COMMENT | Medical insurance premiums need to be regulated

COMMENT | The cost of healthcare, like everything else, is increasing at a breakneck pace.

This leaves many unable to afford it unless the less fortunate are willing to wait for a prolonged period in public hospitals, owing to a series of mismanagements by multiple governments, or have purchased medical insurance to cover their expenses in private hospitals.

However, the rise in medical costs has heavily affected the prices of medical insurance, with reports indicating that premiums are set to increase by 40 to 70 percent in 2025.

This report sparked public outcry, leading to Bayan Baru MP Sim Tze Tzin’s call on Bank Negara Malaysia (BNM) to intervene.

In response, BNM issued a statement urging insurers and takaful operators to review their repricing strategies.