Malaysia Government to Ease Health Insurance Costs with New Measures

Kuala Lumpur – The Malaysian government has announced new measures to address the rising cost of health insurance and takaful premiums, aiming to ease the financial burden on policyholders.

Deputy Prime Minister of Malaysia, Datuk Seri Ahmad Zahid Hamidi said the government has identified four key steps: distributing premium adjustment rates, postponing premium increases, reactivating certain policies, and offering alternative products. The measures were discussed during the National Cost of Living Action Council (NACCOL) Executive Committee Meeting.

Bank Negara Malaysia (BNM), the Health Ministry, and the Employees Provident Fund (EPF) will work together to develop basic health insurance and takaful products focused on value-based healthcare. The reforms are set to be implemented over a three-year period from 2024 to 2026.