Jeremy Yatt, principal officer of Fedhealth says the scheme is delighted with the approval, particularly considering this is a significant departure from how other medical schemes in South Africa manage their day-to-day benefits. Traditionally members have been charged for day-to-day benefits from the beginning of the year regardless of whether they have seen a doctor or purchased medicine or not.
For the first time ever, Fedhealth has turned this model around. FlexiFED allows members to begin paying for day-to-day benefits only when they need them. They then have the flexibility to pay back that amount over 12 months, interest free.
“This is really great news for consumers who have been anxious for a new approach that gives them more flexibility, choice and control as well as saving them money,” says Yatt.
FlexiFED represents a completely new approach. “We believe it is going to transform the industry and change the way medical aid benefits are structured in the future,” concludes Yatt.