Medical aid fee contributions will increase by 11% on average for Momentum Health customers in 2017 but there will be no benefit reductions, as well as no structural changes or reductions in savings. This is according to the latest fee increases released by Momentum Health last week. The fee increases range between 8.9% and 15%. The increases vary per medical scheme option.
Damian McHugh, head of health marketing at Momentum Group, noted: “Given the current operating landscape, Momentum Health’s contribution increases still bode favourably in comparison to most other schemes. We will also continue to offer Provider Choices in 2017 where families can select lower contributions on certain options, without sacrifice to any benefits, based on the medical providers they use.”
McHugh stated: “The financial sustainability of medical schemes has increasingly been under pressure this year and the economic climate certainly has not supported this. We have noted an increase in healthcare costs industry-wide and evidence suggests a correlation between increased healthcare utilisation and the stress often associated with financial concerns. The fluctuating exchange rate has also impacted the costs associated with imported healthcare appliances and medicines – all translating in higher-than-anticipated claims.”
This is similar to claims made by Discovery Health Medical Scheme when it released its 2017 fee increases early last week (click here fore more).
Over the next few weeks medical aid schemes across the country will be releasing their increases for 2017. The new pricing brochures will be available from mid-October.
Handy tip: You can apply for medical aid cover on Justmoney by clicking here.