Transcript of the above video:

As the title of this video suggests, we are discussing what we have been discussing for a little while here now, "self-insurance" so-called. What are we talking about here? With respect to the O-A Retirement Visa and let me reiterate that, the O-A Retirement Visa, as opposed to the O Retirement Visa, the Visa holder can either obtain insurance or, and that insurance requirement is going up to $100,000 worth of coverage or 3 million Baht worth of coverage beginning in October of 2022, so we have a little time to deal with this, but they have also introduced the notion that it will be possible to "Self-insure" by putting the same amount of money in a bank account, just locking it into a Thai bank account. 

To follow up on this I am going to go ahead and quote from the Pattaya Mail, that is pattayamail.com, the article is titled: Self- Insurance for Retirees in Thailand moves a step forward. Quoting directly: "The Thai Embassy website in Norway is indicating that a self-insurance option is already available there for applicants for the O-A one year retiree Visa. It specifies that over 50 who cannot obtain comprehensive not just COVID related Medical cover of at least 100,000 US dollars (Three million Baht Plus) from either a Thai or a foreign Insurance Company, can instead place that sum in a foreign bank specifically to cover hospitalization. That sum is on top of the familiar 800,000 Thai bank deposit or regular income requirement." As we discussed in another video for those who aren't going to be able to obtain insurance but want an O-A visa after October it may be required that effectively 3.8 million baht or a little bit more actually be on hand in a Thai bank account in order to meet the requirements for that O-A Visa.

Now it is notable, and I urge folks to go and check out the Pattaya Mail, read this for yourself because there is a lot of information in there. As the article points out, this does appear to be something of a, I don't know, soft opening if you will the kind, kind of a test run of what these regulations are going to look like as other Embassies don't have this documentation up yet, this information up yet and it hasn't been brought online. We aren't dealing with this till the final quarter of 2022 so there is some time to be dealing with this. 

For those out there who are kind of concerned about what to do with respect to self-insurance there may be other options beyond the O-A. Those who do kind of feel like they need some assistance, it may not be a bad idea to contact a legal professional, gain some insight and guidance into how best to proceed.