Vitality is the largest wellness programme in South Africa, as well as globally. It helps members know their health, improve their health and enjoy rewards. Here are the highlights of the 2024 update: 1. The next evolution of HealthyFood Since its introduction to the Vitality programme in 2009, the Vitality HealthyFood benefit has succeeded in making healthy choices more affordable, driving behaviour change and ultimately resulting in better health outcomes for members. Vitality HealthyFood is a benefit loved and used by members. The most popular food items purchased are: Bananas (3.6 million bags) Potatos (3.1 million bags) Cucumber (2.8 million) Grocery delivery has become increasingly popular with South African households since the COVID-19 pandemic, becoming a part of the weekly routine for many and influencing the choice of preferred grocery retailer. In 2024, it's enhancing the benefit by introducing Checkers as a new Vitality HealthyFood partner. Checkers' home delivery service, Sixty60, has already become a household brand. It will go live on Vitality in the second half of 2024. Plus, it's revamping the benefit by offering members the choice of an in-store and online grocery partner. For example, a member can choose Woolworths as the Primary in-store partner and Checkers as the Primary online grocery partner. 2. Exercise anywhere with Vitality Fitness For over 25 years, Vitality’s fitness benefits have driven hundreds of thousands of Vitality members to get healthier and rewarded. From 2024, we’re addressing individual exercise needs with Vitality Fitness – a first-of-its-kind integrated exercise ecosystem. Through Vitality Fitness, members can now access a variety of exercise opportunities at the gym and beyond. This includes combat sports, CrossFit, dance, HIIT, pilates, padel, yoga. 3. Encouraging engagement with the Vitality Health Check The Vitality Health Check gives Vitality members a valuable snapshot of their health status. By completing a Vitality Health Check, members can detect lifestyle-related diseases early and manage their health risks with tailored interventions. In 2024, the Vitality Health Check becomes more valuable than ever before, with discount structures and Vitality points being adjusted accordingly. All rewards including flights, HealthyFood, HealthyCare, Sports gear and equipment require an annual VItality Health Check to increase the discount to 25%. 4. Introducing a new measure of cardio fitness to the Vitality programme
Cardio fitness is a measure of how well the respiratory and circulatory system supply oxygen during sustained periods of physical activity. The most reliable and valid measure of cardio fitness is VO2 max. From next year, members will earn up to 10,000 Vitality points based on their VO2 max estimates measured on their Apple, Garmin or Samsung fitness device. 5. Improving the experience for new Vitality member From December 2023, new Discovery Health Medical Scheme members who have signed up for Vitality will have immediate access to Vitality benefits and rewards and no longer have to wait until the start date of their health policy. New Discovery Health Medical Scheme members joining Vitality get to enjoy Vitality for free from the month they join, as well as the following 2 months. 2024 Vitality premium: Single R359 M+1 R439 M+2+ R509
0 Comments
On the 26th of September, Discovery announced its Discovery Health update for 2024. Below are the highlights: 1. Transforming members’ healthcare experience with the new Discovery Health app Your gateway to a personalised, end-to- end healthcare journey. Conveniently access care and manage your health and health plan benefits in a single app. The new app also enables new benefits for all members of Discovery Health Medical Scheme including Virtual Urgent Care, Virtual Physical Therapy, the Mental Health Assessment Benefit and digital therapeutics for mental health. You can already download the app from the App Store and Google Play. 2. Balancing affordability, sustainability and value for members in 2024 and beyond Increases to contributions for 2024 will be plan specific and will range from 0% to 12.9%, to maintain contributions in line with expected claims experience, while supporting affordability for members. Targeted plan and benefit updates for the Comprehensive series and KeyCare series ensures long-term sustainability of the benefits offered by these plans. The Comprehensive series currently has five plans. It will be consolidated into two options in 2024: Classic Comprehensive and Classic Smart Comprehensive. 3. Creating personal health pathways for all members In 2024, all Discovery Health Medical Scheme members will have access to a personal health pathway that predicts the most important actions they can take to improve their health. Members are encouraged to complete actions through an intelligent, gamified experience, which has been personalised for every adult member on the Scheme. 4. Expanding access to healthcare cover with Flexicare Flexicare is a health insurance product designed to provide a wide range of day-to-day healthcare benefits with optional add-ons, such as such as unlimited GP consultations, medicine, dentistry, optometry and so much more. Flexicare will be enhancing its primary healthcare offering in 2024 to include a nurse-led clinic pathway that provides increased access to quality primary healthcare at an affordable price point. The 2024 Discovey Health contribution table is as follows: The most affordable medical aid plan independent of income is Essential Dynamic Smart, R1,565 per month.
The most expensive plan, which provides the most comprehensive benefits, is the Executive Plan, which costs R10,303 per month. If you want to get or review the medical aid for your employees, please call our Health Department on 011-658-1333 or email service@daberistic.com. All the large open medical schemes in South Africa have announced their contribution increases for 2024. Below is the list. Discovery Health says the average weighted increase across DHMS plans is 7.5% for 2024. Excluding the Medical Savings Accounts, the increase on Risk Contributions is 10.5%.
If you want to review your medical aid plan, please call our Health Department on 011-658-1333, Option 2 or email service@daberistic.com. Medical aid members should prepare for substantial premium increases from Discovery, Momentum, and Bonitas in January due to inflation and other costs. Discovery Health Medical Scheme will see an average 7.5% increase in premiums, with about 27% of members facing hikes exceeding 10%. The Executive and Coastal Core plans will experience the most significant increases at 12.9%, while the Classic Saver plan will rise by 3%. Momentum Medical Scheme anticipates a 9.6% weighted average premium increase for 2024, and Bonitas Medical Fund plans a 6.9% increase across its nine plans. Damian McHugh, Chief Marketing Officer of Momentum Health Solutions, mentioned rising claims costs and inflation driving up average claim expenses. Dr. Ryan Noach, CEO of Discovery Health, highlighted Covid-19 costs, which totaled R700 million last year, and the impact of high interest rate hikes on members. Bonitas observed a 25% increase in mental health hospital admissions, especially in the 18 to 44 age group, attributed to economic burdens and psycho-social challenges. Profmed Medical Scheme's CEO, Craig Comrie, stressed the challenge of healthcare inflation, driven by advanced medical technologies and the rising prevalence of diseases. He also noted potential cost increases to R2,600 per member per month within a decade, surpassing salary inflation. Rising claims costs are influenced by factors like medical technologies and lifestyle-related health conditions. Changing demographics, an aging population, and increased health conditions contribute to the cost burden. Younger members joining medical schemes later in life due to rising unemployment disrupt the traditional cross-subsidization model. This challenge is unique to South Africa and requires healthcare reform. The issue of rising healthcare costs is not unique to South Africa and presents a global challenge, driven by longer life expectancies and the need for extensive healthcare services. Most of our clients are now installing solar systems because of the incessant loadshedding that are being faced by South Africa. A number of the Insurers are now endorsing policies that effect 01/11/2023 with this and I think there is merit in us conscientizing our clients so that they understand and also know what the policy says in respect of the risk and also what happens if they do not adhere to the warranties : Installed Solar System - means a system comprising of a solar panel array, inverter and other electrical hardware which has been installed by a Suitably Qualified Electrician. Such system comprises of either an Electrical Installation (inclusive of but not limited to inverters and generators) or one or more solar panels that uses energy from the sun combined with Electrical Installations or battery power to generate electricity. Suitably Qualified Electrician - means a licenced electrician who has completed a formal qualification in order to fulfil competency requirements essential by law and in conjunction with relevant work experience as is necessary to perform the job for which they are employed. Such licenced electrician must be registered in terms of the Electrical Installation Regulations (2009) as amended from time to time and must either be a licenced electrician or must employ one as a contracting firm or individual in their full time employ for the purpose of fulfilling Electrical Installations. Electrical Installations - means machinery and equipment, in or on any premises, that is used for the transmission of electrical energy from a point of control to a point of consumption anywhere on the premises, inclusive of any article that forms part of such an installation, irrespective of whether or not it is part of the electrical circuit. THE ENDORSEMENT
The option to replace, reinstate or repair your Installed Solar System remains at the Insurer’s discretion and You must have a valid claim for the Installed Solar System. INSTALLED SOLAR SYSTEM CERTIFICATE OF COMPLIANCE WARRANTY You agree that You will obtain the Certificate of Compliance (COC) once testing, commissioning and hand over has been completed. Insurers reserve the right to call for the COC in the validation of any claim made hereunder if this has not been provided to them at the time of Insurers accepting cover for the Installed Solar System. You will forfeit Your right to claim hereunder if You fail to comply with the COC requirement and the Insurance company(Insurers) will be entitled to reject Your claim if they establish that You have not complied with the provisions of this Installed Solar System Certificate of Compliance Warranty. SPECIFIC EXCLUSIONS: The Insurers will not indemnify You for:
If the Insurance company allege that loss or damage is not covered by this Policy, the burden of proving the contrary will rest with You and they will be entitled to reject Your claim. For our investors investing in Morningstar Managed Portfolios, click below to access the latest performance snapshot, market commentary and market performance summary:
Morningstar SA Managed Portfolios Morningstar Global Managed Portfolios (USD) Market Commentary - SA and Global Market Performance Summary - SA and Global Morningstar's Electric Observer takes an in-depth look at investment opportunities throughout the value chain as EVs and hybrids will be 2 of every 3 autos sold globally by 2030. In 2022, battery electric vehicles represented nearly 10% of global auto sales, up from a little less than 6% in 2021. Much of the growth occurred in China, which has been a leader in EV sales over the past decade. However, with national EV subsidies in China expiring in 2022 and far lower sales in the U.S. and Europe, the market questions if EV sales can continue to grow without subsides. Source: Morningstar
|
AuthorKevin Yeh Archives
January 2025
Categories
All
|