Second-biggest open medical scheme to raise premiums next year
CAPE TOWN — Bonitas Medical Fund will increase premiums on all its options 11.9% next year after lifting them 7.2% this year and 10.6% in 2015.This new fund, created by the merger of Bonitas and Liberty Medical Scheme, comes into effect on October 1, making it the second-largest open medical scheme after Discovery Health.Discovery Health is to raise its premiums by a weighted average of 10.2% in January, slightly higher than the 8.6% weighted average increase it implemented in 2016. Members belonging to different options will face contribution increases of between 7.8% and 14.9%.Momentum Health medical scheme announced last week that its members would face a weighted average increase of 11% next year. Option increases would range from 8.9% to 15%, it said.Open medical schemes permit anyone who can afford their premiums to join, while restricted schemes limit membership to employer groups or specific professions.Bonitas’s increase is in line with expectations. Medical schemes and act...
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