Beacon Hospital: Young People Unaware Of Need For Insurance

Beacon Hospital Malaysia’s Consultant Clinical Oncologist and invited panelist for Axios International’s virtual webinar, Dr. Mohamed Ibrahim has highlighted doctors are not the only one who needs to educate patients on the importance of insurance, but it is equally the insurance players’ responsibility to educate patients.

The Malaysian healthcare landscape has evolved significantly over the last decade, bolstered by the Government’s versatile welfare schemes, investment in world-class health facilities and introduction of new technological interventions.

Speaking at the ‘Making Healthcare Access Sustainable: Enhancing The Patient Experience During And Beyond The Pandemic’ virtual panel discussion, it was shown that 36 percent of the population claimed that private insurance is unnecessary according to the National Health and Morbidity Survey (NHMS) 2019.

“Following the survey, the issue is that the 36 percent is probably healthy young people who think they do not need insurance and I think they are unaware of the treatment cost especially in the private sector,” Dr. Ibrahim added.

In the panel discussion, the panelists agreed that insurance players should be the one spearheading educating the public on the benefits of having a private insurance scheme.

“There is a need for insurance coverage especially in this Covid-19 outbreak as, not only doctors, are responsible for educating patients about the good of insurance schemes.

The insurance players need to play a role in this matter like creating a documentary for the benefit of insurance or having a celebrity to be a role model advocating the importance of private insurance,” he said.

Earlier in March, Life Insurance Association of Malaysia (LIAM) has highlighted that most life insurance companies in the country will extend financial assistance to policyholders who may develop side effects or complications resulting in hospitalisation from Covid-19 vaccinations.

LIAM Chief Executive Officer (CEO), Mark O’Dell said that several life insurance companies are also offering cash relief programmes for side effects of Covid-19 vaccine under their respective Covid-19 Vaccine Fund/Medical Assistance Programme.

Recently, Great Eastern Life Assurance (Malaysia) Bhd pledged RM1 million to the Covid-19 Vaccine Fund on March 2nd and Prudential Malaysia will be providing RM500 cash relief for hospitalisation due to adverse effects from immunisation (AEFI) within 7 days after an approved Covid-19 vaccination.

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