Health scheme merger may disrupt market

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Spectramed and Resolution Health have joined forces – and the merger will result in the launch of a new scheme, Health Squared, which combined 80 years’ of healthcare funding experience. Both schemes’ members voted overwhelmingly in favour of the merger, which is subject to final approval by the Council for Medical Schemes and the Competition Commission.

Health Squared promises 11 benefit options and low premiums for members thanks to greater efficiencies and economies of scale.

“The amalgamation of the two medical schemes will ensure that members benefit from the highest levels of service, a sophisticated product offering and a compelling value proposition,” says Steve Thobela, chairman of the board of trustees of Spectramed.

Brokers should note that healthcare cover will be “seamlessly integrated” into a comprehensive medical scheme, gap and co-payment cover, health savings, employee wellbeing and an employee benefits solution.

“Many Resolution Health and Spectramed members have formed a strong relationship with our representatives and we wish to assure them that they can look forward to the same high level of services from the same friendly, professional team who have always served their interests,” says Michael McGuigan, chairman of the board of trustees of Resolution Health.