The interim measures include the distribution of premium adjustments due to medical claims inflation over a period of at least three years until the end of 2026, and a one-year delay in premium adjustments due to medical claims inflation for policyholders aged 60 and above who are covered under the minimum plan for the MHIT products purchased.
Additionally, policyholders whose policies have expired in 2024 due to the premium reset can contact their respective life insurers and family takaful operators (ITOs) to request their policies be reactivated based on the adjusted premiums.
Amir Hamzah was responding to a question from Lim Guan Eng (Pakatan Harapan-Bagan) regarding the profits of life insurance companies since 2018 and the resolution of the controversy over premium increases for medical insurance, which had surged by as much as 70%, as well as steps to prevent arbitrary hikes in private healthcare costs.
Amir Hamzah said that through the interim measures, 80% of policyholders are expected to face annual premium adjustments of less than 10% due to medical claims inflation. Meanwhile, he said the average annual profit of the insurance and takaful industry between 2018 and 2023 was RM4.4 billion from life insurers and ITOs.
At the same time, he said the government, through the Ministry of Health, will prioritise comprehensive health reforms to address the issue of medical inflation and charges at private hospitals. These efforts include implementing the Diagnostic Related Group (DRG) payment model, enhancing transparency in drug costs, and comparing common medical costs.
Other measures that can be taken by private hospitals to curb medical inflation are also being discussed as long-term solutions.
Amir Hamzah was responding to a question from Lim Guan Eng (Pakatan Harapan-Bagan) regarding the profits of life insurance companies since 2018 and the resolution of the controversy over premium increases for medical insurance, which had surged by as much as 70%, as well as steps to prevent arbitrary hikes in private healthcare costs.
Amir Hamzah said that through the interim measures, 80% of policyholders are expected to face annual premium adjustments of less than 10% due to medical claims inflation. Meanwhile, he said the average annual profit of the insurance and takaful industry between 2018 and 2023 was RM4.4 billion from life insurers and ITOs.
At the same time, he said the government, through the Ministry of Health, will prioritise comprehensive health reforms to address the issue of medical inflation and charges at private hospitals. These efforts include implementing the Diagnostic Related Group (DRG) payment model, enhancing transparency in drug costs, and comparing common medical costs.
Other measures that can be taken by private hospitals to curb medical inflation are also being discussed as long-term solutions.
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