Medihelp Medical Aid has announced a price reduction of on average 5.57% on four of its options and an average increase of 2.74% on the rest its plans for 2022, resulting in a weighted average contribution decrease of 0.45%, while the value of available benefit amounts on all options has been increased by on average 4.2%, which is more than the price adjustment. The scheme also introduced two new plans for 2022, thereby addressing the growing need for more affordable alternatives that enable consumers to retain medical scheme membership midst economic pressure.
“Medihelp has priced the 2022 products to ensure that members have continuous healthcare cover, recognising the financial strain being experienced by all,” says Ettie da Silva, principal officer of Medihelp.
“Similar to the industry, the Scheme has also experienced an increase in solvency over the past two years and should conclude 2021 with a solvency ratio of above 43%. Given Medihelp’s financial stability and having provided for amongst others, a fourth and potentially fifth Covid-19 wave, tariff increases, additional booster vaccinations, ageing, increased utilisation and previously postponed elective surgeries, we took the calculated and strategic decision to reinvest some of the reserves to effect price reductions and low contribution increases. Our intent is to alleviate pressure on members, but also to increase our product range’s competitiveness to become the solid alternative for people who consider price as the determining factor in choice of plan.”
New plans
A new plan, MedMove!, has been created to welcome first-time entrants to the market, with contributions starting at R1 452 per month. The plan is designed to allow more individuals access to private healthcare. Medihelp’s Necesse option has been replaced with MedElect, which offers a cost-effective, comprehensive network plan ideal for students, families and corporate groups seeking an inclusive healthcare solution for their employees.
PERSONAL FINANCE