likely to be be needed, at age 75 plus say, they'll have spent millions of THB on it, likely never needed it, and the premiums move up to outrageous amounts that they either cannot afford to continue, or need to change to a cheaper product that doesn't cover what they may likely need, should something happen. For a product that can simply refuse to pay out when they need it to, in which case it was millions of THB wasted.

In your life time, how much have you spent on private health insurance? How much has private health insurance paid out for treatment you needed?

That's the wrong question:

Most people come here in their retirement age and looking for Health Insurance.

So it doesn't matter how many millions (😂) you spent before.

And you are also wrong to claim there is not an affordable insurance when getting older. It seems just to be an excuse not to have any.

I couldn't tell you how much I have paid in my entire lifetime and anyway, not meaningful as for most of my life I had insurance paid all or in part by employer.

I can tell you that, over the past 8 years (duration of current policy), I paid a total of about USD $29,000 in premiums and my policy paid out over $100,000 in coverage. Bad accident, and then several back surgeries etc -- I've been unlucky of late. I very much hope that in the coming 8 years, the balance will swing back in favor of the insurer. If it does, I will not view it as a "loss" but rather as good fortune.

How much someone had paid out/gotten "back" to date is not, however, relevant. If you had asked me after the first year of my current policy, I would at that point have had no claims, and no reason to expect the sizeable claims that then followed.

That s the whole point. We do not know what lies ahead.

In any financially viable, non-subsidized insurance scheme, the majority of policy holders will pay in more than they receive in benefits while a minority will receive more than they paid in, in some cases dramatically more. That is how it works. And there is absolutely no way of knowing in advance which group you will end up being in.

Insurance is not a form of pre-payment. It is a form of risk-sharing.

1 hour ago, Hummin said:

And why I said said by one who haven't turned 69 yet. Perspectives changes as you go.

What is your life worth now compared to when you where 60?

Do you have insurance?

No

1 hour ago, newbee2022 said:

And you are also wrong to claim there is not an affordable insurance when getting older. It seems just to be an excuse not to have any.

Surely it depends on your disposable income. If, like me, you live comfortably on your pension, if Insurance Premiums are say Bht 50,000 a month more, then it is impossible.

Or I guess you could pay it on a Credit Card, and hope that they will write off the debt when you kick it.

3 hours ago, it is what it is said:

zero. coming from a country with free healthcare. 🙂

The UK has a 'free' NHS, for everyone living there legally or not.

If I went back, I would have to tell lies that I was returning to live out my life, or pay 150% of the costs.

5 minutes ago, wil iam not said:

Surely it depends on your disposable income. If, like me, you live comfortably on your pension, if Insurance Premiums are say Bht 50,000 a month more, then it is impossible.

Or I guess you could pay it on a Credit Card, and hope that they will write off the debt when you kick it.

If you do not have money, you do not have enough credit either. Credit cards doesnt just print themselves with the amount you want. If you ending up in a serious accident, what then? It takes 10 million baht all included to make your life up and go again! What then ?

Well at your age, you can shay bull pies happens, but, at my age ? Or in 10 year when Im going be closer to 70.

10 minutes ago, wil iam not said:

No

Im still interested to know what you life is worth now compared to when you where 55 or 60?

18 minutes ago, Hummin said:

If you do not have money, you do not have enough credit either. Credit cards doesnt just print themselves with the amount you want. If you ending up in a serious accident, what then? It takes 10 million baht all included to make your life up and go again! What then ?

Well at your age, you can shay bull pies happens, but, at my age ? Or in 10 year when Im going be closer to 70.

I have five Credit Cards with reputable banks totalling well over GBP 30k limit. I asked one of them to up my limit and they immediately did so, from 8 to 10k. It is dependant on how much you SAY you have coming in, but of course, they can easily check with your bank(s).

If I end up in a serious accident, or get a bad disease, I shall just let Mother Nature take over.

Now please explain 'shay bull pies''. We have steak & kidney, and cheese & onion in UK, and I have worked in Norway many years ago, but never ate one of those.

2 hours ago, Hummin said:

It doesn't mean anything what you paid and what you gained so far if you still healthy.

It obviously does.

Instead of that money being gone.

It would be in your bank account in full. Or in investments. Not gone forever, never being able to use it or spend it again.

For people that paid into private insurance for decades, then get to 70, 75, or 80 years old and the premiums skyrocket to unpayable amounts, or they have an issue and the company refuses to pay on a technicality, the cost for nothing could easily be hundreds of thousands of USD. They may as well have flushed it down the toilet.

3 hours ago, KhunLA said:

Apparently saved a small fortune by never having, going by some of the quotes for coverage I've seen. Only had 6 jobs (of 30+ jobs over 30 yrs) that offered coverage, but if adding them all up, < 20 yrs coverage by employers, and never really needed. Only 'injuries' were mostly on the job. As was the reason for 1 adult age surgery.

A few unfortunate bounces were paid out of pocket, and with pocket change, nothing expensive, just broken bones.

One surgery here in TH, (25 yrs on) and a couple procedures, again, inexpensive and paid with pocket change. Almost yearly check ups, less than 1 month's ins. premium.

Have one account set aside just for any oops, only ฿1M, and if ever sick, I wouldn't spend more than that, unless they could guarantee 3+ years of good living. Wouldn't let the wife spend any of her retirement funds on keeping me around, certainly not @ 71 already.

Good gene pool, as almost common sense has kept me out of the hospitals.

I recently cancelled my medical insurance @ 75 yo.I was paying 50k/ year baht for 300k baht coverage.Very low amount because of bypass surgery 16 years ago. A full page of exemptions. Basically I was covered from my chin up and knees down.

Like you, I have 1m set aside plus a credit card for future medicaI expenses.I also have a living will signed by my family and given a copy to my Dr.(Gov't hospital) I'm feeling fine for my age and am still walking 3 x a week.

I also don't want my families inheritance going to a huge hospital bill for limited gain.

My bucket list is complete so no regrets.

I needed comprehensive, international health insurance to travel to Korea for work during COVID. I thought it would be good to get a policy that covered me for the future, so it's valid until age 90 with a large annual premium.

5 years of the large premium payments and I've not been to hospital once in that time.

I know it's a lottery, but if I'd put the cash in the bank I'd have well over 500k as a medical fund by now.

It's not an easy judgement to make, as you never know the future, but with hindsight I think cash in the bank would have been a better choice.

27 minutes ago, wil iam not said:

I have five Credit Cards with reputable banks totalling well over GBP 30k limit. I asked one of them to up my limit and they immediately did so, from 8 to 10k. It is dependant on how much you SAY you have coming in, but of course, they can easily check with your bank(s).

If I end up in a serious accident, or get a bad disease, I shall just let Mother Nature take over.

Now please explain 'shay bull pies''. We have steak & kidney, and cheese & onion in UK, and I have worked in Norway many years ago, but never ate one of those.

13 minutes ago, jaideedave said:

I recently cancelled my medical insurance @ 75 yo.I was paying 50k/ year baht for 300k baht coverage.Very low amount because of bypass surgery 16 years ago. A full page of exemptions. Basically I was covered from my chin up and knees down.

Like you, I have 1m set aside plus a credit card for future medicaI expenses.I also have a living will signed by my family and given a copy to my Dr.(Gov't hospital) I'm feeling fine for my age and am still walking 3 x a week.

I also don't want my families inheritance going to a huge hospital bill for limited gain.

My bucket list is complete so no regrets.

29 minutes ago, Packer said:

It obviously does.

Instead of that money being gone.

It would be in your bank account in full. Or in investments. Not gone forever, never being able to use it or spend it again.

For people that paid into private insurance for decades, then get to 70, 75, or 80 years old and the premiums skyrocket to unpayable amounts, or they have an issue and the company refuses to pay on a technicality, the cost for nothing could easily be hundreds of thousands of USD. They may as well have flushed it down the toilet.

Bull translates to S happens if the but if you write is, they modifies it to deleted happens., which covers it perfectly as well.

I would rather pay my insurance for now and until it gets to expensive, than saving everything now. Right now I got enough buffer anyway to cover a few experience happenings, but then it will be no more buffer. So paying for a insurance while it is affordable, and save money at the same time, and then cancel the policy when it gets unfordable without start eating of your buffer.

8 minutes ago, Hummin said:

Bull translates to S happens if the but if you write is, they modifies it to deleted happens., which covers it perfectly as well.

I would rather pay my insurance for now and until it gets to expensive, than saving everything now. Right now I got enough buffer anyway to cover a few experience happenings, but then it will be no more buffer. So paying for a insurance while it is affordable, and save money at the same time, and then cancel the policy when it gets unfordable without start eating of your buffer.

Bull translates to S happens if the but if you write is, they modifies it to deleted happens., which covers it perfectly as well.

This needs a translation to make it understandable...thanks

55 minutes ago, Hummin said:

and then cancel the policy when it gets unfordable without start eating of your buffer.

Which is probably when you will get hit by a car or get cancer or something. Previous money totally wasted. Keep it in your buffer.

It's a gamble with health insurance and a gamble without, I've spent zero on health insurance, i have personal accident insurance where they can't deny the claim because it's an accident.

I'm ready to pony up with the money for treatment if i need to, in most cases for health conditions i should have time to review hospitals incl govt, even going abroad if need be.

Also try to keep healthy with diet and exercise.

I wouldn't want to be worrying about if a claim will be paid, imagine that, spend most of your money on premiums to get a claim denied.

and don't forget, premiums will keep going up until they become unaffordable when you need it the most

I think I've saved a fair bit..

The best insurance I've had has been through work...

1 medivac and 10 day hospital stay: Est Cost: US$50,000

3 Operations (sports injuries): Est Cost US$30,000

I've also gone through periods where I've sourced my own insurance.

(currently 80,000 baht per year) US$2,500

So if we were to multiply that by 25 years - we're looking at US$62,500

If it were not for the serious illness and medivac - Insurance would not have saved me anything - but there is more to it than the cost - there the stress of not worrying.

The issue of course - is as we age the premiums increase significantly.

In a developed country under a government health scheme, your health is not a "product" you buy. A billionaire and a person without a home receive the same life-saving heart surgery from the same surgeons. There are no preexisting conditions barriers and no insensitive by the health provider to make a profit out of you.

Who needs health insurance scams?