Accra:Etiqa Insurance and Takaful emphasized the importance of collaboration among healthcare stakeholders, including insurance and takaful providers, as outlined in Budget 2027, to enhance healthcare affordability and control rising medical costs.

According to BERNAMA News Agency, Kamaludin Ahmad, the group chief executive officer of Etiqa, urged healthcare providers to build on government initiatives by developing concrete measures to address medical cost inflation and strengthen the healthcare ecosystem. He highlighted the promotion of medical insurance and takaful, as well as incentives for small and medium enterprises to offer medical coverage to employees. Additionally, individuals can withdraw funds from their Employees Provident Fund (EPF) to facilitate medical coverage.

Kamaludin also emphasized the significance of adopting electronic medical records to enhance transparency and reduce unnecessary tests, thereby containing costs. Moreover, the standardization of charges and fees was identified as a crucial measure for transparency, allowing patients to understand and question healthcare expenses.

He noted that the initiatives in Budget 2027 could enable Etiqa to broaden its customer base and extend protection to more people, while maintaining sufficient margins for sustainability. The focus, he said, is on expanding services and coverage rather than immediate financial returns.

Prime Minister Datuk Seri Anwar Ibrahim announced during the Budget 2027 presentation that the government would introduce the MediAsas plan in January 2027. This plan, designed by Bank Negara Malaysia and the Ministry of Health, aims to provide affordable private healthcare coverage. The government will subsidize the first-year premium by RM200 per employee for eligible SMEs, with a cap of 50 employees per company, potentially benefiting up to 200,000 workers. EPF members under 55 will also be able to use their Akaun Sejahtera savings to pay MediAsas premiums.