By Chisomo Phiri
BLANTYRE-(MaraviPost)-One of the country’s largest health insurance services providers Medical Aid Society of Malawi (MASM) has announced the adjustment of its monthly membership contribution fee by 12 percent effective July 1, 2022.
In a statement, the society’s Chief Executive Officer Sydney Chikoti says the fee adjustment is due to the economic challenges that have choked the country resulting in high cost of living.
He says following the adjustment, the Executive members will now have to contribute MK20,000 a month from the previous MK18,000 while Executive Department members will be required to contribute MK19,000 from the previous MK17,000.
Chikoti adds that VIP members will have to pay MK40,000 from MK36,000 and VIO members have their contribution fee raised from MK50,000 to MK56,000.
While those on Econo-plan, Chikoti says the society has raised their contribution fee from the previous K5,000 to K6,000 whereas those on EXO scheme will have to pay MK40,000 from MK35,000.
Hoever, Chikoti has emphasized that the society’s board is mindful of pressure the changes will bring to membership and its resistant expectations whereby assuring that it will continue and reviewing its operations so as to ensure continued sustainability while ensuring its members of access to medical care they are accustomed to.
MASM is the first and largest Medical Aid (Health Insurance) services provider in Malawi.
It started its operations in the country in the 1960s and was operating as CIMAS, a health insurance organisation from Zimbabwe that came into the country to provide health insurance services to the expatriate population working in various establishments in the country.