As more people downgrade to cheaper medical aid options and and dump medical aids, medical schemes look to low-cost medical insurance products as an area of growth. | Fin24
As more people downgrade to cheaper medical aid options and and dump medical aid, medical schemes look to low-cost medical insurance products as an area of growth.Financially strapped South African consumers have been downgrading their medical scheme options or forgoing medical aid altogether in the past few years, data shows. And now, with interest rates rising, ballooning grocery bills and runaway fuel prices, medical schemes are keenly watching their membership numbers.
An increasing number of medical schemes are looking at low-cost or affordable health insurance products for growth. Momentum Health Solutions, which hosted its annual healthcare insights seminar this week, believes this is the area for growth. Its low-cost medical insurance, Health4Me, has grown members from 17 730 in 2012 to 153 374 in 2021, a compounded annual growth rate of 24.3%. The average growth rate over the last four years was 18%.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
German consumer confidence hits record low on energy woes | The CitizenA survey found that Germans were significantly more pessimistic about the prospects for the economy than before.
Read more »
Tunisian officials say new constitution passed in vote with low turnoutA new Tunisian constitution giving far more power to President Kais Saied passed in a referendum with a 30.5% turnout, the electoral commission said on Tuesday, tightening his grip in what critics fear is a march to a new era of autocracy.
Read more »
Tunisia approves new constitution in vote with low turnout | The CitizenMonday's vote came a year to the day after the president sacked the government and suspended parliament.
Read more »
Dollar wallows near 6-week low to yen on view Fed to slow hikes - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The dollar languished near a six-week low to the yen amid a sharp retreat in Treasury yields after investors interpreted a shrinking US economy as one more reason for the Federal Reserve to ease its foot off the tightening pedal.
Read more »
Dollar near 3-week low as Fed's Powell less hawkish than feared - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The US dollar languished near a three-week low to major peers on Thursday after Federal Reserve Chair Jerome Powell assuaged trader worries about continued aggressive monetary tightening.
Read more »