THE ‘Medical Premium-Sharing’ measures introduced by the Ministry of Finance is a short-term plan aimed at alleviating the rising costs of insurance premiums and does not address the root cause of the issue, said the MCA.
Its vice president, Datuk Ir Lawrence Low said the public is still concerned about the rationale behind the continuous surge in premiums and medical costs.
"Deputy Finance Minister Lim Hui Ying must provide a clear explanation and justification for these price increases, addressing the reasons for the rise and offering assurances that they are necessary.
"Asking policyholders to contact insurance companies directly to apply for the Medical Premium-Sharing measure significantly increases their burden.
"This introduces several problems, including uncertainty about whether there will be a clear written record of these requests, whether insurance companies are equipped to process large volumes of applications efficiently, and whether these critical issues were fully considered before launching the policy," he said.
He said the current approach from the minister only exacerbates the public’s frustrations.
"It also risks making it easier for insurance companies to delay or procrastinate in finding more effective solutions," he added.
Low said the government must not repeatedly shift responsibility onto the people, especially when it comes to policies that affect public welfare.
"When school bus fees increase, the Ministry of Transport asks parents to negotiate with the school bus companies; when insurance premiums rise, the Ministry of Finance directs people to contact the insurance companies themselves.
"Does this shirking of responsibility truly reflect the spirit of 'people-centred' governance, a narrative that has been repeatedly pushed but not fulfilled?" he questioned.
He said the government needs to adopt a more comprehensive and forward-thinking approach when formulating significant policies, to avoid creating further problems due to lack of detail in implementation.
"Without long-term solutions, this 'premium crisis' may repeat itself in just three years.
"What policyholders need is a fair, transparent, and sustainable premium system. Only through long-term planning and comprehensive consideration of relevant policies can the government fulfil its commitment to the people and resolve the issue of skyrocketing premiums once and for all," he added. - January 15, 2025
