What is the best health insurance for expats?
Discover Thailand’s top health insurance companies that offer comprehensive health coverage plans specifically tailored for expats.
What are the options of health insurance for expats in Thailand?
Expats have several different options when it comes to health insurance in Thailand. Below are some of the options you can consider:
- Private Insurance: Private insurance, also known as local insurance, provides coverage that is restricted in the following ways: the amount covered is relatively small in comparison to Western countries. Your age, meaning insurers will not accept you if you are 75 years old or older, and motorcycle accidents are not covered. One major advantage of getting private local insurance is that hospitals negotiate with local insurers on a daily basis. When you file for a claim, you simply show your card, and the hospital and insurance provider will take care of the rest.
- Private Offshore Insurance: Private offshore insurance is a common choice among expats in Thailand, especially for those who do not intend to stay in the country for a long period of time. They normally come with worldwide coverage except for some countries; you may also want to continue the same plan when relocating to a new country.
- Travel Insurance: Travel insurance is the way to go if you’re looking for a short-term plan that can last anywhere from a few weeks to a couple of years. Travel insurance is only available if you apply from your home country, not when in Thailand.
Short-term insurance coverage is less costly than long-term insurance coverage; however, bear in mind that because travel insurance providers do not have to deal with costly long-term care, they will usually only provide emergency healthcare coverage.
- Social Security: Social security will protect you by Social Security benefits if you work legally in Thailand. Your employer will deduct 5% of your gross salary for Social Security per month, but no more than 750 baht. Social Security will provide you with free medical care and prescription. Free treatment will also be provided by social security, but it comes at a cost in the form of long lines, limited drugs, and rushed doctor visits. You’re also limited to one hospital for a year.
- Group Insurance: Group health insurance can give you a discount on medical costs if you have a family member of three or more people when visiting Thailand.
Key Points
- Foreigners can select from a variety of insurance options that cover health benefits.
- Choose the health insurance that best suits your needs, as well as the amount of time you expect your policy coverage to last.
- Having health insurance will allow access to more medical treatment options.
How to identify your healthcare needs
Prior to purchasing health insurance, it’s important that you first find out how much healthcare you will be needing. Do you want to include inpatient or outpatient coverages? If you or a member of your family wants to see a doctor often, having outpatient services that cover treatment that does not include an overnight stay in the hospital can be perfect. However, if you only fall ill once in a while and don’t have any major medical conditions, you may want to consider a simpler package for inpatient-only coverage; this option will save you more money.
Do you have pre-existing conditions?
One thing to be mindful of is pre-existing conditions, as critical illnesses or any previous accidents that you had are not covered by health insurance. Life insurance with pre-existing conditions coverage, on the other hand, can be negotiated with a small number of insurers, and extra premiums and waiting times are normally added.
Do you have a preferred specialist?
You might want to include a specific doctor or expert in your policy as well. Because the doctor you see on a regular basis may or may not be included in a plan’s network of providers, this is an important point to discuss with the insurer or broker. You can still see doctors and specialists who aren’t in your insurance plan’s provider network, but your insurance will only cover a portion of the costs, if any at all.
What is your budget for health insurance?
Determine how much you are willing to spend on health insurance premiums. More comprehensive plans tend to be more expensive, so it’s essential to balance your healthcare needs with what you can afford. Assess whether the potential out-of-pocket costs for more affordable plans are manageable for your financial situation.
What to look out for when choosing health insurance for expats
Don’t fall for the cheapest insurance package while searching for insurance; instead, consider the following:
- Coverage limits: What are the coverage limits of the plan? What are the benefits’ limitations? Are they sufficient for your requirements?
- Area of coverage: Is your plan coverage valid in Thailand and other countries as well? This is important for those who often move or migrate to new countries.
- Guaranteed renewal: Are you going to terminate your plan if you have a chronic condition, file too many cases, or make too many claims?
- Exclusions: Is there anything you should be mindful of in terms of exclusions? Do you have a chronic illness or engage in non-covered activities?
- Company credentials: Deductibles and cost shares affect your out-of-pocket expenses. Your Certificate of Insurance will list selected deductibles. Cigna’s Customer Area provides easy access to these documents, ensuring clarity on this front.
The most expensive plan doesn’t always mean the best, but it’s better to pay a little more than to have a plan that doesn’t have enough coverage when you need it. Reading the terms and conditions, looking at consumer feedback, and speaking with a good broker can all help.
It’s better to pay a little more than having a plan that doesn’t have enough coverage when you need it.
How do expats apply for health insurance in Thailand?
In Thailand, applying for health insurance for expats follows a process similar to that in any other country. To begin the process, you must first receive a call from a representative of an insurance company. This initial contact is crucial as it sets the tone for the entire application.
During this call, the representative will:
- Explain the various insurance options available.
- Address any questions you might have.
- Ensure you understand coverage options, premiums, and the claims process.
Provide an opportunity for you to ask about specific coverage details, including any potential exclusions or limitations.
Following the initial call, each insurance company conducts its own survey:
- You will be asked questions about your health and any previous illnesses.
- This helps the insurance company assess your risk profile and determine appropriate policy terms and premiums.
- The survey often includes questions about your lifestyle, including habits like smoking or drinking, as these factors can impact your health and your family’s medical history to identify any hereditary conditions that could influence your coverage.
Once you have completed the survey and submitted all necessary information, the insurance company will review your application. The review process may take a few days to a few weeks, depending on the complexity of your health profile and the volume of applications the company is processing.
Upon successful review, the insurance company will extend an offer for coverage:
- You will receive details about the policy, including the coverage amount, premium costs, and any specific terms and conditions.
- It is essential to review this information thoroughly to ensure it meets your needs.
- After you have reviewed and accepted the offer, the next step is to sign the contract.
- Signing the contract is a formal agreement between you and the insurance company, confirming that you agree to the terms and conditions of the policy.
- Once the contract is signed, you will need to pay for the policy and payment methods vary, but most insurance companies accept bank transfers, credit cards, or direct debits.
After your payment is processed, you will receive a confirmation from the insurance company. This confirmation ensures that your policy is now active and you are officially covered. Finally, you can choose how to receive your policy documents as well as you may opt to have a physical copy mailed to your address, which is a good option if you prefer having a tangible document that you can easily reference.
Remember, applying for insurance is a significant step in protecting yourself and your loved ones and take the time to understand the process and ensure you have adequate coverage for your needs.
Plan ahead and get health insurance.
What Are the Top Health Insurance Companies in Thailand?
In Thailand, health insurance is not very common, particularly among Thais who are covered by the government’s Social Security system. However, a growing number of people, especially visitors and foreigners, are recognising the benefits of having private health insurance. Private health insurance is easier to use and offers much better benefits than the Social Security system. Health insurance is now becoming a requirement due to rising medical costs.
A list of the top health insurance companies in Thailand
- Cigna: Cigna is another leading health insurance provider that is popular among expats in Thailand. Known for its comprehensive coverage and flexible plans, Cigna offers a range of options catering to different needs and budgets. Their global reach ensures that policyholders can access healthcare services not only in Thailand but also in many other countries. Cigna’s plans often come with added benefits such as wellness programmes, telehealth services, and extensive customer support. They are particularly noted for their quick and hassle-free claim process, making it convenient for policyholders to get the care they need without unnecessary delays. Additionally, Cigna provides multilingual support, ensuring that customers can communicate their needs effectively, regardless of their native language. Click HERE to get a free quote from Cigna.
- Bupa: Bupa is a well-known brand for health insurance in Thailand. The majority of people prefer Bupa because they have a 24-hour English-speaking team who will look out for you. Bupa Thailand is different as they have a larger hospital network, benefiting the customer by allowing them to go to any hospital in Thailand and make a cashless transaction.
- AXA: Since AXA is a big multinational organisation, it’s no wonder that people choose to be covered by their health insurance. They offer a range of options to fit multiple budgets. AXA health plans are more costly than most insurance providers but they have more benefits. For example, unlike most insurance companies, they do not provide a waiting period for medical claims.
While the Social Security system covers many Thais, the increasing number of visitors and foreigners in Thailand are turning to private health insurance for better benefits and ease of use. Companies like Bupa, AXA, and Cigna offer a variety of options to meet the diverse needs of their clients. As medical costs rise, having health insurance is becoming indispensable.
Do local banks in Thailand offer health insurance for expats?
In addition to non-health insurance, which includes home, automobile, and travel insurance, all Thai banks offer a diverse range of health plans. Their short-term travel insurance plans come in handy for trips abroad to places where insurance is required, such as when applying for a Schengen visa. The benefits of having Thai health insurance through a Thai bank for expats include the fact that it is affordable, simple to sign up for, simple to make claims at the hospital, approved in many countries, does not always require an interview when applying, and some even have foreign coverage.