Tag: IPEC

Why Medical aid societies in Zimbabwe should be regulated by a Health-Focused Authority or body — Not IPEC

Michael Gwarisa

By Enock Musungwini, MPH; MBA There are varying definitions and descriptions of what a medical aid is. Medical aid societies, also known as private health insurance companies, are non-profit or for-profit entities that provide health coverage by pooling member contributions to finance medical services. According to Shylet Sanyanga, the AHFoZ CEO, a medical aid is a form of insurance where members pay a monthly fee (called a contribution or premium) in return of financial cover for medical treatment or related medical expenses when the need arises. Medical aid members contribute…

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Regulatory Rift: Medical Aid Sector Say No to IPEC, While Doctors and Private Hospitals Say It’s Time

Michael Gwarisa

By Michael Gwarisa The medical aid industry and healthcare service providers appear to be at odds regarding the proposed Insurance and Pensions Commission (IPEC) Amendment Bill, H.B. 7, 2024. If passed into law, the IPEC Bill will see the Ministry of Health and Child Care (MoHCC) surrender regulation of the medical aid sector to the Insurance and Pensions Commission (IPEC), which falls under the Ministry of Finance and Economic Development. The Insurance and Pensions Commission Amendment Bill, H.B. 7, 2024, introduces significant reforms aimed at strengthening regulation, transparency, and policyholder…

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Proposed IPEC Bill Could Collapse Zimbabwe ‘s Medical Aid Societies Sector- AHFoZ Warns

Michael Gwarisa

By Michael Gwarisa The Association of Healthcare Funders of Zimbabwe (AHFoZ) has raised alarm over the proposed Insurance and Pensions Commission (IPEC) Amendment Bill of 2024, warning that the new regulations could destabilize the country’s medical aid system and lead to its eventual collapse. The Bill, which seeks to classify Medical Aid Societies under financial services for regulation by IPEC, has sparked widespread concern among healthcare stakeholders who argue that the move could have far-reaching consequences for both the medical aid sector and the broader healthcare ecosystem. The proposed legislation,…

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#OPNION: Government Moves To Regulate Medical Aid Societies: This Doesn’t Sound Like A Very Brilliant Idea

Michael Gwarisa

GOVERNMENT recently announced that cabinet had deliberated and considered the submissions made on the Regulation of Medical Aid Space Societies as proposed in the Insurance and Pensions Commission Bill, which were presented by Vice President as Minister of Health and Child Care, Dr Constantino Chiwenga. By Michael Gwarisa According to information minister, Senator Monica Mutsvangwa, they had realised that since medical aid societies were not for profit enterprises and represent members’ efforts to pool funds to assist in covering health bills and expenses, it was best international practice for such…

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Its Legal For Banks,Retailers To Sale Health Insurance- IPEC

Healthtimes

THE Insurance and Pension Commission of Zimbabwe (IPEC) says there is no law that barres retailers, banks or mobile phone operating companies from selling health insurance products since most of these players are operating as corporate agents on behalf of registered insurance companies. By Michael Gwarisa This is however despite the growing calls by players in the insurance sector for government and insurance regulator IPEC, to level the playing field as insurers feel the presence of banks, retailers or mobile players is threatening profitability and sustainability of traditional insurance companies. In…

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