South Africa Medical Aid Funding Report 2020: State of the Industry, Low-Cost Benefit Options, Affordability, Outlook, Influencing Factors, Competition, Industry Associations
Dublin, March 16, 2021 (GLOBE NEWSWIRE) -- The "Medical Aid Funding in South Africa 2020" report has been added to ResearchAndMarkets.com's offering.
This report focuses on Medical Aid Funding, and includes information on the state and size of the sector, developments and corporate actions of its major players, and influencing factors including regulation and the effect of the coronavirus pandemic.
There are profiles of 31 companies including major administrators such as Discovery Health, Medscheme and Momentum Health, restricted schemes such as the Government Employees Medical Scheme, South African Police Service Medical Aid and Sasolmed, and open schemes such as Bestmed and Medshield.
Medical Aid Funding:
South Africa spends more on private health insurance as a percentage of total health expenditure than almost any other country. Although the sector performs a critical role in the health system, medical scheme membership remains out of the reach of over 85% of the population. Although the details remain unclear, the implementation of the National Health Insurance Fund will invariably affect the public and private healthcare systems, including the medical aid funding sector.
Affordability:
Medical aid premiums continue to rise faster than inflation. In response to the high cost of medical scheme plans, many members opt for cheaper options, which saves them on monthly premiums but increases their out-of-pocket medical expenses. Many scheme members rely on gap cover to mitigate the financial burden of their medical expense shortfalls. South Africa's poor economic performance has augmented the trend of members downgrading their benefit options without readjusting expectations. Reacting to rising costs and sluggish membership growth, and medical schemes have created bare-minimum hospital plans. There are long-term concerns around the exclusivity of private medical schemes because of their unaffordability for majority of people.
Low-Cost Benefit Options:
The Council for Medical Schemes announced its intention to discontinue low-cost benefit options which target low income market segments. From March 2021, none of the demarcation products that were established in line with the exemption framework will be allowed and no new products will be permitted. Demarcation products include insurance options from as little as R300. These products provide private healthcare access to over 400,000 people. Many insurance providers are appealing the decision.
Key Topics Covered:
1. Introduction
2. Description of the Industry
2.1. Industry Value Chain
2.2. Geographic Position
3. Size of the Industry
4. State of the Industry
4.1. Local
4.1.1. Corporate Actions
4.1.2. Regulations
4.1.3. Enterprise Development and Socio-Economic Development
4.2. Continental
4.3. International
5. Influencing Factors
5.1. Economic Environment
5.2. Government Interventions and Regulations
5.3. Population Health
5.4. CoronavirUS
5.5. Input Costs
5.6. Fraud, Waste and Abuse
5.7. Research and Development (R&D), Technology and Innovation
5.8. Labour
5.9. Environmental Concerns
5.10. Cyclicality
6. Competition
6.1. Barriers to Entry
7. SWOT Analysis
8. Outlook
9. Industry Association
10. References
10.1. Publications
10.2. Websites
Appendix - Summary of Notable Players
Major Open Medical Schemes
Major Restricted Medical Schemes
Major Medical Fund Administrators
Profiles of Notable Open Medical Schemes
Bestmed Medical Scheme
Bonitas Medical Fund
Discovery Health Medical Scheme
Fedhealth Medical Scheme
Keyhealth Medical Scheme
Medihelp Medical Scheme
Medshield Medical Scheme
Momentum Health
Sizwe Medical Fund
Profiles of Notable Restricted Medical Schemes
Anglo Medical Scheme
Bankmed Medical Scheme
Chartered Accountants Medical Aid Fund
Government Employees Medical Scheme
La-Health Medical Scheme
Moto Health Care
Nedgroup Medical Aid Scheme
Platinum Health Medical Scheme
Profmed Medical Scheme
Samwu National Medical Scheme
Sasolmed Medical Scheme
South African Police Service Medical Scheme
Transmed Medical Fund
Profiles of Notable Medical Fund Administrators
3Sixty Health (Pty) Ltd
Agility Holdings (Rf) (Pty) Ltd
Discovery Health (Pty) Ltd
Medscheme Holdings (Pty) Ltd
Metropolitan Health Corporate (Pty) Ltd
Momentum Health Solutions (Pty) Ltd
Momentum Thebe Ya Bophelo (Pty) Ltd
Professional Provident Society Healthcare Administrators (Pty) Ltd
Universal Healthcare Administrators (Pty) Ltd
For more information about this report visit https://www.researchandmarkets.com/r/d7e0a3
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