The has been some speculation in the media regarding GEMS’ financial position. This is based on the report that GEMS’ reserves are below the statutory requirement. The Council of Medical Schemes sets the solvency rate at 25% of total claims. This is a high target and GEMS has, since its inception not reached the target.
NAPTOSA has scheduled a meeting with GEMS for next week and will discuss this as a matter of urgency. The meeting will enable NAPTOSA to ascertain the real situation and the risk (if any) it poses to our members. However, there does not seem to be any immediate problem with regard to the payment of claims and
continued services rendered to members by GEMS. GEMS issued a statement , inter alia stating, “The claims-paying ability and benefits offered by the Scheme is not under any threat. The Scheme’s members and healthcare service providers who care for our members can rest assured in the knowledge that their interest
will at all times be safeguarded by GEMS and its management.” Click here for GEMS’ media statement.