How medical schemes’ R20bn cash pile benefits members
The unexpected surplus enabled schemes to defer contribution increases or levy smaller-than-usual price hikes for 2021
06 October 2021 - 05:10
The medical schemes industry reported a R20bn surplus in 2020 as members deferred treatment and lodged fewer claims during the coronavirus pandemic.
The unexpected cash pile, which was reported in the 2020/2021 report of the Council for Medical Schemes (CMS) tabled in parliament last week, enabled schemes to defer contribution increases or levy smaller-than-usual price hikes for 2021, offering relief to consumers who for the previous decade faced above-inflation annual contribution increases...
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