Health Insurance

[hadi8253]

In 2001 (58 years old) I chose Bupa Thailand as my health insurance. The benefit plan (Ruby), the guaranty of “life time” if I pay yearly my premium, the yearly amount for my premium, all this seemed to be OK.

It worsened in 2006 (63y). The premium raised yearly, in 2009 when I became 66 by almost 20 % also I did not make any claim. During the last 6 years the premium has almost doubled!
According to Bupa “medical inflation” and/or “age band” is responsible for the increase. My repeated question how much I will have to pay next year, when I will become 70 has after 9 (nine !) emails not yet been answered.

And it became really bad: My wife also insured by Bupa since 2001, never made a claim had a premium raise at 37,25 % when her age changed from 55 to 56 years.

The promise of “renewal is guaranteed for life” is easy done by Bupa. Bupa will raise the premium every year without any warning until you will be happy to leave this company …

[joseph44]

That's the case will most, if not all, insurance-providers.
At this moment (51 yo) I pay USD 1182 per year, but by the time I'll be 65 I'll pay USD 2850 and that is not included the yearly increases.
(Aprile Mobilite - France)

[Mweiga]

It's a trade off between risking a budget insurance company with lower premiums that may sooner or later become one of the several blacklisted by hospitals in Thailand or even go bust , and one of the large well-established universally accepted companies with high premiums.

Have had a BUPA International policy for the past 20 years on which have never made a claim but which now has skyrocketing annual premiums. Checked out BUPA's cred with the major hospitals and no problem for acceptability , so will bite the bullet and stick with them.

An American friend was laid up for a week in Pattaya's Bangkok International Hospital last year after a motorbike accident with a six figure bill and a policy from a US insurance company they advised him was blacklisted with them whilst he was recuperating and with the bill climbing daily. You pays yer money and takes yer choice.

[hadi8253]

You mean it's time to die early enough

[joseph44]

Originally Posted by hadi8253

You mean it's time to die early enough

Time to do a sky-diving course from one of Pattaya's high rises?

No, it's just time to face the consequences of getting older. One of the consequences is an increasing health-insurance-premium.

[hadi8253]

Originally Posted by joseph44

Time to do a sky-diving course from one of Pattaya's high rises?

No, it's just time to face the consequences of getting older. One of the consequences is an increasing health-insurance-premium.

Yes - I know it and I do agree. But I have difficulties to understand: in the same year, same benefit plan, same insurance company, my premium rose by 5,86% (68y to 69y old) my wife's premium rose by 37,25% (55y to 56y old) no claims made since 6 years. And after 9 emails it should be possible, to answer my question how much we have to pay next year if we do not make a claim. Bupa treated me as a fool and I wrote them I will have to go public - that's it.

[mikecwm]

Self insuring.
As someone who plans on living into my 90s I have given serious thought to the prospect of ever increasing health insurance premiums and decided that I would rather put the annual premiums safely away (after first seeding the fund with 1,000,000B) in a savings account.
I fully expect that if I did take out insurance by the time I get into my 80s, the annual premiums would be astronomical - never mind in my 90s!
Eventually I would have to stop paying and be left with no coverage and no medical fund safely stashed away.
I believe that now, at 65, is the time to make the crucial decision and start building up that self insurance fund.
The more I hear about Health Insurance companies - the less I am inclined to give them millions of Baht.

[JWilliamson]

I know many friends in Hong Kong who are working in various insurance companies and from what they have been telling me is that it is a good idea to go through an insurance broker. A broker can walk you through various insurance plans and find one that will serve what you need. Pacific prime or Globalsurance are just two that can provide international insurance.

[hadi8253]

Originally Posted by mikecwm

Self insuring.
As someone who plans on living into my 90s I have given serious thought to the prospect of ever increasing health insurance premiums and decided that I would rather put the annual premiums safely away (after first seeding the fund with 1,000,000B) in a savings account.
I fully expect that if I did take out insurance by the time I get into my 80s, the annual premiums would be astronomical - never mind in my 90s!
Eventually I would have to stop paying and be left with no coverage and no medical fund safely stashed away.
I believe that now, at 65, is the time to make the crucial decision and start building up that self insurance fund.
The more I hear about Health Insurance companies - the less I am inclined to give them millions of Baht.

When I started with Bupa as my health insurance I was 57y. Today 69y - I have to agree - it was a mistake. If I could start over, I would do the same!
hadi8253

[SteveMcCrady]

Originally Posted by JWilliamson

I know many friends in Hong Kong who are working in various insurance companies and from what they have been telling me is that it is a good idea to go through an insurance broker. A broker can walk you through various insurance plans and find one that will serve what you need. Pacific prime or Globalsurance are just two that can provide international insurance.

Pacific Prime and Globalsurance are one in the same.