PROFILE: Insuring lives with Health Squared chair Steve Thobela
At first it was all about succeeding in business, but now his attitude has changed: he wants to be remembered for doing his best to serve humanity
Steve Thobela, board chair of new medical aid scheme Health Squared, wears many hats. He made his mark in the printing industry, sits on the boards of 12 companies — and leads a church. Thobela took up his position at Health Squared last month. The company was formed after the merger of Spectramed and Resolution Health and he is determined to make it a force in the competitive medical aid scheme industry. He certainly has his work cut out in a market served by 22 open medical schemes, in a sector dominated by giants including Discovery, Bonitas and Momentum Health. Health Squared has 45,000 members and R210m in reserves. It is up against stagnant growth in insured lives in SA, which has been at 8.8-million lives since 2014. It also faces impending regulatory changes proposed in the Medical Schemes Amendment Bill and the expected introduction of national health insurance by the government. These and other challenges are what led to Spectramed shopping around for a partner, settling o...
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