The National Treasury published the increase of policy benefits for health insurance policies that fall under the Long-term Insurance Act (LTIA) and Short-term Insurance Act (STIA) in terms of the Demarcation Regulations. The Regulations specify which types of insurance contracts are classified as health policies under the LTIA and as accident and health policies under the STIA, and accordingly are excluded from the scope of the Medical Schemes Act.
Regulation 7.2(2) of the Demarcation Regulations provides that all amounts referred to in sub-regulation (1) escalate annually, from 1 April, by the Consumer Price Index annual inflation rate. The current rate as of 1 April 2022 is 4.5%.
Click on the links below to read the following documents:
- Media statement Demarcation Regulations: 2022 Escalation of Policy Benefits
- Policy benefits escalation for LTIA contracts
- Policy benefits escalation for STIA contracts