Regulatory Alerts2003-07-10
Added
Circular-PI-MA-3-2003 – Health Consultants
Medical aid funds are restricted to remunerating healthcare consultants for introducing new members at a rate of 3% of the gross premiums payable by those members for the first twelve months, provided the members remain enrolled. Healthcare consultants are prohibited from providing administrative services to funds or contracting with fund administrators without prior written approval from the Registrar of Medical Aid Funds. Boards of Trustees must review and exclude healthcare consulting services from administrator contracts within thirty days of the circular's issuance. The document amends Circular Letter 7/2002 and Circular Letter 4/2002, taking effect on July 1, 2003, and declares the appointment of administrators' officials as healthcare consultants an irregular practice.
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