Momentum Medical Scheme provides certainty in uncertain times
The HealthSaver solution offered by Momentum allows members of Momentum Medical Scheme to fund their contributions from their HealthSaver accounts
In September, Momentum Medical Scheme announced a weighted average annual contribution increase of 3.9% for 2021 as a result of sustained growth with a favourable profile in a stagnant market, coupled with stable financials. This represents one of the lowest contribution increases in the market, without reducing benefits.
“Momentum Medical Scheme’s average age of members sits well below the industry average, and as a result, our long-term claims forecast allows us to keep contribution increases lower than the majority of our competitors for 2021,” said Damian McHugh, Momentum Health Solutions marketing head.
When factoring in a pandemic like Covid-19, the impact of a favourable member profile becomes vital. “While we have made provision for the unexpected future pandemic-related costs, we are able to focus more on helping our members retain their medical aid cover during these tough economic conditions. Momentum Health Solutions is committed to innovating to meet the needs of our members, which is why we have focused on flexibility in our product offerings, which can be tailored to fit each person’s individual needs.”
The HealthSaver* solution allows members of Momentum Medical Scheme to fund their contributions from their HealthSaver accounts, which means members who have positive balances can retain their medical aid cover, even if they have experienced cash flow shortfalls due to sudden unemployment or illness.
“The HealthReturns that members of these schemes can earn from Momentum through being active and living a healthy lifestyle has now made it possible for them to fund continued cover, in other words members are able to use their healthy lifestyle to also protect them financially as the pandemic continues,” says McHugh.
Momentum is also proud to have announced a significantly low contribution increase with no reduction in benefits. “Just like you can upgrade or downgrade your car, so too can members decide to invest in their health, without compromising on their benefits,” says McHugh.
New enhancements to the HealthSaver account will allow contributing clients to earn up to 10% interest, depending on their Healthy Heart score and activity level. An innovation flowing from the company’s philosophy to provide more health to more South Africans for less, is the ability to donate GP visits to those in need. Clients simply use their HealthSaver funds to buy a voucher that recipients can use to see any doctor on the NetcarePlus GP network.
McHugh said, “Momentum Health Solutions remains focused on innovation and problem solving. In so doing, it strives to meet the holistic health-care and financial needs of companies and individuals across the spectrum, positioning us to provide a safe, affordable and seamless life journey to our clients.”
* Momentum Medical Scheme members may choose to make use of additional products available from Momentum, to seamlessly enhance their medical aid. Momentum is not a medical scheme and is a separate entity to Momentum Medical Scheme. These complementary products are not medical scheme benefits.
For more, visit the Momentum Medical Scheme website.
This article was paid for by Momentum Medical Scheme.