Die Beeld and www.Netwerk24.com covered the survey with the headline, “Mediese fondse: Discovery grootste, nie die gesondste”, which highlights the fact that although Discovery is the biggest they are not necessarily the healthiest.
Healthcare consultants, Grant Thornton Capital (GTC) believes that one of the most important issues to consider when a medical scheme option or plan is being proposed to a client is affordability. We at Universal Healthcare and CompCare Wellness Medical Scheme support this approach and appropriately blend our member value proposition by including factors of affordability, suitable benefits and a personal approach where we put the member at the centre of all we do.
The GTC Medical Aid Survey focusses attention firstly on the plan type being considered and secondly on the premium, with an overlay of the CMS Annual Report on scheme demographics. GTC included the following in assessing the country’s open medical schemes:
- Risk and complete annual costs per family size for the comprehensive plan range;
- Risk annual costs per family size for the balance of the plan ranges;
- Coupled with their required cover level, in and out of hospital (Core/Saver/Comprehensive);
- The need to have a Gap Cover policy;
- Overlaid by the results as depicted in the CMS Annual Report, to reflect an overall rating per plan type.
Other factors that was taken into account in their assessment of the schemes included whether there was growth in total main membership, changes in the pensioner ratio of the scheme, the relationship between reserves and premiums, and whether there were any changes in the age profile of dependents. On these grounds they allocated a percentage of how healthy each scheme is, and CompCare scored an amazing 100%!
The CompCare Wellness Medical Scheme was identified as the healthiest of all open medical schemes and therefore the most likely to be recommended by healthcare consultants!
The graph below depicts the ranking as scored by GTC in relation to the most sustainable medical schemes in the country: