Your medical scheme’s reserves could be costing you money

accreditation
Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Cape Town - Your medical scheme contributions go up sharply every year, and yet the law requires that your scheme has 25% of contributions in a reserve fund. Isn’t it time this changes?

READ: Sharp increases for medical scheme members

Medical schemes are required to have a quarter of members’ contributions in reserve, according to Regulation 29 of the Medical Schemes Act of 1998. Schemes were given until 31 December 2004 to achieve this, and many schemes took several years to build their reserves up to the required level of 25%.

Support independent journalism
Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
15.70
-0.3%
Rand - Pound
19.62
+0.0%
Rand - Euro
16.72
+0.5%
Rand - Aus dollar
11.06
+0.6%
Rand - Yen
0.12
-0.1%
Gold
1,852.74
-0.7%
Silver
21.85
-1.2%
Palladium
2,000.00
-0.4%
Platinum
942.00
-1.5%
Brent Crude
113.56
+0.1%
Top 40
60,579
-1.0%
All Share
67,028
-1.0%
Resource 10
73,388
-1.3%
Industrial 25
71,762
-0.0%
Financial 15
15,495
-1.9%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot