STAYING ALIVE
May 17th 2011 15:46
:
HEALTHCARE and HEALTH INSURANCE
One of my major concerns about retiring and moving to Malaysia was the quality and availability of healthcare and health insurance. One of the requirements for a MM2H visa application is that the applicant must have insurance, but it doesn't specify what kind. Many people just take out a simple short term accident policy, which satisfies the requirement. I conducted months of research into the best health insurance policies.
I discovered that healthcare in Malaysia is only a fraction of the cost in the US, while maintaining a high level of quality. Malaysia has a thriving medical tourism industry serving all of Asia. There are numerous top notch private hospitals in the country staffed by very qualified doctors trained in the US, the UK and other western countries. There are also numerous government hospitals serving the Malaysian population, which charge minimal fees. Of course the private hospitals charge more and are the favorites of expats and foreigners. As in any country the more money you have the better your healthcare.
There are numerous clinics where a doctor's visit will set you back about 50RM (about $16 US). You do have to be a little savvy as some of the doctors are not that well trained and will prescribe antibiotics for everything from a hangnail to a common cold. There are also many convenient pharmacies and drug stores in every neighborhood. The pharmacy I frequent is excellent. The pharmacist is very knowledgeable and professional. You really don't need a prescription here to buy prescription drugs. Usually you can tell the pharmacist what is wrong with you and what you need. Since I have been in the medical field I am somewhat more familiar with my ailments and medical history, it is easier when I need drugs. Once again the costs of the drugs is only a fraction of what you would pay in the US, even with prescription drug insurance. I would recommend to anyone moving here to form a close relationship to your local pharmacy. There are also many drugstores here, but they sell very few OTC medications, as compared to the US.
Once I researched the quality and availability of healthcare I researched health insurance. Like every American I contributed to Medicare with every paycheck. Unlike every other American, because I live abroad, I receive absolutely nothing from Medicare. Just another example of how Uncle Sam screws American citizens living abroad.
I discovered I had three options regarding health insurance. One was to purchase International Health Insurance, the other was to purchase Malaysian health insurance and the last was not to have any at all. International health insurance is outrageously expensive. It is stange that healthcare costs are very low compared to the US, but international companies charge rates based on US costs. I don't need 5 million dollars worth of coverage to cover costs of $50,000 US.
I settled on a hospitalization policy from a Malaysian health insurance company that more than meets my insurance needs. I pay less that $100 a month compared to about $300 to $400 from international companies. The only things not covered are doctor's visits, which are so cheap that they can be paid out of pocket. I wasn't brave enough to go without insurance, as some of my friends do. I wanted the security of a health insurance policy. One also must remember that most retirees under MM2H have a fixed deposit of approximately $50,000 which also can be used for medical purposes. I also have a bank account which I keep as an emergency medical account. Worries and concerns over my health and healthcare do not bother me. I have my gym membership and my insurance card and generally lead a healthy life.
I discovered that healthcare in Malaysia is only a fraction of the cost in the US, while maintaining a high level of quality. Malaysia has a thriving medical tourism industry serving all of Asia. There are numerous top notch private hospitals in the country staffed by very qualified doctors trained in the US, the UK and other western countries. There are also numerous government hospitals serving the Malaysian population, which charge minimal fees. Of course the private hospitals charge more and are the favorites of expats and foreigners. As in any country the more money you have the better your healthcare.
There are numerous clinics where a doctor's visit will set you back about 50RM (about $16 US). You do have to be a little savvy as some of the doctors are not that well trained and will prescribe antibiotics for everything from a hangnail to a common cold. There are also many convenient pharmacies and drug stores in every neighborhood. The pharmacy I frequent is excellent. The pharmacist is very knowledgeable and professional. You really don't need a prescription here to buy prescription drugs. Usually you can tell the pharmacist what is wrong with you and what you need. Since I have been in the medical field I am somewhat more familiar with my ailments and medical history, it is easier when I need drugs. Once again the costs of the drugs is only a fraction of what you would pay in the US, even with prescription drug insurance. I would recommend to anyone moving here to form a close relationship to your local pharmacy. There are also many drugstores here, but they sell very few OTC medications, as compared to the US.
Once I researched the quality and availability of healthcare I researched health insurance. Like every American I contributed to Medicare with every paycheck. Unlike every other American, because I live abroad, I receive absolutely nothing from Medicare. Just another example of how Uncle Sam screws American citizens living abroad.
I discovered I had three options regarding health insurance. One was to purchase International Health Insurance, the other was to purchase Malaysian health insurance and the last was not to have any at all. International health insurance is outrageously expensive. It is stange that healthcare costs are very low compared to the US, but international companies charge rates based on US costs. I don't need 5 million dollars worth of coverage to cover costs of $50,000 US.
I settled on a hospitalization policy from a Malaysian health insurance company that more than meets my insurance needs. I pay less that $100 a month compared to about $300 to $400 from international companies. The only things not covered are doctor's visits, which are so cheap that they can be paid out of pocket. I wasn't brave enough to go without insurance, as some of my friends do. I wanted the security of a health insurance policy. One also must remember that most retirees under MM2H have a fixed deposit of approximately $50,000 which also can be used for medical purposes. I also have a bank account which I keep as an emergency medical account. Worries and concerns over my health and healthcare do not bother me. I have my gym membership and my insurance card and generally lead a healthy life.
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