A new trend among medical aid members has taken hold in South Africa, and it’s posing a significant risk to schemes.
Hospital and medical group Netcare has flagged a new trend where existing scheme members are downgrading due to cost pressures in South Africa.
As part of its interim results for the 2024 financial year, the group noted that the macroenvironment in South Africa remains “challenging”. Making matters worse, Netcare flagged disposable income pressures impacting self-pay activity, while high scheme contribution increases in 2024 likely to have a continued adverse impact on pool of funds.The high cost of medical aids in South Africa is one of the key criticisms levelled against the industry by the government, and often cited as a big reason the country needs to reform healthcare.
Under the NHI, medical aids will not be able to provide coverage for anything the NHI covers, with the state being the single purchaser of services in the country.
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