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  • Medical Repricing and How It Affects You

    Medical Repricing and how it affects you
    mobile
    Chart

    Did you know?

    • We're likely to experience an increase in medical costs every year1 due to medical inflation
    • The inflation rate of medical costs is expected to be double-digit (estimated to be 12.7% for 2017)2, in constrast to the 2-4% annual inflation of general consumer good prices in 2016-20173
    • Our medical inflation is third highest among Asian countries after India's at 14% and Indonesia's at 13.1%2

    What's causing the rise

    in costs?

    tired and sick worker
    Senior Citizen
    Doctor
    Kad Medical

    What does this mean

    For all of us?

    • We will be paying more for healthcare in the future
    Medical Card
    • Medical insurance premiums will also be adjusted to meet this increase
    • More people may opt for government healthcare providers
    Smartphone with red screen and plus symbol

    What is AIA's Role

    In Medical Inflation?

    As a healthcare insurance provider for Malaysians, AIA is commited to ensuring that the medical needs of our customers are always met and accounted for.

    That is why we:

    Diagnosis doktor
    • Regularly review our medical insurance plans against current medical costs in the market
    Doctor's diagnosis
    Hospital
    • Work closely with networks of preferred hospitals and healthcare providers for the best treatment and prices
    Stetoskop
    • Consistently review efficiency of medical services and procedures by healthcare providers
    Stetoscope
    Smartphone with aia logo
    • Constantly improve operational efficiency to provide better customer experience, claims processes and control over your claims via the MY AIA portal and app
    All to ensure that you, our customer, have sufficient coverage for quality healthcare. Often times there is a need to readjust insurance premiums to ensure our customers coverage can be sustained.
    komputer

    References

    1) https://www.thestar.com.my/business/business-news/2017/08/16/healthcare-insurance-premium-may-rise/

    2) http://www.theedgemarkets.com/article/malaysia-medical-inflation-doubledigit-pace

    3) https://www.statista.com/statistics/319033/inflation-rate-in-malaysia/

    4) https://www.healthcareasia.org/2016/rising-employee-healthcare-costs-in-asia-largely-driven-by-ncds/

    The above articles are intended for informational purposes only. AIA accepts no responsibility for loss which may arise from reliance on information contained in the articles.

    Has this article helped you to understand more about medical repricing?

    • Yes (55%)
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