For those of you who are new, medical insurance or a medical card is a type of insurance that covers the cost of your hospitalisation and surgical fees. In the event that you get admitted into a private hospital, this medical card functions to cover your hospitalisation, surgical and other treatment costs.
Full disclaimer: I am a MediSavers Membership Advisor and I get compensated when you register under me.
What is MediSavers Insurance
MXM MediSavers is a health insurance membership program operated by MXM International. Basically, by signing up as a member of this program, you get a medical card.
The underlying principle is the same as getting a medical card from any other insurance providers in Malaysia. The only difference is the structure. MXM International is the group that markets and distributes this medical card, but the underlying policy is underwritten by Lonpac Insurance Berhad, which is a big Malaysian insurance company owned by Public Bank.
Why does MXM sell it as a membership program? I believe it’s because of the marketing structure whereby members can refer others to the program and earn commissions without being an insurance agent.
Unique Points of MediSavers
Here are a few key benefits of MediSavers which in my humble opinion sets it apart from other medical cards.
High Coverage Per DISABILITY
MediSavers provide coverage per disability. This is pretty unique as you are covered per illness instead of only based off an annual limit.
For e.g. Mr. A buys MediSaversVIP 400 which provides RM160,000 PER disability with an annual limit of RM480,000 with NO LIFETIME LIMIT.
Mr. A unfortunately gets a heart attack and needs RM50,000 in hospitalisation costs. This is deducted off the disability category of ‘heart attack’ and all other categories of illnesses still remain at full coverage.
For even higher coverage of up to RM1 million and more per disability, Mr. A can even opt to get a top-up called the Super Protector which gives an additional RM1,000,000 in coverage for a total of RM1.16 million per disability coverage (for MedisaversVIP 400 – Super Protector)
10% automatic increment in benefit limits every 3 years
Medical inflation is no joke. Due to increasing costs and ever-advancing medical technology, medical insurance costs are always on the uptrend, while benefits remain the same.
Medisavers guarantee an increase of 10% on Room & Board and Coverage per Disability every 3 years.
No Limits on ICU Stay
I think virtually every medical card or insurance out there has a cap on the number of days on ICU stays, for e.g. 60, 120 or 180 days. MediSavers has no limit on ICU stay (but of course subject to your benefit limit).
Free Annual Blood Screening Package
As a member of MediSavers, you get free annual blood screening which includes 52 types of tests as well as cancer markers from Pathlab.
MediSaversVIP
The basic package is as below:
- MediSaversVIP 400
- MediSaversVIP 250
These products are valid until 30th June 2115 – more than enough duration for 99% of people.
MediSavers Hospitalisation & Surgical Benefits List
Top-Up Plans
Super Protector
- Additional RM500 on top of R&B
- Additional RM1,000,000 coverage on top of diagnosed illness
- No Annual Limit
- No Lifetime Limit
Criteria for activation:
- Top-up coverage will kick in when the you have utilised RM50,000 out of your basic plan coverage
MediBooster
MediBooster is an additional healthcare membership program that is designed to add on additional benefits on top of ANY insurance policies. This is not limited to MediSavers cardholder only.
Let’s say you already have a medical plan purchased from a family member / friend and you feel it’s not so good to cancel. But at the same time, you are worried your coverage is not enough. With Medibooster, you can add additional coverage as below:
- Additional RM3,300,000 annual limit
- Additional RM1,100,000 per disability coverage
- Additional RM330 Room & Board
- 10% auto-increment every 3 years
- Guaranteed renewal until 2115
- NO lifetime limit
Criteria for activation:
- Member must have utilised either RM50k, RM100k or RM150k of their existing policies (different deductible depending on the plan you choose)
Things to Take Note of
- Policy waiting period of 30 days – When you buy into the membership, there’s a waiting period of 30 days before you are covered UNLESS you are unfortunately involved in an accident, whereby you will be covered.
- Exclusions & loading – please DECLARE every illness your have already been diagnosed and be truthful during the submission process. This is to prevent any unpleasant experience down the road when your claim is denied due to withholding of crucial medical history. Some conditions or occupations also might involve an extra loading fee. For e.g. if your BMI is high, there’s an extra 25% loading on top of the basic premium.
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