Dear valued SAMWUMED members,
In the true spirit of caring and living up to being an Essential Healthcare Service Provider in 2020 SAMWUMED spent about R82 million on helping to care for members who had contracted COVID-19. Furthermore, the Scheme also paid out R1.3 billion in member claims. This was an increase when compared to last year’s claims figure of R1.2 billion
The Scheme was able to do this whilst maintaining excellent financial health and also realising member growth. For example, the solvency ratio for 2020 was 99.28% whilst reserves increased to R1.48 billion, up from R1.44 billion in 2019.
At the same time, primary or main members grew from 33 313 to 34 403 and total lives covered increased from 73 570 to 75 504.
Best wishes,
Francina Mosoeu
Principal Officer
