Masm ‘no shortfall’ to reduce annual increments
Medical Aid Society of Malawi (Masm) has said its new approach to have no shortfalls on all schemes will to some extent minimise its annual increments.
Masm chief executive officer Sydney Chikoti said this in Blantyre on Tuesday at a news conference to clarify and officially announce the removal of shortfalls on its schemes which came into effect last month.
Chikoti said scrapping off shortfalls was done after a customer satisfaction survey last year which found that 96 percent of its customers have issues with shortfalls.
“Over the years, we have had a challenge where we usually go and ask our members to pay an added contribution rate of an average of 30 percent or there about. Should everything go according to our projections, the magnitude of the annual increments will be less this year and going forward,” he said.
Other than removing shortfalls, Masm has also introduced organ transplant on the Executive and VIP schemes, re-introduced foreign treatment on the Executive scheme, adjusted upwards limits for funeral benefits and eye glasses and introduced membership relationship management team.
