Bepmeds, TopMed merger approved

Following a process of due diligence and careful consultation between the two boards, Bepmeds will be transferred to TopMed. This is in line with TopMed's strategic goal of increasing membership to remain sustainable into the future healthcare environment, which includes NHI and other opportunities.

TopMed's CEO/executive principal officer, Len Deacon, said, "We are very excited about this move, which we believe will not only improve the sustainability of TopMed, but also add real value for members going forward. At TopMed, customer centricity is at the centre of everything we do, so we are pleased that we have been able to merge with a scheme that shares similar values and has so many opportunities for synergy in the best interest of our members."

Benefits from improved membership profile

He said that TopMed will benefit from an improved membership profile (lower age, pensioner ratio and chronic ratio), as well as membership growth, together with a contribution to reserves in the region of R8 million, while maintaining its solvency level comfortably above the recommended industry requirements of 25%.

The merger would ensure greater efficiencies and economies of scale from combining functions such as Managed Healthcare and customer service. It would also enhance the overall marketing positioning of both schemes, making the new combined scheme an influential industry player.

Principal officer of Bepmeds Medical Scheme, John Rollason, welcomed the merger, which he said would offer greater stability for Bepmeds members. "TopMed will provide a stable platform for our members going forward, as they will be participating in a larger risk pool. Our members will also have a greater range of benefit options to select from, and we look forward to continuing excellent levels of service to our members."

The schemes have the same administrator, Momentum Medical Schemes Administrators.