Letter to Editor
RECENTLY, with the spiralling cost of private hospital charges and medical insurance premiums, the Federation Of Malaysian Consumers Associations (FOMCA) had rightly called for a “right balance between profit and patient care” so that greed is not given a free hand.
However, with matters now boiling over, shouldn’t the government intervene to safeguard the welfare of its own citizens?
Strangely, while private healthcare costs have been gradually rising over the years, why is it only now, after enjoying great fortune, that the insurance industry has started to sharply raise its medical insurance premium, especially for those in the senior citizen bracket?
Given the suspicions, shouldn’t the Health Ministry and Finance Ministry urgently investigate and identify possible “unhealthy practices” in the two industries so that remedial and punitive measures can be instituted?
For example, is there an alleged widespread tendency in the private healthcare services for doctors and specialists to close an eye to the unfair “manipulation” of the patient’s available “insurance coverage limit” to maximise profit for the hospital?
Similarly, on the insurance industry side, is it part of their marketing strategy to ward off competition by offering excessively generous and attractive “annual coverage limits” to their high net-worth clients – some even higher than RM1 mil! But doesn’t that reek of over-insuring?
While it may drive sales and bring in higher premium (profit), in most cases are such high limits warranted?
In fact, won’t it only allow unscrupulous private hospitals to “squeeze” the ample limits for maximum profit for their business? A lucrative win-win situation for both parties!
Furthermore, could there be an unethical “business tactic” discreetly employed by the insurance industry to drastically hike the premium for those in the medically-vulnerable, such as 65-years-old and above, hoping that it will “compel” some of them to give up their policies?
So that the insurance companies need not worry about paying out excessive claims to that high-risk group?
In view of this, isn’t it about time the Madani government roots out such possible unhealthy practices in order to address the runaway medical inflation rate in the country, and the immense financial hardship it’s causing the people – especially retired senior citizens who are now left helpless? – Nov 15, 2024
Jeyakumar Joseph (JK Joseph)
Ayer Keroh, Melaka
The views expressed are solely of the author and do not necessarily reflect those of Focus Malaysia.
