Cash-strapped middle classes cannot afford medical aid, warns Discovery
A lack of affordability means people are joining schemes like Discovery at a much slower pace
Spiralling costs that are playing havoc with middle-class incomes amid a stagnant economy are driving people to reconsider whether they should be rejoining medical aid schemes, according to the country’s biggest medical insurer.
"One of the difficulties right now is the lapse rate. Because of the state of the economy, people are dropping off a little bit quicker than they used to a few years ago," Discovery Health CEO Jonathan Broomberg said at the company’s 25th annual general meeting on Thursday.