Rule · NAMFISA · 6 Sep 2019
The Registrar of Medical Aid Funds has not approved the increase in contributions implemented by Heritage Health Medical Aid Fund for the 2019 year. Consequently, members of Heritage Health and the public are not obligated to pay the difference between the 2018 and 2019 contribution rates, as such alterations to the fund's rules are invalid without the Registrar's approval under section 31(1) of the Medical Aid Funds Act, 1995.
UNAPPROVED 2019 CONTRIBUTION RATES
HERITAGE HEALTH MEDICAL AID FUND
The Namibia Financial Institutions Supervisory Authority ("NAMFISA") hereby notifies the members of Heritage Health Medical Aid Fund ("Heritage Health"), and the public at large, that the increase in contributions that were implemented by Heritage Health for the 2019 year have not been approved by the Registrar of Medical Aid Funds ("the Registrar").
In terms of section 31(1) of the Medical Aid Funds Act, 1995 (Act No. 23 of 1995)("the Act"), no alteration, rescission or addition to a registered medical aid fund's rules shall be valid unless it has been approved by the Registrar and registered under section 31(2) of the Act.
In light of the above, members of Heritage Health and the public at large are not obligated to pay the difference between the 2018 contribution rates and the 2019 contribution rates, as the said difference is not approved by the Registrar.
The Registrar: Medical Aid Funds
Postal Address: PO Box 21250
Windhoek
Physical Address: 1st Floor, Sanlam Centre
154 Independence Avenue
Windhoek, Namibia
Enquiries: Ms. Itaveleni Hedimbi
Tel: (061) 290 5125
Email: ihedimbi@namfisa.com.na
Kenneth S. Matomola
REGISTRAR: MEDICAL AID FUND
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Source: Namibia Financial Institutions Supervisory Authority — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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