Regulatory Alerts2026-02-11
Medical Aid Funds Act, 2025
Enacted by the Parliament of Botswana and administered by the Non-Bank Financial Institutions Regulatory Authority, this Act establishes a comprehensive licensing framework for medical aid funds, administrators, brokers, and managed care organizations. It mandates a not-for-profit operational model, enforces minimum solvency and investment requirements, and standardizes governance through boards of trustees and principal officers while introducing late joiner penalties, waiting periods, and essential health service packages. The legislation further codifies data protection, administrative licensing, complaint mechanisms, statutory management powers, and winding-up procedures to ensure financial soundness and robust member protection across the healthcare financing sector.