Liberty Medical Scheme announces exciting benefit enhancements for 2014, while keeping cost increases low
On the back of steady member growth, tight control of costs and strong relationships with healthcare provider networks, Liberty Medical Scheme (LMS) has contained member contribution increases to 9,5% (weighted average) across all options for 2014. This increase is against the backdrop of product enhancements, benefit increases and inflationary limit increases for members on different options.
“We aim to provide the best possible healthcare benefits for our members, while offering them wellbeing benefits and a wide choice of options to suit their pocket,” says Liberty Medical Scheme Executive Principal Officer, Andrew Edwards. “We are on track to deliver on our strategy to empower our members through knowledge and information and continue to provide options that give members access to quality healthcare when they need it most.”
Liberty Medical Scheme covers more than 118 000 beneficiaries and after a few years of attrition has started on a growth trajectory. New business grew 39% in the past 12 months, with lapses steadily decreasing over the same period.
“What’s more is that our solvency levels are maintained at the statutory requirement of 25%, giving our members the assurance that we are financially stable scheme,” adds Edwards. He says when comparing annual increases between schemes, consumers should be on the look-out for ways that some schemes disguise increases.
Liberty Medical Scheme has managed to keep increases low, while improving benefits by 7% and increasing the annual limits across all options. It has also simplified its offering to four benefit options: the Traditional; Complete; Saver; and Hospital options.
Some of the enhancements to options for 2014 include:
– 7% increase to all benefit limits except prostheses limits (2013 limits apply)
– Co-payments to stay at 2013 rates or lower;
– Osteoporosis added as a chronic disease on the Traditional Ultimate and the Complete Plus options;
– The cost of harvesting organs in a private setting to be covered;
– MRI and CT scans to be paid from risk and not day-to-day limit on the Traditional Ultimate option;
– Childhood immunisations included as part of primary care benefits on the Traditional Standard option;
– Increased number of GP visits from a maximum of 9 per family to 15 per family and 6 per beneficiary on the Traditional Standard option.
– More hospitals added to the Select Network on the Saver Select and Hospital Select options.
In an exciting development to reward members to switch to electronic forms of communication and online self-service, Liberty Health, as Liberty Medical Scheme’s administrator, will also offer members free uncapped high-speed ADSL data for one year on its Own your life Rewards programme, worth R3540.
“We believe that members can empower themselves to live healthier lives through knowledge and access to information and this new offer provides them with a means to do this,” says Edwards.
In keeping with the scheme’s vision to be an organisation which cares for its members not only when they are ill, but when they are well, Liberty Health will also launch its Wellbeing Programme early next year. “The innovative programme offers a range of tools to empower members on their journey to better health outcomes,” says Edwards. “The Liberty Health Wellbeing Programme aims to help members to use their medical scheme benefits to live healthier, longer lives.”
Edwards says the programme is designed to care for members when they aren’t well by providing access to appropriate, quality and sustainable care; and when they are well, to empower them with the tools to identify and manage potential health risks according to their individual circumstances. “It means offering members real interventions, not generic responses to their healthcare needs.”
Edwards also announced options for Liberty Medical Scheme to merge with Spectramed, which would increase the scheme’s size to over 200 000 beneficiaries. It would also allow the scheme to offer four options, with 15 choices, giving members across a wide range of income groups even more choice when choosing appropriate cover.
The member voting process for the merger is currently underway and will be finalised on 18 October.
“At Liberty Medical Scheme, our members have the confidence that we offer a superior customer experience, excellent benefits and support,” says Edwards. “Exciting times lie ahead and we look forward to partnering with our members to deliver sustainable, quality care throughout 2014 and into the future.”
