Another SA medical scheme is facing solvency issues
Transmed Medical Scheme has failed to maintain its solvency ratio at or above 25%, the minimum statutory prescribed level in the Medical Schemes Act. One of only two of the 75 registered medical schemes in SA whose solvency ratio was below the statutory prescribed level, Transmed had an average of 27 967 beneficiaries in 2021. These include current and retired staff of SOEs Transnet, SAA and the PRASA and their subsidiaries. The scheme is now under provisional curatorship and its board of trustees has launched a high court application to liquidate.