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Anything can happen, but I don't have a major concern that nursing homes in Asia will become comparably priced as those in the US in my lifetime. Even the nursing homes in Western Europe (which is fairly developed) are cheaper than in the US.
My father spent a very brief period in a nursing home about 15 years ago at around 12k/month self pay on top of insurance. Western Europe is fairly developed.
I can understand the reluctance to have complexity in tax filings. But, you will not want to be self-filing at 99 from a nursing home. You engage professionals to do the filings, and Thailand will offer that due to expats living there.
What do you mean? All international insurance is self-insurance; I was talking solely about self insurance. It is mostly not possible to enroll in national insurance of a foreign country unless you worked and lived there before retirement, ie, paid contributions for a certain (high) number of years into the national insurance system.
I know that I won't be self-filling anything, but I will be thinking about it, so I still don't want complexity.
Probably not, but we stayed in Singapore when it was a poor country. We were there in February and could not believe how expensive it is now. In two generations 1.5 billion people in the Asian Pacific region have been lifted out of extreme poverty. Correspondingly, the middle classes are growing rapidly.
I would imagine the nursing homes in Western Europe, like those here in Australia, are highly subsidised by the governments. Which is why, speaking just of here, retirement visas are very difficult to obtain and very expensive.
An average cost of nursing home in Singapore is around $4k per month, and the maximum cost of total care is still around $7k per month (or $84k per year - still ok for me if the quality of life is comfortable, which it probably is). An average cost of nursing home in the US is around $12k per month (maximum rates are higher), and the quality of life is nonexistent.
My father spent a very brief period in a nursing home about 15 years ago at around 12k/month self pay on top of insurance. Western Europe is fairly developed.
My in-laws (the family of my bro's wife) own a nursing home in the UK. Prices are comparable to what I just mentioned for Singapore, ie, total care (such as highly disabling stroke or dementia care) costs around $7k per month. I suppose I could go there if worse comes to the worst, although I don't like much either my inlaws or the idea of ending my life in the UK :-).
Regarding Thailand, I am not concerned about the size of the tax, but the fact that I would have to file a tax return at all to start with. Thailand has been generally a country without problems for foreigners, but it is unfortunately also a country in which there is no hope of resolving a problem when it does arise. I can't accept to have in Thailand something that can become administratively tangled..
Could you explain how a retirement visa in Thailand works, please?
My brother in law has lived in Thailand for a couple decades. He has always had to leave the country after X number of months in order to renew his visa.
Could you explain how a retirement visa in Thailand works, please?
My brother in law has lived in Thailand for a couple decades. He has always had to leave the country after X number of months in order to renew his visa.
A retirement visa in Thailand does not require leaving the country for the annual extension. You still have to renew it once a year, but you can do it in Thailand. Their retirement visa is available to people older than 50 who satisfy some additional requirements (including minimum financial assets and the recently added requirement for health insurance).
I won't be chartering any jets, or needing medical staff to fly with me. Moving to a nursing home is not a medical emergency that requires an airlift. A youngster in my extended family would put me from the cab into a wheelchair, lift me from the wheelchair into a seat on the airplane, sit next to me on the airplane, and repeat the procedure in reverse on arrival to Bangkok. I would be very portable (106-108 lbs) even if completely paralyzed.
None of that is a concern. I only have administrative concerns about expatriation, ie, the degree of complexity of visa requirements and tax rules.
Good that you have family to assist. It is up to the airline to allow you on the flight. Your scenario does not take the patient into consideration.
Unless you have someone with you you are at the mercy of those around you. Seen it, do not want to see it again.
Private charter is actually an often overlooked and reasonable means of transportation especially for very small groups or those with special needs or unusual pets.
SO and I are in the process of our CNA certification. Not much but it gives a better understanding how to handle an invalid. He has extensive medical training. I do not.
What do you mean? All international insurance is self-insurance; I was talking solely about self insurance. It is mostly not possible to enroll in national insurance of a foreign country unless you worked and lived there before retirement, ie, paid contributions for a certain (high) number of years into the national insurance system.
I know that I won't be self-filling anything, but I will be thinking about it, so I still don't want complexity.
You write on a public forum asking people to comment, may be offer helpful advice. And, your response to anyone trying to do so is, well, deflating.
Case in Point #1 -
You wrote in the OP - "In addition to Thailand adding a cumbersome health insurance requirement during recent Covid years, ..." suggesting that health insurance in Thailand is a problem.
Then wrote - "Establishing residency earlier gives more options for expat health insurance (since most insurance companies do not offer new international insurance enrollment after a certain age),..." again suggesting obtaining the (qualifying) health insurance is might be a problem.
So, I tried to give you a link that in some cases (where advanced age might make obtaining Thai health insurance a problem), Thailand might allow self-insurance. So, trying to help. And, now you are educating me that "All international insurance is self-insurance" (which is complete nonsense).
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Case in Point #2 -
You also wrote in the OP - "I just found out that the tax reform in Thailand of Jan 1 this year includes taxation of foreign funds brought to Thailand. Since I would obviously have to pay the nursing home, I would obviously have to bring that payment into Thailand. I haven't studied their new tax law in any detail, so don't know exactly how the new taxation scheme will work, but the new changes are super disturbing ."
That suggested concerns about taxes in Thailand. I tried to point out that there is a foreign tax credit for up to $112,000 per year that might offset the taxes paid to Thailand.
Without acknowledging that, you shifted to how it isn't the tax you are worried about but cost of filing multiple taxes.
A retirement visa in Thailand does not require leaving the country for the annual extension. You still have to renew it once a year, but you can do it in Thailand. Their retirement visa is available to people older than 50 who satisfy some additional requirements (including minimum financial assets and the recently added requirement for health insurance).
And who will handle this once you are in a facility?
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