South Africans are set to pay more for Discovery medical aid plans in 2024 after Discovery Health Medical Scheme (DHMS) announced price increases this week.
Member contributions will rise across all benefit plans, with a weighted average increase of 7.5% effective 1 January 2024. The scheme cited an increase in medical inflation and the need for long-term sustainability as the primary reasons for the hikes.
“While the long-term sustainability of DHMS is paramount, we remain extremely sensitive to the economic environment and affordability pressures that Scheme members are currently facing,” Discovery Health CEO Dr Ryan Noach said.
“We are keenly aware of the far-reaching impacts of increasing inflation, high interest rates and low GDP growth on households and businesses in our country. With this in mind, we strive to maximise value for members of the Scheme whilst maintaining the long-term sustainability of the medical scheme.”
While the average increase is 7.5%, increases range from 3% to 12.9% depending on your plan. “39% of members will experience an increase of less than 4% in their gross contributions, and a further 34% of members will experience an increase between 5% and 10%. Effectively, 73% of members experience an increase of less than 10%,” DHMS explained.
DHMS has redesigned the Classic Smart Comprehensive plan for 2024. It will also consolidate the Classic Delta Comprehensive, Essential Comprehensive and Essential Delta Comprehensive benefit options into the Classic Comprehensive and Classic Smart Comprehensive benefit options in 2024.
Discovery medical aid plans 2024 prices
The Discovery medical aid plans 2024 prices will increase by the following percentages:
- Executive: 12.9%
- Comprehensive (excluding Classic Smart Comprehensive): 11.9%
- Priority: 9.9%
- Classic Saver (Delta and non Delta): 3%*
- Essential Saver (Delta and non Delta): 3.8%*
- Coastal Saver: 6.3%*
- Core: 9.9%
- Coastal Core: 12.9%
- Smart: 8.9%
- KeyCare Plus: 10.9%
- KeyCare (excluding KeyCare Plus): 9.9%
*The increases for the Saver options above are net of the changes in the Medical Savings Account (MSA) allocations for 2024, which are as follows:
- Classic Saver and Classic Delta Saver: 20% allocation to MSA.
- Coastal Saver: 15% allocation to MSA.
- Essential Saver and Essential Delta Saver: 10% allocation to MSA.
The table below summarises the Discovery medical aid prices for 2024 for each plan:
|Medical aid plan||2023 price||2024 price||Increase|
|Executive Plan||R9 122||R10 303||+12.9%|
|Classic Comprehensive||R7 484||R8 381||+11.9%|
|Classic Smart Comprehensive||R5 441||R7 163||+31.6%|
|Classic Priority||R4 795||R5 272||+9.9%|
|Essential Priority||R4 121||R4 531||+9.9%|
|Classic Saver*||R4 060||R4 182||+3.0%|
|Classic Delta Saver*||R3 244||R3 342||+3.0%|
|Essential Saver*||R3 227||R3 351||+3.8%|
|Essential Delta Saver*||R2 574||R2 673||+3.8%|
|Coastal Saver*||R3 220||R3 423||+6.3%|
|Classic Core||R3 022||R3 322||+9.9%|
|Classic Delta Core||R2 419||R2 659||+9.9%|
|Essential Core||R2 597||R2 855||+9.9%|
|Essential Delta Core||R2 075||R2 281||+9.9%|
|Coastal Core||R2 403||R2 714||+12.9%|
|Classic Smart||R2 412||R2 627||+8.9%|
|Essential Smart||R1 727||R1 881||+8.9%|
|KeyCare Plus||R1 489 – R3 023||R1 652 – R3 354||+10.9%|
|KeyCare Core||R1 170 – R2 232||R1 286 – R2 454||+9.9%|
|KeyCare Start||R1 127 – R2 954||R1 239 – R3 247||+9.9%|
|KeyCare Start Regional||R1 003 – R2 363||R1 102 – R2 597||+9.9%|