Bayan Baru MP Sim Tze Tzin, who attended a one-hour briefing for MPs at Parliament this morning, shared the update in an X posting.
Sim posted a picture from the briefing, which was chaired by finance minister II Amir Hamzah Azizan and attended by BNM governor Abdul Rasheed Ghaffour.
“The government backbenchers thank Amir and Rasheed for their willingness to brief us.
“The government explained several factors contributing to the increase in premiums, including growing non-communicable diseases among the population, an ageing society, advancements in healthcare technology and healthcare workforce salaries,” he said.
Earlier in the Dewan Rakyat, Prime Minister Anwar Ibrahim assured that BNM and the health ministry would work together to prevent steep hikes in medical insurance premiums.
He said BNM, the finance ministry and health ministry would issue strict guidelines to ensure insurance providers, including takaful operators, factor in multiple considerations when setting premiums.
It was previously reported that the central bank had called on insurers and takaful operators to review repricing strategies for more “reasonable implementation”.
Berita Harian later reported that Sim suggested during the briefing that the government consider introducing a moratorium before finalising any decisions regarding the premium hikes.
“I suggested this, but it is up to them, as we understand this is a complex issue and all stakeholders need to be involved. The moratorium proposal needs to be carefully considered.
“However, it’s okay because the government has announced they will implement interim measures to address the issue,” he was quoted as saying. - FMT
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