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HEALTH AND ACCIDENT INSURANCE BENEFIT ESCALATIONS PUBLISHED
- 30 May 2024
- Financial Sector
- SA Legal Academy
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.
- LTI policy benefits schedule
- STI policy benefits schedule
- media statement
Published by SA Legal Academy Policy Watch
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