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A Fin24 user wants to convert a life policy to boost her retirement savings.
Policy lapse rates at Discovery Health Medical Scheme have remained low during the year to June, with 98% of members remaining on the same plan or upgrading.
Discovery Health Medical Scheme members are demanding an independent review of the administrative fees paid to the company, according to a report.
Discovery Holdings expects double-digit growth in its full-year headline earnings.
Health insurer Discovery Holdings says all its entities maintained strong performance in line with expectations in the nine months to March.
Health insurance group Discovery will from June offer short-term insurance, promising to liven up the market which is worth an estimated R50bn.
Discovery says that normalised headline earnings per share for the six months ended December 2010 are expected to be between 20% and 30% higher.
A new tool which identifies “phantom drug” prescriptions by mining data made it possible for Discovery Health to recover R250m in fraudulent claims last year.
Discovery has weathered the financial crisis better than some rivals as it focused on health insurance, but still missed analysts profit expectations.
Health insurer Discovery Holdings has reported a 32% rise in operating profit for the year.
Plans to introduce a national health insurance scheme is likely to eat into the R90bn private health insurance sector.
Former director general Ayanda Ntsaluba has been appointed an executive director of Discovery Holdings.
SA's largest health insurer Discovery has reported a 16% drop in first-half earnings, which were hurt by the cost of acquisitions.
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