LEE Callakoppen, principal officer of Bonitas Medical Fund. Picture: Supplied.
LEE Callakoppen, principal officer of Bonitas Medical Fund. Picture: Supplied.

Bonitas to use R600m of its reserves to keep increases low for 2022

By Martin Hesse Time of article published Sep 16, 2021

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BONITAS Medical Fund has announced its contribution increases and product line-up for 2022, among the first of the medical schemes to do so.

In a statement released today, Bonitas said it would be dipping into its reserves to keep members’ contribution increases low – the average weighted contribution increase across all plans is 4.8 percent, with the premium on one of its options, BonStart, decreasing by 7.9 percent.

This contribution decrease is an industry first, and can be attributed to the low cost-versus-benefits ratio and the younger membership profile on the option.

Among its enhanced benefits for 2022, Bonitas is offering a Benefit Booster to stretch day-to-day benefits and a revised international travel benefit with payment for Covid tests and a contribution towards quarantine costs. There is also a renewed focus on preventative care, virtual consultations and plans that enable more South Africans to have access to affordable, quality healthcare.

Lee Callakoppen, the principal officer of Bonitas, said: “The scheme has performed well in a volatile market, attributable to proactive risk management and prudent board decisions. A positive offshoot of the pandemic was an increased appreciation of medical aid cover, which resulted in better-than-expected member retention and a 2.3 percent membership growth since January.

“We have taken a strategic decision to utilise about R600 million of reserves to ensure that 82 percent of members receive a below-inflation contribution increase for the 2022 benefit year. The Benefit Booster equates to an increase in day-to-day benefits for members ranging from 16 percent to 32 percent, depending on the member’s plan.”

New offerings include a virtual option, BonStart Plus, a renewed focus on managed care with an oncology management programme, as well as an enhanced member app, which includes a personalised wellness programme to encourage healthier behaviour.

PERSONAL FINANCE

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