Skip the 2.

My experience told me that insurance are cheating my money.

I think your steps are pretty sound.
PRS would be a good choice but i suggest to keep it capped at 3k. Then continue to save up.

Use government hospitals. Don't spend rich man money when u are not a rich man.

Try to employ under BIG COMPANY; THEY usualy provide medical card.

Dont get wrong own Insurance Medical Card vs Empoyee Medical card.

they hv limit and charges.

2. insurance is necessary, i would say... but you don't need to pay RM200 monthly for a good medical insurance. at your age, <800 (a year) is more than sufficient to get a decent one. also if your company covers a decent medical benefit, i would say this can be put on hold a bit, or get a medical insurance with high deductible, then you pay little for potentially high coverage. if your company doesn't cover, then, might need to think about it asap. like i said, insurance doesn't have to cost much, just need to find the right one.

3. PRS is basically investment in unit trust. the difference between PRS and normal unit trust is tax relief (up to RM3k)... and PRS doesn't allow withdrawal before age 55 (similar restriction to EPF). since you are not paying a lot of tax, the tax savings you get is not worth locking up your money for so long. BUT... there's the PRS youth incentive which is why i'm putting just enough money (Rm1k) just to get that youth incentive (RM500).

so, unit trust can be another way of investing, and you can DIY, and please visit the Fundsupermart thread to read up on what the regulars have to say and DO YOUR HOMEWORK. 

PS: i'm your age, not sifu either. also... the other guy has an absolute hatred on insurance, very extremist opinion.

+100 for that

As on insurance, get ADEQUATE NECESSARY insurance.

Many if not most people bought insurance that they do not NEED, e.g. if u are single and got no dependent (e.g. parents are loaded and do not have to rely on you at all), you don't need life insurance. And don't say that "when u buy young, u pay cheaper premiums", insurance companies employ professionally-trained actuarial graduates who know how to price the premiums so that at the end, they still earn the same amount from u (hint: time value of money. u pay lesser, BUT u start paying earlier, at the end, it's STILL the same ).

My late mum too.

Those life-threatening diseases like cancer, I doubt medical card limit can cover much too. Gotta go to government hospitals.

Reserve medical card for not-so critical sickness when u prefer to stay at more luxury private hospital and layan by pretty nurse

well... like everything in this world, there's a limit. we can't have EVERYBODY flocking government hospital and people not buying insurance and not going to private hospital... then government can't sustain the healthcare bill... price increase... everybody lose...

yes thankfully, with government hospital and also semi-private like ukm/um we managed the bill for 2 rounds of chemo for my dad. otherwise... ya, we wouldn't be able to afford it cause my dad ain't got insurance...

yes, about the reducing expenses thing, we can't have no spending as well... something needs to drive the economy... HAHA  anyway, yes i do spend very little, but you know, just saying... so i encourage my friends who make money than me to continue spending 

so yes, i still think medical insurance is necessary... because i don't want me to burden others like how my dad sort of became a burden... and well, when one is sick, one deserve some privacy and comfort after all...

BUT seriously, did you check with your employer? do you work in a big-ish company and check with HR about your benefits? like actual hospitalisation benefits...

also... when you are at the point of being approach by an agent, and seriously considering to get one, just drop by the forum insurance thread to get some input.