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SUB CATEGORIES General  |  HIV |  Medical Schemes | 

Astute benefit design delivers more for 2021

25 September 2020 Health Squared Medical Scheme

Emphasis on flexibility and useful benefits prioritise member health and value

Detailed analysis of what members look for in medical scheme cover has guided innovative benefit design to deliver richness of cover affordably for Health Squared Medical Scheme members in 2021. With competitive contribution increases, the Scheme’s sustainable approach to healthcare funding takes on a new dimension of choice and flexibility in the options about to be unveiled for next year.

“The experience of 2020 has profoundly shaken many of the market variables that are foundational to benefit design and has brought about a wider appreciation for the sense of security that private healthcare cover offers,” says Bianca Viljoen, spokesperson for Health Squared.

“We conducted extensive research to determine exactly which benefits each segment of the market values most, and tailored cover options to meet these sets of requirements as affordably yet generously as possible.”

This has led to the development of a brand-new benefit option geared towards growing young families, which will be unveiled at the Health Squared product launch on Monday, 28 September.

According to Viljoen, creative benefit design within each benefit structure ensures that the diverse needs and circumstances of individual members are comfortably accommodated within the industry-leading range of Health Squared benefit options available for 2021.

“Traditional options with structured access to healthcare benefits offer exceptional rand value, while other members prefer a new-generation benefit structure with personal medical savings account [PMSA]. Health Squared offers both types of structures to ensure members can select the cover of their choice.

“Hybrid benefit structures, such as the newly introduced Prosper benefit option and the existing flagship Optimum option, offer the best of both worlds in one option with comprehensive structured access to in-hospital cover and day-to-day cover provided through traditionally allocated benefits, as well as PMSA funds. The flexibility of the hybrid structure provides benefit richness when and where it is required, and the member retains the ability to accumulate their remaining PMSA funds for the future,” Viljoen explains.

"Ensuring members have access to primary healthcare services enhances access to care and promotes better health both now and for the future and has self-evident benefits for the individual, while reinforcing the sustainability of the Scheme. Our corporate clients appreciate the value this adds from a human capital risk management perspective too."

Eliminating red tape and duplication of cover for members, Health Squared uniquely integrates seamlessly with the holistic health, wellbeing, financial services and rewards solutions of Agility HealthPocket for individual members and Agility Corporate for employer groups. This not only reduces paperwork, it is also highly customisable according to needs and budget, while allowing for integrated reporting.

In addition, employer groups enrolled on Health Squared have access to the entry-level Core Employee Assistance Programme (EAP), which provides employees with unlimited telephonic support services including health advice, assistance with financial matters, psycho-social assistance and legal advice. "During the national lockdown, many corporate clients have found these services and the crucial support they provide to staff members particularly valuable," she adds.

The pioneering Agility Rewards programmes have been refreshed for 2021, with a brand-new fuel benefit, school fee and university bursaries offered and significantly enhanced fitness and health check rewards. Agility Rewards Platinum members can now earn up to R40 000 in cash back rewards every year.

“This year the world has gained a new appreciation for the true value of health. Members and corporates are likely to review their medical scheme cover with renewed interest, not only in terms of annual increases, but even more so in terms of actual rand value and return on investment. When looking ahead to 2021, there is much that can be done today to in order to prosper tomorrow,” Viljoen concludes.

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