Medical Schemes Act, 1998 (Act No. 131 of 1998)Chapter 6 : Benefit Options33. Approval and withdrawal of benefit options |
| (1) | A medical scheme shall apply to the Registrar for the approval of any benefit option if such a medical scheme provides members with more than one benefit option. |
| (2) | The Registrar shall not approve any benefit option under this section unless the Council is satisfied that such benefit option— |
| (a) | includes the prescribed benefits; |
| (b) | shall be self-supporting in terms of membership and financial performance; |
| (c) | is financially sound; and |
| (d) | will not jeopardise the financial soundness of any existing benefit option within the medical scheme. |
| (3) | The Registrar may demand from the principal officer such financial guarantees a will in the opinion of the Council ensure the financial soundness of benefit options. |
| (4) | The Registrar may, on account of an inspection or investigation in terms of this Act or on account of any report, document, statement or information furnished to him or he if he or she is of the opinion that a benefit option is or may not be financially sound withdraw the approval of such benefit option and the medical scheme shall amend its rules accordingly with effect from the date directed by notice by the Registrar. |
| (5) | The Registrar may amend the rules of a medical scheme if such medical scheme fails to amend its rules as directed by the Registrar under the provisions of subsection (4) within the period specified in the notice, and such amendment shall be deemed to be a amendment within the meaning of the provisions of section 31. |