Today's Labour News

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healthcareFin24 reports that Bonitas Medical Fund has announced a weighted increase of 8.7% in contribution costs for next year, while Discovery has announced one of 7.9%.  

The increases are the lowest seen in several years.  Last year, Bonitas announced a 10.98% average increase, and Discovery Health one of 10.2% for 2017, and most other schemes followed suit with double-digit increases.  Most of the other schemes are yet to announce their 2018 increases.  But, if the announcements from Discovery and Bonitas are anything to go by, other scheme members may also be in for lower-than-usual membership contribution increases for 2018.  Medical inflation is estimated at 8.93%, and is always significantly higher than CPI inflation, which came in at 4.8% for August.  For all schemes, the challenge lies in dealing with the rising costs of healthcare, and at the same time curbing expenditure.  A further challenge lies in keeping up with new trends in healthcare, and adjusting benefit schedules to reflect this.

  • Read this report by Susan Erasmus in full at Fin24

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