Govt Considers Introducing Basic Insurance Scheme - Amir Hamzah
KUALA LUMPUR, June 26 (Bernama) — The government is considering introducing a basic insurance scheme to help reduce the impact of rising medical costs, which has become a growing concern among the public, said Finance Minister II Datuk Seri Amir Hamzah Azizan.
He said a joint committee has been established involving the Finance Ministry, Bank Negara Malaysia (BNM), the Health Ministry and several related agencies.
“Among our efforts is the RESET programme to explore how we can create a basic insurance scheme for Malaysians,” he said after launching the Budget 2025 Initiative led by Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank).
“The proposal is at the discussion stage to ensure that its implementation is beneficial and will not burden any party,” Amir Hamzah said.
He was responding to questions on the government’s proposal to allow withdrawals from Account 2 of the Employees Provident Fund (EPF) to pay health insurance premiums.
He said those involved in developing the scheme include insurance and takaful operators (ITOs) and financial sector representatives.
“Once we are ready, we will announce the implementation model. We are also open to suggestions, including models like the Social Security Organisation (SOCSO). The priority is to develop a product that truly meets the needs of Malaysians,” he said.
Amir Hamzah launched a strategic initiative worth RM211 million by SME Bank that will support the sustainable and inclusive growth of the micro, small and medium enterprises.
Also present at the event were Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick, SME Bank chairman Datuk Muslim Hussain, and the banking group’s acting president and group chief executive officer Datuk Dr Mohammad Hardee Ibrahim.
— BERNAMA