KUALA LUMPUR - The rising medical inflation rate and the growing trend of using health services are among the main factors that are driving the increase in premium rates of medical and health insurance and takaful (MHIT), said Deputy Finance Minister Lim Hui Ying.
She said that the issue of medical inflation requires concerted action by all parties to ensure that health access and MHIT products remain sustainable and affordable in the long term.
"Cooperation with the Ministry of Health is also being intensified to implement the initiatives contained in the Health White Paper related to the empowerment of the national health system,” she said during a question and answer session in the Dewan Rakyat today.
Lim also said that Bank Negara Malaysia (BNM) has recently published the latest MHIT business guide aimed at encouraging more responsible use of health services through innovative product design, including introducing meaningful cost-share features.
The MHIT business guide issued by BNM also supports more effective and transparent cost control through the establishment of an integrated claims database; as well as improving the standard of business practices of insurers and takaful operators (ITO), she said.
"The ITOs need to provide clear communication and offer burdened consumers the option to change or adjust their MHIT plan to a more affordable plan, or restructure premium payments or contributions gradually.
"For users who face difficulties in continuing premium payments or contributions, they are encouraged to contact their respective ITOs,” said Lim.
She stressed that if they do not receive satisfactory service from the ITOs, complaints can also be channelled to BNM’s eLINK platform at bnm.gov.my/LINK. - BERNAMA