I suppose that many of us work on similar principles when shopping for a new Health Insurance policy. We look first at the premium, then look at the benefits. That’s if the Insurance company meets with our expected approval.

Is that wise?

The phrase “penny wise, pound foolish” generally refers to the act of being excessively careful or thrifty with small amounts of money while disregarding or being careless with larger amounts. When it comes to choosing medical insurance for expats in Thailand, it is important to consider this concept.

Thailand is known for its affordable healthcare system, but it is still crucial to have adequate medical insurance coverage as an expat. While it may be tempting to opt for the cheapest insurance plan available to save money in the short term, it can lead to significant financial difficulties if you face a serious medical issue or require extensive medical treatment.

Thailand beach


Here are 5 reasons why being “penny wise” in selecting medical insurance for expats in Thailand can be “pound foolish”:


  1. Limited Coverage: Cheap insurance plans may provide limited coverage, which can result in high out-of-pocket expenses. Inadequate coverage could leave you responsible for substantial medical bills, especially if you require hospitalization, surgery, or specialized treatments.


  1. Exclusions and Limitations: Some inexpensive insurance plans may have exclusions or limitations on coverage, such as pre-existing conditions, certain treatments, or high deductibles. This can significantly impact your ability to receive necessary medical care when you need it the most.

  1. Quality of Care: Less expensive insurance plans may have limited networks of hospitals and healthcare providers, meaning you may not have access to high-quality medical facilities or specialists. This could affect the standard of care you receive and potentially delay important treatments or diagnoses.






  1. Emergency Evacuation and Repatriation: In the event of a medical emergency, having insurance that covers emergency evacuation or repatriation to your home country can be crucial. Cheaper plans may not provide this coverage, leaving you vulnerable and potentially incurring substantial costs.


  1. Financial Security: Ultimately, medical insurance is about providing financial security and peace of mind. By opting for a cheaper plan that doesn’t offer comprehensive coverage, you risk facing significant financial burdens in the future if you encounter a major medical issue or emergency.


When choosing medical insurance for expats in Thailand, it is advisable to carefully review the coverage options, consider your specific healthcare needs, and compare the terms and conditions of different insurance plans. It’s important to strike a balance between affordability and comprehensive coverage to ensure that you are adequately protected in the long run. Consulting with insurance professionals or brokers who specialize in expat insurance can also be beneficial in making an informed decision.







To help you in this journey of acquiring a new Insurance policy or you need some guidance, click here and we will assist you.