Consumers urged to inform Fomca of hike in medical premiums

 

The Federation of Malaysian Consumers Association (Fomca) calls on all consumers with medical insurance policies to inform them of price increase of their premiums.

Its president, Dr Marimuthu Nadason, in a statement today said Fomca has been receiving complaints from policyholders of medical insurance of indiscriminate increase in the price of their premiums.

“Many consumers have been forced to pay increasing medical premiums. It is certainly wrong and unacceptable that insurance companies, at this time, raise premium prices to make excessive profits. Consumers are already suffering.

“Fomca will be launching a national campaign to urge Bank Negara Malaysia to stop the increase in medical premiums,” he said.

Bank Negara as a responsible regulator should have already preemptively directed insurance companies not to increase premiums at this period of time.

Marimuthu also called on those who have not received any notice of price increase in their medical insurance to contact the agent and ask if there is indeed an increase in the price of medical premiums.

"Please provide the feedback to Fomca to enable us to know if you have been affected by the price increase of your medical insurance premium. You may email us the details at insurance@fomca.org.my or via this online form,” he added.

- Bernama