Momentum Medical Scheme have deferred its members' contribution increase for a year until September 2022, effectively giving more than R200m back to its members.
Source: ©Andriy Popov 123rf
The increase in a year’s time will also then only be to increase contributions by six percent, which equates to just a two percent increase for the year.
“Momentum Medical Scheme’s robust performance throughout the pandemic and stable financials enabled the Scheme to assist members in the most impactful manner possible, which is to not announce a contribution increase at the end of 2021,” says Damian McHugh, executive at Momentum Health Solutions, administrators for the scheme.
“Although medical inflation continues to increase, and new medical procedures are adding healthcare costs that the scheme has not previously had to make provision for, we believe that the scheme is in a position to delay the increase in contribution required, to ensure the scheme’s long-term sustainability, until September 2022.
“The calculations forecast that such relief could immensely benefit consumers, as they bounce back from reduced income or loss of income in many cases,” McHugh explains.
Bnefit enhancements and product updates for 2022 hve increased despite no increase in contributions.
Vaccine reward benefit
Momentum Health Solutions also introduced a vaccine reward benefit in the form of Monthly Wins+ on its popular HealthReturns+ programme.
Members who have been fully vaccinated and achieve certain milestones during the month will receive an additional R100 to spend at participating partners or can opt to swipe it into their HealthSaver+ account to further boost their HealthReturns earned.
This is in line with Momentum’s view not to force anyone to get vaccinated, but to educate and encourage clients and members to “do the right thing”.
“Momentum’s view is strongly in favour of vaccinating as many individuals as possible – everyone’s choices and actions have consequences and the more citizens who choose to protect themselves and those around them, the better for our country’s long-term economic and healthcare outlook.
"We remain committed to mutual respect and open, honest engagement in our approach to beating the pandemic,” McHugh explains.
Clients access to healthcare from the safety and convenience of their home now includes the ability for Hello Doctor to write prescriptions based on virtual consultations – meaning a member can consult a doctor virtually, have a prescription prepared and sent to the appropriate courier pharmacy, and receive the prescribed medicine on their doorstep.
Members of schemes that Momentum Health Solutions administers are also now able to undergo a virtual health assessment at home, or to complete an online fitness assessment.
“Momentum Health Solutions remains focused on innovation and problem solving. In so doing, striving to meet the holistic healthcare and financial needs of companies and individuals across the spectrum, uniquely positioning us to provide a safe, affordable and seamless life-journey to our clients,” says McHugh.