With National Treasury forecasting a decelerated growth of 2.2% in 2022, affordability is set to remain the key influencer for private healthcare consumers in the coming year, particularly when it comes to monthly contributions payable towards medical scheme membership.
Josua Joubert, CEO and Principal Officer of CompCare Medical Scheme discusses how the scheme is addressing this trend alongside other important qualifiers in medical scheme selection.
Maintaining financial fitness
CompCare has announced a 5.4% average weighted contribution increase for 2022. On some options, such as the highly affordable NetworX option – which is ideal for international students and employees under the R10 000 per month salary band – the increase is as low as 0.9%.
It is worth noting that in an effort to continue alleviating financial pressures for members, the annual increase remains lower than that of the 6.5% average weighted increase implemented two years ago ahead of the 2020 benefit year, in a pre-COVID-19 world.
This is all the more significant when considering that CompCare has been able to maintain an exceptionally high solvency ratio, coming in at 47.2%. This translates to accumulated funds per member of over R24 000, with CompCare continuing to be ranked as one of the most financially sound schemes in SA.
The scheme’s claims ratio of 92.6% is proof positive that members are receiving significant benefit from the cover afforded by their CompCare membership.
2022 benefit highlights
The scheme has conducted member surveys and financial advisor feedback sessions throughout 2021, and from this feedback has implemented significant benefit enhancements to add further value for members. An inflationary benefit increase has been applied across all 15 options including efficiency discount options, to ensure that each and every member can benefit from enhancements, no matter which option they have selected to best suit their healthcare needs and budget.
Here are some of CompCare’s most notable benefit highlights for 2022:
- All CDL chronic conditions will be paid from risk as from 2022 and not from the Annual Flexi Benefit. This enhancement is specifically being made to the Mumed, Selfsure, Symmetry and Dynamix options, including their Efficiency Discounted options. All other options in the CompCare range already cover CDL chronic conditions from risk.
- Furthermore, the scheme is removing the in-hospital pathology limit on the UniSave, Mumed, and Symmetry options including their Efficiency Discounted options, so this will now afford members an unlimited benefit.
- Exceptional value for money can be found on the entry-level savings option, SelfNet, which also offers cover for eight antenatal visits with a GP, specialist or midwife payable from the risk benefit, so it will not cut into your day-to-day savings. In addition, a child emergency benefit is included, which allows for a visit to an emergency room for children younger than six years – even if all available medical savings are depleted.
- Enhancements on the Dynamix option for 2022 include in-room procedures for GPs and specialists to be paid from the above threshold benefit, with the limit having been increased by a full 10%.
- The Pinnacle option, a particularly good choice for corporate executives, now also includes in-room procedures for GPs and specialists to be paid from the above threshold benefit, while all procedural co-payments have been removed.
- Our outstanding kids benefit and child rate applied until the age of 27 for students and those who are financially dependent, will set us apart for young families wishing to lay a solid health foundation for children.
- The scheme’s preventative men’s and women’s health benefits, as well as the wellness benefit continue to be among the best on the market and is ideal for those seeking value whilst maintaining a healthy and active lifestyle.
- CompCare is one of the only schemes in SA providing cover for injuries sustained during professional and adventure sports, as well as a search and rescue benefit.
- Ever mindful of the growing need for mental health support, CompCare’s comprehensive psychosocial and emotional wellness benefit is included across all options with access to a round-the-clock counselling helpline and referrals for face-to-face counselling when required.
- In furthering access to specialist care on all options, CompCare will not impose a co-payment for non-GP referrals on dermatologist consultations charged within the scheme tariff for 2022.
It remains to be seen just how far reaching the ongoing impacts of the pandemic will be. In the meantime, CompCare is forging ahead with benefit options that will address members’ real needs, providing them with access to the care they deserve in the here and now, protecting their health for the future and supporting them in achieving their wellness goals along the way.
We have not forgotten that every membership number represents a human being who relies upon us to put their best healthcare interests first. We at CompCare take this responsibility very much to heart and it is our solemn promise that we will continue to show up for our members, in 2022 and well beyond.