Kammekor wrote: ↑

Tue May 14, 2019 11:42 am

Let's face the truth, for most foreigners in Asia 'self insured' doesn't mean having 10-50k USD in savings to spend if shit hits the fan but it merely means hoping shit won't hit the fan.

Absolutely right, and given the business models of the major hospitals here it wouldn’t take long for the best of nest eggs to be severely dented or wiped out entirely if you require treatment for anything other than the routine. I’ve heard enough first hand horror stories.

Was talking to an old regular in my local last week who appeared with a fresh cast on his arm. 200,000 baht for the operation, fortunately he was insured.. I’d be more concerned with the quality of treatment for anything serious as I know of several mis-diagnosis/treatment that have cost people dearly, a couple terminally.

The Whisperer wrote: ↑

Tue May 14, 2019 12:11 pm

phuketrichard wrote: ↑

Tue May 14, 2019 10:50 am

1st ; they changed the rules and no longer do we get a letter from our embassy showing what we earn/month
OR
deposit 800,000 in the bank for ONLY 3 months
OR
combination
Now we need put 800,000 in for 5 months and keep 400,000 the other 7
OR show a Pension transferred into Thailand from abroad for 65,000 baht/month

In Cambodia the cut off age for personal insurance appears to be age 65.
However, there are a lot of plus points here, eg, you don't need to keep money locked up in a non interest bearing bank account (every 7 years that money will lose about 40% to 50% of its value re RPI.)
At age 50+ no evidence of income etc is required for retirees re obtaining an ER (retirement visa). Its absolutely hassle free.

I feel sure there must be many concerned expats in Thailand, especially those with commitments. For those that are 'free,' maybe its time to move on.

[Admin edit: please learn how to quote ]

I don’t disagree with you’re points but I’d just add that I keep my 800k in an account that gives me monthly interest, not a lot but probably as good as I could get for cash on deposit in the UK. I opted to get my salary paid in Thai baht when I worked in Thailand knowing I would need the 800k for retirement purposes, that money has effectively appreciated by over 50% to me based on currency movement at current rates.

I certainly feel that living in a tourist city the continual drive for increased tourist numbers has made it less enjoyable during peak season, and I can see a time in the future when it makes more sense to come as a tourist if I feel the requirements are getting too onerous. I’d be getting 3 months rather than my normal 5 month stay so no big deal. I don’t intend living here in later life when medical treatment is more likely to be a reality.

davegorman wrote: ↑

Tue May 14, 2019 2:22 pm

$800k is a whole lot of coin. Well done.

800,000 THAI BAHT $25,150

I get 1.25% in my scb.
Vs 8% in a Prasac 1 year account

UPDATE: Phuket Immigration Chief Col Kathathorn Kumthieng confirmed to The Phuket News today (May 14) that he has been informed of the new requirement but that he has yet to receive an order for his office to start applying it when processing applications for one-year Non-Immigrant O-A permits-to-stay.
The requirement applies to all new applicants for one-year non-immigrant O-A visas, and for those applying to “renew” their one-year permits-to-stay, he said.

wow, go figure

The news comes as the Tourism Authority of Thailand (TAT) last month signed a memorandum of understanding with three leading insurance companies to provide an insurance policy, Thailand Travel Shield, for foreign tourists.

https://www.thephuketnews.com/cabinet-a ... SQXIb74.97

phuketrichard wrote: ↑

Tue May 14, 2019 11:59 am

Kammekor wrote: ↑

Tue May 14, 2019 11:42 am

Let's face the truth, for most foreigners in Asia 'self insured' doesn't mean having 10-50k USD in savings to spend if shit hits the fan but it merely means hoping shit won't hit the fan.

Insurance just never made sense

You pay $xxx/year and the insurance company is betting you dont need to use it while you??
what hope you do need to use so your getting something for your money or otherwise its $xxx thrown away... and as you age it costs more...

Yes, i know shit happens but..... we all hope that we dont get sick, if you have insurance or not...

Insurance companies don't bet or hope. These days they use very specific mathematical models to predict the chance of events happening or not, and they add a surcharge for their profit.

Personally I don't think 'hope we don't get sick' is being self insured'. Having serious money in the bank can fulfill that role.