MASM increases monthly contribution rates - Malawi 24

MASM increases monthly contribution rates –

Post was last updated: May 25, 2022

Medical Aid Society of Malawi (MASM) has increased monthly membership contribution rates by an average of 12 percent.

Chief executive officer of MASM, Sydney B Chikoti, said yesterday that the hike is effective 1st July, 2022.

According to Chikoti, the executive membership rate has been revised from K18,000 to K20,000 for members and K17,000 to K19,000 per month for dependent.

“MASM is aware of the financial and economic challenges Malawians are facing on a daily basis but having assessed their performance in the intervening period and following the analysis of the economic trends the increase was necessary to ensure the sustainability of the Society,” said Chikoti in the statement.

He added that the board is mindful of the pressure that this will bring to its members and the resultant expectations of the service providers.

“The board will be watching and reviewing the sustainability of the Medical Aid Society of Malawi while ensuring that its members are getting access to proper medical care,” said Chikoti

Meanwhile, the news about the rise in rates has not appeased MASM members and many have complained about the increase in the membership fee.

Members say they see this as a hit as they are already going through financial challenges because of the economy in Malawi.

Currently, the cost of living in Malawi has gotten expensive as prices of basic needs such as sugar and cooking oil have risen.

“You are revising the rates and yet we are already paying a lot of money to meet specialists in hospitals, that is not on,” said one commentator on Facebook having received the dreadful news.

 

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