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ALEXANDER FORBES HEALTH
Section 4
Introduction The Technical and Actuarial Consulting Solutions team of Alexander Forbes Health is proud to present this year’s Medical Aid Insights. We are confident that this publication will give you a comprehensive view of the performance of the South African medical schemes’ industry, as well as some of the changes and challenges that the industry is facing. This analysis covers key statistics and trends over the period from 2000 to 2020, based on the consolidated financial results for all registered medical schemes as disclosed in the annual report released by the Council for Medical Scheme. Our focus is on the 10 largest open and the 10 largest restricted medical schemes by principal membership. The number of beneficiaries covered by medical schemes has remained stagnant in the past decade, not surpassing the nine million mark. The only significant increase in the environment was with the introduction of GEMS in 2006. The impact and effects of Covid-19 also seem to have negatively impacted the number of lives covered. The household names in the medical schemes industry mainly experienced a decrease in membership. The relatively unknown smaller schemes experienced a high overall growth in beneficiaries amidst the pandemic. Makoti Medical Scheme and LA Health grew by 20.3% and 7.1% respectively. If you would like to discuss any of the issues addressed in more detail, please speak to your Alexander Forbes Health consultant or contact one of the specialists listed at the end of this publication.
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