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Johannesburg - People are clinging to their medical schemes despite the financial downturn.
Spokesperson for the Council for Medical Schemes (CMS) Alexandra Serwa, says it is finding that now, in particular, people are not dropping their medical insurance.
"It is as if they realise the added importance of having medical cover at this juncture. Some are indeed shifting to cheaper options in their own funds, but we are not seeing people giving up their medical scheme because of economic circumstances."
Medihelp chief executive Anton Rijnen says people would rather scale down to a more affordable range of benefits. It is also possible that new entrants joining a medical scheme for the first time would prefer to look at more affordable options.
Rijnen says that the lay-offs in the mining, automobile and manufacturing industries, inter alia, could indeed have an effect on the memberships of funds exposed to such industries.
Clinton Alley, chief executive of Medshield, reckons medical schemes with cheaper options are expected to benefit from the tougher financial environment.
- Sake24.com
For more business news in Afrikaans, go to Sake24.com.