Covid-19 impact on the Scheme – update

The impact of the pandemic on the Scheme has been less severe than originally predicted.

So far, approximately 2.6% of all beneficiaries have been infected, about 0.75% of beneficiaries have been admitted to hospital and by far the majority were discharged. A small number required continued home oxygen and post-Covid support. The mortality rate is less than 0.2% of total beneficiaries and the average age at death was 77.

Our Covid-19 cost per case is somewhat higher than the industry average due to our higher average age but, luckily, Covid costs have been more than offset by a significant decrease in elective procedures and visits this year. Claims are now picking up again, and it is expected that by year-end the monthly claims will be more-or-less back to normal. For 2021 it is predicted that there will be a greater demand for healthcare, due to procedures having been delayed or postponed in 2020.

As previously confirmed, the Scheme is still able to absorb the Covid-19 costs and provide all necessary benefits.