@Rich ***
That is correct which is why I recommended the O. When I got my OA in 2017 there was no insurance requirement.
Some other differences:
OA is a 1 year multiple entry visa vs the O being a 90 day single entry
Each time you enter the country with an OA during the first year of validity you get a yearlong permission to stay stamp. I got 19 months on my OA before I started applying for 1 year extensions inside Thailand.
You can qualify for an OA with money in your home country bank account though you must deposit the 800,000 baht into a Thai bank account for your 1 year extension inside Thailand.
You have to get a criminal background check in your home country to get an OA. There is also a medical certificate to be signed by a doctor.
It is possible to get an O visa from your home country Thai consulate as well as being able to get it here inside Thailand.