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| Filename | Fedhealth-Credit-Rating-Report-2022.pdf |
| Filesize | 221.49 KB |
| Version | 1 |
| Date added | October 11, 2022 |
| Category | Credit Rating Reports, Insurance |
| Tags | South Africa |
Fedhealth was established as an open medical scheme. The scheme is administered by Medscheme. The scheme’s products are categorised into three ranges, which include the low cost option, MyFed. The product ranges cater for market segments at different life stages from comprehensive options like Maxifed, for conservative and sicker members to affordable options such as Flexifed, for young and healthy members.
Fedhealth continues to focus on balancing affordability with reserve utilisation, aiming to grow the membership base without adversely impacting the financial sustainability of the scheme. This is accompanied by various claims control measures including tariff negotiation. The scheme aims to continue to enhance its products to attract and retain members, with the growth strategy tilted towards the lower cost options. The scheme has maintained a strong financial profile, characterised by a very strong solvency margin and broadly positive operational cash flow generation.