TYPES all doctor’s visits as well as delivery.

TYPES & EXAMPLE OF
INSURANCE

a.      Individual
Malaysia Health Insurance Plans

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In
Malaysia, there are two primary forms of individual health insurance coverage.
There is Individual Emergency Health Insurance and Comprehensive Health
Insurance. The benefits offered by these two types of plans differ greatly and
it is up to us to determine which form of protection will suit our specific
needs. Furthermore, all private insurance providers have specific coverage
requirements and restrictions particular to their own brands of coverage.

The
Malaysia Individual Health Insurance Coverage is While options and levels of
coverage vary, a common factor that all individual health insurance plans
offered in Malaysia have is that they will provide the insured with the peace
of mind that comes with being able to access included necessary medical
treatment, should the need arise. Below are some of the individual health
insurance plan coverage benefit options offered by many insurers in Malaysia:

·       Dental
Coverage

·       In-patient
Coverage

·       Out-patient
Coverage

·       Vaccine
& Preventative Treatment Coverage

·       Complimentary
Medicine & Alternative Therapy Coverage

·       Maternity
Care Coverage

·       New-born
Child Coverage

·       Emergency
Evacuation Or Repatriation Coverage

 

b.     Family
Malaysia Health Insurance Plans

 

A Malaysia family health insurance coverage plan is
designed to provide financial protection in case any member of the covered
family encounters injury or illness. In all situations and by all providers,
specific guidelines will outline who is considered a family member. For
instance, some plans may cover both parents and all dependent children, whereas
in other plans, members may need to be added to the insurance policy individually
and thereafter, coverage is extended to them and the policy premium is adjusted
accordingly.

Because many families decide to purchase insurance
when they start to expand, it is good to know that often an expecting mother
and her baby are automatically covered under the policy’s terms as part of the
insurer’s maternity coverage, including all doctor’s visits as well as
delivery. The baby may sometimes even be automatically covered after birth as a
member of the family. In other plans, the newborn may need to be added as a new
member of the family. The some other important features and available options
for family health insurance coverage in Malaysia to consider are:

 

·         
Dental Coverage

·         
Pre-existing Condition Inclusion Coverage

·         
Chronic Condition Inclusion Coverage

·         
In-patient Coverage

·         
Out-patient Coverage

·         
Vaccine & Preventative Treatment
Coverage

·         
Complimentary Medicine & Alternative
Therapy Coverage

·         
Maternity Care Coverage

·         
New-born Child Coverage

·         
Emergency Evacuation Or Repatriation
Coverage

 

c.      Group
Malaysia Health Insurance Plans

 

As the economy of Malaysia continues to grow and
employers seek to create more desirable and enticing benefit packages to
attract and retain quality workers, the value of offering comprehensive private
medical insurance to companies for their employees is further reinforced. By
offering quality health insurance coverage, both the employers and employees
see benefits, resulting in a happy and highly skilled workforce.

The Malaysia Group Health Insurance Coverage it is because
group plans are intended to provide health insurance to businesses and other
organizations with several members who by nature, tend to have associates of
various ages and health conditions, most provider companies will extend
coverage to a much larger spectrum of potentially insured persons than many
individual or family plans may not allow. Some of the benefits available from a
group health insurance plan include:

 

·       Dental
Coverage

·       Pre-existing
Condition Inclusion Coverage

·       Chronic
Condition Inclusion Coverage

·       In-patient
Coverage

·       Out-patient
Coverage

·       Vaccine
& Preventative Treatment Coverage

·       Complimentary
Medicine & Alternative Therapy Coverage

·       Maternity
Care Coverage

·       New-born
Child Coverage

·       Emergency
Evacuation Or Repatriation Coverage

 

d.     Malaysia
Travel Insurance

 

Whether for business, vacation, volunteering, or
adventure, Malaysia attracts millions of visitors every year. As health
insurance is not often honored outside the insured’s country of residence and
few things are more frustrating or stress-filled than a serious injury or
illness abroad, it makes good sense to purchase travel insurance for the
duration of stay in a foreign country.

The Malaysia Traveler’s Insurance Coverage .Since
accidents are never planned for, but all too often occur when away from home
and since accessing quality healthcare can be very difficult without adequate
coverage, many decide that Malaysia travel insurance is a smart investment.
Additionally, some travel insurance can even provide financial assistance and
coverage against loss due to unforeseen travel plan changes and cancellations.

Traveler’s medical insurance plans come in multiple
levels of coverage. From very basic emergency-only coverage, which provides
assistance in case an insured requires hospitalization, to comprehensive plans
which will provide help for nearly any emergency or illness and sometimes even
assisting in non-health related situations.

 

 

REASONS
ON WHY PEOPLE SHOULD HAVE MEDICAL INSURANCE

 

Since 1970, medical and health insurance products have
been available to Malaysian citizen. However, most people rely more on
government’s general hospitals, where medical healthcare is costs cheaper than
private hospitals. Thus, medical and healthcare insurance is more applicable
for personal accident, workmen’s compensation and motor (third party bodily
injury) insurances.

Nowadays, Malaysians prefer private hospitals than
public hospitals. This is because customers want fast and greater healthcare
options even though it is not cheap. With increasing medical procedures costs
year by year, this made even important for people to have a medical and
hospitalization insurance to cover their expenses.

Plus, with an increasing lifestyle diseases like
diabetes and chronic heart disease, getting a fast and immediate treatment
becomes a highlight to the importance of medical insurance. For example, there
are 2,500 case of kidney failures each year and there is a possible chance that
1 out of 4 people will be diagnosed with cancer by the age of 75.

 

THE
IMPACTS OF HEALTH INSURANCE SCHEMES

Figure above shows the demand and supply effects after
the Introduction of a Health Insurance Scheme.

1. Effect on members

 First of all, insured members no longer have
to search for credit or sell assets. They also recover more quickly from their
illness since there are no delays in seeking care. For example, the fact that
people in rural areas rely mainly on their labour productivity and on assets
such as livestock for income generation, a serious decline of income can be
prevented as productive assets are protected and people can return to work
sooner. Income is stabilized, and may even increase, taking the sum throughout
the year. Consumption will be more stable and probably even higher, thereby
positively affecting the health of all household members. Both increased
consumption and better health contribute to overall income. In the mid- to long
term, the positive experience in terms of immediate access to health care and
the resulting benefits to some households or community members with health
insurance, may create trust in the new institution. It will also encourage
people to prolong their membership and convince others to join the scheme.
Therefore, the demand for health insurance increases, as shown by the dotted feedback
line.

2. Effect on providers

The fact that people may be willing to
spend more money on securing access to health care than they can actually pay
as user fees at the time of illness and that the healthy carry the financial
burden of illness together with the sick via the insurance scheme, additional
resources may be mobilized for health care provision. As a result of the
insurance scheme, utilization of health facilities will probably increase a
desirable effect if one considers currently prevailing underutilization in
developing countries. A part of these resources could then be used up to expand
access, for example, by increasing drug availability and purchasing extra
necessary medical equipment. Better quality of care will increase people’s expectations
of getting value for money in the case of illness, and will again enhance
demand for insurance (dotted feedback line).

 3. Effect on
the insurance scheme

 Assuming that effect 1 and 2 materialize, one
can imagine that new members will join the scheme and hence increase membership
enrolment. This could drive down the administrative cost of insurance provision
per member. Risk pooling is therefore enhanced as more people participate.
Consequently, risks become more calculable. Though the idea of rising demand
usually suggests rising prices, in this case it could result in reduced
premiums due to ‘economies of scale’. Lower premiums will probably once again
increase demand for insurance and coverage rates. Besides acting as an agency
that expresses the interests and needs of its members, the Community Based
Health Insurance can try to promote the use of preventive care and healthy
behavior. Health education and awareness of health problems would improve
public health outcomes and counteract cost escalation.

 

 

 

 

COMPARISON OF MEDICAL
& HOPITALIZATION INSURANCE SCHEME

When
it comes to medical and hospitalization insurance, you have many choices as
there are variety of different types of health insurance with different
features to consider when making your decision. This insurance is an important
coverage to have. Most people see this insurance as a necessity coverage that
can lead to a healthier life but still many cannot afford it. Shoot up
premiums, doctor bills, and prescription drugs prices have led to millions of
people unable to purchase medical and hospitalization coverage.

There
are pros of having medical and hospitalization insurance by having the
insurance gives you the opportunity to maintain or improve your health by
providing a low cost way to attend physician visits and buying affordable
prescription drugs if needed. First, it is cheaper and more affordable
insurance compared to other insurances. Some plans are flexible
as you can customize them to keep it affordable by eliminating services you
don’t need. It gives a member a cash payment upon a qualifying incident such as
an accident or critical illness. The plans include additional wellness benefits
such as telemedicine so members have access to doctor consultations via phone
or online video chat 24/7 at no additional cost. Moreover, the applications for
the insurance can be made any time during the year. If
you become seriously ill or injured, your health plan will cover emergency and
some or all of your surgery bills.

There
are also cons of having medical and hospitalization insurance. The
high premiums of individual health plans can make insurance unaffordable. The
policy can be confusing with wordy disclaimers, options and waiver information.
Some of the less expensive insurance plans have limitations on office visits,
high deductible amounts, and a predetermined doctor network. First, there is no
coverage of pre-existing medical conditions. Second, the benefits are tied to
specific incidences such as a hospital admission or doctor visit. Although,
there is no benefits for general illnesses such as diabetes or conditions such
as pregnancy as they are not covered by the insurance. The prescription drugs
may also have significantly restricted coverage.