medical insurance. do we really need it?

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came across this article (http://www.qotion.sg/tips-personal-insurance) and felt that i should share it with fellow mylotters. i've gotten basic medical insurance for myself. my family are all insured for basic medical expenses as well. with the rising cost of health care, we couldn't afford to not have medical insurance. the thing is, how much is enough? [i]If your employer covers your medical expenses, you do not need any personal medical insurance. If you wish to buy a personal insurance now, so that you are assured of continuing coverage after your retire from work, you should choose a low cost Medishield plan. There are many medical plans in the market. They cover different classes of wards in restructured and private hospitals. In selecting your plan, you should consider the total lifetime cost. You should add the premium for the various ages from now until you reach age 85 years. As the premium rate increases with age, you must take the higher cost into account, when you select your plan. There is no need for you to buy an expensive plan, unless you have a high income. If you enter into a subsidised ward, your medical expenses will be quite affordable and can be covered by a lower priced medical plan. Do not spend too much premium on your medical plan when you are young. You need the savings to cover your insurance premium and medical expenses when you grow old. The basic medical plan has a Deductible and a co-insurance portion, which have to be paid by you. Some insurance company offer a rider to cover these items. As the amounts are not large, you do not need to buy the rider. [/i]