Monday briefing: a round-up of recent financial services news
Tax Freedom Day on 14 May | Health Squared liquidator appointed
Council for Medical Schemes
Videos
Watch: MBSE launches RE training for FAIS representatives
Watch: FPI Financial Planner of the Year on key issues shaping the financial landscape
Animated video explains the two-pot retirement system
NCA Credit providers’ FICA obligations
NCR Desktop Audits
Is South Africa on track to getting off the grey list?
Looking back at this year’s FPI Professional’s Convention
Enhance your HR skills by attending our insightful webinars in November
Webinars on how to investigate misconduct and address poor performance
‘Bleak’ outlook for SA Post Office medical scheme
Financially threatened MediPos is placed under provisional curatorship
CMS’s proposed medical scheme levy for 2023/24
It is markedly higher than the increases over the past three financial years.
What medical schemes paid in broker commissions in 2021
Seven schemes paid commissions that were higher than the industry average.
Open medical schemes yet to regain beneficiaries lost during lockdown
Lives covered by open schemes declined in 2021 despite the increase in the number of principal members.
Health Squared placed under provisional curatorship
The High Court in Johannesburg has placed Health Squared under provisional curatorship following an application brought by the Council for Medical Schemes (CMS). The provisional curatorship is effective from 8 September. The court-appointed […]
Health Squared’s liquidation application to be heard later this month
The High Court in Johannesburg has granted Health Squared leave to apply for voluntary liquidation on September 27. Read: CMS’s bid to strike a deal for Health Squared members fails In an order […]
CMS’s bid to strike a deal for Health Squared members fails
The bid by the Council for Medical Schemes (CMS) to strike a deal with seven open medical schemes, plus the Government Employees Medical Scheme, to on-board members of Health Squared without underwriting and […]
Mom wins court battle against medical scheme to cover the cost of treating her son’s rare condition
An Alberton mom has won a significant court battle against her medical scheme, forcing it to pay for an expensive drug that her three-year-old son needs to treat a rare inherited genetic disorder. […]
CMS says Health Squared didn’t stick to business plans designed to address problem areas
The Council for Medical Schemes (CMS) has published its version of the sequence of events that resulted in Health Squared’s finances deteriorating to the extent that it will apply for voluntary liquidation this […]
CMS to oppose Health Squared’s bid for voluntary liquidation
The Council for Medical Schemes (CMS) was engaged in discussions with seven schemes to consider options for members of Health Squared, which intends to apply for voluntary liquidation on 1 September. In a […]
BHF takes legal action against the CMS to compel it to review the LCBO guidelines
The Board of Healthcare Funders (BHF) has applied to the High Court in Pretoria to overturn the moratorium that effectively prohibits medical schemes from providing low-cost benefit options (LCBOs) to South Africans who […]
Limit 2023 contribution increases to 5.7%, says Council for Medical Schemes
The Council for Medical Schemes (CMS) has recommended that contribution increases for 2023 should be limited to 5.7%, in line with the South African Reserve Bank’s projected average inflation rate for next year. […]
CMS proposes changes to the appointment of brokers by employers on behalf of employees
The Council for Medical Schemes (CMS) is proposing to introduce new guidelines on the appointment of brokers by employers on behalf of employees. In a circular published this week, the CMS said it […]
Fix the issues, don’t fight them
There is a particularly apt old African saying: When elephants fight, it is the grass that suffers. In his opening address at the 2022 Board of Healthcare Funders annual conference, the Minister of […]
High Court lifts Thebemed curatorship
The Pretoria High Court lifted the curatorship on Thebemed Medical Aid Scheme on 27 May, the Council for Medical Schemes (CMS) has announced. The regulator said it brought the application to lift the […]
CMS to take action against actuary over comments about low-cost benefit options
The Council for Medical Schemes (CMS) says it will be taking action against Insight Actuaries & Consultants joint-chief executive Christoff Raath following his comments about low-cost benefit options (LCBOs) on 19 May. The […]
