The Transmed Medical Scheme has failed to maintain its solvency ratio at or above 25%, the minimum statutory prescribed level in the Medical Schemes Act. This was revealed in the 2021 Council for Medical Schemes Industry Report released last week, which reports that Transmed’s solvency ratio dropped to 19.72% in 2021 from 22.37% in 2020.
Maladministration may have been a main cause of Health Squared’s ‘financial ruin’ The solvency ratio of Health Squared Medical Scheme plummeted to 6.04% in 2021, from 17.32% in 2020. The CMS report said Health Squared had an average of 29 549 beneficiaries in 2021. The scheme is now currently under provisional curatorship and its board of trustees has launched a high court application to liquidate Health Squared.
Discovery delays 2023 medical aid increases to April “We also saw a decrease in screening activities in 2020, which will affect the downstream costs, because early detection results in less costs and better clinical outcomes. “The industry is still in a surplus position and I don’t think it’s worrying at this point in time,” she said.
I suspected it had something to do with the age and demographic profile of the client base. Harder to take PI in line with inflation where people have even given up basics already in with all the belt tightening that has been happening.