If you’re a millionaire, don’t read any further, you do not need this feature.
But for the rest of us who don’t have lots of spare cash, the number one feature you should look for in medical insurance is cashless admission.
Cashless admission means that you do not have to pay for your hospital bill with your savings. All you need to do is to show your insurer’s digital or physical medical card and then the hospital will contact the insurer through a third-party administrator, to arrange for all the paperwork to be in place. From the day you are admitted till the day you are discharged, all money matters will be between the hospital and your insurer so that you can focus on your recovery. However, do be informed that private hospitals require a deposit to be paid prior to admission as a safety net for expenses that might not be paid by your insurer, like another set of hospital welcome pack!
Ideally, once you show your medical card, it would be a smooth and quick admission process. But a lot depends on the efficiency of the hospital’s admission process. Some steps admission departments take include verifying the validity of the medical card with the insurer, checking the scope of your coverage (including checking for any exclusions) and getting a guarantee letter issued.
Sometimes the admission process is delayed because of other factors like the availability of hospital beds and preferred class of ward. We have to be honest, the experience of getting admitted into a hospital is not yet like checking into a hotel.
Be aware though that cashless admission does not apply to all hospitals. Do check beforehand with your medical insurer which hospitals qualify for cashless admission near you and make a mental note of it. If you use a hospital that is not affiliated with your insurer, you will still be reimbursed for your medical expenses, but you will have to pay first for your treatment, and be reimbursed only after you are discharged and have submitted your medical claim to the insurer.
P.S. At Fi Select, we have searched the Malaysian market for the best value medical plans and we landed on Generali Malaysia's SmartCare Optimum family of plans. They all feature cashless admission, among many other benefits. Upon being insured, you will get an e-medical card (see pic below) that will entitle you to cashless admission to most reputable hospitals in Malaysia.
Europ Assistance is our third-party administrator (TPA) or emergency assistance. You may call this number for assistance when you need to be admitted to a hospital.