Best Medical Insurance in Malaysia : Protect you and your family
Best Medical Insurance in Malaysia : top 3 medical insurance 2019
Which is Best Medical Insurance for Malaysians?
This is the most practical, highly actionable guide to buying the best medical card in Malaysia.
The greatest part?
We are going to show how you can the afford the best medical coverage as per your budget, something that tied insurance agents are not able to do for you.
In short, you’ll love this guide if you are looking to minimize the premium cost while maximize your coverage (and saving tens or hundreds thousands in the future).
Let’s get started.
The Best Medical Cards in Malaysia are:
Medical card products from major insurance companies in Malaysia are always evolving rapidly, ever-trying to outdo each other to become the best medical insurance in the eyes of consumers.
The best in this sense refers to competitiveness in features and costs; so it is actually very good for us as policyholders who are looking to insure ourselves.
- MediSafe Infinite series medical card – Allianz Life Insurance
- A Plus Health series medical card – AIA
- Smart Medic series medical card – Great Eastern Life
As you notice, the Greatest Medical Cards in Malaysia come from major life insurance companies, brands which you probably already notice before.
Allianz medical card best medical insurance in Malaysia?
Allianz medical card review
- Within 30 days from the hospital discharge date, Allianz will reimburses the charges incurred for alternative treatments such as Chiropractic, Chiropody, Homeopathy, Osteopathy and Acupuncture up to 1 visit per day,
- The best thing about Allianz medical card (Medisafe Infinite Xtra) is that it extends coverage treatment in Singapore, following Reasonable & Customary Charges in Singapore. (MediSafe Infinite covers treatment in Singapore but following Reasonable & Customary Charges equivalent to local treatment in Malaysia.) Also, with Medisafe Infinite Xtra (1.8 million annual limit for R&B 300), there is no co-payment if you are hospitalised at a Room & Board which is higher than your eligible benefit, plus reasonable & customary charges equivalent to local treatment in Singapore. You only bear the difference in the upgraded room & board charges.
- Another benefit about Allianz medical card is that it specifically mentions, in the quotation, to include consultation, examination tests and take home drugs for outpatient treatments.
- It also has the highest combination of pre & post hospitalization coverage, and matches the room & board + ICU coverage of 150 days for each, second best compared to Manulife’s unlimited room & board/ICU.
- The co-payment clause is an disadvantage but we feel this is no big deal as it is capped at maximum RM 1,000.
- Given that the comparative premium is the lowest among other medical card riders, this is the best value for money.
- There is a lower plan known as MediEssential (with annual limit which is a divider factor of 10 and a hard lifetime limit).
- Its outpatient kidney dialysis and cancer does not have separate limit; it follows the overall annual limit and lifetime limit of the R&B rate chosen so this is good.
- In a nutshell, Allianz medical cards range from low end (Medisafe Essential) to very high end (Medisafe Infinite Xtra); it’s like you can choose a Lamborghini, Mercedes or Proton depending on your budget, all reasonably priced, under one roof.
AIA medical card best medical insurance in Malaysia?
AIA medical card review
- A Plus Health medical insurance replaced A-Plus Med as its flagship medical card in Q4 ’18.
- It has upgraded to 150 days of normal Room & Board (R&B) and Intensive Care unit (ICU), totaling 300 days/year
- There is also provision for Organ/Bone Marrow transplant (receiver’s coverage only) – as charged, subject to Reasonable and Customary Charges up to Overall Annual Limit, once per lifetime.
- Singapore & Brunei are not considered as overseas medical insurance coverage (which is good!)
- It also provides Emergency Medical Evacuation and Repatriation up to USD 1 mil (do not mistakenly think this is international health insurance coverage)
- Lifetime limit for outpatient kidney dialysis and cancer treatment has been upgraded to no lifetime limit.
- Unique Health Wallet, Prevention Benefit and Protect Boost feature, making it priced higher than average compared to other medical cards compared.
Great Eastern medical card best medical insurance in Malaysia?
Great Eastern medical card review
- The base plan SmartMedic Xtra has been enhanced with SmartMedic Xtra 99 and Smart Extender 99
- It has 180 days of hospital confinement but combined normal hospitalization and ICU (intensive care unit)
- The base version of SmartMedic still has co-insurance & co-insurance clauses and coverage age is limited to age 80 if not added with Smart Extender 99.
- Overall, we opined that it’s an average medical card which ranks in the middle among its peers.
Understanding basic medical card terminologies and why you must get the best health insurance for yourself
The complexity of the best medical insurance is not to be underestimated if you plan to retire in Malaysia for long term. Since health insurance, just like any other insurance, is essentially and understanding the terms and conditions of your medical coverage is absolutely vital.
To prevent the hassle of dispute with the insurer on what it is not covered or reimbursable when you thought they are covered.
These are some of the health insurance features that you definitely want to take note on:
- Daily Room & Board rate (R&B) – determines the type of hospital room you can choose to stay in without topping up the difference. It is very normal to go for a minimum RM 200 R&B nowadays, which could be a twin-sharing room. If you want basic single room or above, a R&B of RM 300 and above is recommended. Upgrading R&B rate higher than what you are entitled for in your health insurance policy may trigger a certain co-payment clause in the insurance contract. This render you needing to share a certain percentage of the total medical bill with the insurer, aside from paying the difference in room & board rate.
- Annual Limit (if any) – Describes the limited sum of medical expenses which can be exhausted within any 1 policy year as long as the health insurance is in-force.
- Lifetime Limit (if any) – Describes the limited sum of medical expenses which can be exhausted throughout the duration of health insurance coverage.
- As charged – covers hospitalization expenses which are deemed medically necessary, and as per reasonable and customary charges according to the schedule set by MMA (Malaysian Medical Association). If a medical procedure was being overcharged by hospital, then you need to top up the difference of amount for which the insurer doesn’t cover.
- Deductible – an amount that you will have to pay for your medical treatment before your medical plan will begin to pay for you.For example:
Deductible level of RM 5,000 means when Ali got admitted to hospital and the medical bill costs RM 9,000, Ali has to pay RM 5,000 first before his insurer pays the balance, up to the medical card annual or lifetime limit.
- Co insurance – an amount, usually in percentage (10%, 20%) of the total medical bill which you have to pay from your own pocket, regardless of the medical bill amount. The insurance company does not cover for this amount.
Which Medical Card to Sign Up?
What is worse than inflation is not obtaining a full medical card after retirement, especially when it actually hits. I’ve talked to many individuals, especially in their fifties who admitted to me that when they were in employment, they overlooked of getting their own medical card. Then, just before the mandatory retirement, it struck them – nobody is going to cover his post retirement medical bills.
If you are reading this, then I do not want this to happen to you. Yet, I know what you are thinking – you probably don’t want to get a redundant medical card while you are covered by your company.
If this is your concern, then Second Medical Card aka Deductible aka Top Up medical card is the best for you. See below
When you are employed before age 55:
It could well be a good complement to your company-provided group medical card.
For example, if your company medical card coverage is RM 30k/year, you could get a RM 30k deductible medical card, with minimum premium (RM 1,200). Which means, only RM 30k and above medical expenses will be covered by this second card. (by the way, the deductible amount is configurable from RM 2k up to RM 30k)
When you retire after age 55:
Allianz deductible medical card is clearly the best medical card range here because it is auto-convertible to a full medical card at retirement age – 55. This feature beats out all others without retirement conversion options.
What it means, when you reach age 55, this health insurance will convert to become a zero deductible card – which means any medical expenses can be charged under this card – at the time when your company medical insurance coverage ceases. This happens without needing you to prove your health condition at age 55. Besides, it also has:
- Coverage for outpatient stroke treatment and outpatient physiotherapy treatment
- Reasonable co-payment clause capped at RM 1,000
- Coverage extends to Singapore & Brunei (reimbursement basis).
Cheap? Yes. Peace of mind when you retire? Absolutely.
Hospital bills are continuing to increase along with inflation. Quickly get yourself a medical card before it’s too late and protect your loved ones as well if they do not have a medical card still. Don’t overlook it!