Advertise Here


IconAccounting & Tax
IconAccreditation Bodies
IconAssociations and Institutes
IconBBBEE Consulting and Verification Agencies
IconBusiness Process Management
IconBusiness Process Outsourcing
IconCompany Secretarial Services
IconCompare Medical Scheme Benefits
IconConsumer Protection
IconCorporate Governance
IconCredit Bureaus
IconDebit Order Collection Facilities
IconEducation and Training
IconEmergency Medical Rescue
IconExpatriate Cover
IconHealthcare Consultants
IconHuman Resources
IconInformation Technology and Software Partners
IconManaged Healthcare Service Providers
IconMedical Aid Administrators
IconMedical Aid Schemes
IconMedical Schemes Trustees Liability Insurance
IconMedical Service Providers
IconPolicy Administration
IconRegulatory Authorities
IconSurveys & Research
IconTraining Courses & Workshops
IconWellness Programs
  Subscribe To »

A medical aid revolution is coming






The findings and recommendations highlighted in the provisional report issued by the Health Market Inquiry (HMI) underline the urgent need to change the way medical scheme options are designed says Jeremy Yatt, Principal Officer of Fedhealth Medical Scheme.
“Although there is very little room to maneuver due to legislative constraints, medical schemes should find ways to empower members by addressing their concerns around affordability, transparency and flexibility,” he says.
Over the last six months Fedhealth has carried out extensive research with its member base and the overriding message is that members want to be in control; they want flexibility and they want choice.
“Members want more of a say over what their cover should be; how their daily benefits are used and they don’t want to pay for benefits they are not using. Therein lies the opportunity. There is not one medical scheme in South Africa that offers that level of flexibility,” says Yatt.
Unfortunately, medical schemes have been doing the same thing for decades, with very little differentiation between schemes.
“While many claim to be personalised to an individual, the reality is that personalisation only stretches as far as placing that individual into a generic category and benefit group that more or less fits one facet of their lives. There is little transparency and members have limited control over how their money is allocated,” he says.
Medical Schemes have also been hamstrung with legislation for many years now making it difficult for schemes to be innovative. Unlike other forms of insurance medical schemes are prohibited from rewarding or penalising members for modifying their behaviour. 
“Nevertheless, the HMI’s provisional report highlights the urgent need for change and it’s time for the medical schemes to step up to the plate. We believe it’s time for a new approach that is going to transform the industry. Watch this space,” concludes Yatt. 
Source: Cathy Findley Public Relations
« Back to previous page Print this page » |

Breaking News »

Interview with Bright Rock CEO, Schalk Malan about their ground-breaking temporary disability cover

In October 2019 Needs-matched life insurance provider, BrightRock, announced enhancements to their temporary expenses cover. Read More More recently Insurancegateway® Interviewed Schalk Malan to not only ...
Read More »


The Importance of an effective online campaign

As we enter the age of the fourth industrial revolution, a technological transformation driven by the internet, it seems almost unthinkable that the web would not be the preferred platform chosen by businesses ...
Read More »


A high road scenario for diabetes reversal

There is a growing body of research that suggests that one of the world’s most devastating illnesses, diabetes, can be reversed. Medical and nutrition experts Prof Tim Noakes and Dr Neville Wellington and ...
Read More »


Presenting your evidence in the small claims court Part 5

Proceedings in the small claims court are usually conducted in English and Afrikaans but you and your witnesses are entitled to give evidence in a language in which you are comfortable and certainly in any one ...
Read More »


More News »


Investment »


Life »


Retirement »


Short-term »

Advertise Here

From The Glossary »


Guaranteed Insurability:

Insurance provided by a life insurer guaranteeing increased cover to the insured at specified later dates without further medical evidence. This is the right of an insured to buy additional life cover from an insurer without further evidence of health or other underwriting criteria.
More Definitions »






Contact IG


Media Pack


RSS Feeds

By using this website you agree to the Terms of Use.
Copyright © Insurance Gateway (Pty) Ltd 2004 - 2019. All Rights Reserved.