Collectively, more than R60 billion is held in the reserve funds, which could be released for the treatment of South African Covid-19 patients – whether they are medical scheme members or not. busrep coronavirus
KHUSA Consulting executive director Adrian Parsons said that by law, medical schemes had emergency fund reserves amounting to at least 25 percent of members’ contributions.
He said “legislatively”, this money belonged to medical scheme members, but these were extraordinary times and it might be argued that it was in members’ best interests to contribute to a safe, healthy environment and the rebuilding of the South African economy.
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