Momentum freezes contribution hikes until September 2022
Momentum Medical Schemes announced that contribution increases will be held off until September 2022. It plans to increase the average monthly contributions by 6% in the last four months of 2022, which will effectively translate to a 2% increase for the year, reported Fin24 (28 September 2021). Although the Council for Medical Schemes (CMS) recommended that medical aid companies limit their 2022 contributions increases to 4.2% or less, some said the uncertainty of future Covid-19 claims made it hard to do so. Medshield announced a 6.3% weighted average contribution increase across the scheme and Bonitas a 4.8% hike across all plans, but the premium on its BonStart option will decrease by 7.9%. Bestmed’s contributions will go up by 3.9%, and Key Health Medical Scheme’s by 4.6%.