KUALA LUMPUR (March 11): Bank Negara Malaysia (BNM), in collaboration with the Ministry of Health (MOH) and the Employees Provident Fund (EPF), will take steps to develop basic health insurance and takaful products that emphasise the concept of value-based healthcare, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.

“This initiative is part of the national health sector reform effort that needs to be implemented immediately to ensure access to more sustainable medical treatment,” he said in a statement.

The increase in medical cost inflation, which had caused a continuous increase in health insurance and takaful claims, was among the matters discussed at the Naccol Executive Committee Meeting No 1 of 2025 on Tuesday, which was also attended by Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali and his deputy Dr Fuziah Salleh, senior ministry officials, state government representatives, industry and non-governmental organisations.

To address the issue, several measures have been identified to curb the increase in medical and health insurance and takaful premiums, including the distribution of premium adjustment rates, deferral of premium adjustments, reactivation and provision of alternative products.

Zahid said the national health sector reform initiative also needs to be expedited within a three-year period, from 2024 to 2026.

Meanwhile, he said the meeting also reviewed the Social Security Organisation’s (Socso) initiative in strengthening social protection and job matching to reduce the income gap among the people.

Among the initiatives that will be enhanced include efforts to ensure more efficient job matching, providing incentives to employers for hiring workers from groups that are more in need, as well as strengthening social protection to provide better economic security for workers and their families.

“The government remains committed to implementing various initiatives to address the cost of living challenges, including through income enhancement programmes, cheap sales and cash assistance.

“These measures are part of ongoing efforts to ensure that the well-being of the people continues to be guaranteed in the face of current economic challenges,” Zahid said.

Meanwhile, the deputy prime minister said the government will expand the cheap sales programme to help the people get essential goods at more affordable prices ahead of the festive season.

Zahid, who is also the chairman of the National Action Council on Cost of Living, said that the cheap sales programme includes the Rahmah Madani Sales, Pre-Syawal Sales at Farmers' Markets and Agro Madani Sales.

"The Ministry of Agriculture and Food Security has guaranteed that the supply of 11 main agro-food items, including rice, coconut, chicken and chicken eggs, will be sufficient throughout Ramadan and preparations for Hari Raya Aidilfitri," he added.

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