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The Pretoria High Court has on 16 September 2020, placed Keyhealth Medical Scheme under provisional curatorship following a successful application by the Registrar of the Council for Medical Schemes (CMS), in terms of Section 56(1) of the Medical Schemes Act, No. 131 of 1998, and Section 5(1) and (2) of the Financial Institutions (Protection of Funds) Act 28 of 2001.
Despite the rising incidence of dementia globally – The World Health Organization (WHO) estimates one new case every three seconds – and the risk of losing mental capacity in old age, few individuals plan for this possibility.
The recent recommendation by the Council for Medical Schemes (CMS) to freeze or limit member contribution increases to 3.9 percent for 2021 will bring much relief to already indebted consumers. However, this is a very unlikely scenario and consumers can expect an average medical scheme rate increase of around five to six percent for next year.
The strongest deterrent against FSP compliance missteps is or should be: