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Liberty Medical Scheme and Medicover Medical Scheme merge, making it the fourth largest scheme in South Africa

17 November 2009 Liberty Medical Scheme

Liberty Medical Scheme - LMS Medical Fund
General enquires & claims
www.lmsmedfund.co.za
Tel: 0860 000 567


Liberty Medical Scheme (LMS) and Medicover Medical Scheme (MMS) are delighted to announce that the merger of the two schemes is now complete. The merger, which will take effect from January 1st 2010, represents a pooling of expertise from two major medical schemes in South Africa that will result in the strengthening of their position in the market, as well as bringing efficiencies and increased benefits to members – LMS will be become the fourth largest open medical scheme in South Africa with a member base of almost 200 000 lives.

Following the successful merger, members of the amalgamated scheme will benefit from the enhanced product portfolio, available from a single source; they will enjoy mutually favourable benefits, including a wider choice of benefit options, as well as enhanced administrative services and the protection offered by a larger risk pool. LMS enables members to make confident decisions that are best for them and their families; empowering members to own their health and live the LMS value ‘You choose for you”.

Andrew Edwards, Executive Principle Officer at LMS explains, “Liberty Medical Scheme is determined to offer superior healthcare at rates that are affordable to the market. Due to the considerable changes that we have seen in the South African medical industry we needed to find a solution that made economic and practical sense for members of both schemes.”

The consolidated scheme will operate from a position of strength in terms of increased membership and financial soundness. The scheme’s solvency ratio will be well in excess of the 25% prescribed minimum, namely, around 30%! The combined client base will benefit from a below industry average annual rates increase of just 10.4% for 2010.

Members will also enjoy benefit improvements that have been made to the various health options:

* Benefit limits on all options have been increased by 8.0%

* Medical Savings Facility benefits have been increased by an average of 10.6%

* Cancer-treatment benefits have been improved on all options

* Casualty and Crime Trauma benefits unique to Liberty Medical Scheme, have also been introduced on the Titan option

* The overall annual hospital limit on the Titan option has been removed

* The beneficiary limit in the overall annual hospital limit on the Bona Plus option has been removed.

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