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Private health Insurance Vs Self Insuring – I’m worried

Korat Simian · 5 · 532

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Offline Korat Simian

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My private health insurance company ( Cigna ) has contacted me to say that my yearly health insurance policy will shortly be up for renewal and that my new yearly insurance premium amount will be increasing .

The Cigna private health insurance policy covers only my self ( 73 Years old ) for inpatient hospital treatment only to the yearly value of 13 million Baht - I have had this same Cigna private health insurance policy for around 8 years and have never made a claim - I am in overall good health and have no current health concerns or worries - I am by no means a wealthy man but do have some savings ( less than 5 Million Baht ) in a Thai bank along with receiving my monthly UK government old age pension – Over the past previous years paying for my Cigna private health insurance monthly premiums were never a real problem but now with the overall rising cost of many things here in Thailand I’m getting concerned that meeting the new Cigna monthly payments may start to become a real struggle. The Cigna private health insurance monthly premium is ….

Currently £ 284.20 = 12,362 ฿
As from the 1st of November = £ 321.08 = 13,279 ฿

So the thought thats now racing through mind is about ditching my current Cigna private health insurance policy in favor of taking a risk and going down the self insure route where I would personally fund any required inpatient hospital medical treatment myself from my bank savings savings account – I have spoken to a Cigna representative about my concerns but sadly they can offer me no other policy options or monthly premium amount reductions and at my age I think finding another private health insurance provider is just not going to happen. Due to my past personal mistakes opting to return back to the UK for medical treatment is not on the cards.

I suppose if my self funding any medical hospital inpatient treatment idea is to risky one other possible alternative would be some sort of strict home economizing and doing away with many little luxuries and pleasures that both my self and wife have come to enjoy over the past years . Putting a strict draconian home economizing plan into operation would then hopefully reduce our overall spending pattern leaving enough money to enable the new Cigna monthly payment to be paid .
 



Any thoughts on the above would be very welcome. 🙏




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Online Pompui

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Offline Korat Simian

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Have you tried other insurance companies?


Thank for getting back 🙏

I have checked out several other private health insurance providers using the following web link below  ( use a made up email address )

https://misterprakan.com/en/health/health-insurance-thailand

and the majority of provided information seem to be in the same price range

One other option I forgot about with my current Cigna private health insurance policy would be to increase the current deductible amount which is now set at £ 1,000.00



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Online rdrokit

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You might trying lowering the yearly cap from 13 million baht. Open heart surgery runs around 5 million baht so a cap around this would be a way to lower your premium. My wife had a hysterectomy locally and the bill was 70,000 baht.

I have been dealing with AA Insurance Brokers since 2007 for all my insurance needs. They have an office in Pattaya and Hua HIn but everything can be done by phone and email. You might try calling them and see if there is a plan you might like. They speak English and a consultation is free.

https://www.aainsure.net/?gclid=CjwKCAjwg5uZBhATEiwAhhRLHjrURsLadNCW4thBhF46s2uc2BTEu5H8Mb84ZXqrEvx6BGl_4we5XRoClKcQAvD_BwE


Offline Korat Simian

  • Junior Member
    • Posts: 46
You might trying lowering the yearly cap from 13 million baht. Open heart surgery runs around 5 million baht so a cap around this would be a way to lower your premium. My wife had a hysterectomy locally and the bill was 70,000 baht.

I have been dealing with AA Insurance Brokers since 2007 for all my insurance needs. They have an office in Pattaya and Hua HIn but everything can be done by phone and email. You might try calling them and see if there is a plan you might like. They speak English and a consultation is free.

https://www.aainsure.net/?gclid=CjwKCAjwg5uZBhATEiwAhhRLHjrURsLadNCW4thBhF46s2uc2BTEu5H8Mb84ZXqrEvx6BGl_4we5XRoClKcQAvD_BwE


Thanks very much , I'm going to check them out 🙏





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