Regulatory Alerts2021-11-11
Added · Updated
MAF.S.7.13 – Waiting Periods and Other Periods
The Namibia Financial Institutions Supervisory Authority issued Standard MAF.S.7.13 to regulate general and condition-specific waiting periods for all registered medical aid funds under the Financial Institutions and Markets Act, 2021. The standard permits funds to impose up to three-month general waiting periods and twelve-month condition-specific waiting periods on new members or dependants, while detailing carry-over rules for applicants with prior continuous coverage. Additionally, it mandates that funds cover the costs of required medical tests or examinations when requesting a medical report for conditions treated within the preceding twelve months.
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