LA Health the second most sustainable scheme in South Africa

Alexander Forbes, an independent healthcare consulting company, recently released their 2015/2016 Diagnosis Report. This report is based on 2014 data.

 In this report, Alexander Forbes considered the following performance indicators for each year from 2007 to 2014, with the final score reflecting the growing impact over this period:

- The Scheme’s size, relative to the average scheme size in the industry

- Membership growth over time, which show that the Scheme benefits are attractive

- The change in average age of beneficiaries over time

- The Scheme’s operating results (and those per beneficiary, per year), relative to industry trends

- The change in accumulated funds per beneficiary at each year end

- The actual solvency, relative to the statutory requirement, and the solvency trend for the Scheme

LA Health scored well on all components of the index. There was a slight increase in the Scheme’s positive operating result from 2013, as well as an increase in the size of the Scheme and an improvement in the age profile. Therefore, LA Health improved its score by 18.1% at the end of 2014 and was rated the second most sustainable medical scheme in the country.  More importantly, the Scheme was rated the best of all schemes operating in Local Government.

From 2014 there have been further positive outcomes for the Scheme in all the indicators used by Alexander Forbes, and the findings of these independent experts confirms members’ confidence in LA Health’s ability to continue to provide excellent benefits and value for money.