[INFOGRAPHIC] Key statistics and trends in the medical scheme industry
NMG Benefits Actuarial and Specialised Services division have analysed the key statistics and trends in the medical scheme industry derived from the latest Council for Medical Schemes’ (‘CMS’) Annual Report 2014-2015, in conjunction with the previous CMS reports. The 15 largest open medical schemes as well as the Government Employees Medical Scheme have been considered, which accounts for 98% of the open medical scheme market and 42% of the restricted medical scheme market respectively. The 16 schemes combined account for 75% of the total medical scheme market and therefore has a significant influence on the overall medical scheme market. The major continuing trends identified are as follows:
· Growth in the medical scheme market continues, albeit at a slow pace.
· The underlying population of the industry continues to age, showing commensurate increases in the market’s chronic prevalence and average cost of Prescribed Minimum Benefits