CMS reports deficit of R19.64m
The Council for Medical Schemes (CMS) reported an accumulated deficit of R19.64-m for the 2019/2020 fiscal year. (Business Day 16 Nov 2020). Its latest annual report was tabled in Parliament earlier this month, and for the first time in more than a decade it has reported an accumulated deficit. In the report, CMS registrar Sipho Kabane attributed the deficit to the regulator’s growing mandate, which he said had not been matched with a commensurate increase in its budget, echoing a concern he raised in parliament last year.