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 benefits.