Circular-PI-MA-3-2002 – Amendment of Medical Aid Funds Act

NAMIBIA FINANCIAL INSTITUTIONS SUPERVISORY AUTHORITY (ESTABLISHED UNDER ACT 3 OF 2001) 8TH FLOOR SANLAM CENTRE, TEL 241 201/241 208, FAX 258957 & E-MAIL FVRENSB@IWAY NA

ENQUIRIES: EU TJIPEPA

REF. NO. 14/P

May 15, 2002

THE PRINCIPAL OFFICERS, NAMAF, TRUSTEES, ADMINISTRATORS, HEALTHCARE ADVISORS AND ANY INTERESTED PARTIES

CIRCULAR LETTER 3/2002

EVALUATION AND POSSIBLE RESTRUCTURING/AMENDMENT OF THE MEDICAL AID FUNDS ACT (ACT 23 OF 1995)

In view of the Registrar's objective to safeguard the appropriate degree of protection for members, and the financial soundness of funds, and given the supervisory authority and the statutory powers vested in it, it has become important to re-evaluate the current Medical Aid Funds Act (Act 23 of 1995) and to consider proposed amendments for possible ratification.

The office of the Registrar therefore, deem it necessary to consult with the healthcare industry, to hear their views and to submit proposals as to which parts of the Act need to be re-evaluated or amended in order to fit our current healthcare situation.

The compilation of a draft bill will thereafter be discussed with NAMAF as required in terms of the Act, and communicated to you again for final scrutiny prior to submission to the Honorable Minister of Finance for approval.

Kindly regard this issue as a matter of urgency and submit your views and opinions (proposals) to us by the latest June 30, 2002.

Your co-operation and assistance will be appreciated.

MARCELINA GADSES FOR REGISTRAR: MEDICAL AID FUNDS

BOARD: CHAIRPERSON: MS. A.C. NAKALE, VICE-CHAIR: MR. H.A.R. MEIRING, MEMBERS: MR. L. IPANGELWA & MRS. L. MOUTON CHIEF EXECUTIVE OFFICER: FRANS VAN RENSBURG