Healthcare Commission Increase

The Council for Medical Schemes announced a 9.6% increase in the maximum commission payable to registered healthcare brokers. This puts them on par with government employees who also receive increases way above the inflation rate.

The new maximum is R80, or 3% of contributions, whichever is the lesser. Nogal!

I joined the financial services industry in 1977, and have a fair bit of experience. When it comes to healthcare choices, I rely entirely on my adviser to guide me as the options are far too complex for me to make an informed decision on my own.

Why healthcare brokers should be discriminated against in this manner is beyond me. I was hoping that the Retail Distribution Review would rectify this anomaly, but it appears not to be the case.

Why? I really do not know.


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