Thailand Retirement Visa Health Insurance: The Complete Guide

Thailand Retirement Visa Health Insurance: The Complete Guide

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If you have obtained questions concerning the necessary retirement visa medical health insurance requirement (O-A visa), this FAQ will reply these questions, and way more.

I’ll cowl the next

  • Why you want medical health insurance.
  • Who the accredited corporations are.
  • How a lot you may count on to pay.
  • How to get it cheaper than marketed.
  • And how one can keep away from this requirement altogether!

o-a-visa-insurance-guide

What is an O-A (Retirement) Visa?

The O-A is often often known as a ‘retirement visa’, although there is not formally a visa referred to as the ‘retirement visa’.

It is for these aged 50+ who need to keep in Thailand for a interval of 1 yr, with out the intention of working. You can prolong after the yr is up, supplied you meet the monetary necessities.

The O-A is obtained in your house nation and, while you enter Thailand, you’re stamped in for a yr.

The new necessary medical health insurance rule applies to each new Non-Immigrant O-A visa candidates and present Non-Immigrant O-A visa holders who obtained the visa after the enforcement date.

When did the brand new retirement visa insurance coverage rule start?

The rule got here in on October 31, 2019.

What if I obtained my O-A visa earlier than this date?

The official line is as follows:

“An alien, who has been granted Non-Immigrant Visa Class O-A (not exceeding 1 year) and has been permitted to stay in the Kingdom before this order takes effect (October 31, 2019), will be able to continual to stay in the Kingdom for the granted length of stay”.

What different visas are affected by this rule?

None. However, holders of the Non-Immigrant O-X visa have wanted necessary insurance coverage since 2017.

Why introduce necessary medical health insurance?

Back in May 2019, a consultant of the International Health Division (Health Service Support Department), acknowledged that in 2017 and 2018, foreigners incurred non-paid medical payments amounting to 349 million Baht, and 305 million Baht, respectively.

The information present that in 2017, 565,000 out of three.three million guests did not pay their medical payments. In 2018, the determine rose to 680,000 out of three.42 million guests.

They say nearly all of unpaid payments have been from retirees on long-stay visas.

I’m not satisfied of that, however what’s true is that these 50+ years previous usually tend to develop long-term sickness. The invoice for coronary heart illness, most cancers, type-2 diabetes problems, and many others., is usually a very costly one.

But do not most expats have insurance coverage anyway?

You would suppose so. Most I meet do. And nearly all of tales within the papers surrounding unpaid medical payments are normally concerning vacationers in bike accidents.

A greater answer might need been:

A. charging a 500 Baht entry price to every individual coming into the nation (per yr) – this is able to have coated the price of unpaid payments cited by the well being division.

B. by ensuring everybody who enters the nation has medical insurance coverage!

But we’re the place we are actually. Let’s transfer on.

How a lot cowl do I would like?

The new rule specifies that the applicant or visa holder will need to have medical health insurance that covers not lower than 40,000 Baht for outpatient and 400,000 Baht for inpatient medical charges.

Where do I get my retirement visa medical health insurance?

Those in cost have give you an accredited record of native insurance coverage suppliers:

The corporations are as follows:

  1. Thai Health Insurance
  2. LMG
  3. The Viriyah
  4. Pacific
  5. Falcon
  6. Thaivivat
  7. AXA
  8. Navakij
  9. Dhipaya
  10. Asia Insurance
  11. Aetna
  12. Sompo Insurance

You have to make use of certainly one of these suppliers and current your premium along with your visa utility. The premium should meet the minimal necessities.

How a lot are the premiums?

Reasonable, I suppose, relying in your change price, and if the insurance coverage cowl is solely for Thailand. Once you get to 60+ years it begins to get costly. And if you’d like regional or worldwide cowl the value rockets
I’ve had a good few emails from disgruntled readers. Here’s one which explains how restrictive this new rule might be for these over 65 and 70:

four carriers on the Thailand Long Term Insurance web site will insure me at 70 years or older. For me at age 71, the charges vary from 69,000 to 81,000 Baht per yr. This is previous to an examination and underwriting and topic to vary.

The charges are nearly double what a 65 yr previous pays.  At 75 years they improve 33% and at 80 66%, respectively.

So solely four out of the 7 will truly insure those that are 70+. And for these 80+, there aren’t any choices.

Indeed, Thaivivat Insurance goes highest when it comes to age. They will insure you at 76 years previous, with renewals as much as 100 years previous – beginning at 120,000 Baht.

Is there a less expensive possibility?

Yes. I discovered that when you use the Mr Prakan web site you may can shave a bit off the premiums.

This website covers quite a few corporations and 5 off the O-An inventory:

  1. AXA
  2. Pacific Cross
  3. LMG
  4. Viriyah
  5. Thaivivat

So you may get cowl from a kind of accredited suppliers and get monetary savings on going by means of the federal government web site.

Here’s a few quotes I obtained primarily based on being 50 years previous and exceeding the 40ok outpatient and 400ok inpatient cowl. I’m 41 however to be eligible for an O-A visa it’s important to be 50.

thailand-mandatory-health-insurance

I do not need this insurance coverage/have my very own, what can I do?

Don’t get an O-A visa.

But I need to retire in Thailand, is there one other manner?

Yes. Get a Non Immigrant O Visa. You do not want the necessary medical health insurance for this visa.

How is a Non Immigrant O Visa totally different from the O-A?

An ‘O’ class visa might be issued for a spread of functions equivalent to visiting household or mates in Thailand, taking a voluntary job, getting medical remedy, attending a judicial course of, and even to work as diplomat’s housekeeper.

It will also be issued for the aim of retirement. Good information.

Where retirement is anxious, you may receive a single entry Non Immigrant O Visa from your own home nation, or neighboring nation to Thailand, which provides you entry to Thailand for 90 days.

After 60 days in Thailand, you may apply for a 1-year extension at an immigration workplace – offering you meet the monetary necessities, as stipulated in my retirement visa put up.

Put merely: the Non O Visa doesn’t require the necessary medical health insurance, and the O-A does.

I would like nonetheless need good medical health insurance. Any suggestions?

Yes. Check out these suppliers right here. Also, you may get a direct quote from Cigna by clicking right here. It takes 2 minutes to do.

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