Utusan Malaysia cites notices sent by insurance providers to policyholders.
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https://www.freemalaysiatoday.com/category/nation/2024/11/26/medical-insurance-premiums-reportedly-set-for-40-70-rise/
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#FMTNews #MedicalInsurance #Increase
Read More:
https://www.freemalaysiatoday.com/category/nation/2024/11/26/medical-insurance-premiums-reportedly-set-for-40-70-rise/
Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.
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NewsTranscript
00:00Medical insurance premiums are expected to rise by 40% to 70% next year
00:06with some policyholders choosing to terminate their policies
00:09due to unaffordable monthly fees.
00:12Notices sent by insurance providers attribute the hike to rising private hospital costs.
00:18Putusan Malaysia reported,
00:20a policyholder who asked to be known as Hamidi
00:22whose monthly premium rose from RM188.47 to RM237.34
00:29questioned the justification for such increases
00:32and the lack of transparency on rising treatment costs.
00:35Another policyholder, Safi Wahab, said he might discontinue his policy
00:40warning that rising costs could make health insurance unaffordable
00:43and lead many to let their policies lapse.
00:46Subang and Sialam Consumers Association President Jacob George
00:50called for a limit to increases in medical insurance premiums
00:54and demanded that insurance companies disclose their annual losses
00:57if they plan to raise premiums.
01:00He also said the relevant ministers must ensure that these hikes do not take place
01:04as they do not align with the Madani government's approach.
01:07Last week, a group of PKR MPs claimed that the rising costs of private healthcare services
01:12was forcing the middle class to seek treatment at government hospitals and clinics
01:17exacerbating the problem of overcrowding at these facilities.