What is a medical card?
A medical card is very useful these days,
It widely known as a “debit card“, which only can be use in Hospital to settle your bills.
However, we all know that in our life is full of unexpected events such as imagine a mosquito can cause you to be hospitalize due to Denggi or a piece of delicious satay will ended you up on hospital bed due to food poisoning.
Life is uncertain in many ways, but question is “Do you prepare enough money for this uninvited events?” . The hospitals will only recognize few payments.
- Credit cards
- Company Medical cards
- Self Medical cards
Here comes the question of your life.
1.Is your current medical card sufficient for surgery ?
2.What’s your credit limit balance?
3.How much are you entitle for room & board per day?
4.How is the payment like fully claimable or reimbursement basis?
5.How much is my company’s medical benefit covers me?
So many questions unanswered, so check with your policies document.
Let’s go in details in to each and every benefit
It’s always a hot topic for each and everyone in the town talking about medical fees is increasing every year, issue about private hospital overcharged, poor services provided by Government Hospital and etc. That’s the reason nowadays most of us are aware about the important of medical card. But which type of medical card suit us the most? We shall look in to the benefit provided by the medical such as the yearly credit limit. Most of the companies do provide a min 50k yearly credit limit but some of the medical card will have restriction on the usage such as the outpatient cancer treatment which you can claim up to a maximum amount of 10k to 30k, kidney dialysis which allow patient to claim 10k a year. Look in to this two restriction, as a smart consumer we knew that treatment for a kidney patient and a cancer patient nowadays always cost a bomb toward the family members. Even thought company provide high yearly limit but they put in a lot of restriction in medical card.
Secondly, some of the medical card’s premium do increase price according to market factor such as inflation, medical cost increase, company meet high claim ratio over the past few years, client’s age increase is the factor that cause premium to increase .Having a standalone medical card, client will encounter with a few risk, such as the company will increase the premium every 2-5 years based on the age band , if client forgotten to pay their premium on time the medical benefit will lapse in 30 days and without the client notice if anything happen it will not be claimable.
Thirdly, as mention in the newspaper cutting, a lot of people out there always have a mindset thinking that purchasing a medical card is a waste of money because they do not wish to claim from the medical card, since they do not do claim from medical card, they are wasting their money paying for the premium every year. That is why Prudential is always listening and understanding. They have come out with a medical card that rewards client who stays healthy and give them a hand when they need to do admit to hospital. Get rewarded when you stay healthy? True? Yearly reward will be given to those clients who always stay healthy! It’s call No Claim Bonus, Min reward RM100 up to a maximum RM500.
Lastly, when purchasing a medical card it is advisable to get a medical card that attached to the investment link to avoid increase of premium. Do not purchase the “cheapest” medical plan which “cheap thing doesn’t come good, good thing doesn’t come cheap. Buy something that suits your needs instead of buy something because it is cheap. Take note on the yearly and life time credit limit, restriction and renewability.