Latest news with #i-Lindung
New Straits Times
4 days ago
- Business
- New Straits Times
Engagement session for basic MHIT product yet to be finalised
KUALA LUMPUR: Engagement sessions with key stakeholders for the development of the Medical and Health Insurance and Takaful (MHIT) basic product are currently still ongoing, the Dewan Rakyat was told. Finance Minister Datuk Seri Anwar Ibrahim said the structure and design of the product have yet to be finalised. He added that the basic product concept is targeted for full completion by December 2025, with implementation planned for the end of 2026. "Engagement sessions with key stakeholders are actively being conducted to ensure that all feedback regarding the design features of the MHIT basic product is considered and aligned with the principles of affordability and long-term sustainability. "However, it is important to emphasise that the decision to purchase this basic product is entirely voluntary and based on individual choice," he said in a written parliamentary reply. He was responding to Datuk Dr Alias Razak (PN–Kuala Nerus) on the status of the study on withdrawals from Account 2 of the Employees Provident Fund (EPF) to finance health insurance premiums and the likelihood of it being implemented in the near future. Commenting further, Anwar said once the MHIT basic product policy is finalised, the EPF is prepared to consider enhancements to the i-Lindung facility to allow the use of Account 2 for the future purchase of the product. "As with other insurance and takaful products, policyholders can expect to pay for the MHIT basic premiums from any financial resources they have. "The use of funds from Account 2 under the EPF scheme is merely one of the proposed financing options currently available to consumers for purchasing insurance and takaful protection," he said. In June, it was reported that the government was c onsidering allowing EPF members to use their Account 2 savings to pay for monthly health insurance premiums. Health Minister Datuk Seri Dr Dzulkefly Ahmad said if implemented, 16 million EPF contributors could gain access to private hospital treatments using their contributions.
Malay Mail
30-07-2025
- Business
- Malay Mail
MoF: Basic affordable health insurance scheme concept to be completed by December 2025, with rollout targeted for end-2026
KUALA LUMPUR, July 30 — The development of the basic Medical and Health Insurance/Takaful (MHIT) product concept is targeted for completion by December 2025, with implementation planned for the end of 2026. According to the Ministry of Finance (MoF), the structure and design of the product have yet to be finalised. 'Currently, active engagements with key stakeholders are ongoing to ensure that all feedback on the design features of the MHIT product aligns with the principles of affordability and long-term sustainability of the basic MHIT product,' the ministry said in a written reply published on the Parliament website yesterday. The MoF was responding to a question from (Rtd) Navy Commander Nordin Ahmad Ismail (PN-Lumut), who sought clarification on the government's consideration of allowing the public to use their Employees Provident Fund (EPF) Account 2 savings to finance health insurance. He also inquired about how the government's proposal would help ease medical costs and the timeline for its implementation. The ministry explained that the government, through Bank Negara Malaysia, the Ministry of Health, and MoF, has introduced the RESET strategy as a strategic framework to address rising healthcare costs and private insurance. One of RESET's key pillars is to enhance MHIT by developing a basic insurance and takaful product that offers more sustainable and stable long-term premiums. The MoF emphasised that purchasing this basic product is voluntary and the use of funds from EPF Account 2 is just one of the existing financial options available to users for buying insurance and takaful coverage. 'Once the basic MHIT policy is finalised, EPF is prepared to consider enhancements to the i-Lindung facility to allow the use of Account 2 funds for purchasing the MHIT basic product in the future,' it added. — Bernama
New Straits Times
19-06-2025
- Health
- New Straits Times
EPF members may soon use Account 2 for health insurance, says Dzulkefly
KUALA LUMPUR: The government is considering allowing Employees Provident Fund (EPF) members to use their Account 2 savings to pay for monthly health insurance premiums. Health Minister Datuk Seri Dr Dzulkefly Ahmad said if implemented, 16 million EPF contributors could gain access to private hospital treatments using their contributions. The proposed approach, practised in several other countries, aims to ensure broader health insurance coverage for the public. Currently, 32 per cent of healthcare costs in Malaysia are paid out-of-pocket. However, Dzulkefly stressed that participation in the scheme would be optional. "A small percentage can be used for insurance payment. They won't even feel it, as it doesn't come out of their pocket. It's from the EPF. This is the best way. Eventually, our people will have coverage like in Singapore. But we can't force it," he said. He said the members should have options as some may want broader insurance coverage available in the market. The scheme differs from the ongoing i-Lindung initiative, which only covers disability, critical illness and life protection. The government also plans to launch the 'Rakan KKM' initiative by the third quarter of this year. "For example, hospitals in Putrajaya and Cyberjaya have ward branches and operating theatres that are often underused due to staff shortages. These are considered excess capacity," he explained. Four hospitals have joined the programme so far: Cyberjaya Hospital, Putrajaya Hospital, Serdang Hospital and the National Cancer Institute (IKN). "At the same time, we're creating more room. When people go to Rakan KKM partners, it opens space for the B40 group. They'll enjoy more appointments and access to doctors. This helps the lower-income group and civil servants use public healthcare more efficiently. That's the system we want to build," he added. Fourty public hospitals with a total of 800 beds have been identified to join the Rakan KKM initiative in phases. The project involves a total investment of RM85 million, including a RM25 million allocation under the 2025 budget.
