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Moneyweb reports that many medical aid schemes have announced how much members will pay for their medical cover in 2021 and most of them have limited their increases to around official consumer price inflation.
While the Council for Medical Schemes (CMS) urged schemes to limit increases in member contributions to the general inflation rate of 3.9% or close thereto, most schemes have adjusted their rates by a little more. Discovery, which operates the largest medical aid scheme in SA, told its members that lower claims in the first half of 2020 meant “there will be no increase to your medical aid premium in the first half of 2021”. Bonitas, the second largest open scheme, announced that its premiums for 2021 would increase by an average of 4.6% across all it different plans, but that the premiums of some of its options would not increase at all. Momentum Medical Scheme, the third largest open medical aid scheme, said its premiums would increase by 3.9% in 2021 on a weighted average basis. Medshield told its members that monthly contributions would increase by an average of 5.9% over its product range. This was somewhat higher than the increases claimed by other medical schemes, but not as high as the average increase of 8.6% announced by FedHealth Medical Aid.
- Read the full original of the report in the above regard by Adriaan Kruger at Moneyweb
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