CMS: Thebemed placed under provisional curatorship

Following persistent financial difficulties, medical regulator, the Council for Medical Schemes, (CMS), has placed Thebemed Medical Scheme under provisional curatorship.

Thebemed was founded in 1992 by Thebe Investment Corporation, one of the pioneers of black economic empowerment.

“Because of the scheme’s financial difficulties and its failure to maintain the minimum statutory solvency ratio of 25% as set out in regulation 29(2) of Medical Schemes Act, Ian Fleming has been appointed as the provisional curator of Thebe Medical scheme until such time that it can maintain the minimum statutory solvency ratio,” said Dr Sipho Kabane, Chief Executive and Registrar of CMS.

“The curator will assume control of the business of the scheme in order ensure proper corporate governance and attend to improving the solvency ratio of the scheme. There is therefore no need for any concern on the part of Thebemed members and service providers regarding the day-to-day operations of the scheme,” said Dr Kabane.

The CMS has cautioned brokers “not to act in any manner that negatively affects the integrity of the scheme’s risk pool. “

“Any advice provided to members must be in line with the principles of good advice, and in the best interest of members. The CMS will continue to exercise statutory oversight regarding the affairs of the medical schemes, and to ensure that the interests of members of medical schemes are protected at all times,” said Dr Kabane.