Health Insurance Premium Hike - Again

Medical insurance premiums are expected to rise between 40 and 70 per cent next year (2025), following notices sent by insurance providers to policyholders citing the rising cost of medical care in private hospitals as the primary reason.

Many users have opted to cancel their medical insurance policies as they can no longer afford the increasing premiums that need to be paid every month. As an alternative, they choose to use insurance provided by their employers or opt to use government hospital services.

The majority of medical insurance cardholders have expressed dissatisfaction and questioned these increases, which they believe are not only burdensome but also unreasonable. A Customer had already received a letter from his insurance company stating that the premium increase would take effect in February next year (2025).

This year (2024), the company has already raised the premium by over RM40. Next year, it will double. I used to pay RM188.47 a month, and now I have to pay RM237.34, even though there was a previous increase last year, from RM157.69 to RM188.47.

Another Customer, said his insurance policy had also increased by RM133, from RM244 to RM377 per month. He has even considered the possibility of stopping the payments in the future.

Meanwhile, Consumers Association of Subang and Shah Alam (CASSA) president Datuk Seri Dr Jacob George said it was not reasonable to increase insurance premiums given the current cost of living.

Bayan Baru member of parliament Sim Tze Tzin said that his office would be meeting not only with insurance companies but also with private hospitals to gather more information.