Nowadays, more and more people are opting for governments hospital to:
Manage their out-of-pocket medical expenditure
Avoid overuse of their medical coverage limit
Insurance companies review the existing policies periodically to ensure its sustainability against medical inflation. This will usually affect your coverage and the price of your premiums.
What can you do to
Control Your Medical Cost?
Here are 4-ways in which you can help control your medical costs
1. STAY HEALTHY
It really is as simple as that. Eat cleaner. Invest in your body. Exercise as much as you can. Better health today means less costly treatments tomorrow. By keeping away from unhealthy habits, you minimise your chances of contracting critical illnesses when you’re older.
2. TAKE CARE OF YOUR ELDERS
In general, elderly members of your family require more medical care. Rather than wait until they contract a serious illness, it is better to plan and go for regular health checks. This way, you can monitor and have better control of their health, especially if they have a chronic illness like diabetes.
The 2018 Malaysian National Health and Morbidity Survey (NHMS)[1] reported that 15% of those above the age of 60 had fallen at least once over the course of 12 months. One in two suffered injuries, while one in five were hospitalised. Thus, it is crucial for us to provide support tools such as rails and canes, feed them nutritious meals, and promote activities that can keep them healthy, strong, and mobile, and therefore less prone to falling.
[1]: https://iku.moh.gov.my/images/IKU/Document/REPORT/NHMS2018/NHMS2018ElderlyHealthVolume2.pdf
3. VISIT PANEL HOSPITALS
If you have medical coverage, do visit your insurance provider’s panel hospitals. Insurance providers will regularly review the hospitals’ service compliance and preferential rates without compromising the quality of care.
As a consumer, all you have to do is understand the necessity of the recommended tests, procedures and prescriptions, even though they are covered by your medical plan. Ultimately they will be translated back to the overall medical inflation rate and the adjustment of premiums.
4. PLAN AHEAD WITH MEDICAL INSURANCE
Let’s face it, if we’re not prepared for them, medical costs can leave us in financial ruin.
Plan ahead and think about your family’s health needs:
ANNUAL LIMIT
DEDUCTIBLE
MORE COVERAGE BENEFITS
Choose the right medical plan based on you and your family’s needs & affordability
Never forget to review your policy regularly with your insurance agent. This will ensure that you are properly informed of your plan and its limitations, especially its sustainability into your golden years. By keeping informed, you will also live with a lot less worry knowing that you and your loved ones will be taken care of in case of an emergency.
Stay protected even throughout your golden years.
Want to ensure that you have the right protection?
Need to review your policies?
Reach out to your trusted Allianz Life Insurance Agent today. We’re here to listen, support, and clear any doubts you have about your insurance, because your peace of mind matters to us.