Rob Rose Editor: Financial Mail

You might not know it from its slick new R3bn head office in Sandton, but the Discovery Health Medical Scheme has had a rough year. Last year, SA’s largest open medical aid scheme collected R64.4bn in contributions from its 2.8-million members.

But after deducting costs like "administration" and broker fees, it turned in a negative R352m as a "net health-care result". Thankfully, it made some handy investment income, which allowed it to post a surplus of R816m — effectively the "profit" made by the medical aid. (Because medical schemes are "not for profit" entities, the quaint terminology used cloaks a profit as a "surplus", and speaks of a loss as a "deficit".)..

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now