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Currently, there are seventy (70) medical schemes registered and regulated under the Medical Schemes Act, and when combined, generate more than R226 billion in gross contribution annually. The study analysed fifty (50) of the medical schemes and most interestingly, white CEOs still dominated relative to their black counterparts. According to the study’s analysis, of the fifty (50) medical schemes, there were thirty-two (64%) white CEOs as opposed to eighteen (36%) black CEOs.

Press Release 5/2023: CMS releases findings on gender pay gaps amongst medical scheme CEOs

Transformation targets in the medical scheme industry have not been adequately analysed until recently. The latest research study published by the CMS indicates disparities in gender pay among the medical schemes CEO’s. 

Currently, there are seventy (70) medical schemes registered and regulated under the Medical Schemes Act, and when combined, generate more than R226 billion in gross contribution annually. The study analysed fifty (50) of the medical schemes and most interestingly, white CEOs still dominated relative to their black counterparts. According to the study’s analysis, of the fifty (50) medical schemes, there were thirty-two (64%) white CEOs as opposed to eighteen (36%) black CEOs. 

 Against this backdrop, the study also found that the median pay of CEOs was higher in open schemes than in closed schemes. In large schemes, the pay gap between male and female CEOs was 39%; while in the small schemes was at 6%.’ 

When adjusting for gender, the results further indicated that twenty-three (46%) of the CEOs were females, while twenty-seven (54%) were males. CEO fees increased with scheme size but differed by scheme type. Open schemes paid more than restricted schemes. 

Download the Press Release here.

Download the Research study here.

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