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".)

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