Photo Credit: Caduceus Grunge Symbol – Sepia by Nicolas Raymond,Flickr

Any expat will tell you that peace of mind is the most important thing to attain before immigrating to a foreign country. They will also, no doubt, inform you that comprehensive and well recognized health insurance coverage is an essential ingredient for achieving peace of mind. Although, rest assured, Malaysia offers myriad first-rate public and private medical facilities, the country does not have a national health insurance scheme or any reciprocal healthcare agreements.  The Malaysian government did introduce a Foreign Worker Hospitalization and Surgical Insurance Scheme in 2011 which has made health insurance mandatory for foreign workers, but the benefits of this scheme for long term Expats is markedly limited.

Though it is only logical that a sound health insurance plan should incorporate budgetary and medical particularity concerns, private international coverage is unanimously recommended by immigration advisement websites, trip advisement pages and Expat blogs alike. Purchasing international health insurance will mean that the services provided will be much more flexible, and that certain waiting periods may be significantly shortened.

Some of the notable benefits of acquiring international insurance include high levels of coverage (over one million USD in some cases), easy renewability, and consistently enforced regulations with regards to exclusions and pre-existing conditions.

Options of note for international medical insurance include:

Cigna: Global Health Options

An insurer of choice for over seven hundred thousand expatriates, Cigna offers international healthcare plans, dental and vision plans as well as wellbeing programs for clients around the world. Inquirers can get a quote for expatriate insurance here.

Seven Corners Travel

This prestigious, internationally recognized company has, over a 20 year period, built an extensive proprietary network of doctors and hospitals throughout the world. The company offers 24 hour worldwide assistance to members, offers translation services, and even organizes emergency evacuations in extreme cases. Quotes can be acquired here.

Infinity Solutions

This company is the leading provider of financial services for Expats residing in Asia.  Their Medical plans are meticulously tailored to suit the needs of any individual and are globally portable. Another factor of infinity that is sure to appeal is that their staff actively searches the market to find the optimum insurance plans for the client, and review the said plans annually. The reader can find more information about Infinity here.

BrokerFish

In addition to helping expatriates around the world pinpoint the very best medical insurance options to suit their needs, this innovative service provides an exceedingly handy Quote and Review page through which to compare a wide variety of insurance plans and options.  Guests are also sure to appreciate the way that BrokerFish.com breaks down the insurance acquisition process into easy to comprehend stages. A treasure trove of invaluable information awaits the potential expat here.

Although when one weighs the pros and cons of local versus international medical cover, one finds that the scale tilts overwhelmingly for the latter, choosing local insurance is certainly better than choosing none at all! There is also a plethora of benefits to choosing local coverage, one of the most distinctive of which is a much cheaper premium. The recognized Malaysian-based insurance services are regulated by Bank Negara, and simple/standard cover packages are comparatively cheap. Many find the virtually all-encompassing nature of certain insurance packages (which cover retirement plans, life policies and health coverage in one!) tempting. However, these broad schemes are not widely lauded and should be considered with great care.

All potential expats are strongly encouraged to assess their individual needs and weigh them with what kind of work or activities they will primarily engage in during their stay in Malaysia. Though this may sound as if it goes without saying, it should be remembered that expats frequently buy into ‘cover-all’ medical insurance plans that have subtle cracks that can be fallen into if one is not careful. Seeking first hand advice, examining what the claims process involves and considering whether or not the policy can be renewed are all vital steps to take. However, the options listed above are sure to provide services that will take a lot of the guess work out of finding the ideal plan to safe-guard a positive Malaysian experience.

As an expat, do you have health insurance in Malaysia?