Jul 21, 2017 Last Updated 10:01 AM, Jul 20, 2017

MASM Hikes Scheme Prices

MASM Hikes Scheme Prices Image sourced at masmw.com
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The Medical Aid Society of Malawi (MASM) has increased its medical scheme prices by 25 percent, effective the first of September this year.

Among other schemes, VIP Scheme members will be paying MK21, 000 from MK16, 800 while dependants will be paying MK18, 000 from MK14, 400.

Executive Scheme membership fee has risen from K9, 000 to MK11, 250 while dependants will move from K 8,400 to K10, 500.

Econo-plan scheme currently at MK 3,000 will be at MK 3,750.

In a statement, MASM Chief Executive Officer Sydney Chikoti attributes the increase to the pressure on its resources and sustainability brought about by the revision of the benefit package at the beginning of this year.

Chikoti mentions that the decision to implement a no short fall package has prompted some members to move from their traditional service providers like CHAM facilities or nominated General Practitioners where MASM has favourable negotiated tariffs to more expensive private hospitals and facilities.

He admits the development has led to losses in the first half of the year as claims far exceeded the contributions collected consistently every month.

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