Everything You Need to Know About the New Mediasas Insurance Plan

Prime Minister Datuk Seri Anwar Ibrahim has officially tabled Belanjawan 2027. With a massive RM459.8 billion allocation, the government's goal is to boost our economy, put more money in your pocket, and make healthcare easier to access .

Here is a quick breakdown of what this means for you:

More money in your pocket

Starting June 2027, the national minimum wage will go up from RM1,700 to RM2,000 per month .

To help fresh grads and semi-skilled workers, the government is also setting a new minimum monthly salary of RM2,500 . Don't worry, small businesses (MSMEs) with annual sales under RM50 million are exempt from this new policy for now to help them adjust .

Tax breaks and cost of living help

Good news for taxpayers: the individual income tax relief limit is jumping from RM9,000 to RM12,000—the first time this has been updated since 2010 .

You can also claim lifestyle tax relief for more things now, including:

• AI subscriptions
• Pet vaccinations
• Adoption fees from registered shelters

Plus, the Sumbangan Tunai Rahmah (STR) SARA 2027 will increase to RM150 per month, helping about 13 million people .

Better healthcare and easier credit

Starting January 2027, a new medical insurance plan called MediAsas will be available. It's designed to be affordable, and you can even get tax relief on the premiums you pay .

For those looking for credit, banks are introducing basic credit cards with a simplified structure and a capped interest rate of 14% per annum starting this month . Small businesses also get a boost with RM5 billion set aside to help them manage cash flow .

Help for families and first-time homebuyers

If you have kids in school, the early schooling assistance is increasing from RM150 to RM200 per student .

Planning to buy your first home? The government is putting nearly RM1 billion into housing projects. Even better, first-time homebuyers can enjoy full stamp duty exemptions for properties priced up to RM500,000 .