Momentum Health Solutions offers certainty to its clients in an ever-changing healthcare industry
Momentum Health Solutions offers certainty to its clients in an ever-changing healthcare industry
Momentum Health Solutions has announced its healthcare solutions, benefit enhancements and product updates for 2023, with particular focus placed on how it will continue to support consumers amidst increasing costs of living and a healthcare landscape that is undergoing considerable reform.
Sustained growth with a favourable profile in a challenging market, coupled with stable financials, allowed Momentum Medical Scheme to announce a 6.4% annual effective contribution increase in the market, without reducing benefits. The deferred increase comes into effect on 1 April 2023.
“Momentum Medical Scheme’s robust performance throughout the COVID-19 pandemic and its stable financial performance has enabled the Scheme to assist members by introducing impactful solutions that cater to their individual needs,” says Damian McHugh, Executive at Momentum Health Solutions.
The Scheme has adjusted rates and reserves to account for increasing claims and conducts continuous monitoring to ensure it is adapting to changing market needs. “Medical inflation continues to increase, and we expect this will be on a greater scale in 2023,” explains McHugh.
Momentum Medical Scheme retained stability in their product offering, with no reduction in benefits in fact, in most cases the Scheme increased benefit limits and introduced product enhancements.
Some of the notable benefit enhancements for Momentum Medical Scheme include the expansion of virtual GP visits from the Evolve Option to the Ingwe Option. A sports injury treatment benefit was also added to the Evolve Option, in recognition of this option’s popularity among active individuals and families.
Perhaps the most significant evolution in Momentum’s offering comes in the launch of Multiply Inspire and Inspire Plus. While the existing Multiply Premier model remains unchanged for members who opt to stay on a programme they have become accustomed to, Inspire (free) and Inspire Plus (available at a lower fee than Premier) are intended to bring the focus back from loyalty rewards to supporting better health. In doing so, it will also become the first wellness rewards programme in the country to balance mental health and physical health in pursuing holistic wellness.
“Each product house in the Momentum stable will shape Multiply to suit their customer segment, and for us that means making it easier to improve your wellness, quicker to earn rewards and simpler to spend them,” says McHugh. “We are really excited about how this evolution of the programme will enable members to live inspired, bolstered by seeing improvements in their overall wellbeing.”
In line with its mandate to offer affordable healthcare to more South Africans, Momentum Health Solutions continues to lead in digital healthcare solutions by consistently innovating to provide world-class healthcare offerings that are easily accessible and convenient. An example of this is the Hello Doctor service that has yielded outstanding results across the country. The service has not only assisted members but has also established access to quality healthcare services in communities that rely on overcrowded state facilities for their healthcare needs. Community members can speak with skilled healthcare professionals virtually and receive the appropriate treatment.
The establishment and implementation of the National Health Insurance (NHI) will be of greater focus in 2023. Momentum Health Solutions has reaffirmed its commitment to supporting government in its endeavour to create equal access to quality healthcare services for all through a reformed healthcare system that is fair, equitable, workable, and sustainable for all South Africans.
Turbulent economic conditions will continue in 2023. As such, Momentum Health Solutions has committed to implementing cost-effective and flexible healthcare solutions that not only provide comprehensive healthcare cover for its members but create opportunity for the uncovered population to gain access to quality healthcare services by delivering more health to more South Africans for less.
McHugh concludes, “Momentum Health Solutions remains focused on innovation and problem solving and is committed to establishing holistic healthcare offerings that meet the needs of companies and individuals across the spectrum, uniquely positioning us to provide safe, affordable and seamless healthcare services to our clients and beyond.”
-ENDS-
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ABOUT MOMENTUM HEALTH SOLUTIONS
The health division of Momentum Metropolitan Holdings, Momentum Health Solutions, focuses on providing integrated healthcare solutions that range from medical aid cover to health insurance, savings accounts for healthcare expenses, lifestyle improvement incentive programmes and more.
For more information, visit www.momentum.co.za
Published: 23 September 2022