Medical aid schemes to be regulated
MBABANE – Malpractice could soon be a thing of the past in the medical aid industry as it will now be regulated.
This has been made possible by the enactment of the Financial Services Regulatory Authority (FSRA) Act, 2010.
Sandile Dlamini, the Registrar of Insurance and Retirement Funds confirmed this and explained that this industry was classified as one of those that needed to be regulated under the Act.
He said it was part of their responsibilities to ensure that the industry was regulated in the same way as the Insurance and Retirement Funds sector. Dlamini said they were currently working on the regulation requirements which will then go to the relevant minister, cabinet then Parliament.
"It won’t be long before they are regulated, just like with the other sectors," he said.
Of late, Swaziland has witnessed an increase in the number of service providers in the medical aid industry.
An independent economist, who spoke on condition of anonymity said it was high time there was some order in the medical aid industry.
"This industry has grown over the year, with new entrants coming into the marketing. This gave space for players who want to take advantage of people. It is quite commendable that the industry will now be regulated to ensure a level playing ground of all traders and elimination of malpractice," the economist said.
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