OJK Immediately Issues Rules Related To Health Insurance Products

Illustration. (Photo: Doc. Antara)

JAKARTA - The Financial Services Authority (OJK) said that it plans to issue regulations related to health insurance products in the first quarter or second quarter of this year.

"OJK will ask for responses to the draft regulations both to the public and industry players," said OJK Chief Executive of Insurance, Guarantee and Pension Fund (KE PPDP) Ogi Prastomiyono in Jakarta, quoted by Antara, Thursday, January 23.

Ogi explained, several main points that will be regulated include corporate criteria that can market health insurance products as well as types and provisions for health insurance products.

Then, another point is the implementation of risk management in companies that market health insurance products, the benefit coordination feature (coordination of benefits) with BPJS, medical advisory boards, and cooperation agreements with other parties.

OJK said that the ratio of health insurance claims to life insurance and general insurance has decreased based on data as of November 2024. This, noted the OJK, indicates that there has been improvements in this insurance business line.

However, the OJK continues to encourage improvements made in the health insurance business line to be carried out by not forgetting good service to consumers.

"OJK hopes that this positive trend will continue in 2025 so that people will still be able to enjoy the benefits of health insurance where OJK is formulating the OJK SE in the health insurance sector which aims to make health insurance governance even better," said Ogi.

As for health insurance and critical disease insurance, note OJK, it is a type of flagship insurance product currently owned by life insurance. The existence of life insurance will help people be protected from various risks, especially financial risks related to death and critical illness.

To ensure that life insurance remains robust in facing challenges, Ogi said that OJK continues to monitor to ensure insurance companies run their business with good governance, for example with good underwriting management, including to avoid fraud and non-disclosure risks.

"OJK encourages the risk selection process to continue to be carried out which prioritizes the principle of utility good faith so that there is justice for customers who have life insurance. Strengthening underwriting is one of the important points in the draft SE OJK regarding health insurance," said Ogi.