00:00Malaysians who find existing private medical insurance and takaful plans too costly
00:05will have a new option when Medi-Asas is rolled out nationwide in January 2027.
00:11Bank Negara Malaysia Deputy Governor Aznan Abdul Aziz said the voluntary-based medical plan
00:17is designed to provide essential private healthcare coverage at a more manageable cost.
00:22He added that the plan was designed for the masses
00:24rather than offering very high coverage limits that would push up premiums.
00:29This is deliberately designed as such because you know you can have limits like 2, 3, 5 million
00:34but that will gain drive the cost.
00:36So we're trying to find a level that meets most people's requirement but also managing the cost.
00:42Two variants have been outlined.
00:45Medi-Asas Teras will offer annual coverage of about RM100,000
00:49rising automatically to RM150,000 for policyholders age 60 and above.
00:55While Medi-Asas Flexi will have a higher limit of RM300,000.
01:00Aznan said the RM100,000 limit would cover 99% of treatment episodes involving common medical conditions.
01:08This estimation is based on the 2024 medical claims data from Insurance Services Malaysia.
01:14He emphasized that Medi-Asas will complement rather than replace Malaysia's public healthcare system.
01:20It is also intended to be more inclusive for people with stable, well-managed pre-existing conditions
01:26although exclusions or higher premiums may still apply after underwriting.
01:31Medi-Asas encourages more responsible use and is part of the Wider Reset initiative
01:36to address the root causes of medical inflation.
01:39Other measures include greater price transparency, interoperable electronic medical records
01:45and diagnosis-related group payments aimed at encouraging hospitals to provide cost-effective quality treatment.
01:52The plan is now being tested in a controlled environment before its nationwide rollout
01:58with an independent governance board expected to oversee its long-term affordability and sustainability.
02:04Andrea Edmonds and Amir Fakhri, FMT.
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