Choosing medical insurance in Thailand can lead you into a confusingly complex maze. Plans are not what they seem and your search for personalised cover can lead nowhere. Before you know it, you don’t know which insurance path to follow and are in danger of not finding the best health plan for you.
To stay on track be prepared before you set off on the health insurance decision-making process. Whether you are an expat living in Bangkok or a native Thai looking for extra cover, our 10 essential questions point you in the right direction.
1. Does the agent know the market? With online platforms, agents can compete on a level playing field, but you need one with a wide understanding of the available plans.
2. Is the plan locally compliant and onshore? Health insurance underwritten in Thailand is compliant with the country’s regulations and laws. An onshore company provides a local service too which is particularly helpful if you come to using the benefits.
3. Are you considering using a deductible? You can lower premiums by paying a set amount or percentage of expenses before insurance payments are activated. Assess what these amounts could add up to.
4. Are you covered if you leave Thailand on holiday? Planning to explore Southeast Asia or travel further afield in the foreseeable future? You need medical insurance in Thailand that will cover you beyond the borders of Thailand. Understand the geographical coverage of your plan and get extra cover in place if needed.
5. Where do you stand with pre-existing conditions? Each health problem will be covered, or not as the case may be, to different extents by different insurers. Knowing how a policy will impact expenses for medical care for such issues is important.
6. Have you studied the benefits tables? What plus points are covered by a medical policy? You might want to consider outpatient cover, wellness benefits, personal accident add on, as well as surgical, emergency, and any therapeutic treatment.
7. How are renewal premiums calculated? Your age, past insurance claims, and even your Body Mass Index, can all affect your premiums year-on-year. Be aware of what these influencing factors are and what impact they have. Will your renewal be assessed on the basis of your personal yearly claims history or will it be based on the performance of all policy holders in the pool?
8. Have you declared your medical history fully at the outset? Incomplete information regarding any ongoing health issues can render insurance claims void and leave you with costly medical bills. Being economical with the truth can cost dearly.
9. Are policy limits high enough? Knowing what you are covered for is not enough. You also need to know to what extent. What is the maximum payout for any one claim or for all claims during the policy lifetime? Faced with a serious medical need, is the cut-off amount adequate?
10. Do you understand any policy exclusions? Finding out what treatments you are not covered for is vital. This may concern outpatient care or pertain to medical issues, such as maternity cover, psychiatric care, and reconstructive surgery. The policy wording document may include a variety of restrictions too.
Finding out solid policy details for health insurance in Thailand helps you discover the right plan for you, right now.