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Discovery Health employee quits after leaked recording shock
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People are leaving medical schemes and ditching pricier options
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The National Income Dynamics Study Coronavirus Rapid Mobile Survey revealed that of the three million South Africans who lost their jobs between February and April 2020, two million were women. Pat Magadla, senior business development manager at Old Mutual Investment Group, says this is particularly a risk for single-income families in South Africa, who are most likely headed by a single mom. “Not only are women at a serious economic disadvantage to start with; single mothers in particular also shoulder enormous responsibility for the wellbeing and financial security of their families – with little or no help,” says Magadla.
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This report focuses on Medical Aid Funding, and includes information on the state and size of the sector, developments and corporate actions of its major players, and influencing factors including regulation and the effect of the coronavirus pandemic.
There are profiles of 31 companies including major administrators such as Discovery Health, Medscheme and Momentum Health, restricted schemes such as the Government Employees Medical Scheme, South African Police Service Medical Aid and Sasolmed, and open schemes such as Bestmed and Medshield.
Medical Aid Funding:
South Africa spends more on private health insurance as a percentage of total health expenditure than almost any other country. Although the sector performs a critical role in the health system, medical scheme membership remains out of the reach of over 85% of the population. Although the details remain unclear, the implementation of the National Health Insurance Fund will invariably aff
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