Medical scheme says its position is so precarious it could be insolvent by year-end
The medical schemes regulator is set to challenge Health Squared medical scheme’s high court application to wind up its business by August 31.
Health Squared stunned members with the news on Friday that it had applied to the Johannesburg High Court to close its doors, saying it was in such a precarious financial position that it could be insolvent by the end of the year. Quickly winding up the business while it still had reserves meant members were guaranteed their claims would be paid, it said in court papers...
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