Transcript of the above video:

As the title of this video suggests, we are discussing Visa Policy on insurance and we are discussing this in two contexts really. One is the general retiree insurance, for those who are unaware, we have a number of videos on this channel, but those who want to retire in Thailand there is an insurance requirement for an O-A Visa which requires that one have an insurance policy which provides for 400,000 Baht inpatient and 40,000 Baht outpatient coverage here in Thailand. More recently, this COVID-19 insurance which came about as a result basically back under the Emergency Decree in March 2020 and we are still dealing with it but it now appears that those on an O-A Visa are going to be required to maintain COVID-19 Insurance at least into the foreseeable future.

A question that has come up a lot, in fact people have talked to me in person my personal opinion have said: "I just think the whole thing is just designed to squeeze money out of us!" I actually had someone say exactly that. I don't mean to laugh, it is a serious matter. My personal opinion is I don't believe that but I can understand why people think that. First let's get to something I saw on the internet which tracks to those notions. A recent article from the Pattaya Mail, that is pattayamail.com, the article is titled: Thai Expats Desperately Searching for COVID-19 Insurance with Mixed Results. Quoting directly: "The street wise know full well that insurance brokers can arrange policies for the advanced elderly but there will certainly be heavy exclusion clauses demanded by the company for obvious reasons. It would be tragic if any new Immigration rules were designed simply to raise revenue for Insurance Companies and had no relevance to the health of the expat population." 

So yes it would be tragic and I don't actually believe that is what is going on. I have seen a lot out there where people have said "oh they have done this in order to create an industry in the form of these insurance policies for retirees etc." I don't really believe that that is what they are doing. My personal opinion is, going back to October 2019, I think they were trying to deal with the issue where they really did and they showed the data on this, they had people that were using hospital services and not paying for it. A lot of people think it was people skipping on their bill. I happen to think it was probably more likely folks who were passing away and then the hospital was stuck with the fees, with the bill associated for that person's care. Thai hospitals don't turn people away. This is a Buddhist country, they take life very seriously and that is a great thing. I am very proud of that philosophy and that paradigm but there was an issue with that. So the original insurance policy I think was created in a good faith effort to deal with a problem as the Government saw it at that time.

The Covid-19 Insurance Policy I think is much the same. I have my questions on whether or not it is a good idea especially where you are trying to attract retirees and expats to come to Thailand, I have my question whether it is a good idea to require this ongoing COVID-19 policy. As noted in other videos though, it only pertains to the O-A retirees, at least presently. O retirees, folks on an O visa for retirement purposes don't need to maintain that insurance requirement, don't need to deal with that kind of insurance. 

So again it is going to depend on your circumstances but do I honestly believe this was designed to generate income for a bunch of Insurance Companies? No, because frankly I don't think the Government really cares very much about creating a big profit center for a bunch of private Insurance Companies.