The Medical Schemes Act allows for employer groups to switch between medical schemes on 1 January of every year without any waiting periods. This is referred to as Concession Business. The closing date for consider is 29 September 2019. Thereafter all applications will be underwritten as part of the normal course of business.
The following criteria apply to all applications for 2020 Concession Business for joining Momentum Health:
- The employer group’s date of commencement must be 1 January 2020
- A legitimate employer/employee relationship must exist
- Employer groups need to have a minimum of two employees
- Self-employed individuals do not qualify for the underwriting concession
- Billing and contribution collection will always be in advance, by debit order only
- It must be compulsory for all staff on an existing medical scheme to transfer their membership to Momentum Health
- Employees who are not beneficiaries of an existing medical scheme will be subject to full underwriting
- Late joiner penalties may be imposed, where applicable
- The balance of any existing waiting periods or exclusions will be applied.
If you need more information regarding Concession Business, please contact an Infinite Health Specialist.