Zimbabwe medical aid societies in crisis

Zimbabwe's medical aid societies are slithering into bankruptcy due to escalating medical aid claims with a recent hike in tariffs ordered by government likely to worsen their already precarious position.

The situation could affect at least 1,6 Zimbabweans who still depend on medical aid, a form of insurance that protects individuals financially should they be in need of medical or health care.

Information gathered indicates that most medical aid societies have started tapping into their reserves and many are already facing solvency challenges due to a grave mismatch between income and claims.

Figures indicate that claim payments from medical aid societies have been rocketing for the past three years against dwindling financial inflows from an economically struggling membership.

Last year medical societies paid service providers $342 million, a 50% jump on the $174 million the sector paid in 2012.