Africa-Press – South-Africa. Major medical schemes Discovery, Momentum and Bonitas all announced sizeable increases in their membership fees for 2024.
The weighted increase across the Discovery Health Medical Scheme plans will be 7.5% – with some 27% of its members seeing an increase of more than 10%. Its Executive (+12.9%) and Coastal Core (+12.9%) plans will see the biggest hikes, while its Classic Saver plan will be increased by only 3%.
Momentum Medical Scheme’s weighted average increase for 2024 will be 9.6%, while Bonitas Medical Fund plans to implement a weighted increase of 6.9% across its nine plans.
The membership fees will be take effect at the start of January 2024.
“As the administrator of medical schemes with almost three million members, we have seen claims costs increasing to higher than pre-Covid-19 levels. At the same time, inflation means that the average cost per claim has also increased notably,” Damian McHugh, chief marketing officer for Momentum Health Solutions, said.
Dr Ryan Noach, CEO of Discovery Health, said its medical scheme continues to incur Covid-19 costs, which ran to R700 million last year. So far this year, some 3 500 Discovery members have been admitted to hospital with Covid.
Meanwhile, Bonitas saw a 25% increase in the number of mental health hospital admissions, and said that mental health problems – particularly in the 18 to 44 age group – is at an all-time high.
“This is exacerbated by factors such as an increased economic burden and increased psycho-social challenges, such as load shedding,” the group said. Bonitas has included depression as a chronic condition in its plans.
Noach says large interest rates hikes have hit its members particularly hard. Discovery data shows that there is a strong correlation between high interest rates and younger members “prioritising other living expenses over the medical insurance contributions”.
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