OJK Finalizes New Regulation on Health Insurance

The Financial Services Authority (Otoritas Jasa Keuangan– “ OJK ”) continues to develop a co-payment scheme in drafting Regulation of OJK on Strengthening the Health Insurance Ecosystem. OJK’s Chief Executive of Insurance, Guarantee, and Pension Fund Supervision, Ogi Prastomiyono, assured that the resulting regulation will be balanced and support the sustainability of health insurance industry.

“The input received continues to be taken into consideration in finalizing the regulation,” said Ogi to Hukumonline.

The risk-sharing percentage, previously referred to as co-payment, will be reduced to 5 percent. Nevertheless, companies will still be allowed to offer products with a risk-sharing scheme.

This provision affirms that consumers will always have two options: to choose a product without co-payment, which has a relatively higher premium, or a product with co-payment, which has a lower premium.

“So, if this regulation is promulgated by the end of 2025, we expect this OJK Regulation to start being implemented by early April,” said Ogi.