2027 Budget: Etiqa sees healthcare collaboration as key to containing medical costs
KUALA LUMPUR: The 2027 budget encourages greater collaboration among healthcare stakeholders, including insurance and takaful providers, to improve healthcare affordability and contain rising medical costs, said Etiqa Insurance and Takaful.
In Malaysia, the 2027 budget encourages collaboration between healthcare stakeholders, such as insurers and takaful providers, to reduce healthcare costs and make medical services more affordable, according to Etiqa Insurance and Takaful. Group CEO Kamaludin Ahmad emphasized the importance of developing concrete measures to address rising medical costs and inflation, while bolstering the overall healthcare ecosystem.
Etiqa sees opportunities in promoting medical insurance and takaful, particularly for small and medium enterprises (SMEs) to provide coverage for employees. The government's MediAsas plan, which offers affordable private healthcare coverage, will be launched in January 2027 with subsidised premiums for eligible SMEs, potentially benefiting up to 200,000 workers.
The plan allows EPF members below 55 to use their Akaun Sejahtera savings to pay MediAsas premiums. Kamaludin also highlighted the importance of greater transparency through electronic medical records to avoid unnecessary tests and standardised charges to help patients make informed decisions about their healthcare spending.
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