PETALING JAYA: Uninsured Malaysians should secure basic medical protection now rather than waiting for the government’s proposed medical and health insurance and takaful (MHIT) plan.
The full rollout of the MHIT, which aims to contain healthcare inflation in the country, will be in 2027.
In the interim, insurance experts advised those needing coverage to prioritise essential benefits.
Insurance unit manager Nurul Amirah Zamri said that at the minimum, they should get coverage for death and accidents.
“This can be obtained for as little as RM50 a month. Instead of waiting, the uninsured should look for an affordable plan,” she said.
For those who can afford it, she suggested hospitalisation and surgical coverage based on their medical needs, with annual coverage of RM100,000.
At the same time, she advised those looking to get insured to understand deductibles, which is a fixed, out-of-pocket amount that must be paid for covered expenses before the insurance policy begins to pay a claim.
It is equally important for policyholders to be aware of any co-payment and how much they may need to pay out of pocket when getting treatment, she added.
Nurul Amirah also said those with employer-provided benefits should make full use of their company coverage, while others may need to rely on public hospitals.
“Private healthcare is costly and may be out of reach without substantial savings. For many, public hospitals remain the default option,” she said.
Nurul Amirah highlighted that some EPF-linked (i-Lindung) products focus more on death or critical illness payouts rather than comprehensive hospitalisation.
Insurance agent Aminuddin Abdul Khalid echoed the need for consumers to take an informed and comparative approach when selecting medical coverage.
“People should compare different medical insurance plans by looking at coverage options, premiums and deductibles to find the best fit for their needs,” he said.
Aminuddin also recommended working with licensed insurance agents to help navigate the range of products currently available, particularly for first-time buyers or those reconsidering their coverage.
The new Base MHIT plan is intended to expand coverage among the uninsured, while also offering more cost-effective alternatives for existing policyholders and certificate holders, particularly retirees and middle-income families seeking long-term affordability.
On Thursday, Finance Minister II Datuk Seri Amir Hamzah Azizan told Parliament that discussions are underway to see whether the Base plan concept can be accepted as part of the Employees Provident Fund’s (EPF) i-Lindung products.
General Insurance Association of Malaysia (PIAM) chief executive officer Chua Kim Soon welcomed the idea of integrating the Base MHIT into EPF’s i-Lindung framework, calling it “an excellent initiative”, adding that similar mechanisms have worked in other countries.
He said allowing EPF withdrawals could also lift uptake because it makes payment “easier and seamless”, potentially improving affordability for members who are currently uninsured or underinsured.
Chua described the Base MHIT as a practical baseline product that can meet most common treatment needs at a more affordable price, adding that those who want higher coverage can sign up for top-up coverage offered by insurers.
He also urged Malaysians to prioritise health protection given high medical costs, as insurance can help cover hospitalisation expenses and reduce the risk of having to dip into savings, or even EPF, during a medical emergency.
