Insurance mandatory for long-stay foreigners

Thailand is Cambodia's neighbor to the West, and this forum is dedicated to Thai news, stories, reviews, blogs, videos, Thai people and anything else related to the country. A lot of expats have both lived and worked in Cambodia and Thailand, and this area is a place to discuss all aspects of life in Thailand and what's going on there. Most topics are about Bangkok and Pattaya because of their larger populations of expatriates and tourists in those cities, but this is for all things Thai.
User avatar
Cowshed Cowboy
Expatriate
Posts: 2033
Joined: Thu May 15, 2014 4:25 pm
Reputation: 978
Thailand

Re: Insurance mandatory for long-stay foreigners

Post by Cowshed Cowboy »

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.
Yes sir, I can boogie, I can boogie, boogie, boogie all night long.
User avatar
Cowshed Cowboy
Expatriate
Posts: 2033
Joined: Thu May 15, 2014 4:25 pm
Reputation: 978
Thailand

Re: Insurance mandatory for long-stay foreigners

Post by Cowshed Cowboy »

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 :wave: ]
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.
Yes sir, I can boogie, I can boogie, boogie, boogie all night long.
davegorman
BANNED
Posts: 1048
Joined: Wed Nov 14, 2018 10:08 am
Reputation: 219
France

Re: Insurance mandatory for long-stay foreigners

Post by davegorman »

$800k is a whole lot of coin. Well done.
User avatar
phuketrichard
Expatriate
Posts: 16790
Joined: Wed May 14, 2014 5:17 pm
Reputation: 5733
Location: Atlantis
Aruba

Re: Insurance mandatory for long-stay foreigners

Post by phuketrichard »

davegorman wrote: Tue May 14, 2019 2:22 pm $800k is a whole lot of coin. Well done.
800,000 THAI BAHT $25,150 :plus1:

I get 1.25% in my scb.
Vs 8% in a Prasac 1 year account
In a nation run by swine, all pigs are upward-mobile and the rest of us are fucked until we can put our acts together: not necessarily to win, but mainly to keep from losing completely. HST
User avatar
phuketrichard
Expatriate
Posts: 16790
Joined: Wed May 14, 2014 5:17 pm
Reputation: 5733
Location: Atlantis
Aruba

Re: Insurance mandatory for long-stay foreigners

Post by phuketrichard »

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 :beer3:
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
In a nation run by swine, all pigs are upward-mobile and the rest of us are fucked until we can put our acts together: not necessarily to win, but mainly to keep from losing completely. HST
davegorman
BANNED
Posts: 1048
Joined: Wed Nov 14, 2018 10:08 am
Reputation: 219
France

Re: Insurance mandatory for long-stay foreigners

Post by davegorman »

phuketrichard wrote: Tue May 14, 2019 2:26 pm
davegorman wrote: Tue May 14, 2019 2:22 pm $800k is a whole lot of coin. Well done.
800,000 THAI BAHT $25,150 :plus1:

I get 1.25% in my scb.
Vs 8% in a Prasac 1 year account
Lol!
If I had $800k I certainly wouldn’t be in SE Asia. Probably South of France.

Didn’t those MFI used to be 12%?
I get .02% in my saving account back home!
User avatar
Cam Nivag
BANNED
Posts: 2511
Joined: Wed May 14, 2014 10:17 am
Reputation: 735
Sao Tome & Principe

Re: Insurance mandatory for long-stay foreigners

Post by Cam Nivag »

Ricky Dunn wrote: Tue May 14, 2019 11:30 am Good thing I got out when I did, Thais don't want foreigners in their country. I hated all their childish rules and speech crimes.
They don’t want broke foreigners.
Anthony's Weiner
Expatriate
Posts: 1634
Joined: Tue Nov 21, 2017 4:00 am
Reputation: 1076
United States of America

Re: Insurance mandatory for long-stay foreigners

Post by Anthony's Weiner »

Cam Nivag wrote: Tue May 14, 2019 2:46 pm
Ricky Dunn wrote: Tue May 14, 2019 11:30 am Good thing I got out when I did, Thais don't want foreigners in their country. I hated all their childish rules and speech crimes.
They don’t want broke foreigners.
I can 't think of many countries that do, can you?
User avatar
Kammekor
Expatriate
Posts: 6375
Joined: Fri Sep 01, 2017 12:50 pm
Reputation: 2916
Cambodia

Re: Insurance mandatory for long-stay foreigners

Post by Kammekor »

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.
davegorman
BANNED
Posts: 1048
Joined: Wed Nov 14, 2018 10:08 am
Reputation: 219
France

Re: Insurance mandatory for long-stay foreigners

Post by davegorman »

There’s even re-insurers who insure the insurers against loss. They have even higher risk!

It’s +55 for an ER without documentation not 50.
Post Reply Previous topicNext topic
  • Similar Topics
    Replies
    Views
    Last post

Who is online

Users browsing this forum: Amazon [Bot], KunKhmerSR and 166 guests