Obviously it is pro rated daily and calculated monthly 🤦‍♀️

yalor, that's y i dun understand why talking about which day in the month to enter.

yalor, that's y i dun understand why talking about which day in the month to enter.

        this is shocking. this is not prorated anymore.

I think you need to learn and read the word called DAILY AGGREGATE BALANCE 🤦‍♀️

Obviously it is pro rated daily and calculated monthly 🤦‍♀️

Eg Feb 2023 contribution -

EPF received RM60k from A on 1.2.2023, A only can get 1 day interest for Feb.

EPF received RM60k  from B on 28.2.23 -  B also get 1 day interest same

This is not called interest  prorated daily
Prorated daily means A should get 28days interest
and B get only 1 day interest for Feb.

Comes to a point. Nobody is interested in someone else opinion. But, just wanting to hear his/her opinion come out from someone else mouth.

Profound statement, yes? Watch the blood pressure, ya....inspiration hits when sitting on the porcelain pot.

Ring! Ring! Ring! Hello, Unker looking for
Senior Nexona
Bro Magika
Bro Guy3288

Sincerely request your participation in the EPF Dividend contest. No prize for correct guess, just friendly fun.

100k or 60k.. not much effect unless ppl age 48 or 49 i guess...
Hmm.. actually the news about kwsp average for certain ppl only 5.5k is very worrying. Plus the two previous menteri.. suddenly feel kwsp very risky. What if suddenly tiered dividend for certain ppl.. or lower balance ppl.. what if suddenly "they" wanna dip fingers into the money... You know... Coz majority of certain ppl only have 5.5k balance in it... Hmmm... Scary suddenly..

Unker bored waiting for results...so pls report n block me (for my own good 😀) until then...

When there is $0 Mil.
I needed One  for counting.

When there is $1 Mil.
I needed Two for companionship.

When there is $2 Mil.
I needed Three for trinity in unity.

When there is $3 Mil.
I needed Four for watching seasons in the sun.

Money can avoid a lot of unhappiness tho..

If no money, I might be in the video of EPF withdrawal protestors ..

don't know about others, but I sure will have headache and complain if I have too much money.... imagine having a few billion dollars... now that brings in a whole lot of headache and problems on its own.

humans will always complain.... too much or too little do not matter.

There is an ugly side to this insurance thing. Most people see it as a safety net in times of medical need. Yes, it can be and should be. But it can also be a net full of piranhas. They are there mainly to make money. On claiming, lots of conditions and requirements surfaced that you are not aware of. So, cannot claim.

One thing I still struggle to understand, an operation will cost X if one pays out of pocket but X+Y if one uses the insurance! It is OK as it is the insurance company paying the extra? No, they pay extra and they jack up your monthly premiums. We all suffer.

The insurance industry needs a major overhaul and cleanup.

Same analogy with kwsp, education, medical insurance savings, ....if we are disciplined/endowed n has big multiples of X savings, then ok.

Many people dont even save enuf for X. (No need think about Y).

Im just in the camp who feel in this current society, medical insurance is a necessary evil. Unker put 2 screws on my L3, L4 + physio oledi $75k. Yet many go thru life without a scratch.

Back to kwsp, asnb, fd, etc...grow the $$$....with great wealth, comes more choices n options. Multimillionaires can still choose to go hospital Kerajaan for major Ops, mah...no need buy medical insurance. Just go queue, A&E admission unless life n death can take 15+ hours.

Lastly, just be mindful God decides.

Medical insurance with private hospitals is a scam.
Paying cash vs Medical claim could mean double in the pricing!
Scam!

Just as with everything in thiw world, theres exceptions to general statements.

Unker actually delayed operations for 7 years. Auntie has always insisted for 2nd opinion in Singapore clinics. My highest respect to Dr Yip back then. " if you can still manage your daily task, dont operate".

Price almost similar with exchange. Mahfan is post ops recovery....dm me if suffering perforated disc, etc need some patient experience n opinion....or even a listening ear. Outsiders dont understand the level of pain.

Frankly, if not really life and death situation. JANGAN POTONG. After major potong, your body might change and can have long term effect.

Is cheating.
An experience:
My friend had a surgery on his gall bladder.
Claim to insurance came to approx Rm30k.
Payment by card cost around Rm10k.

Now tell me, is that a scam or not?

It is a scam.  Suddenly insurance say hit limit for claim. So they no longer can use insurance claim. Within 30 minutes from the phone call they dump him in the ambulance send to gov hospital. And the doctor said why no treatment at all? Infected all over the body and seems like it's a lot worse than before masuk hospital. Gov treat. Around 3 weeks discharge can go home. Said if delay longer confirm KO coz they are not treating, just dumping liquid parafin and bandage like mummy and the body became breading ground for bacteria infection. Lucky insurance run out or else confirm they keep him until grave. But here comes the second question, why insurance suddenly say hit limit when he bought the premium type that covers "everything" for as long as needed? Weird hor...

Second story. Relatives story but happened almost 10 years or so ago. Bought a policy that specifically says cover "female cancer". Paid more than 5 years. Suddenly felt lump go check coz "can cover". T

Unker personally very too lian private hospital,....when kid small admitted, they sure find every excuse to do 'grape juice' IV on kid....just to earn the fxxxing $30+/bag. I forgot exact $, ..
Soli.

This is why the separation of power is important. Let doctor diagnose and prescribe and the insurance just pay within x time and make it a law. That way insurance will not determine the action of how the doctor do or prescribe. Insurance is an gurantee that the person insured is taken care of as that is the point of insurance. Now medical insurance is not a medical insurance and more like a scam. Then doctors diagnose and prescribe only and let the pharmacist dispense medicine as check and balance so doctors don't do whatever he wishes. This gives back confidence in doctors which right now is not very high coz the powers too much and high and there is no audit on the action of the doctors. Yes some are good but this gives opportunity to the doctors to abuse power. Let the professional and capacity of the doctor decide the flow of customers. This ensues the doctor only do the best for patients and not treat them as cash cows. Let the professionalism and capability of the doctor decide thier income. Pharmacist is the counter check and dispense medicine and let price and professionalism of the pharmacist decide thier business. This ensues nothing can be abused, mistakes can be avoided and since patients can approach pharmacist easier, they can help to detect compliance and other issues face by the patients and report back to doctor. Patients can also report to doctor on follow up if some pharmacist are dodgy hence maintain professionalism. In the end patient get the best care. This also allows drug company to keep thier hands out and not influence anybody to thier products and health trust will be restored. Unfortunately this does not happen in Malaysia. Look at Australia, of coz ppl will still try to game the system but at least there is prevention put in place so it is not that easy. Too many red tapes here. And one group too powerful to determine everything and when that happens the pharmaceutical company and insurance can just sway the outcome. This doesn't mean all doctors are bad they just need to find a few willing doctors who look at money to spoil the whole reputation for everybody.

Current state you are true. That is because there was no separation of power like first world country. Look at Australia. Pharmacist are the gateway and if doctor simply do you can actually call them to talk about it. And if you suspect abuse you can report to authority and they will investigate. Hence they are the "custodian" of medicine. In Australia a pharmacist can even verify true copy of photocopies officially. However current Malaysia situation only gov hospital plays that role. Try to look at gov hospital. You ask them and they will tell you what happens when they found problematic or suspect something is wrong. They call the doctor to verify and sometimes allowed to alter the medicine after confirming with doctors. They can change certain things and then send the prescription back to the doctor or someone higher to endorse but they can do first and give to patients and let them go first. In the gov hospital things are different. However when it comes to community then it's a different story coz the separation of power never materialized. If you separate them then of coz more strict rules will happen. As of "current" situation, there is no economic incentives for things to happen. That is why it's like that lo. In the end money speaks. 😂 That's why... Need more dividend from kwsp

Edit: what makes you think i post from readings or hearsay only? And they are not real life experience? Just curious why you make that assumptions.

Agreed. But have you thought about why it happens? Coz there is no counter check and balance. Insurance know doctors can do whatever and hence they monitor. This delays the money suppose to be paid. So they vet and process. So medical centers have to up thier price for insurance just in case claim fail plus it takes time to get reimburse. This is vicious evil cycle and we reached a point here that it becomes 3x 5x 10x for certain item after so many decades. If you reset it and says a pharmacist will be the one dispensing medicine from now on and the doctors now are free from medical sales reps grip, and everything else like procedures are itemized bills and there is a "rate" for all procedures that is approved by insurance and justification for each procedures, then i am sure insurance company will be faster in payment which they reduces premiums charged to patients with insurance. Less processing fee less unpaid bills = less premium needed. Medicine dispensed by a pharmacist and with all medicine there is an agreed price list with margin agreed upon. Like in australia you pay very low fee and the rest claim from insurance and the insurance company also have the price list and they agreed a certain % as payment for the pharmacist. You will have a lot less issue and price is definitely cheaper in the long run.

Right now only gov hospital has separation in power where doctor diagnose and prescribe while you get medicine from pharmacist. Since.. Around 15 years or so ago, they started a KPI where the pharmacist record interventions and picking up issues with the prescribing. What was found is that they manage to intervene mistakes be it prescribing error (common especially newer doctor who copied the previous prescription wrongly or mistakes such as doses or frequency). They also found out that certain stuff that was meant for a certain time limit which the specialist prescribed but because it was just a regular checkup, the House doctor (HO) or medical officer (MO) did not realize and just re-prescribed. In gov hospital, there is a category called list A that requires a specialist to start but for a repeat any doctor can repeat. List A (different from poison A in poison act category) is usually more expensive and have some other requirements and only a specialist can initiate. In this "exercise" it is found that the intervention helped to reduce cost by a lot and it also improved patient compliance. Besides this exercise, patients also tend to tell the pharmacist a lot of things that they do not dare to tell the doctor. One example is reluctance to use insulin injection and a lot of them actually just take coz free but not using them and some return to pharmacy department after expired for disposal. Pharmacist at that time also started some program where they take back unused medicine which in good condition can be recycled for use and that's when they found out a lot of these expensive medicines are returned and not used. This is gov stat. Edit: for gov see HO and MO rm1, see specialist rm5. Medicine free. Procedures highly subsidized and normally less than 100 per day in wards. So there you cannot get any cheaper already la. If you want you can go kebajikan which is available at any gov hospital and they can reduce some more and sometimes you don't even have to pay.

In country like Australia, around 20 years ago (i not sure about now coz i haven't been there all these while), they have a lot of data as they already implement dispensing separation long ago. What happen is due to medicare system, the gov there have a few initiatives as well to save cost. One of it is for swapping original drugs to generics. As long as the doctor did not tick the box that no substitution is allowed (not abused and with reason why), pharmacist can swap to the generic. This has caused savings up to billions a year. The computer system is linked to the gov and every month pharmacist need to compile documents and sent to thier ministry of health both the physical copy and two disk for them to vet. Pharmacist are also the one who deals with insurance claim. What happens is the overall medical bill is reduced for ppl on medicare and for those not on medicare, they have health insurance and overall cost is reduced. Sometimes certain doctors for some reason tend to prescribe certain stuff and if the pattern is irregular as compare to the other doctors in the same area, the pharmacist can call the doctor to clarify. And yes they do call doctors and encourage to call doctors to rectify issue. Thier system is a lot better where doctor can emergency order prescription for thier patients and so on. Another time for this. Sometimes if certain irregular pattern is detected, pharmacist (especially if complaint by customer and it makes no sense medically) can call and verify or report to health authority. They will investigate. Happened a lot sometimes due to inducement or certain funny reason. That way the health authority can take action. Sometimes other doctors do report as well if they picked up funny pattern. This not only weed out unethical doctors, it also makes sure best care is given. Of coz the reverse can happen where doctors can report funny activity of the pharmacist. Due to the pharmacist the one who deal with insurance, they have a system where they have access to the price list and after negotiation with the gov, they set a % of earnings fixed. This also means that the pharmacist cannot simply charge and there is no bulk discounts or what not like our country where volume means you can have certain discount/tiered pricing and the selling price is not set. The insurance will comply and the premium are also regulated so they cannot over charge. This means overall savings and medicine is given base on professionalism and not what the doctor fancy coz there is no financial advantage and the pharmacist cannot charge outside the set limit. At that time, there is 4 category. Ex pats and elderly pay 5.95 per item and the rest gov pay, general public pay 15.95 and the rest gov pay, and normal pay x amount (set by insurance) and the rest insurance pay. As for doctors everybody pay 20 and the rest doc claim from gov or insurance and the rates are fixed. Simplified version la. There is a lot more but if i explain will be very long. This is 20 odd years ago ah.. i heard in 2010 they have a revamp of the whole system and i lazy to follow up coz no longer affect me. But you can see how this saves money.

In malaysia, the doctor in private do whatever they want and prescribe whatever they want and add whatever they want and nobody can control and the sales rep or pharmaceutical company can persuade them give xyz and volume incentives and tiered pricing and nothing is regulated EXCEPT itemized billing (recently only) and consultation fee limited i think up to 120 but they can add onto other place. The pharmacist also have similar issue with tiered pricing and persuaded to sell certain products even if they are really not necessary. With the current trend of chain store this becomes even more muddled coz now they have in house brands for both medicine and supplements. That's why lo. If power separation happens then we can then put in regulations then to make sure health is not treated like commodity. If that happens then everything will be better. Nobody monopolize and everybody counter check each other.

Oklah.. enough ranting. I will take leave as i think this topic is very very very overtime. I will no longer reply and only come back if ever when this topic die down. That's all. Sayonara. If i make anybody not happy, sorry ah. I just some old ppl ranting only and i dunno anything one. Just read what ppl say and hearsay only. So teruk la me. No real experience one... Sorry ya...

Just to add on that why Australia have these policies which actually benefit the people where by they will index drug prices against inflation and it is called PBS
Pharmacists are still cheaper to dispense medicines otherwise why on earth are they mushrooming around 🤦‍♀️

Developed countries have seperate policies for healthcare ranging from governance, resources and medicines

Which is why Covid happened Malaysia healthcare professionals are burdening with injecting people while not using pharmacists instead which can relief the workload of healthcare professionals 🤦‍♀️

In fact pharmacists are way better when recommending medicines for common sickness rather paying a standard fee for a doctor which will usually prescribed you the generic that are sold from pharmacists counter

Side subject....ahem, as a father (Unker fantasy) to both successful doctor n pharmacist children, Unker will not take sides in the lengty msg.

I
Congrats to successful children! 

Look at our pharmacist chain.
Didn't the big company monopoly them ?
They just pick a pharmacist as PIC, put them on fixed salary , and of course , teehee , all the profit goes to ?
One example : CARING is owned by ??????

Everything in Msia is corrupted for profits.
Nothing new here.
That includes the insurance/private hospital system.

And you, a doctor has removed the professional rice bowl of the pharmacist, can you blame them for being pimped?

Yes. Doctors earned tons from medicines dispensing! As if I need to tell you thus! 

Emotional?
It's a fact!
I have lots of doctor friends too.
And they admit to this!
Especially GPs. Do you get your medication from pharmacy after consulting a GP? Normally you just use their medicines. Especially if you are on s company's panel GP.
It's a fact!
And you are Emotional. Not me.

Both also korek. Specialist earns from operation charges and consultation. GPs earns from selling meds as their consultation fees is low. Easily 30%-40% higher than buying from pharmacies. Hospital also earns from selling drugs, which goes to the hospital, while consultation and operation charges mainly goes to the specialist.

long story short, everybody wants money. markup here and there. markup how much. all about money. nothing to be shy about.

And not just healthcare, I also earn 5-10 times less than normal every time its a malaysian government instead of private (or overseas govt) job. Alas during covid and even a little now, can't be choosy with jobs, just take everything to fill up schedule and cover the hole from 2 covid years.

As said above, from me too, thank you for your service to our country.

I think government allows surgeons to do locum. Otherwise there will be no surgeons in civil service.
Many government surgeons are better than the private ones over here.

I second to this cos they r have done surgories many times over than those who were in the private from the start.
But then many will eventually leave for the private.
But I have also seen those who simultaneously work at both but work more professionally when in private.

Its the one thing i could not understand, why making noise about contracts not being renewed, unfair terrms or not offered when possible employment is supposedly abundant in the private sector. Could i be missing something ?

Coz they only think GP only see patient, cough , fever AHHHHH , take meds go back...
Never think I&D , suturing, IVD , IM injection, S/C injection, Wound Inspection, STO , Ultrasound scan, Nebulizer offering, Wound Care, Change/ Irrigation of Bladder etc etc.

Of course GP is the fatso that sit there do nothing and push meds.
even drip has few types , which to choose, which not to choose , you need education for that.
Of course, base on their logic, ask pharmacist to set IVD , and give simply "salt water solution" will do.

KEK

It's okay , continue buy meds by yourself, no issue.

But with malaysian attitude, they will just proceed without thoroughly educated.
We even saw so much people "self taking" medication from pharmacy,
Steroids until their face like Jho Low (Cushiongoid)
NSAIDS until their abdomen burst.

normal behavior lah from the small minded ppl... not just doctors, anyone successful... they cannot tahan other people better than them...

Some are still practising in government service.
Those lousy ones only stayed long enough to get their specialist certificate.
So they aren't so good and experienced.

It makes perfect sense to sensible ppl. Not the b40 and politicians and certain group of ppl.. why? Coz they are larger in quantity and therefore higher voting numbers. You know la.. Politics.. want vote.. not want the best for the country. That's why we are in this predicament. Look at Singapore.. you will see why lo. 😂

Most of us here understand this....at the same time, due to majority are B40 thanks to the last 60 years+ of failed governance from a certain group of people....we are on a one track train to final destination. Nothing will change because the B40 is the vote bank. There is no turning back this country.

sorry to say...

B40 is the majority of Malaysia with M40 the second highest...

why they largest? because they breed more vs those in T20.... hard bitter facts....

and who the one asking for withdrawals??? those same group too...

EPF headache...
political pressure previously allow the withdrawals...

now need to cover back?
so cannot allow any withdrawals...

and needed to get back all the $$$ possible...
so increase self contribution to 100k per member.... later few years up to 150k... then finally at 200k.... that's the future plan

If it does turun, simply withdraw and park it somewhere else which offers better dividends.

40k? Why in such hurry, better to do it end of month.

Those are funds allocated specifically for epf so I just wanna get it done and dusted. Interest that could be earned for the month elsewhere is peanuts anyway.

40k at 3% still can earn about RM95 for around 30 days. I am poorfag B40. Can makan very nice one meal oready...or 9 meals of Wantan Mee/CKT/Basic Chap fan.

Just curious...

U dump $$$ into EPF strictly yearly basis or just when got mood & $$$ available from time to time???