Dear Service Provider
The Gauteng High Court, has on 16 September 2020, placed KeyHealth Medical Scheme under provisional curatorship following a successful application by the Registrar of the Council for Medical Schemes (CMS), in terms of Section 56(1) of the Medical Schemes Act, No. 131 of 1998 and Section 5(1) and (2) of the Financial Institutions (Protection of Funds) Act 28 of 2001 (the FI Act).
The curatorship relates to certain corporate governance irregularities. However, the Scheme is financially stable with its solvency ratio more than 40%, which is well above the 25% level required by the CMS.
Mr Joe Seoloane has been appointed the provisional curator and is authorized to take immediate control of the Scheme in the place of the Board. The curator will further manage the business and operations of the Scheme together with the assets and interests relating to the business of KeyHealth Medical Scheme.
The curator took control of the business of the Scheme to ensure proper corporate governance and there is therefore no need for any concern on the part of KeyHealth Medical Scheme members and service providers regarding the day-to day operations of the Scheme.
It is important to note that accumulated reserves of KeyHealth are more than R1 billion and the Scheme can continue paying claims for services rendered to members and meeting its obligations. The day-to-day operations of the Scheme remains unaffected by this change in governance structure.
The liquidity of KeyHealth remains amongst the best in the industry.
The Scheme wishes to thank each service provider for their continued loyal support during these trying times.
Should you require any further information, please contact the Client Service Centre on 0860 671 050 or send an e-mail to email@example.com. The Client Service Centre is operational Monday to Friday between 07:30 and 18:00, excluding public holidays. Alternatively, chat to us online and real-time by clicking here or on the Chat link on the Home page of the KeyHealth website.
Curator at KeyHealth