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2023 Mid year financial review

Medical Scheme Environment

National Health Insurance (NHI) Update

  • 24 May 2023: NHI Bill adopted by Parliamentary Portfolio Committee (PPC) for Health

  • 12 June 2023: NHI Bill approved by Parliament

  • Now passes to National Council of Provinces (NCOP)

    • note that the Western Cape (DA run) does not support the bill as is

  • Thereafter referred to president for promulgation

Opposition voices

  • NHI Bill voted against by Democratic Alliance (DA), Economic Freedom Fighters (EFF) and Inkatha Freedom Party (IFP) - for various reasons

  • No track record to manage the single largest fund in SA, will be larger than Eskom

  • Timing for 2024 election campaign

Discovery Health response

  • NHI Bill likely to be subject to protracted legal challenges

  • Funding of the NHI Bill remains unclear

  • Timeline to implementation is likely to be 10 to 15 years according to the representatives of the National Department of Health

Medical Scheme Financial Results (2022)

Discovery Health – Statement of Comprehensive Income

Discovery Health – Solvency Ratio

Momentum Medical Scheme – Statement of Comprehensive Income

Momentum Medical Scheme – Solvency Ratio

Bonitas Medical Fund - Statement of Comprehensive Income

Bonitas Medical Fund - Solvency Ratio

Bestmed - Statement of Comprehensive Income

Bestmed - Solvency Ratio

Sources: Annual Financial Reports provided by schemes

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