Medical aid schemes announce how contributions will impact your wallet

File: The Council of Medical Schemes recently warned the economic impact of COVID-19 could see a significant drop in medical aid membership.

eNCA/Tshego Moagi

JOHANNESBURG - Medical aid schemes have started announcing how much more you'll pay for coverage next year.

And while the prices hikes have dropped significantly, the increases remain higher than inflation.

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Momentum Medical Scheme has announced a weighted average annual contribution increase of 3.9 percent.

The hike was 8.2 percent last year.

Momentum says the average age of its members is well below the industry average, which has had a positive impact on its claims forecast.

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Last week, Medshield announced an increase of 5.9 percent for next year – significantly lower than last year.

The Council of Medical Schemes recently warned the economic impact of COVID-19 could see a significant drop in medical aid membership.

Source
eNCA