First Mutual Health targets informal sector, launches new product

FIRST Mutual Health, a subsidiary of First Mutual Holdings Limited, has launched a new medical aid scheme, MicroMed, targeting the informal sector.

First Mutual Health general manager, Mr Stanford Sisya, unveiled the new product while delivering his keynote address at the company’s 10th anniversary held at a local hotel in Bulawayo on Wednesday evening.

He said the MicroMed plan was created following a realisation that the Zimbabwean economy had become largely informal, resultantly with many people finding themselves without medical aid cover.

“I am happy to share with you our new product, the MicroMed plan. This product is at the realisation that while the economy has become largely informal, many people have found themselves without medical aid as the subsidised plans by employers have become a thing of the past,” he said.

Mr Sisya said research conducted by his company showed that close to 90 percent of the Zimbabwean population did not have medical insurance mainly because they could not afford the expensive premiums. He said the population that is not on medical insurance was exposed to death when they fell ill.

Such a trend is not in sync with the global patterns and goes against Zimbabwe’s commitment towards achieving universal health coverage as enshrined in the Sustainable Development Goals (SDGs), in particular SDG 3.

Mr Sisya said the new medical aid plan had low premiums that suit best those in the farming sector, mining, cross border trade, domestic workers and everyone in search for a “quality low cost” medical aid plan.

“To be admitted as a principal member one has to be between the ages of 18 and 60 whilst beneficiaries have an age cap of 60 years on joining. With this plan, members enjoy the exceptional service and benefits that First Mutual Health members have become accustomed to over the years.

“That is, a wide service provider network, wide card acceptance, wellness programmes, after sales support through our branches nationwide, our call centre and our mobile app,” he said.

To register, Mr Sisya said members could obtain forms from their teams and distribution partners countrywide with premiums from as low as RTGS$ 6 per month, allowing one to get admission to any general hospital or pay for drugs at a pharmacy.

He said a MicroMed medical aid holder can claim up to RTGS$ 1 500 once hospitalised and RTGS$ 2 700 annually after four months of paying the health premiums. Upon untimely death a subscriber’s beneficiary will be given RTGS$ 500 cash.

Bulawayo Mayor, Councillor Solomom Mguni, who was the guest of honor at the event said the city was supportive of First Mutual Health business growth.

“To First Mutual Health, as City of Bulawayo you have our commitment and we will continue to support you and work with you to ensure that your business remains viable and offer the much needed healthcare to our nation through the various partnerships with your service providers,” he said.

Meanwhile, First Mutual Health has increased all of its medical aid monthly contributions by 35 percent with effect from this month. The company said it was incurring high much costs since last year September as it had to pay more to service providers, who have been randomly increasing prices. — @queentauruszw