BNM TO BRIEF MPS ON MEDICAL INSURANCE PREMIUM HIKE

KUALA LUMPUR, Dec 9 (Bernama) -- Bank Negara Malaysia (BNM) will hold a closed-door briefing for government and opposition Members of Parliament in Parliament tomorrow to address concerns over the rising cost of medical insurance premiums. 

This was confirmed by Sim Tze Tzin (PH-Bayan Baru), who stated that the briefing will involve BNM representatives clarifying the approval processes for premium hikes. 

"Every time there is a price hike (in insurance premium) they need BNM's approval. So we want to understand the criteria for these approval and how decisions are made, whether BNM will approve or not it depends on their (insurance companies) presentation to BNM. 

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"We hope tomorrow's session will provide us with greater clarity on these issues," he told a press conference at Parliament building here today. 

Earlier, Sim and several PKR MPs raised the issue of increasing insurance premiums following public pressure to review the skyrocketing private hospital charges as well as unreasonable charges.

Also present were Jimmy Puah Wee Tse (PH-Tebrau), Dr Taufiq Johari (PH-Sungai Petani), R. Yuneswaran (PH-Segamat), Chiew Choon Man (PH-Miri) and Senator Amir Ghazali.

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The MPs in a joint statement announced that they had received 197 complaints from citizens nationwide, including about high private hospital charges.

"We also received feedback from several medical experts with decades of experience in private hospitals.

"They believe that among the reasons for the increase in private hospital charges are inappropriate hospital admissions, the implementation of excessive procedures, unnecessary examinations involving MRI (Magnetic Resonance Imaging) scans, CT (Computed Tomography) scans and PET (Positron Emission Tomography) scans," he said.

Other factors that also contribute to the increase in costs include the increasing amount of compensation awarded by the courts in medical negligence cases. 

Therefore, the members of Parliament urged the Ministry of Health (MOH) and BNM and stakeholders to establish a joint taskforce to investigate and find a sustainable solution to the issue of increasing medical insurance premium rates and private hospital charges, in the interests of private hospitals, insurance companies and the people.

-- BERNAMA