One Million South Africans Say Goodbye To Medical Aide

1 million South Africans say goodbye to medical aid Is the sun beginning to set on medical aids in South Africa? Recent data shows medical schemes have lost more than 1 million members. Author image By Mary Alson 09-07-26 16:53 in News Medical aid/ man in ambulance 4 Medical aid becomes to expensive for consumers. Image: Pexels Google Preferred Badge Google News Badge In the current economic climate, South Africans are opting out of expensive medical aid schemes. Rather than spend their salaries on medical aid, consumers are choosing hospital and healthcare plans. According to experts, this consumer action is making the model unsustainable. Medical Aid Membership Declines The tide is turning for medical schemes. Despite generating billions, these schemes have to extract value from a declining customer base. ADVERTISEMENT According to data from Statistics South Africa (Stats SA), fewer South African households have medical aid today than 10 years ago. Medical aid membership declined from 18.1% of the population in 2014 to 15.5% in 2024. Dr. Paula Armstrong, speaking at the Board of Healthcare Funders conference, explained, according to Business Day, that if membership grew in relation to population growth, there would be 10.4 million medical aid beneficiaries. However, there are only 9.17 million beneficiaries, a deficit of 1.24 million members. Medical Schemes Face Collapse In an interview with CNBC Africa, Luyanda Njilo, Senior Equity Research Analyst at Nedbank CIB, explained that medical schemes fund their business model through contributions. They rely on premiums from younger and healthier members to subsidise the cost of medical care for older members. But with youth unemployment rising, that model risks becoming unsustainable. When asked why membership is declining, Njilo noted that the “main issue is affordability.” ADVERTISEMENT The cost of living had increased, but salaries were lagging. If medical aid fees increased by 10% annually, but salaries only increased at the rate of inflation, young people couldn’t justify the cost of membership. Njilo explained that the thinking among younger people was to opt out while they were still in their 20s. Then, when they reach their 30s, they would join. Consumers Search for Alternatives to Medical Aid Medical aid typically costs R2 000 for the primary beneficiary. Despite this cost, members may still have to pay some medical expenses out of pocket. A growing number of working South Africans are choosing to self-fund their medical costs. Those who don’t want to rely on savings or credit are choosing to leverage health care plans and hospital cover. This type of health care cover, offered by the likes of Dischem, has helped make access to private medical care more affordable for thousands of South Africans. 4 comments WIN R5 000: Take The South African’s Winter Reader Survey Tags: Featured Important medical aid South Africa Post navigation Next Article Previous U.S. Privacy PowerBall jackpot winner yet to claim R179 million Discover Coloured Afrikaner ‘refugees’ in US speak out: ‘We’re tired of lies’ Discover USA Consumer California: Program Will Install Solar At No Cost If You Live In These Zip Codes Read More Skip Transfer report: Premier League club target Bafana Bafana star Mbokazi Discover Orlando Pirates let go of Sesane because they already have ‘the new Mbokazi’ Discover California: Program Will Install Solar At No Cost If You Live In These Zip Codes Fed up with rising energy costs? 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