For many of us, having health insurance is meant to provide peace of mind—a safety net in case of unexpected medical expenses.
But what happens when the very thing that’s supposed to protect you starts to feel like a financial trap?
Recently, a Malaysian took to social media to share their frustration and shock after their medical insurance premium skyrocketed from RM200 to RM1,056 per month.
Their experience struck a nerve with many, sparking discussions about whether health insurance in Malaysia is still affordable or becoming a luxury only a few can afford.
It was just RM200 monthly
The individual had been subscribed to a takaful medical insurance plan since 2009, starting with a manageable RM200 per month.
Like many, they expected gradual increases over time—but they weren’t prepared for just how much it would rise.
At 55, my premium jumped to over RM500. Then, as I got closer to retirement, it went up again to RM750++,” they shared.
Then came the real bombshell. Last year, they received a notice stating that their monthly premium would shoot up to RM1,056—a price that was simply unsustainable.
I think this is excessive. They should assess how frequently we actually use our takaful. I requested a review, but they refused. So, I had no choice but to terminate the policy,” they said.
“It’s happening to so many of us”
The post quickly gained traction, with many sharing their own struggles with rising insurance costs. One person revealed that their premium had climbed from RM131 in 2018 to RM387 today.
Imagine in another 10 years—it might reach RM800. And by the time I turn 60, it could exceed RM1,000,” they commented.
For those nearing retirement or already retired, these increases are especially alarming.
Many pointed out that insurance companies don’t consider how often a person actually uses their policy, making it unfair for those who rarely make claims but are still hit with huge hikes.
The tough choice retirees are facing
With fixed or limited income after retirement, paying such high premiums isn’t just an inconvenience—it’s a serious burden.
Some said they were forced to drop their policies altogether, despite wanting the security of medical coverage. Others questioned whether health insurance was still a necessity or becoming a privilege for the wealthy.
What’s the point of paying for decades if we can’t even afford it when we need it the most?” one netizen asked.
Is health insurance still affordable?
Many argue that insurance companies should be more transparent about how they calculate premiums and consider actual usage instead of just age-based pricing.
Others feel that without stricter regulations, insurance costs will continue to climb, making it inaccessible for the average Malaysian.
If prices keep rising, will more people be forced to rely on public healthcare, adding strain to the system? Or will there be a push for fairer pricing and greater transparency in the insurance industry?
What do you think? Should insurance companies be required to justify these hikes, or is this just the reality of healthcare costs today?
