Medical insurance premiums in Malaysia are expected to rise sharply by between 40% and 70% next year, dealing a huge blow to many policyholders.
The increase is alleged to be due to the increase in the cost of treatment at private hospitals, which will take effect in February 2025.
According to an FMT report, one policyholder complained that his monthly premium had increased from RM188.47 to RM237.34, and questioned why the premiums were increasing every year without any solid evidence or explanation.
Another policyholder was shocked by the RM133 increase, from RM244 to RM377 per month, and began considering canceling their insurance policies.
The president of the Subang and Shah Alam Consumers Association, Jacob George, demanded government intervention and asked insurance companies to show proof of losses if they want to increase premiums.
He also called for firm action to prevent this increase from continuing.
With this sudden increase, many are beginning to question whether medical insurance is still relevant or will it only be reserved for the wealthy?
This raises a big question, will the government take the appropriate action to help the low and middle income groups who continue to suffer in an increasingly expensive healthcare system?
