Regulatory Alerts2005-09-16
Added
Circular-PI-MA-2-2005 – Contribution and Benefit Changes
Medical aid funds must submit rule amendments regarding contribution increases and benefit changes to the Registrar no later than October 31 of the preceding year. These submissions must include the information requested in Circular Letter PI/MA/6/2003, such as recent management accounts, member numbers per option, and financial motivation for retained benefits. The Registrar aims to assess and approve these changes before the financial year begins, with implementation effective January 1. Implementing any benefit or contribution changes before obtaining Registrar approval constitutes a direct contravention of the Medical Aid Funds Act, 1995.
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