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.
Our members are committed to ensuring timely claims payouts, clear communication with hospitals, and efficient claims processing, so Malaysians can access care without delay. The base MHIT plan is designed to complement existing medical plans, which will continue to be available. The industry supports offering the base MHIT plan at scale, as standardisation provides a strong foundation for broader participation, consistent understanding of coverage, and greater public confidence.
Transparency remains a priority in our work, and under the RESET strategy we have recently published
Reference Price Ranges for Common Private Healthcare Services on the websites of LIAM, MTA and PIAM using actual claims data:
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https://www.liam.org.my/about/healthcare/index.html•
https://takaful4all.org/ms/inforesources/mhit/•
https://piam.org.my/news-media/explore-connect/knowledge-zone/
publicationof-common-healthcare-services/This publicly available guide empowers Malaysians with better cost visibility, helps them plan for potential out-of-pocket expenses, and supports more informed discussions with healthcare providers. It is one of several initiatives the industry has undertaken to promote awareness, manage healthcare costs responsibly, and protect the sustainability of insurance and takaful protection for the long term.
LIAM, MTA and PIAM — together representing the insurance and takaful community — remain steadfast in our commitment to supporting the smooth rollout of the base MHIT plan and delivering on its promise of affordable, transparent and sustainable healthcare protection. By balancing access with affordability, embedding transparency into product design and cost structures, and leveraging our decades of experience in protecting Malaysian families, the industry is ready to drive meaningful reform and maintain the public’s trust in medical and health insurance as a cornerstone of financial security.
ABOUT LIFE INSURANCE ASSOCIATION MALAYSIA (LIAM)Formed in 1974, the Life Insurance Association of Malaysia (LIAM) is a trade association registered under the Societies Act 1966. LIAM has a total of 16 members, of which 14 are life insurance companies and 2 life reinsurance companies. LIAM’s objectives are to promote a progressive life insurance industry; to enhance public understanding and appreciation for life insurance; to upgrade the image and professionalism of the life insurance industry and to support the regulatory authorities in developing a strong industry. Visit
www.liam.org.my for details.
ABOUT MALAYSIAN TAKAFUL ASSOCIATION (MTA)Malaysian Takaful Association (MTA) was established on November 2002 under the Societies Act 1966. It is a trade association representing all 19 licensed Takaful and Retakaful operators in the country. The objectives and the powers of MTA are to promote the interests of its members and to inculcate the implementation of self-regulation within the Takaful industry. More information on MTA can be obtained from its website:
www.takaful4all.orgFacebook:
facebook.com/MalaysianTakafulAssociation/Instagram:
instagram.com/malaysiantakafulassociation ABOUT PERSATUAN INSURANS AM MALAYSIA (PIAM)The history of PIAM originated from the establishment of various insurance and tariff associations set up in 1885 that played a role as a collective voice of the insurance industry in Malaya and Singapore shortly after the Independence of Malaya in 1957. In June 1961, the Insurance Association of Federation of Malaya was formed to maintain tariff insurance legislations and promote sound insurance practices. For the first time, an Association was established in Kuala Lumpur to safeguard the country's general insurance interest. Subsequently, PIAM was established in May 1979 as a statutory trade association recognised by the Government of Malaysia for all registered insurance business. Currently, PIAM has 23 member companies comprising direct general insurance and reinsurance companies operating in Malaysia.
To learn more about PIAM, visit
www.piam.org.myFacebook:
facebook.com/PersatuanInsuransAmMalaysiaInstagram:
instagram.com/piam_malaysia/TikTok:
https://www.tiktok.com/@piam_malaysiaSOURCE: Life Insurance Association of Malaysia (LIAM)
FOR MORE INFORMATION, PLEASE CONTACT:
LIAM:Puan Norizan Hassan
Head of Corporate Communications
Life Insurance Association of Malaysia
Tel: 603-2691 6168 / 6628 / 8068
Email: liaminfo@liam.org.my
Website: www.liam.org.my
Facebook: LIAM – Life Insurance Association of Malaysia
Instagram: @liamalaysia
MTA:Puan Siti Nor Kamariah Ishak
Head, Corporate Communications
Tel: 01137475361
Fax: +603-2031 8170
Email: mtasecretariat@malaysiantakaful.com.my
PIAM:Name: Ms. Susanna G. Simon
Head of Corporate Communications
Persatuan Insurans Am Malaysia (PIAM)
Tel: 03-2274 7399
Fax: 03-2274 5910
Email: susanna.simon@piam.org.my
Website: www.piam.org.my
--BERNAMA