Cheapest Medical Insurance

Old Aug 8th 2018, 1:34 am
  #16  
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Default Re: Cheapest Medical Insurance

If your home country existing insurance covered worldwide or Asia you don't need to buy a Malaysia insurance.
Just bring the prove will do.
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Old Aug 19th 2018, 2:26 am
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Default Re: Cheapest Medical Insurance

Originally Posted by nanohits View Post
PM me and I will send the contact email and you can do everything online
Hi nanohits, Please send me the contact information also.

Regards,
Umesh
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Old Aug 20th 2018, 3:08 am
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Default Re: Cheapest Medical Insurance

Originally Posted by kiat137 View Post
If your home country existing insurance covered worldwide or Asia you don't need to buy a Malaysia insurance.
Just bring the prove will do.
Good point...some work and retirement insurance does have fairly good travel coverage...and some include an "expat" option. If you can convince the MM2H people that your travel coverage is sufficient to the time you will stay here (say 3 months) then that may be sufficient. Conversely, if there is a "foreign address" clause then you may be able to get full coverage on a reimbursement basis. Look if BlueCross/BlueShield Global Core (aka GeoBlue) is one such program included into some policies. Another might be BUPA.

I'm in the Catbird's seat myself...My retirement health PPO BlueCross insurance has a GlobalCore option. PPO- stands for Preferred Provider Organization and normally means you get reduced costs/fuller coverage at certain hospitals and doctors in their system. But that system only is in some US States. So I am technically "out-of-area" and they allow non-PPO providers at the same coverage levels. Since I have a foreign postal address I can use the GlobalCore system. They also have preferred hospitals but if you are 50miles from one of these or if there is an emergency you are again "out-of-area" and the reduced rates/fuller coverage still applies. Amazingly I will be reimbursed between 80-90% of cost after deductible and co-pay...that's for both emergency and elective. Plus standard checkups and exams are fully covered.

So check your employer/retirement insurance!

Malaysian insurance, of course, solves the immediate problem for MM2H. But if you are expecting travel coverage (outside Malaysia) you may need
to pay more for a supplementary plan.
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Old Aug 21st 2018, 1:45 am
  #19  
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Default Re: Cheapest Medical Insurance

Of course if you going to spend more time in Malaysia is advisable to buy a Malaysia local insurance because your home country insurance usually need you to pay up front after that only reimburse. If emergency happen, you will struggle finding cash to pay.
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Old Aug 24th 2018, 11:15 am
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Default Re: Cheapest Medical Insurance

Originally Posted by kiat137 View Post
Of course if you going to spend more time in Malaysia is advisable to buy a Malaysia local insurance because your home country insurance usually need you to pay up front after that only reimburse. If emergency happen, you will struggle finding cash to pay.
Well, you are allowed to withdraw from the Fixed Deposit for Medical expenses. And one can always resort to a bank-wire transfer in case of a quite expensive emergency. And how much local insurance will pay out in the case of an expensive emergency depends on what sort of coverage you are willing to pay for.
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Old Aug 28th 2018, 1:04 am
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Default Re: Cheapest Medical Insurance

Originally Posted by RedApe View Post
Well, you are allowed to withdraw from the Fixed Deposit for Medical expenses. And one can always resort to a bank-wire transfer in case of a quite expensive emergency. And how much local insurance will pay out in the case of an expensive emergency depends on what sort of coverage you are willing to pay for.

The process of withdraw part of your MM2H fixed deposit (Either 50k or 150k) is based on after you paid by your own then apply from MM2H center. After 3 working days MM2H department saw your payment receipt and related document, then only MM2H center issue a letter for you to go bank unfroze the 50k or 150k. Is not that you just go bank and said you want to withdraw for your medical expenses the bank can just unfroze for you on the spot.

Well, there are many types of insurance in Malaysia. If most of the time you're staying in Malaysia you can choose to buy the comprehensive insurance which cover your annual medical expenses up to 1 million Ringgit and you don't need to pay any money to hospital (unless you ask for something extra for example upgrade your room, food, and etc.) The comprehensive insurance comes with saving and investment scheme. That means if you continue pay for your insurance year by year, there will be some amount accumulate in your account. After certain of year, you may take back the full amount you paid for the previous year and yet you're protected.

Hope that my sharing will give some idea for everyone life planning in Malaysia. Cheers!
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Old Aug 28th 2018, 11:16 am
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Default Re: Cheapest Medical Insurance

Originally Posted by kiat137 View Post
The process of withdraw part of your MM2H fixed deposit (Either 50k or 150k) is based on after you paid by your own then apply from MM2H center. After 3 working days MM2H department saw your payment receipt and related document, then only MM2H center issue a letter for you to go bank unfroze the 50k or 150k. Is not that you just go bank and said you want to withdraw for your medical expenses the bank can just unfroze for you on the spot.
Yes, the medical withdrawel option is really not the one you choose. I guess everyone is doing either property or car to get the whole 150k out with one shot at Putrajaya. But don´t take the 3 working days to serious, call before you go to Putrajaya if the letter is ready
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Old Aug 30th 2018, 8:24 am
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Default Re: Cheapest Medical Insurance

Originally Posted by eCdD View Post
Yes, the medical withdrawel option is really not the one you choose. I guess everyone is doing either property or car to get the whole 150k out with one shot at Putrajaya. But don´t take the 3 working days to serious, call before you go to Putrajaya if the letter is ready

For above 50 years old participant who deposit RM 150k, eligible to withdraw up to RM 50k
For below 50 years old participant who deposit RM 300k, eligible to withdraw up to RM 150k

The withdrawal is based on how much you spend. Lets say you only spend RM 30k for your medical, you only can withdraw RM 30k after you paid the hospital.
3 working days is the standard time to wait for the letter. Agree on call before you go because sometime they might delay or they need further clarification from you in order to process.
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Old Aug 31st 2018, 9:52 am
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Default Re: Cheapest Medical Insurance

I'm wondering if you have local Medical Insurance if you are allowed to
a) use your Fixed Account to pay for the insurance premiums.
b) if Insurance pays then certainly you would not be allowed to withdraw from the Fixed Account. You could only withdraw for "non-covered" procedures or costs that insurance doesn't. Correct?
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Old Sep 5th 2018, 1:41 pm
  #25  
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Default Re: Cheapest Medical Insurance

Just forget this, for every withdrawel it is a big job to go and go to Putrajaya two times. The FD withdrawel is only suitable for car and house.
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Old Sep 7th 2018, 2:22 am
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Default Re: Cheapest Medical Insurance

Originally Posted by RedApe View Post
I'm wondering if you have local Medical Insurance if you are allowed to
a) use your Fixed Account to pay for the insurance premiums.
b) if Insurance pays then certainly you would not be allowed to withdraw from the Fixed Account. You could only withdraw for "non-covered" procedures or costs that insurance doesn't. Correct?

You may consider to use your bank interest to get a fully protected insurance. It only cost you few thousand per year for the comprehensive plan fully cover your accident, hospitalization, critical illness, with investment plan.

Of course you will not able to claim part of the MM2H Fixed Deposit if your medical is paid by insurance. The withdrawal of mm2h fixed deposit is based on the amount you spent. Not pre apply out before you pay.
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