Momentum Health to delay medical scheme contribution increases until September 2022
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MOMENTUM Health Solutions has announced that it would defer its medical scheme contribution increase until September 2022 with its main focus on finding ways to help embattled consumers regain their financial and wellness momentum.
Momentum Medical Scheme said by that date it planned to only increase contributions by 6 percent, which equated to just a 2 percent increase for the year. This while still increasing benefit limits and introducing new benefits across its six options, such as enhanced maternity benefits on the Ingwe Option and adding virtual doctor consultations to the Evolve Option, it said.
Damian McHugh, an executive at Momentum Health Solutions, said, “Momentum Medical Scheme’s robust performance throughout the pandemic and stable financials enabled the scheme to assist members in the most impactful manner possible, which is to not announce a contribution increase at the end of 2021.
“Although medical inflation continues to increase, and new medical procedures are adding healthcare costs that the scheme has not previously had to make provision for, we believe that the scheme is in a position to delay the increase in contribution required, to ensure the scheme’s long-term sustainability, until September 2022. The calculations forecast that such relief could immensely benefit consumers, as they bounce back from reduced income or loss of income in many cases,” he said.