The term repricing here is on the increase of premium that the policy holder has to pay in the coming years as the result of the rising of medical cost inflation up to more than 50 percent since 2021. Three main factors have been identified to this increase. (1) rising cost of medical treatments (2) use of new technologies (which is in my view supposed to be cheaper? but in medical terms, the prime purpose, I suspect, is to cure illness rather than to reduce cost) and (3) increase demand for the use of private medical services (not sure whether this medial tourism where Malaysia is famous for in one of the reason for this increase). The recent implementation of co-payment option of insurance or co-takaful medical plan can help maintaining the pricing of the premium. In respect of Takaful to my knowledge the existing takaful certificate holders may not be affected by this repricing unless there is a mechanism to do so, such as mutual agreement or provision of the effective contribution based on ceiling rate etc. Anyhow the best way to avoid additional cost to your health care is to stay healthy.
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