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.