FIFI PETERS: If you have medical insurance with Discovery, you may want to turn up the volume for this next story, as it affects you. The country’s biggest medical scheme administrator today announced its new tariffs that will affect your monthly contributions. On average, contributions that you pay to be a Discovery Health Medical Scheme member will cost you around 7.5% more from January next year.
So, as you correctly say, Fifi, [it is] 7.5%, which is effectively 1.5% against the rolling 12-month inflation figure based on economists’ consensus at the moment – a good increase, and well within that band of certainty that we provide relative to consumer price inflation. That portion is a very important addition to the consumer price inflation that the regulator is identifying. In paragraph 4.2 of the notice it specifically refers to these utilisation factors.
Now in the US we see various initiatives like ‘Obamacare’ [the Affordable Care Act] and others trying to mitigate this burgeoning expense, notwithstanding US healthcare now representing $1 out of every $5 in the economy.
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