Cape Town - The registrar of the Council for Medical Schemes (CMS) has approved a merger between the Built Environment Professional Associations' Medical Scheme (Bepmeds) and TopMed Medical Scheme.
TopMed chief executive officer Len Deacon said on Tuesday the deal would "improve sustainability" and add value for the company.
"We are very excited about this move, which we believe will not only improve the sustainability of TopMed, but also add real value for members going forward," he said.
Deacon said the company would benefit from an improved membership profile (lower age, pensioner ratio and chronic ratio), as well as membership growth, together with a contribution to reserves in the region of R8m.
At the same time, it would maintain its solvency level comfortably above recommended industry requirements of 25%.