PUTRAJAYA: Prime Minister Dr Mahathir Mohamad today launched the B40 national protection scheme, or mySalam, which is expected to benefit 3.69 million people in the bottom 40 (B40) group.
The 3.69 million comprise working adults aged between 18 and 55 years old, Mahathir said.
He said through this scheme, the federal government intended to help the B40 group overcome financial constraints arising from the admission to government hospitals or when afflicted with one of 36 unexpected critical illnesses.
As of 2017, he said the insurance and takaful penetration rate for the B40 working class was still low at 30.3% compared to that of the overall working adults at 50.4%.
“We hope that mySalam helps increase the insurance and takaful penetration for the B40 group, as it is very important and meaningful in our efforts to uplift their quality of life.
“Even though we have inherited a heavy financial burden, this will not stop the government from introducing programmes which are people-friendly, such as mySalam.
“This initiative is also a significant move on the government’s part to draft a more inclusive financial development policy in the country,” he said in his opening speech here today.
Finance Minister Lim Guan Eng, Health Minister Dzulkefly Ahmad, Deputy Finance Minister Amiruddin Hamzah and Treasury secretary-general Ahmad Badri Mohd Zahir were also present at the launch.
The fund has so far received RM2 billion from private insurance firm Great Eastern Life. With this amount, the scheme is expected to offer medical protection for at least five years to the target group.
Under the scheme, qualified recipients will get free health protection for 36 critical illnesses including cancer, heart attacks and Alzheimer’s disease. Recipients will get a one-off payment of RM8,000 if they are identified as suffering from one of the listed critical illnesses.
The scheme also gives out a daily payment of RM50 as replacement income, if the recipient has to undergo treatment at any government hospital for a maximum of 14 days a year, equivalent to RM700 a year.
The focus of the scheme, Mahathir said, is to extend the reach of insurance and takaful policy ownership, which can be done by introducing suitable products at reasonable prices.
The Pakatan Harapan chairman said for the B40 group, especially those who are self-employed or earn daily wages, takaful claims received from the scheme can provide temporary relief to help maintain daily needs while they undergo the necessary treatment.
Appreciating Great Eastern’s contribution, Mahathir expressed hope that other private insurance companies would join hands to help expand the reach in insurance and takaful policy ownership among Malaysians.
Besides mySalam, the health ministry also plans to introduce the “Skim Peduli Kesihatan”, or PeKa B40.
It will launch the scheme next week for those in the B40 group aged 50 and above. It is a pioneer project with an allocation of RM100 million. - FMT
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