KUALA LUMPUR: IHH Healthcare Bhd
has announced that it fully supports the government’s initiatives to address rising healthcare costs.
Chairman Tan Sri Dr Nik Norzrul Thani N. Hassan Thani said that as a leading healthcare provider in Malaysia and other markets, the company recognises the challenges of medical inflation and is dedicated to delivering cost-effective healthcare services both locally and globally.
"Addressing medical inflation is an ecosystem-wide effort.
"Drawing from our experience in Malaysia and other markets, we stand ready to work alongside key stakeholders - from healthcare providers and insurers to regulators and industry associations - to find practical, long-term solutions for the benefit of all Malaysians, without compromising on clinical outcomes and patient care,” he said in a statement.
During the question-and-answer session in the Dewan Rakyat yesterday, Finance Minister II Datuk Seri Amir Hamzah Azizan highlighted that the continuous increase in medical inflation has led to a rise in the claims rate for medical and health insurance and takaful (MHIT).
He said Bank Negara Malaysia (BNM) has taken several interim measures to curb the impact of rising MHIT premiums on policyholders, which took effect on Jan 15, 2025.
The interim measures include the distribution of premium adjustments due to medical claims inflation for at least three years until the end of 2026, and a one-year delay in premium adjustments due to medical claims inflation for policyholders aged 60 and above who are covered under the minimum plan for the MHIT products purchased.
Additionally, Amir Hamzah said policyholders whose policies have expired in 2024 due to the premium reset can contact their respective life insurers and family takaful operators (ITO) to request their policies be reactivated based on the adjusted premiums. - Bernama
