AUG 31 — The Medical and Health Insurance/Takaful (MHIT) policy introduced by Bank Negara Malaysia under the Financial Services Act 2013 and Islamic Financial Services Act 2013...
AUG 31 — The Medical and Health Insurance /Takaful policy introduced by Bank Negara Malaysia under the Financial Services Act 2013 and Islamic Financial Services Act 2013 that mandates that all new MHIT products include co-payment provisions will be implemented on 1 September 2024.
Evidence from other countries underscores the consequences of high co-payments. In the United States, high co-payments have led to deferred care, worsening health outcomes, and higher long-term healthcare costs as patients delay treatment until conditions become severe. Similarly, studies from Australia have shown that co-payments can significantly reduce healthcare utilization, particularly among low-income individuals, leading to poorer health outcomes.
According to Malaysia National Health Accounts data, private hospitals experienced a RM3.5 billion rise in health expenditure in 2022, a 22 per cent increase, with RM2.26 billion of this amount coming from out-of-pocket payments. Additionally, spending on medical goods rose by nearly RM1 billion, and curative care costs increased by 15 per cent.
Thailand and South Korea offer contrasting examples where integrated health insurance systems have improved equity and efficiency. Thailand’s universal coverage system, which eliminated co-payments, has successfully reduced financial barriers and improved access to care, particularly for the poor.
Additionally, while the requirement for ITOs to submit data to a central medical claims’ platform is a positive step toward transparency and cost control, the market-driven framework lacks clear guidelines on how this data will be used to address inequities in healthcare coverage and utilization. Without a strong regulatory framework to guide the analysis and application of this data, there is a risk that existing disparities in healthcare access will persist.
Co-Payment Bank Negara Malaysia Health Insurance
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