National B40 insurance scheme to start on Jan 1, 2019

Finance Minister Lim Guan Eng says rules for cryptocurrency exchanges, ICO in force by Q1 of 2019.

PETALING JAYA: The National B40 Protection Scheme will officially commence on Jan 1, 2019, and will cover 36 critical illnesses including AIDS, Alzheimer's, blindness, cancer and heart attack.

Finance Minister Lim Guan Eng (pic) said that the scheme, with an initial fund size of RM2bil as announced in Budget 2019, would benefit some 4.1 million B40 households.

It will provide free medical coverage for five years to the targeted recipients against 36 critical illnesses.

"This scheme will provide health insurance and takaful protection for free to qualified low-income households, or B40, as assistance to cope with hardship arising from health issues, critical illness and hospitalisation that may adversely impact the income streams of their households," he said.

"Recipients will receive payment for up to RM8,000, with disbursement over a period that will be announced.

"The scheme also gives daily payments as income replacement in the event of hospitalisation for up to 14 days at RM50 per day, or RM700 per year," he said in a statement on Friday (Dec 28).

Lim added that the scheme's registration and customer support services will be in operation from March 1, 2019, and can be done electronically.

Qualified recipients do not need to undergo medical examination and will be notified through SMS.

Further information on the mechanism and implementation of the Scheme will be disclosed when it is officially launched in early 2019.

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