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Mediclinic News : Massive increase for discovery medical aid premiums in 2017

Title

Massive increase for discovery medical aid premiums in 2017

Date

2016-09-21

Link

News Description

BUSINESS TECH Discovery Health is the biggest medical scheme on the open market with over 2.7 million members. The group warned earlier this year that premiums would be going up due to significantly higher claims than in previous years. The group said that the entire industry has seen increased use over the past year, and warned that policies would have to be revised to keep the schemes sustainable. Notably, Discovery said it would look at tightening its hospital network, and working to be more regionally efficient. According to a note by Global Credit Ratings last week, open medical schemes saw an overall operating deficit in 2015 due to a high rate of claims, and were forced to dip into their reserves to keep the system going. Claims in 2016 are expected to be even higher, hence the steep increase seen in Discovery. The increases will take effect in January 2017.
Created at 2016/09/27 11:41 AM by Mediclinic
Last modified at 2016/09/27 11:41 AM by Mediclinic