Malaysia will launch the MediAsas health insurance plan in January 2027.
Prime Minister and Finance Minister Anwar Ibrahim announced the plan as he tabled Budget 2027 on 9 October.
He said the plan will come at an affordable price. However, the speech did not disclose premium rates.
Under MediAsas, hospital payments will follow the type of diagnosis and treatment a patient receives.
The Prime Minister said the aim is to bring costs under better control and make them easier to predict.
Employees Provident Fund (EPF) members under the age of 55 can also choose to pay their MediAsas premiums through Akaun Sejahtera.
In addition, SMEs with fewer than 75 employees will get help with premium costs.
The government will subsidise first-year premiums by RM200 per employee, capped at 50 employees per company. Overall, it expects up to 200,000 employees to benefit.
Meanwhile, the budget aims to make private treatment costs more transparent.
From 2027, private hospital bills will use uniform and transparent charge categories.
The government said this will help patients understand each charge and reduce price distortions.
Electronic medical records will also be expanded based on the principle of one individual, one record.
Featured image: Edited by Fintech News Malaysia, based on image by Bank Negara Malaysia (BNM) and Magnific.
