Advertorial The Expat Health Insurance Scarcity in Thailand

[ASEAN NOW Sales]

The Expat Health Insurance Scarcity in Thailand

 

 

Ever found yourself looking for a needle in a haystack? You’ve heard it’s out there somewhere, you have no idea where to begin though, and you’ve only got a general idea of what it actually looks like… If you’re a foreigner living and working in Thailand and you’ve tried to find suitable and affordable insurance options, you’ll sympathize with this scenario. You know it exists, the notion of insurance is not a new concept to the world, but no package fits quite right.

 

It would be nice to look to your employer to help you out in this kind of situation, right? Except… Many companies, both Western and Thai who hire in the country, only provide employee benefits that work in line with the Social Security Fund under Thai law. Firstly though, you must contribute for a minimum of three months before you can avail yourself of “free medical care” and even that is only for certain registered hospitals. Secondly, only limited personal health insurance is included as part of the Social Security program. For many expats living and working in Thailand, this coverage is insufficient for potential needs. More comprehensive insurance packages aren’t even on many business’ radar as an appropriate employee benefit.

 

Decent expat insurance in Thailand can practically become a luxury purchase. Bupa Global, Cigna Global, and integraGlobal (for example) seem largely aimed at above average pay brackets. Which makes health coverage inaccessible for those earning hourly working salaries. Affordable health insurance is not always an option, and if you can afford it, it can be a heavily bureaucratic ordeal to wade through. 

 

But wait. There are public health facilities in Thailand, right? And yes, it’s true. It’s possible to get decent medical services without insurance, but such government-funded hospitals are typically crowded, which means waiting times can be long. Plus, the best doctors tend to practice in private hospitals rather than public facilities. Government hospitals also tend to lack the latest medications and be manned by doctors and nurses fresh from university too.

 

So, we’re back to hunting for that needle in a haystack that is appropriate coverage for your circumstances. Travel insurance only tends to work for a limited amount of time, and typically your origin country needs to be your dominant address for liable cover. So, no good if you’re actually living and working in Thailand full time. Many foreigners recognize that Social Security, if they’re lucky enough to even have this as a baseline, just isn’t going to cut it long-term. Moreover, aside from worry-free surgeries, having appropriate insurance removes half the anxiety of going into a hospital. So, what to do?

 

Well, there’s a new option on the market. Recognizing that a large portion of its audience is missing out on options in this space, specially licensed non-bank entity DeeMoney has teamed up with AXA Thailand to offer registered members one month of free coverage when they make a minimum transfer once a month—talk about effortless! DeeMoney is intent on not only providing a cost-effective and streamlined money transfer experience but strive to provide additional benefits too which will make members’ journeys all the more rewarding. This is yet another initiative implemented by DeeMoney to demonstrate its ‘customer first’ value. The programme is aptly called, “More care with every transfer.” 

 

The free cover will commence on the 1st of the month following your initial transfer. So, if you take advantage of DeeMoney to make repeat monthly salary remittance transactions above 50,000 THB, you can gain ongoing coverage for a principal sum of up to 50,000 THB if you are in an accident. The coverage reduces to 25,000 THB if the accident is a result of driving or traveling as a passenger on a motorbike. If you transfer less than 50,000 THB baht (cumulatively), you will still receive a principal sum of 25,000 THB if you are in an accident and 12,500 THB for any motorbike-related incidents.

 

The expression, “health is the greatest wealth,” is more important than ever in today’s fast-paced world. The truth of the matter is though that we also like options for our monetary wealth too! And moving money globally has never been so important in Thailand—especially given that the country’s expatriate population numbers between 500,000 and 1 million (in terms of legal estimates only). 

 

DeeMoney is the only non-bank money transfer service provider in Thailand to offer insurance cover to its customers. Insurance is a big expense for foreigners living in Thailand and this partner initiative with AXA Thailand is just one of many additional benefits that DeeMoney has planned for its customers. 

 

Transfer THB to your origin country with DeeMoney to make huge savings on your international salary remittance transactions. Don’t let Thai local banks bleed you for fees of 1,300 THB or more. Pay a single low-cost fee of 150 THB for transactions up to 800,000 THB. Plus, by opting into DeeMoney for FREE insurance coverage when you make an international transfer, you can make your THB do more for you here and there! 

 

To register and start taking advantage of this free coverage underwritten by AXA Insurance PLC, just pop into a DeeMoney branch or sign up here.

[jack7106]

Will definitely look into this, thank you????????????

[rwill]

KTB palladium card gives you 20K accident coverage(per incident).  Card fee is 1,600 baht/year. You can use it up to age 75.

[NCC1701A]

"More care with every transfer."

 

Is Deemoney run by bar girls?

[kevinmartyn]

It's not that its scarce it is so expensive! 

[khunPer]

It sounds like a Personal Accident cover with up to 50k baht for hospitalization bills – half when riding a motorcycle – like are common available, also from many Thai banks, for a relative modest annual fee; however extended with with accident life-insurance cover, and some level of disability cover.

[Longcut]

Not available in the U.S. or UK.

[Bill Miller]

Is this an accident only policy?

I don't think that will do the job for the proposed requirement for foreigner mandatory cover.

Am I missing something?

[Max69xl]

9 minutes ago, Bill Miller said:

Is this an accident only policy?

I don't think that will do the job for the proposed requirement for foreigner mandatory cover.

Am I missing something?

It seems like an accident insurance, and that's not the type of insurance an older expat is looking for. But, If you are looking for a quite good accident insurance, and you're banking with Bangkok Bank,they offer one for about 5900 Baht/year. It covers up to 100000 Baht. Of course there are exclusions,but that's normal for every type of insurance.

[Max69xl]

On 8/10/2019 at 2:53 PM, khunPer said:

It sounds like a Personal Accident cover with up to 50k baht for hospitalization bills – half when riding a motorcycle – like are common available, also from many Thai banks, for a relative modest annual fee; however extended with with accident life-insurance cover, and some level of disability cover.

50k/25k in hospitals in Phuket or Pattaya isn't very much. It will cover a minor injury only.

[MartinKal]

So this is not the answer to the current concern.

 

The concern gets priority because of the belief that health insurance for those residents not entitled to public sector health treatment, will be made a  compulsory condition for granting a visa and after that permission to stay.

 

But the fundamental worry is how to cover health needs at an affordable price.

[1FinickyOne]

On 8/10/2019 at 1:19 PM, kevinmartyn said:

It's not that its scarce it is so expensive! 

Sure it is, but would you want to take the other side of the deal and take a premium and then have to shell out for the increasingly expensive health care for an elderly person? 

[Max69xl]

2 minutes ago, MartinKal said:

So this is not the answer to the current concern.

 

The concern gets priority because of the belief that health insurance for those residents not entitled to public sector health treatment, will be made a  compulsory condition for granting a visa and after that permission to stay.

 

But the fundamental worry is how to cover health needs at an affordable price.

Everything started with an article in The Nation, about a requirement for health insurance only for people with Long Stay Visa O-A. Then a lot of people got spoked because they misunderstood the type of Visa. The requirement for health insurance already exist if you apply for Long Stay Visa O-X.

[Maestro]

Judging from the OP, this insurance offer is limited to foreigners who live AND work in Thailand.

[Maestro]

A reputable insurance company, which AXA is, would give a link to the full text of the general terms and conditions in the advertisement but I don't see it. Could whoever started this topic please add this link to the OP?

[Max69xl]

4 minutes ago, Maestro said:

A reputable insurance company, which AXA is, would give a link to the full text of the general terms and conditions in the advertisement but I don't see it. Could whoever started this topic please add this link to the OP?

Still,the add was about an accident insurance with a very low coverage. 50k maximum and with exclusions. Google it and you will find more info,or go back to the add and click on DeeMoney or AXA Thailand in blue.

[gamini]

On 8/14/2019 at 10:32 AM, MartinKal said:

So this is not the answer to the current concern.

 

The concern gets priority because of the belief that health insurance for those residents not entitled to public sector health treatment, will be made a  compulsory condition for granting a visa and after that permission to stay.

 

But the fundamental worry is how to cover health needs at an affordable price.

I just had surgery at a major public hospital in Bangkok it was quite a hassle with long waits. I had to wait three days for a bed but eventually was in comfortable public ward and very good doctors and nurses. Private hospitals quoted 10 times the price for the operation. medical insurance here for elderly people will be far higher than simply using public hospitals. The most interesting thing was that if you are married to a Thai and produce your marriage certificate you pay the same prices as Thais.

[lordblackader]

Quote

Decent expat insurance in Thailand can practically become a luxury purchase. Bupa Global, Cigna Global, and integraGlobal (for example) seem largely aimed at above average pay brackets. 

I get this article is nothing more than a paid ad for AXA but telling lies about your competitors is not good form. Also Bupa pulled out of Thailand a few years ago, it was taken over by Aetna. 

[Max69xl]

21 minutes ago, lordblackader said:

I get this article is nothing more than a paid ad for AXA but telling lies about your competitors is not good form. Also Bupa pulled out of Thailand a few years ago, it was taken over by Aetna. 

Check out Pacific Cross. Their health insurance even includes a travel insurance when you're 150km from your permanent address.

[Alsyapal]

Eagerly awaiting details of government health insurance to be announced on the 22nd August 2019 as a 73 year old with previous ailments I find it impossible to find an affordable policy in Thailand.

With any luck a compulsory government insurance will be a reasonable fee covering all conditions, if not it looks like I will have to get married to obtain government hospital Thai rates - a bit drastic.  

[ThomasThBKK]

3 hours ago, Max69xl said:

Check out Pacific Cross. Their health insurance even includes a travel insurance when you're 150km from your permanent address.

ACS offshore gives you the full insurance package in europe for up to 120 days a year.

Good for everyone who's from there, they also have lifetime insurance for everyone subscribing before 60 years...

 

i am not going to switch from a reputable french company with very reasonable pricing to this thai junk -.- 

Think i pay 1000 usd per YEAR for their silver package and 1 mio USD/year coverage...without options, for 2k you get all the bells and whistles tho for multiple countries and 120 days in the EU...

 

The actual insurer is Allianz in this case, ACS is only the broker imo

[Lamphen]

In my humble opinion - this is not a satisfactory health insurance, regardless if one is employed by a multinational company - or if one is an expat working on an individual basis.  It provides cover only in case of an accident. Also, it will only provide cover if you transfer money out of Thailand using 'deemoney'. To The best of my knowledge - most expats working in Thailand have already an adequate health insurance via their employer, hence the coverage is at best a 'double indemnity' which will be redundant as the bill will be paid only once. However - just my opinion.

[joebrown]

On 8/17/2019 at 11:05 AM, gamini said:

I just had surgery at a major public hospital in Bangkok it was quite a hassle with long waits. I had to wait three days for a bed but eventually was in comfortable public ward and very good doctors and nurses. Private hospitals quoted 10 times the price for the operation. medical insurance here for elderly people will be far higher than simply using public hospitals. The most interesting thing was that if you are married to a Thai and produce your marriage certificate you pay the same prices as Thais.

I assume that you are married to a Thai and on production of your marriage certificate you paid the same as a Thai. I've never heard of this before and am surprised because many, if not all government hospitals charge non-Thais at a premium rate for all care, including medicines. I am married to a Thai national.

Which hospital did you attend for your surgery?

 

[DannyCarlton]

On 8/21/2019 at 8:29 AM, Alsyapal said:

Eagerly awaiting details of government health insurance to be announced on the 22nd August 2019 as a 73 year old with previous ailments I find it impossible to find an affordable policy in Thailand.

With any luck a compulsory government insurance will be a reasonable fee covering all conditions, if not it looks like I will have to get married to obtain government hospital Thai rates - a bit drastic.  

Didn't happen, just as it didn't come into force on July 1st as previously reported.

 

More scaremonger reporting. We rely on TV for factual reporting on issues such as this. Please, no more scaremongering.

 

If it did come into force, you would be tied into obtaining insurance from a small number of Thai Insurance companies. No prizes for guessing who has a vested interest in them. Would be prohibitively expensive.

 

 

[kevinmartyn]

No not a "Scarcity" just so ridiculously expensive! Anywhere from $6,000 to 24,000 USD per year for foreign over 60!

[Deerculler]

Perhaps it would be better if all us oldies just committed suicide and then no more problems for the young ones who we brought into the world and educated and nurtured so they can work out how not to helped all the oldies who helped them.

[Surasak]

On 8/24/2019 at 10:47 AM, joebrown said:

I assume that you are married to a Thai and on production of your marriage certificate you paid the same as a Thai. I've never heard of this before and am surprised because many, if not all government hospitals charge non-Thais at a premium rate for all care, including medicines. I am married to a Thai national.

Which hospital did you attend for your surgery?

 

I would be interested in the answer to that question also.

[Deerculler]

At the time I was not married when I had surgery.

I had travel insurance from my home country.

I had to pay and then make a claim to the insurance.

The surgery was done at the Surin Govt. Hospital.

[Max69xl]

5 minutes ago, Deerculler said:

At the time I was not married when I had surgery.

I had travel insurance from my home country.

I had to pay and then make a claim to the insurance.

The surgery was done at the Surin Govt. Hospital.

You had an insurance and went to a Govt. Hospital in Surin? Weren't there any private hospitals at the time? For many years in private hospitals out in the sticks you could get a private room for about 2000 baht/night. The price is almost the same today. The rooms look almost exactly the same everywhere in Thailand. Bathroom, tv with remote, fridge and sofa. Small balcony and 3 meals/day. Not to bad if you're not to sick. 

[MAGA 2020]

I've been with AIA many years more affordable than AXA.