By DayakDaily Team
KUALA LUMPUR, Nov 4: The federal government, through Bank Negara Malaysia (BNM), will review insurance providers’ operating procedures following complaints that policyholders seeking treatment at private hospitals faced restrictions in choosing specialist doctors.
Finance Minister II Datuk Seri Amir Hamzah Azizan said the government would discuss the matter with BNM to safeguard consumer rights while addressing rising medical costs.
“Regulation of the insurance industry falls under BNM, and as part of this initiative, the central bank will review the procedures adopted by insurance providers.
“Equally important is ensuring that all industry players comply with sound regulations to prevent medical cost inflation from rising, as everyone would ultimately bear the resulting costs,” he said when winding up the committee-stage debate on the Supply Bill 2027 (Budget 2027) for the Finance Ministry in the Dewan Rakyat today.
On efforts to widen access to affordable and comprehensive healthcare protection, Amir Hamzah said the MediAsas insurance and takaful product was expected to be launched in late January next year.
He said the product would adopt a diagnosis-based payment system to help contain rising treatment costs, while allowing Employees Provident Fund (EPF) members below 55 to pay their premiums using savings in Akaun Sejahtera.
To further support workers’ welfare, the government had also agreed to provide employers of small and medium enterprises (SMEs) with fewer than 75 employees a first-year premium subsidy of RM200 per worker.
Each eligible company would be entitled to the subsidy for a maximum of 50 workers, he added.
The Dewan Rakyat subsequently approved the Finance Ministry’s estimated 2027 operating and development expenditure of RM68,159,895,600 under Budget 2027 through a voice vote, following debate by 27 MPs. — Bernama
