Posted by BLee > 1 month ago | Report Abuse

Good summary..

Posted by speakup > 1 month ago | Report Abuse

actually the blame on hospital not insurance company

Posted by BLee > 1 month ago | Report Abuse

The Insurance company (ITOs) reason:
‘- the industry experienced an unprecedented cumulative medical claims cost inflation rate of 56 per cent from 2021 to 2023.’
My take: Last time the mentality was “buy insurance, hope no claim”. Nowadays, “buy insurance, must fully utilize it, if not, why buy??”

‘- advanced healthcare technologies and increased utilisation of healthcare services.’
My take: Insurance payor paid for “advanced healthcare technologies”, no matter use or no use!! Another problem is over-diagnosis. Each hospital admission will be like an ‘old car complete overhaul’ ??

‘- it was reported that the overall profitability of life insurance and family takaful funds has increased to RM8.4 billion in the first half (1H) of 2024, as compared with RM6.0 billion in 1H 2023 and RM3.2 billion in 2H 2023, respectively.’
My take: Meeting KPI?? Over profiteering??
Another reason (not in the article), insurance premium is pooling of all $ plus margin of profit; no risk of losing investment.??

Now awaiting my Insurance company to come up with a new premium invoice..due by the end of the month. Sigh

Posted by speakup > 1 month ago | Report Abuse

higher cost of medicine + higher wages = higher medical bill = higher insurance
so want to stop the rising insurance, go after higher cost of medicine

Posted by StarOfTheBull > 1 month ago | Report Abuse

Sometimes insurees do make claims for unnecessary treatments, these contribute to higher insurance claims, for example knee surgery.

Posted by DickyMe > 1 month ago | Report Abuse

Majority abuse health benefit provided by companies.
Some companies, especially GLCs provide health care for entire family.

Posted by Income > 1 month ago | Report Abuse

speakup
actually the blame on hospital not insurance company
22/12/2024 4:01 PM

?

You are correct!
The healthcare industry are profiting from this. Not insurance companies fault laaa

Posted by qqq47660 > 1 month ago | Report Abuse

Doctors in private practise and private hospitals have entitled mentality. No service mentality....doctors think they are the smartest when young and should be richest when old.

Posted by qqq47660 > 1 month ago | Report Abuse

Healthcare as a service.

Posted by qqq47660 > 1 month ago | Report Abuse

or health care capitalism?

Posted by qqq47660 > 1 month ago | Report Abuse

36000 rgt for a simple laser on the neck in a private hospital. How is that reasonable?

Posted by DickyMe > 1 month ago | Report Abuse

Laser torch can be bought for less than RM10.

Posted by qqq47660 > 1 month ago | Report Abuse

10000 rgt to the bone doctor and 26000 rgt for the rest....11 pages of itemised billings.