Pending liquidation of COMMED

The Council for Medical Schemes has issued a Press Release today

The decision to liquidate COMMED was taken, with the concurrence of the Council, after taking into consideration reports issued to the Registrar by the provisional Curator and the scheme’s actuary. The CMS is satisfied that this decision is in the best interests of beneficiaries.

In a move aimed at protecting the interest of members of COMMED going forward, the acting Registrar for the CMS has engaged several schemes with the view of moving current members of COMMED to another scheme. Following this initiative, COMMED and the Bonitas Medical Scheme (Bonitas) have reached an agreement to move current members of COMMED to Bonitas. As part of the agreement between the two schemes, the members who are moved from COMMED will not be subjected to any general or condition-specific waiting periods, as a result of the move. The move of members should not be construed as an amalgamation and Bonitas will not be taking over the assets and liabilities of COMMED.

The liquidation process will commence once the movement of the current COMMED members to Bonitas, has been concluded.

(Press Release 13 of 2017: Announcement about pending liquidation of Commed. Issued by Council for Medical Schemes, 4th Aug, 2017)

For a look at their Press Release, click here: Press release Commed liquidation

 

Pending liquidation of COMMED was last modified: August 4th, 2017 by Kenny Williamson

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