KUALA LUMPUR: Bank Negara Malaysia (BNM) has pledged to find interim solutions to address the increase in medical insurance premiums, which have risen by 40 to 70 per cent.
This was conveyed by Bayan Baru Member of Parliament, Sim Tze Tzin, following a one-hour briefing for several MPs on the issue of rising insurance premiums at the Dewan Rakyat today.
The briefing, which began at 9am, was chaired by Second Finance Minister Datuk Seri Amir Hamzah Azizan, and attended by BNM Governor Datuk Seri Abdul Rasheed Ghaffour aimed to explain the reasons behind the hike in medical insurance premiums to the attending MPs.
"I attended the presentation this morning regarding the inflation of medical costs and the repricing of medical and health insurance and takaful.
"The government explained several factors behind the premium hike... among them, Malaysia has recorded a rise in non-communicable diseases (NCDs), making it the highest in Asia, (along) with increasing health claims, rising medical inflation, and issues such as salaries for healthcare workers like nurses and doctors.
"Whatever the case, we await the government's decision. The engagement this morning was commendable.
"It shows that the Prime Minister (Datuk Seri Anwar Ibrahim), Second Finance Minister, BNM, and the Health Minister are aware of the concerns raised," Sim told Berita Harian.
Earlier, Anwar, when responding to a related question, said that the government is studying mechanisms to control medical costs, such as the diagnostic-related group system, to ensure that healthcare services in the country remain fair and reasonable.
He added that this is part of a long-term plan to be implemented by the Health Ministry, which includes amendments to the Private Healthcare Facilities and Services Act 1998 (Act 586).
During the briefing, Sim also suggested that the government consider a moratorium before finalising any decisions on the increase in medical insurance premiums.
"I proposed this, but it's up to them because we understand this is a complex issue and involves all stakeholders.
"The moratorium proposal needs a thorough review, but it's okay as the government has announced interim measures to address related issues," he said.