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Namfisa urges medical aid funds to cover COVID-19 cases

Namfisa urges medical aid funds to cover COVID-19 cases

The Namibia Financial Institutions Supervisory Authority (Namfisa) has instructed medical aid funds who introduced measures restricting medical aid fund benefits to COVID-19 cases to stop these practices immediately.

Namfisa said that they observed the trend following the declaration of the state of emergency on COVID-19 by the President, Dr Hage Geingob.

The regulator urged every medical aid fund to carry on its business in accordance with sound business principles by maintaining a balance between maintaining financial soundness and not create additional burdens to members of the funds, especially in light of the worldwide pandemic.

“Namfisa, as part of its vision aims to ensure a safe, stable and fair financial system which contributes to the economic development of Namibia and in which consumers are protected,” Namfisa said in a statement issued on Friday, 27 March, hours before the commencement of Namibia’s 21-day Covid-19 lockdown.


 

About The Author

Donald Matthys

Donald Matthys has been part of the media fraternity since 2015. He has been working at the Namibia Economist for the past three years mainly covering business, tourism and agriculture. Donald occasionally refers to himself as a theatre maker and has staged two theatre plays so far. Follow him on twitter at @zuleitmatthys


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