With rising medical costs and inflation, one might wonder if having one medical card is enough. Medical cards are used to help cover healthcare and medical expenses such as hospitalization and surgical costs, medications, doctor consultations, care providers, and sometimes dental expenses.
Upgrading your health insurance policy offers enhanced benefits but comes with conditional rules you need to understand. From waiting periods and premium adjustments to grace periods and the importance of tailored coverage, this guide outlines five key considerations to help you make informed decisions about your insurance upgrade.
Bank Negara Malaysia (BNM) has acknowledged concerns over health insurance repricing strategies as rising medical costs and premiums strain policyholders' finances. With tough choices between higher premiums or reduced coverage, the coming months may see increased lapsation of policies, greater reliance on government healthcare, and an overburdened medical system. A sustainable resolution remains a long way off, leaving policyholders and regulators grappling with a complex and pressing crisis.
