Bank Negara Malaysia Reviewing Medical Insurance Premium Hike, Says PM Anwar Ibrahim
Putrajaya, The Gulf Observer: Prime Minister Datuk Seri Anwar Ibrahim has confirmed that discussions regarding the proposed increase in medical insurance premium rates are still ongoing.
Speaking to reporters after performing Friday prayers at Surau Al-Manar in Presint 14, the Prime Minister said, “So far, the process is still being renegotiated.”
The proposal has sparked significant public interest, as recent reports suggested that medical insurance premiums could rise by 40 to 70% next year. This potential hike has raised concerns among policyholders, some of whom are contemplating terminating their policies due to the rising costs.
In response to these concerns, Bank Negara Malaysia previously urged insurers and takaful operators to reassess their pricing strategies. The central bank emphasized the need for a more balanced approach, taking into account the financial impact on policyholders and participants in the takaful system.
The ongoing negotiations aim to address these concerns while ensuring that premium adjustments reflect market realities and sustainable healthcare coverage for Malaysians.
As consultations continue, stakeholders and the public are closely watching for an outcome that balances affordability with the viability of the insurance industry.
