In an attempt to help members to address the increased cost-of-living crisis, some medical schemes with healthy reserves have opted to implement deferred increases.
We continue to emerge from the after effects of the COVID-19 pandemic that created one of the most turbulent healthcare environments in our country’s history. While economic activity has opened up, we as consumers are all feeling the pinch as inflation rates increase and the cost of daily nec.
Momentum Medical Scheme will delay contribution increases again until April 2023, then hike them by 8.5%. This will result in a 6.4% effective increase for 2023.
Over the past few years, a new trend has emerged in medical schemes – deferred increases designed to lift financial pressure on members battling to make ends meet.