WHAT was supposed to be a safety net for a local woman’s health suddenly felt like a trap after her medical insurance premium surged to over RM1,000.
In a screenshot of a social media comment shared on X by @ZZulfikl, the older woman explained that she had no choice but to terminate her medical insurance, feeling that the increase from RM200 to RM1,056 was exorbitant.
“Alhamdulillah, just last year, I used (my insurance) for a minor eye surgery and to treat a high fever,” she said.
“Initially, the premium was just RM200 a month since 2009. When I turned 55, the premium increased to over RM500. Then, when I reached retirement age, it rose to over RM750,” Norashikin Yusof explained in her comment.
In her comment, Norashikin suggested that insurance companies should “assess” how much policyholders actually use their insurance.
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She added that she had asked the insurance company to review the increase but claimed her request was rejected.
“I think it is crazy to pay a premium of over RM1,000,” she added.
The post quickly made rounds on social media, with many sharing their struggles keeping up with rising insurance costs, questioning whether health insurance was a need or a privilege at this point.
“My premium was RM131 in 2018. Now it costs RM387. Imagine in 10 years, it may reach up to RM800. Then the same thing by the time I turn 60 years old, (the premium) would cost over RM1,000,” a user remarked.
“What is the point of paying for decades if we cannot afford it when we need it the most?” a netizen said.
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Last year, many policyholders felt the impact of sharp increases in medical insurance premiums, which reportedly surged by 40% to 70% due to rising healthcare costs linked to an ageing population and advancements in medical technology.
However, the government intervened by ensuring that medical insurers spread the premium changes over a minimum of three years, with this policy set to last until the end of 2026, according to Bank Negara Malaysia.
Deputy Finance Minister Lim Hui Ying stated that premium hikes would be capped by medical insurers at 10% per year, ensuring that the total increase accumulated by the end of 2026 does not exceed 30%.
