Health Insurance for American on Medicare

Hello Bill,
Have you received any info on health ins yet? I am in the same boat. I am 66 and have Medicare, but did not know I could have outside the country coverage.
I do have MM2H. I think this would ease your mind for visas if you decide to stay in Malaysia long term.
please let me know if you have any news on health insurance and I wish you the best health and longevity.
Raya

Hi There

You need to get private health insurance you will be paying more than RM: 2000 plus according your age.
Private health insurance is good as I was getting when I was staying in Malaysia and if you are hospitalized
there are good hospitals.
Mr Lee 0192869001 was my agent and he would help you all your en-queries about this matter. Tell him  I Halit karaca gave you his mobile number. I was there last 18 years now I am back to Melbourne.
Very important to know that: You will get VIP treatment all the time providing to get to know right people to fix the essential things for you.
You need to have right people to help you or advice you while you are in Malaysia,
Right mechanic
Right Real estate agent
Right plumber
so on so forth.
Otherwise some of the people(technicians etc..)  will see you as a cash cow as they have the impressions that every foreigner is a rich man.

Good luck

Hello there,
Thank you very much for all the important feedback and phone number for an agent. I will try to call and inquire.
I do live in Langkawi with one no so good hospital and mediocre medical service. I hope not needing hospitalization any time soon, but you never know.

I also understand about your comment on finding right workers. I have found a jack of all trades here who is very honest and is handling all my fix ups, thank God.

What business where you involved with 18 years here in Malaysia, if I may ask?
My son is now in Melbourne in a temporary consulting job. It is always good to have feedback from others who live in the same area.

Best regards,
Raya

Hi I use axa insurance but basically as you get older you have to self insure (by saving) as premiums shoot up with age. Basically stay away if unhealthy if 60+.

From langkawi best to go to Bangkok. Bangkok has best hospitals in Asia. Better than kl.

Hello and thank you for your useful comment. I am actually 66 but in a very good health. but you never know when emergencies arrive.
So, is it best to stay away from these expensive premiums and save up just in case?
Bankok? I never thought about it. That is very comforting to know they have good hospitals. Is there a way to find out which are better or is there a list?
LGK hospital is very limited in service and doctors:(
thanks again for your feedback.
Raya

What I meant was is younger people need to save for medical expenses in old age. I recommend at least 5% of income from age of 30 (use stock trackers/FDs mixed) plus obviously pay for insurance. One way of reducing insurance costs is to look for larger excess policies. The idea is that you are planning for "bankrupt cover" ie you pay the small stuff but are insured for a heart attack.

Obviously as you get older you get less insurable! One thing I miss is the NHS in England. What the British never know that it is one of the most efficient in the world if not the most efficient. It means everyone gets a decent cover from tax on a very socialist basis with the young subsidising the old, But it's cheap - much cheaper than the bloated and highly inefficient American system where tens of millions have no cover and suffer third world like medical conditions. In Asia it is the family that cross subsidise each other.

Malaysian health insurance policies tend to cover just hospitalization. If you want primary health care and ambulatory care you need to look at a separate policy. If you do get hospitalized in Malaysia you usually have to pay an amount up front before they operate or treat and then claim this back from the insurer.  Some larger insurers have 100% coverage and pick up this kind of tab, so look out for them.

thanks a lot for this helpful advice. I be sure to look out for these imp considerations.

The 'medical card' as term by locals will allow the insured to get treated at their panel clinic/hospitals in Malaysia based on the agreed amount being insured.

Whenever people shop for a medical card, mostly people are incline to only look at the cost and the coverage being offered while forgo some of the most important aspect, which is the policy contract.

Do take the time to study the contract and in insurance, anything that sounds too flowery we need to raise our alarm to inquire more. One of the most important aspect is the renew-ability. For example, plans that are renewed annually vs life insurance with medical rider.

Most of the plans that are annually renewed are port-folio renewal whilst plans with life insurance with medical riders. Under the port-folio renewal, if the claims are getting too excessive, it gives the insurer the right to remove the product from the market but they are required to honor the coverage until the end of the term (which is one year).

Removing of a product from the market will means that should you need to get covered the next year, you will be subjected to undergo the health check as you are buying a new product. This is not a problem if we are still healthy, and if not the coverage may be declined.

Some insurer also have dodgy contracts with "Alteration Clause" whereby if the claims gets too much, it gives the insurer the right to change the benefit structures of the insurance plans by giving the client a 90 days written notice. Do look out for the word "Alteration Clause". Do not be surprise that it exists in some of the top insurer in Malaysia.

The Malaysian class health insurance policy does not cover dental (unless it was necessitated by an accidental injury)/cosmetic surgeries. This is across the board for all insurer in Malaysia as it is regulated by Bank Negara Malaysia.

The costs for dental is rather cheap though. Do read on the "Exclusions" of what is not covered which is available in most of the insurer's brochure. Pre-existing/congenital illness is not covered.

There is also a 30 days "Waiting Period" for common ailment like flu and fever. There after, there is also another 120 days for "Specified Illness". For accidental cases the coverage is immediate upon policy acceptance.

The last entry age for anyone to get health insurance (which is able to provide cover till the age 100) is before your age 70 next birthday. The most important factor that the insurer consider is the health status of the person being insured prior to approving of the insurance.

Of course in any insurance, you are required to declare albeit fully your health status, risks involve (for example smoker vs non-smoker), occupation (manual labor vs office desk job), any prior hospital admission/history, even family history. Failure to declare fully (especially on the health portion) may render the policy null and void.

The bill will be paid directly from the insurance company to the hospital except for small hospital deposits, pre & post hospitalization and outpatient claims which is based on reimbursement basis.

Do note that as a foreigner your cover is only applicable in Malaysia. Treatment must be sought in Malaysia. Should you need to travel for a short duration, you'll need to get travel insurance with medical.

However, as a local buying a Malaysian class policy, coverage for overseas is also limited to 90 days. During that 90 days, they will have to pay and with the original receipt claim from the insurance company when they return to Malaysia. After the 90 days, they will have to get the treatment in Malaysia.

Edit: I forgot to mention that #Nemodot is right. If possible look at plans with the highest amount of Deductible (or excess) in order to save on insurance costs as insurance is a business of risk transference and having lesser risk to the insurer brings down the insurance charges.

It is not everyday that we need to go to the hospital for treatment and of course by having a full claim sounds good but in fact you are already paying for it via a more expensive insurance charge.

TO: rostevenung

Much thanks for your very useful, informative, and detailed reply.  It is very much appreciated and you were most generous to make this contribution to the subject.

You can having the expactrate medical insurance which is worldwide coverage 24 / 7.this is specially design for MM2H/ frequent travellers.

auyong73 wrote:

You can having the expactrate medical insurance which is worldwide coverage 24 / 7.this is specially design for MM2H/ frequent travellers.

I have a relative which that kind of policy but she pays USD7000 a year for major events only. Is that what you mean?

Im not sure a person 60+ would even be accepted in a local insurance plan, most end at 60.

The main local ones are AXA, AIA, and Prudential.

Yes, Medicare is for 60 days and same with Blue Cross. I wish Blue Cross would offer an expat policy that is for foreign doctors only. It would save tons of money for the company and expat. Americans need to petition them, in theory its possible for offer such a thing.

Most local insurer specifically Prudential still accepts coverage until age 70 provided that the person is still healthy and insurable.

If accepted, it is able to be covered until age 100 (subjected to the premium increase by age band of course)

I know this is an old thread and sadly I doubt there is improvement for the 60+ Medicare expat as to whats available in Malaysia. However there are still useful strategies.

First, as Nemodot rightly said, save money for medical care in which you plan to pay cash.  That plan involved saving from an earlier time in life but even today you can start saving anytime by putting aside income into an account for medical. Figure that a hospital procedure will cost RM10K-20K so always have at least that hidden under the mattress and you dont touch it.

The next strategy involves the US. Leave Original Medicare alone and for the Supplemental, you can take a Plan G with AARP which costs about RM750 a month. The  AARP option lets you toggle between Plan G and Plan K which is only about RM160/mo. Why would you? When you are in US, you have Plan G active; when you go out you switch to Plan K and use the savings to fund your Malaysia account without wasting premiums youre not going to use. I had a High-F because it covered foreign expenses but now in US, I moved to Plan G to have very low deductible and keep the option of toggling to Plan K if I go back to Malaysia.

The next strategy is to have the most minimum insurance Social Security will allow and plan to pay cash in Malaysia for small jobs. When a big event like major surgery is recommended, get on an airplane and go back to US for it.

Malaysian insurance is sophomoric and rife with problems. Among them, pre-existing conditions are excluded from the policies AND, if you get on insurance and then have a problem whether its a broken bone or liver/kidney/heart etc episode, all those systems become excluded on the re-newal policy until one day you literally have no insurance at all. Example, today you get bronchitis and are treated and well. On next years policy, the entire respiratory system is excluded from insurance. Read the fine print in Malaysia policies and you too may find its worthless -- and that assumes a 60+ expat can even get on with a company as a new customer in the first place. Why? Because by the time one is 60 or 70, he/she has piled up a lot of medical problems and even if those were treated and you were done with them, they all get excluded so whats the point of even trying to apply with a company? Insurance in Malaysia is really geared towards children who are perfectly well and not expected to make any claims for a very long time.

There are two bottom lines to this. If you are old, sick and poor, youre in a lot of trouble. GoFundMe? Second, for now Malaysia is still among the cheaper places for medical care. USA is highest, Mexico is lowest, Japan is in the middle. IT COULD BE that the poorer expat cant simply choose where they would like to live but where where they can actually manage their medical which will become the No.1 life problem going forward.

@cvco

wow I never thought of it like that.  I have no insurance and am 64 but no health problems either, yet.  I travel around South East Asia and just hope I don't get sick.  But at times I do use travel insurance just in case. 

Digitarius, like I always say in Malaysia, dont get sick and youre home free. Do everything to stay well, keep illnesses contained at the street clinic level and have a Plan B for emergencies. Eat good food, take vitamins, walk a lot, keep weight down below average, end sugar.

Forgot to mention about local insurance, if the applicant doesnt meet the asian guideline for height and weight, you pay a lot more. Over 150lbs is obese by asian standards and thats what they use, not the western standard of higher weight and height.

@cvco ending sugar will probably not happen anytime soon.  I've been addicted since I was a teen and still never had any serious health issues from it.  I look at it this way.  Our bodies are meant to get old and die.  Cutting back on things you love, especially at an older age, isn't going to add much time to this short life.  The average age of a man is 75 and 80+ for a woman.  So if you're a man in your 60"s cutting back on things you love now won't prolong you life but by a day to two.  Nah I won't give up on stuff I love.  Long as I remain healthy, and I have this far along, I'll stick with sugar hahaha.  Thank GOD I've never had any serious illness and I think that's partly because I believe in all things are legal, as far as eating is concerned, but moderation is the key. 

Digitarius,

I do understand old habits die hard even on a good day and I wouldnt presume that its OK to tell anyone how to live anyway. Just saying that escaping medical costs is a really good thing to strive for -- how ever it can be done!