Should I Upgrade My Medical Card?

When did you last check your Medical Card coverage?

With the Rising Medical Costs with the implementation on GST even on medical care, inflation and more advanced medical technology, have you upgraded your medical card?

Is your Medical Coverage sufficient to cover the current and the future 10 to 20 years to come medical costs?


What Is The Current Medical Charges?

With the increase in life expectancy in 2013 to 71 for male and 77 for females, we gonna live longer. With the advancement of medical technology and continuous medical research, there might be cure for many critical illnesses that may not be cured currently. Now the medical industry is growing rapidly and so much so it has become a lucrative business. These are the costs of healthcare today and do you think these costs will stay the same or will it increase in the next few years to come:

Estimated medical expenses effective November 2015 (Source: AIA)


So now, since it is a healthcare business, money talks, if you have money, you can get the best medical care. My biggest worry when I retire, would be whether I have sufficient money to go see doctor when I really need to or will I be bankrupt paying for my health costs.

When the time comes, I am not sure whether my kidney is worth selling?? Or whether they want my kidney?? Haha… I can sell my kidney, do you want?


What About Government Hospitals?

Well, there is always another cheaper alternative, which is to go to government hospital, which heavily subsidized by the government. My dad went to the neighborhood government clinics to get his diabetic, hypertension and heart medicine. He will just collect the monthly supply of medicines without having to pay. He consumes all kinds of medicine comes in different colors, it’s like having a daily “Tic-Tac” candy. These medicines are only a controlling factor as the doctor’s advice, no cure, just take the medication for control and we will monitor his condition closely. If condition deteriorate, the docs will increase the dosage or to prescribe a stronger medicine. This is how the government hospital work.

If condition deteriorate till to a serious stage where the clinic is not able to handle, they will then refer you to the government hospital of your choice. Then since you are a new patient in the government hospital, they will do another thorough check again. So if it is blood test… they don’t really care if you already have the most recent blood test results performed yesterday, you still need to do another blood test for checking purposes under the hospital care. Then since the queue is very long, you have to wait for another 1 week in order to get the appointment date to take the blood test. Thereafter, you will have to wait for another call for the appointment to see the doctor. Until you are an emergency state, you will have to wait and wait and wait. So I would think by time we can see the doctor, would be in 1-2 months time.

Long queue in government hospitals

How Important Is The Medical Insurance?

Do you think it’s important to have medical insurance to cover your medical costs? Some people that I talk to, mentioned that “If I’m sick, then I’ll wait at my death bed and hope to die lor.” The problem does not just end there, instead it’s the beginning of a whole new trail of events and issues. When you are sick, have you thought of the people around you? Who will bring you to see the doctor for the first time, and for the continuous periodic follow up? You are fortunate if you have a fortune to cover for the medical bills. Have you thought that because you have no medical coverage, no medical insurance, no savings fund, who will be paying for your bills? Not only your medical bills, but also your nursing care expenses, your special prepared food, your medication needs and your everyday living? You will be very fortunate if you have your children to take care of you but what if your children is also struggling to make ends meet? What will you do then? Will you be still saying “I’ll just wait to die”? What if you still want to see your children grow up, go to school, and get married? What if you are still waiting and have yet to carry your first grandchild?

Would you prefer to ask for donation or to get the insurance company to pay for all your medical needs?

Be responsible for yourself and your medical coverage. Don’t let the medical costs make you a bankrupt!! Invest in the right protection plans. Congratulations to everyone that already has a medical coverage. But do a review again to see if your medical coverage is sufficient to cover the current medical costs! For example, if you have bought your policies 10 years ago, RM100k annual limit with RM300K lifetime limit might be the best and it’s sufficient to cover the medical costs 10 years ago.

Now that we are in the information era and due to the advancement of the medical technology, the cost of one time surgery for cancer and hospitalization can easily costs about RM200K, which we have yet to include the outpatient cancer chemo and radio therapy which may costs about RM35K. The old medical card has served it purpose to cover the medical charges for any claims for the past 10 years.


Upgrade Medical Coverage to RM1.75 MIL Every Year Till 100 Years Old

There is currently a new plan created to cover the current medical costs with high annual limit ranges from RM1.1 mil to RM1.76 mil. This is a budget given to cover any hospitalization bills till the insured aged 100. Some old plans only covers till 65, 70 or 80. As the mortality rates increased, the insurance companies see it a need to increase the coverage age to 100 too. With this new medical coverage, there is unlimited lifetime limit. In other words, a maximum of RM1.76 mil is your medical budget till you are 100 years old.

At the same time, we have also introduced a high limit outpatient kidney dialysis and cancer treatment which ranges from RM750K to 1.95 mil per lifetime in addition to the annual limit.

Another important point is that we don’t practice co-insurance. For co-insurance, if there is any claims for the medical bills of RM1.76 mil, you will have to pay at least 10% which approximates RM176K. It will definitely be a sum to pay when the medical bill is high. With this new plan, you can be rest assured that the whole RM1.76 mil medical bill under reasonable circumstances would be fully paid by the insurance company.


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