Can you offer Thai Health Insurance to a Retiree?
Pacific Prime can offer comprehensive expatriate health insurance plans to individuals who are currently located in Thailand, including retirees. Thai health insurance plans which we offer can provide a range of coverage benefits from which you are able to select when purchasing a policy, ensuring that you have the highest levels of protection possible for the duration of your stay in the country.
The premium you will pay for a Thai medical insurance policy will depend on a number of factors. The first, as you have identified in your question, is the age of the policyholder. This is one of the most important considerations when calculating the premium for a Thai health insurance plan due to the fact that older individuals are often more susceptible to developing a severe illness than younger people. However, age is not the only variable that will be looked at when considering the expatriate health insurance premium.
Another important factor is the Area of Geographical Coverage afforded to you by your Thailand health insurance plan. Generally, when initially applying for coverage, you will be given a choice of where in the world you would like the policy to provide you with protection. While there are many different areas of coverage offered by the leading Thailand insurance providers, the stereotypical choice is between a plan that offers worldwide coverage, and one that offers worldwide coverage excluding the USA (or North America).
This is a vital choice for you to consider when you look to obtain an individual Thailand health insurance plan due to the fact that choosing to have worldwide coverage under your policy will mean that you will have a much higher overall plan premium than if you chose worldwide excluding the USA. The reason for the difference in premium pricing in this regard is down to the fact that the USA has the highest average medical costs in the world – receiving medical treatment in America is often extremely expensive.
Consequently, an international health insurance plan which covers the possibility of treatment in the USA will have to take into account the high costs associated with healthcare in the country, and will need to mitigate the risk of that treatment by levying a higher overall policy premium than a plan which does not offer the possibility of elective treatments Stateside.
Although, as briefly mentioned above, there may be more possibilities with reference to a policy’s area of coverage than just the two options outlined in the previous paragraph. Depending on the Insurance Company you choose to work with you may find yourself being offered a large range of options as to where you would like to receive protection (geographically) under your Thailand medical insurance coverage. In some cases you can choose to have protection only in Thailand, while in others you can expand that coverage to only include the Asia-Pacific region. As stated, there are a wide variety of options in this regard, and the area in which you receive protection under your Thailand health insurance plan will have an immediate impact on the total amount you can expect to pay for your policy.
Additionally, the coverage benefits you opt to include in your Thai medical plan will also have an impact on the premium; for example, a comprehensive policy providing coverage for a range of plan benefits will be more expensive than a plan which offers only simple in-patient health insurance protection. When applying for health insurance in Thailand you will normally be allowed to select from a range of different coverage options which you can choose to include in your plan.
Typical coverage options for a Thailand medical insurance plan include:
·In-patient health insurance
·Out-patient health insurance
·Dental health insurance
·Emergency Evacuation insurance coverage
·Alternative Therapy insurance coverage
·Preventative Healthcare and Vaccination coverage
·Pre-existing medical condition coverage
·Chronic condition health insurance
·Coverage for acts of war and terrorism
Not all possible coverage benefits will be suitable for all individuals. For instance, at age 67 it may not be suitable for you to obtain a Thailand medical insurance policy which provides a Maternity health insurance option. As such, it is important that you take the time to consider what types of protection you may need, not just now but also a few years down the road, and select the appropriate policy around that forecast. The benefits you choose to include in your Thailand health insurance plan will, as mentioned above, have a direct effect on the premium you can expect to pay.
However, this is not to say that there are not ways for you to lower your overall Thai medical insurance plan premium. A Deductible, or Excess, can be a great tool to lower the cost of your policy if you choose to include one on the plan. A deductible is the amount that you contribute towards the cost of your healthcare, with the insurer covering the rest; as you will be paying for at least some of the costs of your own medical treatment with a deductible in force on your Thailand medical insurance plan the result is that the premium may be lowered, and in some cases lowered significantly. For more information about a health insurance deductible, please click here.
At Pacific Prime our expert brokers will work with you to help ensure that your policy provides the exact levels of protection you require. In many cases, if there is not an existing expatriate Thailand health insurance plan which includes the coverage you are looking for it may actually be possible for us to tailor a policy to meet your unique coverage requirements. This is possible due to the fact that Pacific Prime works with more leading health insurance companies than any other intermediary in the Asia-Pacific region. With more than 60 leading international providers to choose from we can provide a range of choices and customization options available nowhere else.
Additionally, when you ask for a quotation from Pacific Prime we will provide you with a custom created snapshot of all the best possible plans from a range of providers which are matched to meet your individual needs. Our proprietary Medical Overview allows you to easily view the pros and cons which may be associated with each option, and enables you to start your search for coverage from the best possible standpoint with a thorough understand of what potential coverage options are available for you.
As a Broker of global health insurance plans Pacific Prime will work for your interests alone, and never those of an insurance company. This ensures that we are able to provide you with unbiased advice about the Thailand health insurance options you may be considering. The policies we work with are typically guaranteed renewable for life, globally portable, and will normally allow you to choose where you would like to receive your medical treatment; enabling you to receive healthcare services with any doctor or hospital within your plan’s geographical area of coverage.
For more information about Retiree health insurance in Thailand, or to learn more about the Thai health insurance options we currently work with you can Contact Us. Alternatively, you can request a free plan comparison by completing the short form at the top of this page.
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