I just found a new job offer. However I am concerned on the medical coverage benefit offered by the company

Current:

Policy quoted in USD as they dont have business entity in Malaysia. Almost all illnesses and surgery fully covered by the policy. No limit that I know of
Medical checkup covered up to 1K USD
Dental up to 2K USD
Glasses covered up to 400USD + eye exam covered

Everything either direct billed to insurance provider or pay+claim.

New offer:

Everything quoted in MYR, follow local business policy

Medical
See specialist only up to 1.8k MYR
60k annually if hospitalized/surgery

Medical checkup covered up to 500 MYR
Dental + optics total only 1k MYR

As you can see, the medical and benefits side dropped a lot, I am trading this benefit for a 20% salary increase + slightly higher AL....is this a wise decision?
I do not like my current job anymore aside from this medical benefit it offered so I do look forward to the new job actually.

This year, I spent almost RM 7k in private hospital trips due to health issue and multiple follow ups, but this is an unknown factor on how many more health checks gonna happen in a new year.

The new offer you mentioned is just "average" or "normal" in Malaysia. Nothing special.

The RM7k you spend on medical, is that due to some illness that you suffer from or is it a one-off kinda thing?

Normally, I'll advise that Medical Benefits should not be a priority in what career/job you choose, but if you forsee more trips to the hospital, think carefully.

My late ex boss stayed on his current company that he worked with for more than 20 years (even though he had multiple other offers) primarily because the company paid for all his medical bills (he was not a very
healthy person)

if me, i will go for it

Basic salary > comm and benefits
you can actually check back, how much of the "medical benefits" which u used in your current / previous job

Just give you a scenario for you to decide. Ppl buy medical card policy for unforeseen event. You don't buy with the expectation to utilize the millions limit in your medical card. If you really need to use until that much, life basically already has no more meaning. Similarly ,even if the medical benefits drop, ask yourself do you really need to maximize / utilize this limits annually ? I rather hope I'm healthy & do not required to utilize this benefits.

Focus on current, don't too focus future (probability) issue, which may not even going to happen. Insurance agent will be happy if the world got more ppl like you.

ima not insurance agent but did u buy any medical insurance?
You also can use part of the increment to "topup" the medical insurance if you believe you need it.

btw, medical benefits are not like salary. They can revise every year. For your case, they can just convert to MYR base without your consent. Of cause you can argue that they can do paycut if they intended, but it wont be that simple of changing medical benefits.

Salary > everything

Add on medical card/personal insurance