Bank Negara Malaysia is collaborating with the Ministry of Health and the Employees Provident Fund to develop basic health insurance and takaful products focused on value-based healthcare, aiming to reform the national health sector and manage rising medical costs.
Bank Negara Malaysia (BNM) is collaborating with the Ministry of Health (MOH) and the Employees Provident Fund (EPF) to develop basic health insurance and takaful products focused on value-based healthcare. This initiative, highlighted by Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, aims to reform the national health sector and improve access to sustainable medical treatment amidst rising medical cost inflation. This issue was addressed during the Naccol Executive Committee Meeting No 1 of 2025, where officials discussed strategies to manage increasing health insurance and takaful claims.
Several measures are being proposed to control growing premiums, such as adjusting premium rates, deferring increases, and providing alternative products. The health reform efforts are expected to be implemented swiftly within a three-year timeframe, from 2024 to 2026. Additionally, the meeting reviewed initiatives from the Social Security Organisation (Socso) aimed at enhancing social protection and job matching to help bridge the income gap among citizens. Proposed enhancements include more efficient job matching systems and providing incentives for employers to hire individuals from vulnerable groups, thereby promoting better economic security.
The government also reaffirmed its commitment to addressing cost-of-living issues through various initiatives, such as income enhancement programs and cash assistance. In anticipation of the festive season, the deputy prime minister announced an expansion of the cheap sales program, which will offer essential goods at more affordable prices. This includes the Rahmah Madani Sales and events at Farmers’ Markets. The Ministry of Agriculture and Food Security assured that the supply of key agro-food items will remain stable leading up to Ramadan and Hari Raya Aidilfitri celebrations.
