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HEALTH, ACCIDENT INSURANCE REGULATIONS: POLICY BENEFIT ESCALATIONS PUBLISHED
- 17 May 2023
- Financial Sector
- SA Legal Academy
National Treasury has issued a media statement on health and accident insurance benefit escalation tables retrospectively in force from 1 April 2023.
This is noting that demarcation regulations under the amended Short- and Long-Term Insurance Acts, 1998, specify which types of contracts are excluded from the Medical Schemes Act, 1998.
Health insurance contracts are regulated under the Long-Term Insurance Act, while accident and health contracts are regulated under the Short-Term Insurance Act.
The demarcation regulations provide for an automatic annual escalation in benefits based on the consumer price index inflation rate.
- media statement
- short-term insurance benefits
- long-term insurance benefits
Published by SA Legal Academy Policy Watch
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