Consumers are not feeling the value from their medical schemes
Compared to other financial services, consumers are less happy with their medical schemes, with a Consulta report showing satisfaction with the industry falling in 2018
Consumers feel they get less value for money from medical schemes than they do with other financial services, such as short term insurance, says research firm Consulta. Medical scheme members are increasingly frustrated with their rising premiums and shrinking benefits, according to its latest customer satisfaction index, released on Thursday. The industry average fell from 74.2 last year to 72.7 this year. To put this in perspective, customer satisfaction index scores for short-term insurance are typically in the mid-80s, said Consulta’s project executive PJ Claasens. Most medical scheme members only perceive the value of their cover when they face serious illness and have to submit claims for a substantial amount of money, he said. Of the five large medical schemes Consulta surveyed, only Medihelp saw an improved index score, which rose from 72.6 last year to 75.1 this year. Discovery dropped from 74.8 to 73.1 , while Bonitas fell from 73.1 to 70.2 over the period. Momentum mainta...
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