Covid-19 Impact
Medical Scheme Increases – 2022

covid

Consumers may be surprised by some of the low contribution increases or deferred increases published by medical schemes for 2022.

In a pandemic, one would expect a significant increase in the cost of healthcare.  However, claiming patterns indicate that utilisation is lower for all kinds of care.  Also, there is no sign of a return to previous claiming levels.

What does this mean for medical schemes?

Medical schemes continue to make material surpluses.  Solvency is at record high levels, approximately R73 billion. The big question is how we use these reserves to benefit members. It appears not to be that easy to shed reserves, leaving schemes with four choices.

  • Continuing with historic increases would mean that reserves will continue to climb.
  • Reducing the annual increase by only 1% will cause a downward trajectory in solvency.
  •  A zero per cent increase can place a scheme on a loss-making course, possibly causing double-digit increases in the future.
  • Deferring increases to later in the year appears to be more appropriate as it does not impact the schemes earnings in the long run.

What does this mean for members?

Increases lower than inflation or a deferment of increases bring financial relief to cash strapped consumers. However, it causes more confusion and challenges with different increase dates and benefit alignments.

It is evident that members claimed less from their medical savings or in-scheme benefits. The result is the likelihood of being over-insured. This new normal emphasises the importance of a comprehensive needs analysis and expert advice.  

How can Phoenix Healthcare Consultants help you?

You can appoint Phoenix as your broker or sign a third-party consent form. This will unlock a comprehensive bouquet of support, intermediary and advisory services at no cost. Phoenix will be your first point of call for any enquiries or support services. Clients love our approach to customer services of compassionate listening and providing feedback in a spirit of empathy and kindness. Our hand-holding approach is to take you all the way to the goal or solution.

What about your medical scheme annual review?

Our yearend review support and advisory services include.

  • Comprehensive needs analysis
  • Review of your claim’s history and benefit utilisation
  • Medical savings or in-scheme benefit review
  • Investigation relating to registered chronic conditions and medication
  • Disease management review
  • Self-payment gap analysis

The above comprehensive review will enable Phoenix to determine if you are.

  • over
  • under
  • appropriately insured

Since Phoenix is accredited with the Council for Medical Schemes, licensed for long – and short-term insurance with the Financial Conduct Authority, we can bundle products to enhance your benefits whilst saving you money.

All our clients have access to Phoenix Assist, a core assistance and support programme giving you and your family access to the below benefits at no cost!

  • A 24/7 medical advice line
  • Covid-19 information and advice line
  • Trauma counselling
  • Emotional counselling
  • HIV prevention, including rape and assault support and counselling
  • Medical emergency response
  • Medical emergency transportation services

There is no time like the present to obtain an independent, unbiased and new perspective of your medical scheme benefits.

Our mission is to optimise your benefit to cost ratio to stop the rising cost of healthcare from eating away at your budget and net disposable income.

Complete the contact form on the right for a no-obligation free consultation.

Author: Clayton Samsodien
Group CEO

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Thank you for your interest in our Phoenix FSG!

Phoenix FSG provides a new generation type of consulting, advisory and support services by establishing a number of specialised subsidiary companies in the areas of healthcare, wellness, employee benefits, short term personal and commercial lines as well as life assurance and invest product lines.

We would like offer you a complementary full portfolio assessment. Kindly fill out the form and provide us with either a contact number or email address and one of our consultants will be in touch soonest.

Since appointing Phoenix as my medical aid broker in June 2022 I have experienced nothing but exceptional service.

I have been a member of Discovery Medical Aid since 1997. Over the 24 years since joining Discovery I have had several Medical brokers, most of whom provided between little to no service, generally not replying to emails or ignoring telephonic calls. Phoenix is different. They immediately respond to any queries and monitor the query until it is resolved.

When joining a medical aid a medical broker is automatically allocated to you and the cost of this broker is included in the monthly levy paid to the medical aid. I can strongly recommend that anybody who is a member of a medical aid switch their broker to Phoenix. By doing this you will at least receive some value for the monthly that is automatically deducted for payment of a medical broker.

M A Short

Although I have only been working with the Phoenix Group team for a few months, I have worked very closely with Clayton Samsodien on multiple clients. I have only experienced absolute professionalism and impressive efficiency from Clayton, who has an open, patient and friendly manner with everyone whom he interacts with. He is always willing to go the extra mile to assist his clients and their staff members with their requirements.

I would highly recommend the services of Phoenix Group.

Cherice Len

“Dealing with Clayton is always a pleasure. He ensures that he keeps in contact with me whatever my requests are and always ensures to communicate with me. His customer service is impeccable and that is extremely important to me.”

Beverley Williams

“My experience with Phoenix has been nothing short of incredible. After a near death medical incident I was faced with the rude awakening that my finances were not in check. Clayton was very hands on and supportive – he made what was a daunting and intimidating task for me – easy, effortless and quick. My finances are now all organised and in order and I can sleep knowing that one aspect of my life is taken care of and in good hands.”

Garth Brown