announced a contribution increase well below that of its major competitors,
Momentum Health has not only grown faster than the industry average over the
past years, but it also retains the enviable position of boasting the lowest
average member age out of the top ten open medical schemes in South Africa.
able to go into 2014 with an average family increase of only 7.2%, due to a
combination of very positive indicators,” says Head of Marketing and Sales,
Damian McHugh. “The strong rise in our solvency levels to 29% - now well above
the industry requirement - has surprised many and provides a solid base for our
look at how challenging several of the major medical schemes in the country are
finding it to fund their claims without tapping into their reserves, it gives
you a real appreciation of the solid fundamentals underlying our business
model,” adds McHugh.
On the back
of its “your health is your wealth” philosophy, the Scheme also endeavoured to
keep co-payments unchanged for the coming year, while increasing all benefit
limits and announcing enhanced complementary products. For instance, Momentum’s
Health Returns programme now allows members to earn free GP visits, increased
specialist cover and up to R5 400 per year. Over 40 partners are now available
through Multiply, Momentum’s rewards programme.
New initiative launched
particular interest was the launch of Hello Doctor as a free service to
Momentum Health members. Access to this online provider of healthcare advice
and services means the Scheme’s members can find answers to health related
questions in live online forums, get a doctor to call them back within 60
minutes, research medical conditions in an extensive medical library and much
addition of the Hello Doctor mobile app, members effectively have “a doctor in
their pocket”, providing them with great peace of mind.
Health was one of the first medical schemes in SA to launch a mobisite, where
members could access claims, membership and other helpful details, or look up
the doctor closest to where they found themselves at any given time.
Draft FCB Redline on behalf of Momentum Health