Health insurance needs to be disrupted

The Malaysian model is more like what’s happening in China where more people opt for health insurance because they feel public hospitals do not provide adequate care and lack facilities.

A man in his mid 50s who has never made a claim on his health insurance gets a letter from his insurance company stating that his premium has been increased by 23% for the year starting 2020.

The rise baffles the customer. The reasons given are even more perplexing. The insurance company states that even though he has not made a claim, the policy is based on the concept of pooling the risk.