Regulatory Alerts2021-11-11
Added · Updated
Provision of Written Proof of Membership
NAMFISA has issued Standard MAF.S.7.7 under the Financial Institutions and Markets Act, 2021 to regulate written proof of membership for all registered medical aid funds. Funds must issue initial membership certificates containing specific identifiers, benefit dates, waiting periods, and provider limitations, while also providing termination cover certificates within thirty days upon request. These certificates must be forwarded to subsequent medical aid funds upon request, ensuring seamless coverage tracking for members and dependants.
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