Momentum and Metropolitan received the go-ahead from the Competition Commission to merge late last year. Since then a lot of work has been going into combining the various business lines. In the health area this meant merging Metropolitan Health Group (MHG) with Momentum Medical Scheme Administrators (MMSA). It is hard to imagine two companies that… Continue reading Unhappy marriage
Thank goodness Julius Malema has not turned his attention to healthcare – probably because the masses still believe that NHI is a fait accompli. Little do they know… Over the weekend Bursar got on the internet and found this delightful page on Wikipedia: “Truthiness”. I think it just captures the essence of what is wrong… Continue reading Small mercy
So after an extremely long legal battle CMS has finally gotten its wish and managed to get the courts to place Bonitas under curatorship. Is this the end for Bonitas? Hard to say. The scheme reported healthy results for 2010 and is in a good solvency position. That may be the problem… A large number… Continue reading What next for Bonitas?
Something that most people in the industry missed was the CMS Circular 3 of 2011 (which can be downloaded here). This rather dry circular dealt with the definitions of allowable assets that medical schemes can invest in under the regulations of the medical schemes act. Specifically it contained this little gem: Derivatives Category 7 assets… Continue reading We don’t know what we are talking about
Found this opinion peace in the Business Day this morning by Neil Kirby that looks at some parallels between the ANC government’s NHI push and the current challenge that “Obamacare” is facing through legal challenges. An interesting point he makes up front is that the absence of mandatory health insurance makes the entire system unsustainable… Continue reading Comparing SA to the US of A
So we have this article in the Personal Finance/Business report over the weekend where the South African Medical Associates says “medical costs haven’t gone up because of us! Just look at how much administration and non-healthcare costs have gone up!” This statement is so full of bullshit you have to wonder if they are not… Continue reading Let’s not talk about the real issue
There are some people who strongly believe that South Africa would be better off if there were no medical schemes. Most of them are barking mad foam-at-the-mouth communists and unionists wanting to get rid of medical schemes entirely and force everyone onto the public system (article here). It would be easy to dismiss them out… Continue reading Is there a need for medical schemes?
So we have this article in yesterday’s Personal Finance. Members don’t understand their Prescribed Minimum Benefits? Hell I work with the stuff and I don’t understand it. I don’t think doctors understand them and I certainly don’t think CMS understands them. Of course not understanding something has never stopped anyone in this country from just… Continue reading Confusion over PMBs
Pieces coming up will touch on The much discussed, never seen National Health Insurance plan The Prescribed Minimum Benefit circus The worst solvency and reserving regulations in the world How half baked reform can make things worse That is what I can think of now. I’m sure when I’m done with these topics there will… Continue reading An inventory of problems
Right, let’s not beat around the bush. Firstly it is unlikely that you will find anything here to interest you unless you live in South Africa and/or are involved in the healthcare industry of the country. If not then this is not the place for you. Go away! Still here? Then the next step is… Continue reading And so it begins