National Treasury and the Financial Sector Conduct Authority have published the 2024 benefit escalations affecting:

health policies regulated under the Long-term Insurance (LTI) Act, 1998, and

accident and health policies regulated under the Short-term Insurance (STI) Act.

This is noting that certain policies have been excluded from the Medical Schemes Act, 1998, since April 2017 – when demarcation regulations under both Acts came into effect. As far as can be ascertained, the escalated benefits came into effect on 1 April 2024.

According to an accompanying joint media statement, the demarcation regulations provide for an automatic annual escalation informed by the Consumer Price Index.

Published by SA Legal Academy Policy Watch

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