RM60M fund to launch affordable health insurance by 2027

ByEnigma 808

Bank Negara Malaysia (BNM) announced that the design for the new base medical and health insurance/takaful product, part of Budget 2026, will be finalized by the end of 2025 and is set to launch in 2027. The government and industry are contributing RM60 million to fund the initiative, aimed at controlling medical costs and enhancing protection for Malaysians.

Prime Minister Datuk Seri Anwar Ibrahim also revealed that a RM60 million joint fund will be created to offer affordable basic insurance products and implement the diagnosis-related group (DRG) system.

To boost insurance participation, tax relief of up to RM3,000 for life insurance or takaful premiums will now also apply to children.

Additionally, BNM’s iTEKAD social finance initiative has been expanded, with a RM35 million matching grant to support vulnerable groups, encourage entrepreneurship, and create job opportunities.

 

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    Besides writing and being a content creator, Enigma 808 sometimes likes to watch paint dry on walls, listening to ASMR while timing snails racing. Such is life.