Momentum Health puts healthcare clients’ needs first in 2017

“Offering members continued peace of mind in 2017 amidst a challenging industry-landscape, remains Momentum Health’s core focus”, says Damian McHugh, Head of Health Marketing at Momentum Group.

“The financial sustainability of medical schemes has increasingly been under pressure this year and the economic climate certainly has not supported this”, McHugh points out.  “We have noted an increase in healthcare costs industry-wide and evidence suggests a correlation between increased healthcare utilisation and the stress often associated with financial concerns. The fluctuating exchange rate has also impacted the costs associated with imported healthcare appliances and medicines – all translating in higher-than-anticipated claims.”

Whilst some schemes had to resort to measures that include amalgamations and/or cutting of benefits, coupled with higher-than-industry contribution increases, Momentum Health has been fortunate in that its favourable membership profile and firm financial footing have enabled the Scheme to continue putting its members’ well-being first.

The average 2017 contribution increase announced for Momentum Health members is 11%. Increases per option and where Provider Choices are exercised, vary. “Given the current operating landscape, Momentum Health’s contribution increases still bode favourably in comparison to most other schemes. We will also continue to offer Provider Choices in 2017 where families can select lower contributions on certain options, without sacrifice to any benefits, based on the medical providers they use”, McHugh explains.  

Additional healthcare solutions from Momentum

He continues to point out that enhancing the financial wellness of individuals, families and businesses represent the core value proposition that underpins Momentum’s healthcare philosophy.

“All communication with healthcare clients serves this purpose. Having adopted a client-centric approach, Momentum Health and its administrator aim to always put the client’s needs first and only offer solutions that speak to those needs. The role of financial planning in identifying and helping clients to roadmap the journey to a state of financial wellness is therefore also a key part of our value proposition.”

One of the new client-centric healthcare offerings that serves to complement the medical scheme experience, includes a HealthReturns offering. In conjunction with Multiply, Momentum’s rewards and wellness programme, it will enable greater monetary rewards (of up to R2 000 per family per month) and more choice in terms of how and on what clients spend these monthly rewards on to enhance their health and state of wellness.

Additional healthcare solutions that will support employers to offer healthcare to previously uncovered employees, including domestic workers, will also form part of Momentum’s holistic, client-centric approach to Financial Wellness in 2017.

McHugh concludes: “Protecting your health is such an integral part of being financially well, and in 2017 we will continue to unlock more value for clients who choose to entrust their healthcare needs to us.”