No need. Standalone medical card estimated cost RM200k+. Maybe RM300k if you want to count in inflation if cover until 80 year old.

This post has been edited by Ramjade: Jan 19 2024, 11:21 PM

Please keep in mind to plan hop wisely. Especially to people who said dont want to benefit agents.

Buying a new plan is usually giving commission from year 1 to agents. For most plans commission are generally highest in year 1, gradually reduce over the years.

if you have an Investment-Linked Plan, please reach out to the insurance company if you have the option to delete current medical rider and add new medical rider. from what i know, my brother's policy, about 20 years old, can attach a new medical plan. most likely additional premium is required, but instead of changing the entire plan, he continue to keep his current plan, and the overall charges incurred will be lesser. Caveat: Not all insurance companies will have this option for all their investment-linked plan. so, i hope you are lucky.

please read the product disclosure sheet where possible. BNM will always say insurance is a long-term plan (when long means almost life time long), so dont surrender buy new due to high initial charges.

insurance company is not a charity, it's for profit. However, BNM will be there to watch closely and insurance companies won't submit for reprice if their claims didnt worsen. let's just say hospitalisation claim has only worsen and has not improved over the years.

the only exception and anomaly was/is COVID where people just stop going to hospital...

Also to add on, BNM is coming up with guidelines to steer the industry to control these repricing situation as shared by BNM paper (the one shared by contestchris). BNM wants it to be sustainable and bla bla bla... it's not perfect but it's a work in progress.

search for post #4770

This post has been edited by adele123: Jan 22 2024, 10:57 PM

It depends , dire emergency still we do it on the spot.
but if government facility too crowded then the waiting list will be long like fck.

example Appendix usually called at midnight, Acute Cholecystisis for Lap Chole is literally back of the waiting list.

If emergency which involve life and death, yes you will get treatment asap. Others wait your turn.

Is going to private hospitals for medical hospitalizations treatment for those "emergencies" covered if you just buy that kind of insurance plan?
That particular kind of insurance plan as suggested to just buy, by a forummer and posted just above mine in that 10 Jan posting which you had responded to?

This post has been edited by MUM: Jan 23 2024, 11:54 AM

They need to introduction NCD like cars. Too many abuse the plan.

Manulife already have a NCD based medical plan.

Is there a insurance company in M'sia that has the least increase in the past 10 years. This is for ILP medical policy.
If we could poll the data from internet users for their medical insurance premium hike for the past few years then we could present it as a comparison table. This will be a valuable info especially for people that is shopping for one

Only BNM knows as it each inceesse in premium need to go through BNM. Don't think they will release the info as by releasing the info, it will affect the company reputation and people may not buy from them.

One of the reason for the repricing is that private hospital charges a leg and an arm for patients that uses medical card.

You often hear patients can get it cheaper if it is paid personally by cash or card. If it was covered by medical insurance, private hospitals will inflate the amount

There is currently no body or authority to scrutinize this malpractice which eventually leads to higher medical insurance cost now and towards the future.

cheaper because less admin work...

but branded drugs cost about the same...

itemized billing goes to the insurance companies for scrutiny... they have doctors to advise reasonable or not on the claims...

This should be the case. Why people who didn't make any claim get slapped with higher premium? The re-pricing should be levied on those who frequently claim and slightly adjust for medical inflation, where required. At the moment, medical insurance looks and feels more like collective punishment, you get hit with someone's bill and than you get slapped with medical inflation.

That is how insurance works.

This is the reality. The premium you are paying already included companies profit, agents luxury life, and those who claim for medical bills. Technically, those whose genes are more likely to get sickness will benefit from insurance. I have seen some people claim almost every year but some never claim for 20 years. U can observe from ur family history to estimate how much premium u want to buy instead of listening to agents to cover 2 or 3 million coverage which is a stupid risk and reward ratio decision.

Hmmm, but that's how insurance works!

I believe one avenue that can be improved is doing more stringent medical underwriting. Too many frauds are getting medical cover without appropriate loadings and exclusion. Agents collude with customers to obfuscate this information.

I haven't claim anything since I was in my 30s when i bought my medical insurance. I got hit with 3-4 repricing even though I did not make any claim. I like the Manulife's concept with the tier NCD on premium provided you don't claim.

I got one friend he is 60+, also never claim before.
Sadly only those discounted premium limited offer to only ILP only.

This post has been edited by Ramjade: Jan 29 2024, 02:58 PM

damn that's the scary bit, when retire already have to pay through the nose for cover.

A very direct answer to the question as per the thread title:
With money.

A few very direct answer to the question as per the post:
1. Class-action lawsuit
2. Everybody to lead a healthier lifestyle
3. For people to stop abusing the health insurance provisions

Sharing with you the insurance charges for an ILP underwritten by AIA, for reference