We took a look at how the 5 top open medical aids in South Africa shape up against one another across a selection of performance indicators. (Click the image if you'd like to view it in a higher resolution).
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The Top 5 Medical Aids in South Africa
This chart shows member distribution across the top 5 Medical Aids in South Africa.
Discovery Health
Members: 1.14 million
Beneficiaries: 2.46 million
Average Beneficiary Age: 32.95 years
Pensioner Ratio: 7.36%
Global Credit Rating: AA+
Solvency Ratio: 23.41%
Bonitas Medical Fund
Members: 273,285
Beneficiaries: 602,415
Average Beneficiary Age: 31.4 years
Pensioner Ratio: 5.10%
Global Credit Rating: AA-
Solvency Ratio 35.5%
Momentum Health
Members: 100 936
Beneficiaries: 200 062
Average Beneficiary Age: 33.08
Pensioner Ratio: 8.1
Global Credit Rating: AA-
Solvency Ratio: 28.6%
Medshield
Members: 84,860
Beneficiaries: 103,105
Average Beneficiary Age: 36.38 years
Pensioner Ratio: 5.35%
Global Credit Rating: AA-
Solvency Ratio 45.3%
Fedhealth
Members: 72,945
Beneficiaries: 148 816
Average Beneficiary Age: 37 years
Pensioner Ratio: 9.8%
Global Credit Rating: AA-
Solvency Ratio: 37%
Global Credit Rating
Global Credit Ratings Co. defines credit risk as the risk that an entity may not meet its contractual financial obligations as they come due. The GCR rating scale ranges from a top rating of AAA to the lowest rating of CCC.
Solvency Ratio
The solvency ratio of an insurance company is the size of its capital relative to all risks it has taken. The solvency ratio is a measure of the risk an insurer faces of claims that it cannot absorb. A solvency ratio above 25% is stipulated by the Medical Schemes Act (131 of 1998).
Average Age / Pensioner Ratio
Young people are statistically healthier than elderly people. A low average beneficiary age coupled with a low pensioner ratio necessitates lower claims which, in turn, can restrict annual increases of contributions.
Sources
https://www.discovery.co.za/portal/individual/dhms-overview
https://www.discovery.co.za/discovery_coza/web/linked_content/pdfs/health/financial_highlights_2013.pdf
http://www.bonitasmedicalfund.co.za/about-our-business.html
http://www.bonitasmedicalfund.co.za/pdf/annual-reports/Annual-Performance%20Highlights-2012.pdf
http://fedhealthnewsletters.co.za/2013/AGM/008300513/Extracts%20from%20Financial%20Statements.pdf
http://www.fedhealth.co.za/wp-content/uploads/2013/06/2013-AGM-Edition.pdf
http://www.fedhealth.co.za/wp-content/uploads/2013/05/Fedhealth-Corporate-Brochure.pdf
http://www.medshield.co.za/docs/HIGHLIGHTSDOCUMENTFORTHEYEARENDED31DECEMBER2012.pdf
http://views.itinews.co.za/Views/ViewArticle.aspx?Article=D521D860-3632-4684-A3C9-077F3A369B53&CID=168&Company=Momentum%20Health
http://globalratings.net/ratings-info/rating-scales-definitions
http://en.wikipedia.org/wiki/Solvency_ratio
http://www.medicalschemes.com/
'Annual Report to Members_2012.pdf' email via Redline / Momentum Health
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IFC | Independent Financial Consultants
www.medicalaid-quotes.co.za
Designed by
gnuworld
www.gnuworld.co.za
