News Forum - Killing off retirement opportunities in Thailand – OPINION

[King Cotton]

19 minutes ago, Toby said:

Stayed here for 4 years now each month contributing with 60 K+ baht and each year the visa will be more and more difficult to obtain….

Yes, tell me about it, @Toby, but sadly only too relevant for many expats. Your debut post too, so welcome to the forum.

[LoongFred]

6 minutes ago, King Cotton said:

Yes, tell me about it, @Toby, but sadly only too relevant for many expats. Your debut post too, so welcome to the forum.

Could you live on 60k baht at home?

[Dani]

I agree… the Thai government seems to react to a few expats who run up hospital bills and then leave the country. It’s typical of some I experienced organizers to overreact to a small demographic. 
instead of reacting to the minority… the majority of us who do pay our bills (including vat) should not be punished for those irritating expats who would stiff their own grandmother. 

[Wilido]

The powers that be in Thailand are delusional about how much and how money comes into Thailand.. Quoting 20% of GDP being from tourism…

more like 80% and they’re now realising that!!!

yes they see 20% coming through large conglomerate hotel chains..

But any realistic person knows how Thailand’s money comes… 

Through the girls the bars the street vendors, all the beautiful people of Thailand that now seem to be forsaken  , for big profits for the already rich.

[Poolie]

8 minutes ago, Dani said:

I agree… the Thai government seems to react to a few expats who run up hospital bills and then leave the country. It’s typical of some I experienced organizers to overreact to a small demographic. 
instead of reacting to the minority… the majority of us who do pay our bills (including vat) should not be punished for those irritating expats who would stiff their own grandmother. 

It was quoted as being over 1000 when the news broke. Few more than a few!!

[LoongFred]

9 minutes ago, Dani said:

I agree… the Thai government seems to react to a few expats who run up hospital bills and then leave the country. It’s typical of some I experienced organizers to overreact to a small demographic. 
instead of reacting to the minority… the majority of us who do pay our bills (including vat) should not be punished for those irritating expats who would stiff their own grandmother. 

I can remember that those staffing their medical bill were primarily tourist in tourist areas. Motor bike accidents were number one. It was also specific for certain countries, probably those with socialized medicine. Private hospital were also too blame with excessive charges. 

When someone enters the hospital they usually ask for your passport and how you'll pay. But, if your brought in as an emergency they are obliged to treat and might not be able to ask. The 300 now 500 baht fee and arrival was supposed to cover this. 

Many of us could return home for care and many do. Insurance is ok but I don't like being branded as someone who doesn't pay their bills.

[ThailandBob]

6 minutes ago, LoongFred said:

Many of us could return home for care and many do. Insurance is ok but I don't like being branded as someone who doesn't pay their bills.

Right. Someone who builds a couple of houses (and I'm talking about on-site management without speaking the language) for their wife's family isn't exactly a "backpacker." I've personally injected close to 15m THB into the economy in < 9 months. And I can pay my own medical bills, as I just did with a rotator cuff repair. And yes, caused by a motorbike accident while coming back from my IO.

Edited November 1, 2021 by ThailandBob

[TukTuk]

Expats are highly misinformed if they believe their annual contributions make a difference. <1%

If it were a sizable amount, the government would be doing something to get their hands on it.

 

[guzzi]

3 hours ago, Thaiger said:

OPINION Quite clearly the Government has simply not thought through the impact of the insurance provisions imposed by the Thailand Pass on “budget tourists” and likewise on current and prospective retirees in Thailand. The sobering reality is that it is well nigh impossible for individuals, 70 years and above, to obtain health insurance other than at exorbitant rates. The insurance requirements, USD 50k (1.6m THB), while rational on the surface, will undoubtedly block the backpacker/budget tourist cohort and simultaneously devastate those long-term elderly Non-Resident Visa holding retirees, many of whom live on fixed pensions and have been attracted to remain […]

The story Killing off retirement opportunities in Thailand – OPINION as seen on Thaiger News.

Read the full story

i'm 62, i was hoping to retire to Thailand next year i have been looking at health insurance and it does seem to take a large chunk of your monthly spending as regards to health insurance over 70 if its the case its stupid money i don't know if I'm going to bother maybe look at somewhere cheaper to live can anybody advise on the cheapest and reasonable insurance company and what realistically you will have to pay?

Regards

Mike

[TukTuk]

8 minutes ago, ThailandBob said:

Right. Someone who builds a couple of houses (and I'm talking about on-site management without speaking the language) for their wife's family isn't exactly a "backpacker." I've personally injected close to 15m THB into the economy in < 9 months. And I can pay my own medical bills, as I just did with a rotator cuff repair. And yes, caused by a motorbike accident while coming back from my IO.

You are thinking like a foreigner.

Just because you claim to spend money, it doesn't amount to a needle in a haystack in the big picture.

GDP in Thailand is expected to reach 546.00 USD Billion by the end of 2021 (https://tradingeconomics.com/thailand/gdp)

[TukTuk]

47 minutes ago, LoongFred said:

Could you live on 60k baht at home?

House is paid for, cars are paid for, I could live on $2000 a month in the USA

[TukTuk]

2 hours ago, Cabra said:

OPINION: Thailand is not interested in being a destination retirement community of 70+ year old foreigners (just look at how its ruined places like Florida, USA). That's evident in everything the Thai  government does. Firstly, retirees don't spend money like the "two week millionaires" who (pre-covid) prowl the go-go bars. And secondly, the perception of westerners of advanced age being a burden on the healthcare system (albeit true or false) - when compared to elderly Thais - makes any chance of this ever changing very remote. You might want to look at Vietnam or PI as alternatives. While there is still value for money in THA, this is decreasing every year. Maybe a THA marriage Visa is the way to go (no insurance requirements) - however, that avenue is frought with a whole series of other risk... Chokdee

You must not know anything about Florida.

The housing boom is at an all time high.

Retirement communities are booming and more being built everywhere

Our Florida house appreciated US $175,000 in the past 2 years alone.

The retirees are the main ones fueling the housing increase

[TukTuk]

2 hours ago, ThailandBob said:

If not mistaken, this targets a small group of maybe 2500 retirees a year who, prior to this new law, calculated that it was affordable to retire here.

And, as the OP alluded, most of us invest far more in the upkeep of a large extended family. I'm always helping various cousins/kids/siblings of my in laws. It's what is expected of farang husbands.

When I pull out of Thailand and take my Thai wife with me, unfortunately a lot of that assistance will be redirected to family in my home country. 

Good post!

Well we pulled out of Thailand and still support an extended family.

 

[ThailandBob]

3 minutes ago, TukTuk said:

You are thinking like a foreigner.

Just because you claim to spend money, it doesn't amount to a needle in a haystack in the big picture.

GDP in Thailand is expected to reach 546.00 USD Billion by the end of 2021 (https://tradingeconomics.com/thailand/gdp)

Which is what I am. This isn't about how my infusion into the economy makes the Thai economy go 'round; it simply argues that some of us aren't exactly backpackers; we are here to as part of our spouses' family and are contributing our share and aren't the same ilk as those who skip out on hospital bills.

[TukTuk]

8 minutes ago, ThailandBob said:

Which is what I am. This isn't about how my infusion into the economy makes the Thai economy go 'round; it simply argues that some of us aren't exactly backpackers; we are here to as part of our spouses' family and are contributing our share and aren't the same ilk as those who skip out on hospital bills.

But you cannot even remotely think the government would sort out the contributors from the skint?

Foreigners are all lumped into 1 bucket.

The sad thing is the government will never think otherwise.

I think the chances of it getting worse are much higher than it getting better.

Who, all of a sudden, came up with the new insurance scheme?

If you dig deep, I bet those insurance companies are owned by politicians.

You simply cannot win or gain, with that kind of corruption going on.

[DiJoDavO]

2 hours ago, Lewis said:

This opinion is one sided.  Thailand will never develop in right direction if it keep attracting only backpackers, cheap Charlie’s and modest retirees having nostalgia of the good old times.. Let’s face it: to avoid the inevitable nature destruction by mass and cheap tourism, to afford a modern and sustainable infrastructure including hospitals c/w state of the art medical equipment they need to raise the bar. It has to cost more. Thailand is reaching a point where they will have to rebuild an education system to produce more skilled workers, technicians, health care workers and engineers. Stop looking at this country like a heaven for retirees or backpackers. 

I'm not sure about the numbers. But with the amount of tourists that you call cheap Charlies that came a few years back, and maybe in the future again, aren't we underestimating the amount of money they bring in? Maybe per person not as much as rich people, but look how many of these people there were. 

+ the money that they spend, most likely goes to local people instead of the big brands. 

[Stonker]

1 hour ago, King Cotton said:

Hi, @Stevejm!  Whilst the above info may be accurate, a source link would have been more than welcome.

I've given dozens!

..... and as I've also said repeatedly, it's also 150% of NHS cost price for Brits who aren't "ordinarily resident" in England and Wales - only 100% in Scotland and NI.

I know it didn't used to be the case () but there was a sea change in 2015, confirmed even more in 2020.

The NHS isn't run by smiling dears in a twin set and sensible shoes any more, but by professional bean counters.

[AussieBob]

The post is very accurate and a true reflection of the ever increasing bad news for Expats since the Junta took over.  Many Expats who are currently living in Thailand on a marriage visa and supporting a Thai family, came over as a Retiree.  Those Expats will not come in the future - not just because of the insurance, but because of the Junta.   Remember when PM Prayut said: "Good Guys In, Bad Guys Out" ?   What has happened since then has clearly shown that the translation from Thai to English was wrong.  The correct saying has been shown to be : "Expats Out, Rich Tourists In". 

As my Thai wife says, whenever the Military take over in Thailand, things go bad for the average poor Thai person, and go very good for the wealthy ones.  I am somewhat reluctant to even visit Thailand over the next few years, because that actually supports the Junta.  The less people that visit Thailand in 2022/23, the better off the average Thai person will be when the Junta is thrown out in the 2023 elections. 

[ThailandBob]

22 minutes ago, TukTuk said:

Foreigners are all lumped into 1 bucket.

Yes. And I don't expect them to differentiate based on whatever criteria. I have a right to be ticked off that this is a raw deal. Again, I would be happy to put up an escrow equal to the max coverage, but that option was taken off the table as this rule was finalized.

[poohy]

1 hour ago, LoongFred said:

Could you retire at home on 60k baht/ month? 

Many people on pensions today in uk have to !!

[riclag]

4 hours ago, Thaiger said:

OPINION Quite clearly the Government has simply not thought through the impact of the insurance provisions imposed by the Thailand Pass on “budget tourists” and likewise on current and prospective retirees in Thailand. The sobering reality is that it is well nigh impossible for individuals, 70 years and above, to obtain health insurance other than at exorbitant rates. The insurance requirements, USD 50k (1.6m THB), while rational on the surface, will undoubtedly block the backpacker/budget tourist cohort and simultaneously devastate those long-term elderly Non-Resident Visa holding retirees, many of whom live on fixed pensions and have been attracted to remain […]

The story Killing off retirement opportunities in Thailand – OPINION as seen on Thaiger News.

Read the full story

Brilliant ! Restrictions and being financially raped  while being taken advantage of  ! Many have made their bed in Thailand and now will have to sleep in it because they bought the farm!

[riclag]

4 hours ago, Nipral said:

Dont expect military to be smart, or even mildly intelligent !

On the contrary ! The authorities purposely  designed and tweaked these new revenue streams ! From a money making perspective these thugs are brilliant!

Edited November 1, 2021 by riclag

[riclag]

4 hours ago, yetanother said:

"For the good of the country I urge the bureaucrats to think, and then to think again,"

that is going to be one long road to travel;

1) those leaders could not possibly care less about the good of the country

2) they really are an unthinking bunch, reporting to their masters and dutifully carrying out their orders is their lot, such goes a long way for having the military in charge;

the state-of-affairs is brilliant from their angle , no real opposition that is worrisome;

keep that pesky 'democracy' and reporters,activists and the press subverted , mind you (we'll deal with scholars in due time);

Spot on analogies 

[Bangkok_Gary]

I'm a Canadian age 72. I used to spend winters in Thailand. I used a multiple entry tourist visa which allows for multiple back-to-back stays of 60 days each. I did a border run every two months. I enjoyed spending the winter in Thailand. I spent $3000 a month there over the winter. If they aren't interested in that kind of contribution to their economy then the hell with it. I will find another wintering ground. There are lots of possibilities in the Western Hemisphere. In the Caribbean and in Central and South America. Costa Rica for example. Fully vaccinated tourists can enter Costa Rica for a period of 90 days without any quarantine or insurance and no tests either. After 90 days go to Panama and re-enter to get another 90 days. No hassle. The women are beautiful. The language is much easier to learn than Thai. It's warm. There are nice beaches. Etc... I will just have to change my pen name to Tico_Gary.

Edited November 1, 2021 by Bangkok_Gary

[NCC1701A]

i'm not smart. help me understand.

i have been here almost eight years. i'm retired and nobody ask me for insurance. 

why is that? this story scare me.