Besides buying medical insurance, you can do so much more to fight medical inflation!

Keep yourself fit and healthy & get covered for hospitalization.

Fundsupermart May 18, 2017 2570

News have spread that insurance companies will be increasing medical insurance premium due to an increase of health care cost in Malaysia of around 15% every year. Some would have already felt the impact of paying an additional of RM300 per year for their existing policies.1 The medical inflation not only affects private hospitals but also government hospitals. As mentioned by Health Minister Datuk Seri Dr S. Subramaniam, government hospitals will see an increase in charges for its first and second class wards but the charges have yet to be finalised.2

So, what are the things that you can do when the medical fees keep going up?

1. Keep yourself healthy

By keeping a healthy lifestyle, you are less likely to fall sick as your immune system is strong.

Eat a balanced meal

When you tend to have a healthy and balanced diet every day by eating adequate carbohydrates, protein, fats and your 5-A-Day which means at least 5 servings of fruits and vegetables each day, you will generally feel healthier and energised. According to the World Health Organisation (WHO), adequate intakes of fruits and vegetables can help prevent cardiovascular diseases, diabetes and some cancers, reduce nutritional deficiencies and increases resistance to some infectious diseases.

How can you achieve your 5-A-Day?3

1. Eat at least 3 servings of vegetables and at least 2 servings of fruits a day.
2. Eat at least 1 serving of fruit and 1 serving of vegetables at every meal.

*As a rough guide, one portion is the amount of fruits and vegetables that can fit in your hand.

Exercise regularly

Exercise not only can improve your stamina and body fitness, it can also reduce the risk of stroke, diabetes, high blood pressure, heart diseases and some cancers.

You can sign up for a dance class, go for a jog or even a stroll.

Have enough sleep

Studies have shown that lack of sleep or poor quality sleep can negatively affect one’s health in the short and long term. Professor Chee, director of Duke – NUS Medical School’s Centre for Cognitive Neuroscience highlighted an increased risk of diabetes, obesity, cardiovascular disease, stroke, cancer (including colon, breast and prostate) and Alzheimer’s disease if a person has poor-quality sleep or sleep deprivation in the long term.

In general, most healthy adults need around 8 hours of sleep every night. So, put your phone, ipad and laptop aside and get a good night sleep.

2. Do regular medical check- ups

In order to keep track on your health condition and avoid any late detection of illness, you can make an appointment with your doctor and do a comprehensive medical check-up. You may think that the process is troublesome and unnecessary but a regular body check-up may do more than provide you with reassurance of good health. Early detection of any illness may save your life and also the treatment cost.

3. Opt for government hospitals/clinics as cheaper alternatives

If the medical cost of private hospitals is beyond your affordability, you can always go to the government hospitals/clinics where the medical facilities offered are heavily subsidised by the government and medicines are cheaper compared to the private hospitals.

Do you know that when an outpatient sees a doctor, he/she needs to pay only RM1? When a person needs to see a specialist, the first visit is free as long as he/she is referred by the government medical office, the subsequent visit will be RM5. View here for more information.

When a person gets admitted to the government hospital, he/she will also get to pay a lower fee for the same medical treatment he/she would have receive in the private hospitals. The current charges for 1st class ward is between RM60 – RM120 a day4 compared to private hospitals which charge at least RM250 a day. As for maternity treatment, it costs only RM300 at 1st class wards in the public hospitals compared to RM3,000 in private hospitals. If the doctor needs to use instruments like forceps and vacuum, or caesarian operation, the costs in first class wards of public hospitals and private hospitals would fall between RM400 - RM800, and RM4,000 - RM 15,000 respectively.5

On top of that, Malaysians can enjoy special discounts or charges waived when he/she goes to any government hospitals and clinics for medical treatments. This privilege is applicable to those who are earning below RM300.00/month, or holder of Social Welfare or National Islamic Council (MAIK) card, disable person, students and government servants.

4. Buy a medical plan that has sufficient coverage

After sharing an infographic on critical illness, many people have asked us how to go about when it comes to critical illness, hospitalisation and surgery. Some common concerns are, how to cover the cost of pre-and post-hospitalisation, and how to help cover lump sum costs for certain treatments especially with the increasing cost of medical treatments. Depending on your age, preferences and requirement, there are many options of medical cards that you can choose from. Plus, when you buy insurance when you are healthy, the cost of premium will be cheaper too.

The information below is based on a male, 35-year-old and non-smoker:

Insurer

Hong Leong Assurance

MCIS Insurance

Manulife

Zurich

Plan

HLA MedGLOBAL IV Plus (MGIVP)
200

MaxHealth Plan200

ManuMedic MM200

Omni Health Gold

Hospital Room & Board
(RM)

200 per day
(Max 150 days per year)

200 per day
(Max 150 days per year)

200 per day (No limited day)

RM 260 per day (max 200 days per policy year)

Overall Annual Limit (RM)

120,000

1,000,000

200,000

150,000

Overall Lifetime Limit (RM)

600,000

Unlimited

Unlimited (Hospitalisation); 400,000 (Outpatient)

1,050,000

Co-insurance

NA

20% (Max 1k) if exceed R&B

10%,(RM300-RM1,500) if exceed R&B

Yes, 10% with maximum of RM2000

Annual Premium Paid (RM)
*annual premium increases according to the life assured’s attained age band

973.72

1,386

1,407.68

1,774.44

Estimated Total Commission Received from Insurer
(RM)

1567.68

1247.40

2266.36

2856.84

Savings You Get Through
FSM Insurance
(RM)

470.30

374.22

679.91

857.05

Note: Calculations are done on the assumption that the distributor will receive commissions for only the first 6 years from policy inception. The rebate figures are meant as an estimate and are not guaranteed. If the policy lapses or terminates, outstanding rebates will not be payable. Figures are based on a 35-year-old male non-smoker client profile and the average premium of the products on our platform. This is a simple illustration that does not take into account different client profiles and type of insurance plans.

Do live a healthy lifestyle and make appointment with your doctor for regular medical check-ups because they do make a difference in your life. As for the medical card, depending on your financial budget and medical needs, there is always a medical plan that suits you. Feel free to talk to our FAR who can help to review and walk through with you the different plans that are available, so you can make the best-informed decision.

 

 

Protect yourself and your loved ones now and enjoy savings at FSM INSURANCE!

1Source: https://www.fundsupermart.com.my/insurance/article/medical-insurance-hikes-upset-agents-policyholders-27

2Source: https://www.fundsupermart.com.my/insurance/article/government-hospitals-to-increase-charges-next-year-23

3Source: http://www.moh.gov.my/images/gallery/Garispanduan/diet/km5.pdf

4Source: http://www.thestar.com.my/news/nation/2017/04/17/public-hospitals-charging-more-first-and-second-class-wards-more-expensive-at-63-medical-centres/

5Source: http://today.mims.com/topic/malaysia-s-moh--new-first-and-second-class-ward-fees-will-not-burden-patients

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