Regulatory Alerts2007-08-14
Added
Circular-PI-MA-1-2007 – Discounted Membership Fees Charged by Medical Aid Funds
Medical Aid Funds are prohibited from offering discounted membership fees to new or existing groups, as such practices contravene the Medical Aid Funds Act and its Regulations. Charging fees not approved by the Registrar violates Section 31(1) and Section 30(1) of the Act, while offering discounts constitutes an illegal reward under Regulation 3(1). Funds failing to desist from these practices face enforcement actions, including fines up to N$ 10,000.00 or imprisonment for up to 10 months under Section 45 of the Act.
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