JOHANNESBURG - Bonitas Medical Fund (Bonitas) on Wednesday
After a
challenging year for the healthcare industry, the contribution increase for
2018 would be a weighted increase of 8.7%, with increases on the various
options range from 7.9% to 9.9%.
Principal Officer,
Gerhard Van Emmenis said despite increasing healthcare inflation and economic
pressures in the past year, robust cost-containment initiatives have enabled
Bonitas to keep the weighted average contribution in single figures for 2018. The increase was
the lowest seen from the Fund in recent years – clearly signalling its good
financial health. Last year, speculation was rife, following Bonitas’
amalgamation with LMS Medical Fund. However, the impact of this has been
negligible.
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“Money saved
through innovative strategic measures allowed Bonitas to emerge in a stronger
financial position despite industry challenges. This resulted in a reduction in
the overall net deficit experienced by the Fund, reducing it from R205.5
million in 2015, to R16.9 million in 2016,” said Van Emmenis .
“As one of the
largest and most stable medical schemes in South Africa, our mission is to
make quality healthcare more affordable and more accessible. ‘We have,
therefore, focused on balancing costs while ensuring our members continue to
receive rich benefits,” said Van Emmenis.
Van Emmenis said it’s
been a difficult few years for the healthcare industry, with medical schemes
facing several challenges including economic pressures and escalating
healthcare costs. In addition, medical schemes have to comply with the strict
parameters of the Medical Schemes Act. In spite of this,
the Fund recently announced that its reserves have been bolstered to
R3.1 billion and
it has also seen a significant growth in membership. “Last year, we
successfully concluded the largest amalgamation in the industry with LMS
Medical Fund. This will continue to have a favourable impact on our membership
as a whole, as a larger scheme is in a better position to negotiate tariffs in
favour of our members,” said Van Emmenis.
The relatively
low increase has not led to a reduction of benefits but rather an enhancement. “We’ve
looked at the needs of our members and South Africa as a whole to introduce
several new benefits in 2018. This includes a benefit for contraceptives and a
mental wellness programme, among others”.
“Increases are
unfortunately inevitable given the high healthcare costs and inflation but we
strive to keep premiums as affordable and accessible for all. Some of the
benefits have been tweaked, others increased but all aimed at helping members
take control of their health and lead better lifestyles and with South African
socioeconomic factors in mind,” said Van Emmenis.