Having medical insurance is very important as it helps save a considerable amount of money when you find yourself admitted to the hospital for prolonged periods of time.
However, many Malaysians are finding it increasingly difficult to maintain their medical insurance as the premiums are expected to rise exponentially next year.
40%-70% increase in medical insurance premiums
As per a report by Utusan Malaysia, medical insurance premiums are slated to see a hike of between 40% and 70% in 2025, with insurance providers citing rising cost of medical care in private hospitals as the primary reason.
As such, many have chosen to either cancel their medical insurance policies, go for insurance provided by their employers, or utilise government hospital services.
A man named Hamidi told Utusan that he was notified by his insurance provider that the premium increase is set to take place next February, something which he called “burdensome”.
This year, the company has already increased the premium by over RM40. Next year, it will double. I used to pay RM188.47 monthly, and now I have to pay RM237.34, even though there was a previous increase last year from RM157.69 to RM188.47.
“Why is it increasing each year? This is burdensome for us,” he lamented.
Hamidi also grumbled over the lack of proper explanation and proof given by insurance providers when confronted on the issue.
Another man, Safie Wahab, said he was tempted to stop paying for his medical insurance after the premium skyrocketed from RM244 to RM377 per month.
MP promises to probe premiums hike
Following the public outcry, Bayan Baru MP Sim Tze Tzin said he will hold a meeting with insurance companies and private hospitals to garner more information behind the increase of medical insurance premiums.
He added that a total of 52 complaints have been filed so far and encouraged Malaysians to continue doing so in order to shed more light issues related to private hospital charges.
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