Here’s Why You Need To Plan For Your Healthcare As A Gen-Z
In 2020, Malaysians ended up paying a lot of their medical expenses out of pocket (RM23.1 billion to be exact!) despite having access to government health services.
The skyrocketing treatment costs highlight the need for young adults to have a good medical plan as early as possible to avoid having financial worries due to illness. You might think to yourself, “I don’t need medical protection. I’m still young and healthy.”
Well, think of it this way, you might be able to afford an RM50 fee when seeing a doctor in a private clinic or RM200 for a specialist consultation. But what happens if you have to pay RM4,000 to RM20,000 for medical treatment or surgery?
How expensive are medical treatments in Malaysia today? Here’s the average cost for these common treatments.
- Angiogram: RM15,000 – RM45,000
- Kidney Stone Surgery: RM9,000 – RM40,000
- Knee Replacement Surgery: RM25,000 – RM80,000
- Spine Surgery: RM40,000 – RM55,000
Source: The Centre
With the cost of medical treatment expected to rise in 2022 and beyond, can you afford to keep up with the medical costs in 5, 10 or 20 years ahead?
And with medical inflation happening at a double-digit rate over the past few years, you can expect healthcare and treatment costs to rise significantly.
So, while you might have a medical protection plan today that can cover the necessary costs, it may not be enough to cover your medical expenses in 10 years if treatment costs continue to rise.
What if you can get a medical plan that grows with you to keep up with medical expenses?
Imagine if your medical plan comes with:
- Guaranteed auto-increasing coverage (RM100,000 to RM150,000 annually). A coverage that builds up to RM15 million.
- Extensive pre, during and post-hospitalisation coverage.
- Up to RM1,000 annual rewards for preventive care services when staying healthy and no claims are made the previous year.
PRUValue Med Booster and PRUMillion Med Booster does all of that and more!
Still not convinced?
Then let us take a journey with two young adults – Paul and Ken- as they take two different paths in managing their healthcare.