2015 Chairman’s year-end Message
It is my pleasure to report that the Scheme continues to provide excellent service to its members and that the transition of the administration to Discovery Health has been professionally and successfully managed.
According to feedback from members, the 2015 benefit improvements were well received. Utilisation of the member savings accounts on the Managed Care Plan increased directly as a result of the additional funds that were made available this year. This was particularly evident in the increased number of claims processed for purchases made from pharmacies for acute and over-the-counter medicines. Previously, these costs would have been borne by members as out-of-pocket expenses.
Both the Standard Care and Value Care Plans continued to offer exceptional value for money and remain the plans of choice for new members joining the Scheme.
2015 has been a tough year economically; investor confidence has declined, there has been significant market volatility and, all round, businesses and job security have been under pressure. The Scheme has not escaped the consequences; membership continued to decline and the investment returns have been lower.
On average, members have experienced more health challenges this year with a sharp increase in hospital and related costs. But, with that said, all indicators point to the Scheme only falling marginally short of budget by year-end and generally performing in line with the Trustees’ long-term funding predictions.
Looking ahead, the Scheme is cognisant of the financial pressures many of our members experience, and has set the 2016 contribution increases at the lower end of the industry. In addition, there are also some benefit improvements.
In closing, I would like to wish you all a restful, safe holiday season.