The celeb and the crypto scheme

𝗧𝗵𝗶𝘀 𝘀𝘁𝗼𝗿𝘆 𝗼𝗿𝗶𝗴𝗶𝗻𝗮𝗹𝗹𝘆 𝗮𝗶𝗿𝗲𝗱 𝗼𝗻 𝟮𝟱 𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 𝟮𝟬𝟮𝟮. Is it a case of money before members? Health Squared sold itself as a ‘dynamic, new-age medical scheme that is continuously challenging the status quo by delivering more of the healthcare benefits you need’. But for three years, it operated well under the mandatory solvency threshold of 25 percent without a word of caution to its members. Even as the financial situation deteriorated post-pandemic, with a rapidly dwindling membership and an above-average claims ratio from pensioners, members were oblivious that the writing was on the wall. When the axe finally fell, and the scheme applied for voluntary liquidation, members on chronic treatment for life-threatening diseases had mere days to scramble for alternative cover. The bombshell came in defiance of a bid by the Council for Medical Schemes to appoint a curator to protect members. In a lifeline to some, the court ruled that 54 members on dialysis would have their treatment and medication covered until the end of September, or until they joined another scheme. Carte Blanche investigates what this means for patients experiencing grave, life-altering risks. Your favourite episodes are now available on Carte Blanche: The Podcast: https://bit.ly/PodcastCB

The industry regulations, rules and medical aid products are extremely intricate and near impossible for some scheme members to navigate to access their legislated benefits and rights as set out in the Medical Schemes Act (MSA).

Millions of citizens are struggling to make ends meet, making the prospect of quick profits via an investment scheme more attractive. However, it’s vital to always approach any investment opportunity with a clear and critical mind before signing on the dotted line. 

South Africans are struggling financially and are often desperate. Everyone wants to believe there’s a way to get rich quickly, or perhaps just get out of financial trouble and back on their feet.