Medscheme Medical Aid
Medscheme is the largest and most prominent medical aid administration
and health care management company in South Africa. It was established over 35
years ago, which translates into a wealth of experience that is put at the
disposal of clients. The company is divided into 3 primary divisions: financial
services, health risk solutions and health care administration. Its business
model is to form strategic health care partnerships with its clients to inform
their business needs in ways that make the most sense for them. It provides
these solutions for individuals, corporations and other medical schemes.
Medscheme has a very strong BEE component, having sold 73% of operations to
black-owned Lethimvula Investments in 2006.
Medscheme offers both closed and open medical aid schemes. Closed
schemes are designed for large corporations, to be offered to them employees.
Membership is limited to employees of specific companies or company types,
members of unions or members of specific trades, industries or professions. Its
client list for these schemes reads like a who`s who of South African blue-chip
companies, and includes the likes of AECI, BMW, Barloworld, Ellerines, Sasol and
Siemens. Medscheme provides all the coverage requirements of these corporate
medical aid schemes, as well as looking after all the administrative aspects.
The open medical aid schemes are smaller schemes designed for small groups or
individuals. As tax structures and company remuneration structures have changed
over the years, smaller employers have increasingly started recommending that
employees join open schemes, rather than providing closed dedicated employee
schemes. Membership of these open schemes is available to anyone. A list of
these types of schemes includes some well-known names in the South African
medical aid industry, including Bonitas medical fund, Fedhealth and Liberty.
Each of them has their own structure, packages and products, and schedule of
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|4/5/2008 9:40:13 AM|