PETALING JAYA: Medical insurance premiums are expected to rise by 40 to 70 percent in 2025.
According to Utusan Malaysia, some policyholders have even opted to end their policy as they are unable to bear the escalating monthly costs.
Hamidi, a policyholder told the Malay daily said he received a letter from his insurance provider stating that the new rates would take effect next February.
He explained that he previously paid only RM188.47 a month but he is now required to pay RM237.34.
“Previously, I was paying RM188.47 per month, but now I will need to pay RM237.34. Last year, it increased from RM157.69 to RM188.47. The question is, why do the premiums increase every year? This is really a burden.
“It feels like an annual event. Whenever we ask for an explanation, the company says it’s due to rising treatment costs. What proof is there that treatment costs increase every year?” he questioned.
Utusan said they have attempted to seek an explanation from several insurance companies but have not obtained a response.
Subang and Shah Alam Consumer Association president Jacob George, has called for a cap on medical insurance premium hikes.
He also demanded that insurance companies disclose their annual losses if they plan to justify the increases.
“If this increase proceeds, it does not align with the government’s Madani approach. Relevant ministers must ensure these hikes do not happen,“ he stated, highlighting the challenges policyholders already face when filing claims.
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