Why are medical aids so expensive?

Medical aids will soon be increasing their fees for 2017. While the rates are very high many feel its a necessity in order to avoid ending up in state hospitals.

Jill Larkin, Head of GTC Health Care Consulting answered the question 'why are medical aids so expensive'?

Members of the medical aid continue to use the medical aid to such a degree that they have no choice but to up the premiums if we wish to enjoy the level of cover we currently have.

Jill Larkin, Head of GTC Health Care Consulting

Larkin says she thinks there are enough medical aids schemes to create enough competition. She says there are 26 medical aid schemes with about 208 options which members can choose from.

A health care market inquiry run by the Competition Commission shows that there is lack of competition in the industry.

Larkin also said that government is working hard to improve services and match medical schemes but it is moving too slowly.

To hear why medical aids are so expensive, listen below:

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