KUALA LUMPUR, Jan 29 (Bernama) — The Malaysian insurance and takaful industry, represented by the Life Insurance Association of Malaysia (LIAM), Malaysian Takaful Association (MTA) and the Persatuan Insurans Am Malaysia (PIAM) welcomes and fully supports the Joint Ministerial Committee on Private Healthcare Costs (JBMKKS) introduction of the base Medical and Health Insurance/Takaful (MHIT) plan under the RESET Strategy. This is an important initiative which will expand financial protection for essential healthcare needs, channel private spending more efficiently and strengthen conditions for broader health system reforms in line with value-based care that improves health outcomes with disciplined cost management.
The insurance and takaful industry stands ready to play its part in delivering the base MHIT plan to Malaysians across the country. As outlined in BNM’s published White Paper on Base MHIT Plan, it is intended to expand coverage among the uninsured, while also offering more cost-effective alternatives for existing policyholders/certificate holders, particularly retirees and middle-income families seeking long-term affordability. To ensure premiums/contribution remain stable while delivering meaningful protection, the base MHIT plan design incorporates features such as deductibles, co-payments and defined annual limits. These mechanisms are applied with fairness and transparency, supporting responsible utilisation of healthcare services while safeguarding the sustainability of coverage over time. The insurance and takaful industry will work closely with BNM to finalise implementation details and operations which will be launch in early 2027.