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Updated 19 September 2013

Momentum Health announces low contribution increase

Momentum Health announced a contribution increase well below that of its major competitors.

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Having 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.

“We are 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 long-term stability.

“If you 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

Drawing 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 more.

With the addition of the Hello Doctor mobile app, members effectively have “a doctor in their pocket”, providing them with great peace of mind.

Momentum 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.


Issued by Draft FCB Redline on behalf of Momentum Health

 
 
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