Although it has become a common practice for medical schemes to adjust their rates upwards every year, there are concerns that they will increase significantly for 2020.
Medical costs in South Africa have skyrocketed while the state hospitals are in chaos and no one can dare to be admitted.
The problems of those who do not have a medical aid are far worse than those who now have to accept a sharp rise in rates.
Of the schemes, rates increase by up to 11%, which has become so high for many members of a scheme that it is unaffordable.
Younger people can afford to only take out a hospital plan as a package, but the older people get, the more they need a comprehensive package, which is where the financial bottleneck comes from.
Discovery Health Medical Scheme (DHMS) members will pay significantly more for their medical coverage in 2020.
DHMS’s weighted average premium increase of 9.5% for 2020 does not bode well for premium
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