Tag: health insurance

Each year, medical aid becomes more expensive and slips further out of reach for many South Africans. Annual premium increases continue to outpace inflation far. As a result, staying covered has become an uphill battle. Many consumers are questioning whether their medical aid is worth the cost. Others are being forced to downgrade or abandon it entirely. If you're feeling the financial squeeze, you are not alone.

In the context of a highly charged and challenging environment for doctors in South Africa, telemedicine is emerging as an attractive alternative route for young doctors seeking a sustainable career. Taking it a step further, offering telemedicine as a managed service to businesses not only improves employer and employee experience but also ensures a stable work environment for doctors.

There is a lot of confusion and misunderstanding when it comes to medical aid versus medical insurance, and where hospital plans fit in, and this can make it difficult to decide what the best solution is to meet your needs. The reality is that they are not the same, and you cannot actually compare them, as they offer completely different benefits and serve different purposes.

A need for flexibility at work, employee benefits, the effects of the great resignation on organisations, the increased role of technology and a shift to a gig economy are some of the trends that were discussed at our Corporate’s Partnership Connect 2022 event in Rosebank.

Access to quality primary health care will address around 90% of our population’s health needs throughout their lives, largely through early detection and prevention of disease, preventative care and health screenings including vaccinations, cancer screenings, pre-natal and antenatal care, as well as ongoing management of chronic conditions, building a more resilient, healthier, productive population.

A growing economy and innovation are providing the insurance industry with new opportunities on the continent. Driven by technology, innovation and economic growth, the insurance industry in Sub-Saharan Africa is evolving, as highlighted by our new report.

Many South African’s feel the economic impact of the pandemic, which has ultimately affected their pocket. People are forced to make difficult decisions in order to rearrange their finances to suit their current financial constraints. 

The Internet of Things (IoT) has been a hot topic for a number of years, but the pervasive and affordable connectivity required for successful deployment has held back its progress. This is rapidly changing, with the rollout of fibre to the home, 5G and even Elon Musk’s recently launched Starlink satellite.

Banning health insurance options and scrapping the move to introduce affordable medical scheme cover demonstrates a flagrant disregard for individuals' rights to enter into voluntary private contracts to protect themselves from unforeseen out-of-pocket payments when catastrophe strikes.

As exponential, digital-driven technologies transform the 4th Industrial Revolution (4IR) from a buzzword into reality, the financial services sector - and insurance in particular - face massive disruption, it starts with a radical reimagining of the very model insurance has been built on since its origins in the 14th Century, and Africa is no exception.