MediAsas is set for independent oversight as Bank Negara Malaysia (BNM) seeks to keep it affordable amid rising healthcare costs.
An independent board representing several stakeholder groups will oversee the proposed framework, according to Bernama.
BNM Deputy Governor Aznan Abdul Aziz noted that the framework would support regular reviews of MediAsas’ features and affordability as medical costs continue to rise.
The base medical and health insurance and takaful product entered its pilot phase at the Sasana Symposium 2026 on 29 July.
It remains on track for a public launch in January 2027.
The pilot will test enrolment, underwriting, claims, guarantee letter issuance and appointment booking.
Aznan noted that the exercise remained necessary despite earlier discussions and testing involving regulators, insurers, takaful operators and healthcare stakeholders.
The central bank expects MediAsas to serve as a benchmark for other medical insurance and takaful products and potentially influence how insurers price their wider offerings.
At least seven of the 11 initiatives under the RESET strategy have made significant progress over the past year, according to Aznan.
The work covers information and pricing transparency, medical service delivery and payment reforms, including efforts involving electronic medical records and MyEHR interoperability.
Featured image: Edited by Fintech News Malaysia, based on image by dit26978 via Magnific
