Breaking Down the Basics of a Medical Card

It’s a situation that we never want to find ourselves to be in, but accidents happen. Whether you fall sick or break your arm, we need to prepare ourselves for the unexpected. This is where a medical card comes in. Depending on your policy, medical cards can provide access to a range of cares and treatments. Most importantly, the payment will be covered by your insurer. With various benefits to offer, what else does it do? Today, our article will break down the basics of a medical card.

1. What are the benefits of a medical card?
You’ll be surprised by the advantages of your medical card. In the event of unexpected illness or injuries, any basic medical card can reimburse medical costs. It covers hospital room cost, surgical fees, pre-examination fees and investigations as well as outpatient treatments. Since medical costs increases as we get older, it is always worthwhile to get basic medical protection as soon as possible for yourself and your loved ones.<

2.  What do deductibles mean?
A deductible is the amount paid by the customer to cover their medical costs. When a customer has paid their share, the insurance company pays the rest. Let’s say the total claim comes up to RM1,000 with a deductible of RM100. The customer will pay RM100 from their own pocket first. Then, the insurance company will settle the remaining cost of RM900. Generally, the higher the deductible, the lower the premium costs would be.

3. What is the difference between annual and lifetime limits?
You might have seen annual or lifetime limits in your policy. What does it mean, anyway? Any policy with an annual limit can only claim a maximum amount from their insurer in any given year. A lifetime limit is the total claim that your insurer will cover for as long as you live, and it depends on the limit allowed in your policy. The best medical plans do not have any annual or lifetime limits.

4. What is the difference between a panel and non-panel hospital?
We’re all familiar with these terms, but there is a difference between the two. Panel hospitals are a group of hospitals that have partnered with your insurance company to provide a seamless onboarding experience. You can even spot your insurance company representative in these hospitals. Generally, panel hospitals will accept your medical card. Then, the claims will be paid directly by the insurance company to the hospital. So you don’t have to worry about upfront payments. To utilise this benefit, remember to check the list of panel hospital on your insurer’s website or from your insurance agent.

What happens when you’re admitted to a non-panel hospital instead? Since these hospitals are not part of the panel listing, you need to pay the medical bill from your own pocket first. Then, fill out the forms and submit your claim to the insurer for reimbursement consideration. In some cases, it might not be paid in full. That’s why it’s important to get your medical treatment from your panel hospitals.

5. Will the insurance or takaful provider cover every health expenses?
Every insurance or takaful providers have different product variations. Therefore, it’s important to check if your insurer covers certain medical costs and treatments. It is always wise to read the details and understand the benefits of your policy. Remember to ask your provider if the medical procedure is claimable. If you’re confused, chat with a qualified insurance agent. He or she can explain your coverage in detail and also assist with claims submission.

6. What is the difference between cashless and reimbursements?
Some policies offer a cashless option, while others use a reimbursement method. The best thing about cashless admission is easy access to panel hospitals without worrying about money. Reimbursement is no different except you need to pay the medical bill first before filing for reimbursement to your insurer.

7. What is the purpose of the guarantee letter?
If you need serious medical treatment, a guarantee letter from your insurer is what you need. In a nutshell, a guarantee letter is a confirmation from your insurance company that the medical cost will be covered by them. When you have this letter, you can utilize cashless admission at any panel hospital.

8. What information should I disclose to the insurance agent and company?
Purchasing a medical insurance policy usually requires you to disclose and declare your medical condition. It includes your pre-existing conditions, past illness, occupation, hobbies and family medical history. Depending on your age, you may be required to disclose the results of recent medical checks or in extreme cases, you may need to share your medical history and go for additional medical examinations. .

Understanding the basics and benefits of your medical card can be overwhelming. However, having awareness is important to maximise the benefit of it. More often than not, awareness comes from discussing at length with a knowledgeable Insurance or Takaful Agent. Regardless of your healthcare needs, a medical card might just make your next hospital trip easy and convenient. To find an experienced and qualified Insurance or Takaful Agent, head over to GoInsurans Malaysia and start looking for one now!

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