Pula Medical Aid expects poor results

02nd August 2017
AFA MD, Duncan Thela. Source:The Midweek Sun


By Keikantse Lesemela - Reporter

Pula Medical Aid is expecting lower profits by the end of the year as a result of rising due to costs driven by the rising cases of non-communicable diseases, a top executive has disclosed. At the end of 2016/17 third quarter (March 2017), the fund recorded P7.8 million surplus against P22.7 million recorded in the prior period. Presenting the fund’s performance, Associated Fund Administrators’ Managing Director Duncan Thela said the decline was caused by high health care costs claims which increased by P21.6 million (14 percent year on year).

“This increase is mostly the effect of the rising cases of non-communicable diseases. We are expecting losses this year,” said a downbeat Thela. The Fund has also seen its membership declining to 17 469 from 17849 members in December 2016 due to provisional liquidation of BCL mine. Thela explained that on average 25 408 beneficiaries per quarter were provided access to private health care service from local facilities and those outside the country.

On average per quarter, this year the fund paid P26.9 million for high frequency low cost claimers, P13.6 million for medium cost claimers and P12.6 million for low frequency claimers. Furthermore Thela said they are compliant with all regulatory, financial and operational obligations with Non-Banking Financial Institutions Regulatory Authority (NBFIRA). He said as Pula Medical Aid Fund their mandate is to take care of the health of the people.

“The fund is expected to continue to meet all its obligations and facilitate access to private health care services by all its beneficiaries,” he said. Meanwhile, Pula Medical Aid has also introduced two new products, the Galaxi and Flexi covers, which offers annual overall limit of P100, 000 and P60, 000 respectively. The galaxy benefit option offers inpatient and outpatient medical cover whilst Flexi benefit option provides only outpatient cover.

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