Medical aid members find themselves paying healthcare insurance on a monthly basis and these costs become all the more important around this time of year when schemes announce their increases for the upcoming year.
What is important is for members to gain a better understanding of what informs those increases.
For instance, in 2020, the Government Employees Medical Scheme (Gems) has reinvested close to a billion rand towards benefits enhancement, and for the second year in a row Gems’s contribution increase is the lowest in the industry.
Karyna Pierce, the chief financial officer at Gems, speaks about this in more detail.
Brought to you by Government Employees Medical Scheme (Gems).