PUTRAJAYA: Bank Negara Malaysia is still consulting with stakeholders on the proposed increase in medical insurance premium rates, says Prime Minister Datuk Seri Anwar Ibrahim.
"So far, the process is still being renegotiated," he told reporters after performing Friday prayers at Surau Al-Manar, Presint 14 here on Friday (Dec 6).
Previously, the central bank urged insurers and takaful operators to review their pricing strategies to ensure more appropriate implementation.
According to Bank Negara, this step includes managing premium and contribution increases continuously by considering the impact on policyholders and takaful participants.
The media recently reported that medical insurance premiums are expected to increase by 40 to 70% next year, causing some policyholders to consider terminating their policies due to the increasing monthly premium costs. – Bernama
