FULL TEXT: Cimas Medical Aid Introduces USD Packages Effective January 1, 2019

Cimas Medical Aid Society will, with effect from 1 January 2019, introduce USD denominated packages. Cimas will, however, continue to offer all the traditional packages that are denominated in both RTGS FCAs and Nostro FCAs. Below is the full statement released by Cimas:

24 December 2018

Contributions Review

The Society wishes to advise its valued customers that there are escalations on RTGS claims while USD claims costs remain static.  This development has led to members incurring huge co-payments in RTGS terms while there are no or little co-payments in USD claims. The Society has engaged some service providers who advised that the distortions are a result of the need to raise foreign currency (which is not readily available) to procure medicines and medical consumables.

In an effort to ensure equity and in response to the recently announced monetary policy, we are introducing foreign currency denominated products to complement the existing RTGS products effective the 1^st of January 2019.

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The USD denominated packages will bridge the current gap and avail options to accommodate our diverse membership. The initiative is also based on the need to capacitate our healthcare service providers thereby enabling them to import the healthcare delivery inputs. Claims for members who will be registered onto these products will be reimbursed through the Nostro FCA accounts. Members who are currently registered on traditional packages are allowed to migrate to the foreign currency products without waiting periods.

Please note that the Society will continue to offer all the traditional packages that are denominated in both RTGS FCAs and Nostro FCAs.

Find attached the four package options for your consideration. For further information, please contact Sales & Marketing and Customer Services teams to discuss the detailed benefits at your convenience.

Washington Madziwadondo

Managing Director – Medical Aid