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Circular 27 of 2023: Guidance on contribution increases and benefits changes for 2024

To protect medical scheme members from further financial distress and the likely risk of losing health insurance coverage due to affordability constraints, medical schemes are advised to limit their cost assumptions for tariff increases to 5% plus reasonable utilisation estimates for the 2024 benefit year.

Contribution increases higher than CPI plus a reasonably assumed utilisation factor will be evaluated and approved on the strength of the motivation submitted. Only contribution increases that have been approved by the Registrar may be implemented by medical schemes. Moreover, it is advised against communicating any benefit changes or contribution increases before obtaining the necessary approval from the regulator.

Download the Circular here