Medical schemes regulator says rules may be bent for Covid-19
Medical schemes worry about holding on to members, as companies and individuals grapple with the economic fallout of the lockdown
The medical schemes regulator says it will temporarily relax rules to allow the industry to implement measures aimed at retaining members in the face of Covid-19, which threatens the affordability of cover for employers and consumers alike.
The Council for Medical Schemes (CMS) has issued an industry circular saying medical schemes can apply for exemptions to the Medical Schemes Act to launch lifelines such as contribution holidays, or access their medical savings accounts to cover premiums. The R160bn medical scheme market covers about 8.9-million members, most of whom are subsidised by their employers...