Despite paying around R90m to Agility for marketing services, HealthSquared Medical Scheme lost about 30% of its members – and failed to impose penalties on Agility. Moneyweb BusinessNews
The board of trustees and consultants of financially distressed Health Squared Medical Scheme allegedly strategised to outmanoeuvre the Registrar of Medical Schemes’ plan to have it placed under curatorship – by bringing an urgent application for voluntary liquidation. Information provided by the Council for Medical Schemes also reveals further Health Squared governance issues.
The CMS said although the law requires agreement between the scheme and the registrar for the appointment of a statutory manager, the responsibility to appoint rests with the registrar. Using the list provided by Health Squared would have raised questions about the independence and objectivity of the appointed statutory manager.
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