Discovery members ‘make the Smart move’, while KeyCare loses ground
The decline in KeyCare Plus membership reflects a reduction in employer subsidies and fewer mandates for medical scheme membership, DHMS says.
#solvency
Bestmed marks sixth year of membership growth
Despite economic headwinds and high claims ratios, Bestmed grew net membership by 4.4% in 2024, bolstered by strong solvency and a R164.4m surplus.
Pandemic pricing pains catch up with medical schemes – higher contributions ahead
Three medical schemes fell below the 25% solvency threshold in 2023.
KZN Treasury’s R2.4bn loan request raises more questions than answers
As the KwaZulu-Natal government scrambles to keep Ithala afloat, its urgent request for a R2.4 billion loan from National Treasury sparks confusion – especially given an earlier government guarantee.
PA report contradicts Ithala and KZN Treasury’s solvency claims
A PA-commissioned solvency report questions Ithala’s financial health, raising concerns about its equity, loan book, and potential shortfall in repaying depositors.
Ithala hits back: sharp criticism of Reserve Bank’s liquidation move
Ithala accuses the appointed repayment administrator of overstepping his authority, while the Prudential Authority moves to liquidate the entity.
Life insurers pay out R298bn as policy lapses remain a concern
ASISA advises consumers to take a holistic view of their finances and avoid hasty decisions that could leave them unprotected.
How Ithala’s licence suspension may affect clients and operations
While Ithala remains operational for existing clients, the search for a new sponsor and regulatory hurdles pose significant challenges.
Discovery’s enhanced screening benefit will be available to new members after 2024
DHMS provides an update on the impact of the WELLTH Fund and membership movements following the consolidation of the Comprehensive series.
Medical schemes experience significant drop in net results for 2022
In 2022, the industry saw a net income of R2.57 billion – down from R12.18bn in 2021 – and faced an operating deficit of R6.155bn, the largest in 23 years.
