Discovery Health Medical Scheme has announced an average contribution increase of 7.5% across all benefit plans for next year. CEO of Discovery Health, Ryan Noach, said the price increase will be effective from January 1, 2024.
He said while the long-term sustainability of DHMS is paramount.
"We remain extremely sensitive to the economic environment and affordability pressures that scheme members are currently facing. We are keenly aware of the far-reaching impacts of increasing inflation, high interest rates and low GDP growth on households and businesses in our country. With this in mind, we strive to maximise value for members of the Scheme whilst maintaining the long-term sustainability of the medical scheme," Noach said.
Discovery Health Medical Scheme gross contribution increases for 2024 on the following benefit plans:
Executive: 12.9%
Comprehensive (excluding Classic Smart Comprehensive): 11.9%
Priority: 9.9%
Classic Saver (Delta and non Delta): 3%*
Essential Saver (Delta and non Delta): 3.8%*
Coastal Saver: 6.3%*
Core: 9.9%
Coastal Core: 12.9%
Smart: 8.9%
KeyCare Plus: 10.9%
KeyCare (excluding KeyCare Plus): 9.9%
*The increases for the Saver options above are net of the changes in the Medical Savings Account (MSA) allocations for 2024, which are as follows:
Classic Saver and Classic Delta Saver: 20% allocation to MSA
Coastal Saver: 15% allocation to MSA
Essential Saver and Essential Delta Saver: 10% allocation to MSA
The Classic Smart Comprehensive has been redesigned for 2024.
The Classic Delta Comprehensive, Essential Comprehensive and Essential Delta Comprehensive benefit options will be consolidated into the Classic Comprehensive and Classic Smart Comprehensive benefit options in 2024.
IOL