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Tag Archives | CMS

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CMS offers Advanced Trustee Training in partnership with GIBS

The Council for Medical Schemes (CMS), in partnership with the Gordon Institute of Business Science (GIBS), has introduced Advanced Trustee training. The training is aimed at medical schemes’ Board of Trustees, principal officers, fund managers and any other scheme personnel who would like to increase their knowledge on the business of medical schemes. According to […]

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Medical

CMS Circular 18 of 2019: Status update on Demarcation Regulations and a Low-Cost Benefit Package

The current exemption of indemnity products that are doing the business of a medical scheme expires on 31 March 2019. Entities that were granted exemption on their indemnity products in 2017, should submit renewal applications, which will be evaluated on merit, to extend the exemption period to 31 March 2021. The Council for Medical Schemes (CMS) mentioned that details […]

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annual-report

CMS Annual Report 2016/17

The Council for Medical Schemes (CMS), regulator of the medical schemes industry, released its Annual Report for 2016-2017 on 5 October, providing a comprehensive report on the status of the private medical schemes industry in South Africa. Some of the interesting statistics in the report include: Number of medical schemes and beneficiaries The total number of […]

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cpd

CPD Revisited

A reader recently wrote: I provide training on behalf of a registered medical scheme to accredited brokers on medical scheme benefit options, underwriting and processes.  I recently attended a broker training session at the Council for Medical Schemes (CMS) and was awarded 4 CPD (Continuous Professional Development) points for attending the training.  That made me wonder […]

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Debarment Overturned

ConCourt Judgement on medical schemes savings accounts

Following numerous enquiries for clarity on the implications of the recent Constitutional Court judgment regarding the correct accounting treatment of medical schemes members’ personal savings accounts (MSA), the Council for Medical Schemes (CMS) published an explanatory media release. Effect on medical schemes and administrators Medical schemes members’ personal savings funds need not be accounted for […]

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medical

CMS comment on Constitutional Court Judgement

The Council for Medical Schemes (CMS) has noted the Constitutional Court judgement on the appeal matter brought by Genesis Medical Scheme against the Registrar of Medical Schemes and the CMS. The Constitutional Court’s ruling, in favour of Genesis Medical Scheme, that funds in medical scheme members’ personal medical savings accounts (PMSA) can be treated as […]

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script

National Credit Regulator and CMS under Twin Peaks

In a report of the Standing Committee on Finance on the Financial Sector Regulation (Twin Peaks) Bill the committee touched on the possibility of duplication in regulation, not only in terms of the NCR, but also as far as the Council of Medical Schemes Council (CMS) is concerned. The place and role of the National […]

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medical

CMS Fees Increase

The Council for Medical Schemes published Circular 57 of 2016 containing details of a number of fees increases, some of which are: Application for registration of a medical scheme: R8 750.00 (Current Fee: R5 000.00) Application for accreditation or renewal of accreditation as an administrator contemplated in Section 58(4) of the Act: R14 000.00 (Current Fee: R10 000.00) Application […]

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medical-aid

CMS Guidance for 2017

The Council for Medical Schemes’ “Circular 48 of 2016: Guidance on benefit changes and contribution increases for 2017” contains the requirements for the assessment of the benefits and contributions for 2017. Apart from prescriptions on the manner in which funds should apply, it also contains key considerations which the CMS will take into account when […]

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