KUALA LUMPUR, Nov 20 — Malaysia is committed to providing affordable healthcare and medical protection plans to address rising medical costs as its population ages, Deputy Finance Minister Lim Hui Ying said today.

According to the New Straits Times, Lim highlighted the government’s concern about the financial challenges faced by the M40 group, particularly as they contend with increasing medical insurance premiums.

"The government is always concerned about the issues faced by the M40 group, including the rising cost of medical insurance premiums as they age,” she said in response to a question by Chiew Choon Man (PH-Miri) in Parliament.

The M40 category refers to the middle 40 per cent of Malaysian households, comprising about 3.16 million families with incomes ranging from RM5,251 to RM11,819.

Malaysia is expected to become an aged nation by 2040, with over 17 per cent of its population aged 60 and above, according to the Department of Statistics Malaysia (DoSM).

Lim added that the government aims to enhance the i-Lindung insurance programme, offering improved medical protection plans to Employees Provident Fund (EPF) members at affordable premium rates.

The i-Lindung is a self-service platform on i-Akaun, enabling EPF members to purchase insurance and takaful products under the EPF members’ protection plan.

Lim noted that 144,589 EPF members have utilised Akaun Sejahtera, formerly known as Account 2, to purchase protection products through i-Lindung. The initiative includes life and critical illness protection plans offered by five insurance operators.

"The government welcomes the proposal and is committed to thoroughly reviewing it,” she said, responding to Chiew’s supplementary question on whether subsidies and negotiations with insurance firms could make i-Lindung coverage more affordable, particularly for individuals up to age 99.