KeyHealth Member Information
Member Services
Provider Networks
Member Benefits
Member Newsletters
Electronic Communication
KeyHealth Medical Scheme has reported another year of robust financial results, driven by sound financial management, improved investment returns, and a continued focus on member-centric innovation.
For the financial year ending 31 December 2024, KeyHealth demonstrated resilience and growth amid a challenging healthcare environment marked by rising costs and ongoing uncertainty surrounding National Health Insurance (NHI). The Scheme maintained a stable membership base of over 72 000 beneficiaries, reinforcing its reputation as one of South Africa’s most trusted open medical schemes.
Total insurance revenue for 2024 reached R2.6 billion, a 6.4% increase year over year. Net claims paid amounted to R2.3 billion, up 4.8% from 2023. Hospital claims remained the largest cost driver, accounting for 44.3% of total claims.
The Scheme’s investment portfolio delivered a return of 10.7% (2023: 8.6%), reflecting strong market performance and effective portfolio management.
KeyHealth achieved a solvency ratio of 50.1%, including all its investment gains – two times the statutory requirement – underscoring its long-term financial sustainability.
These results are a testament to KeyHealth’s commitment to delivering real value, simplifying healthcare choices, and enhancing operational efficiency.
T. Patrick Masobe, Chief Executive Officer of KeyHealth, emphasised the Scheme’s focus on long-term sustainability and affordability:
Our continued financial strength enables us to enhance member benefits while keeping contributions competitive. At KeyHealth, we are committed not only to financial performance but also to investing in meaningful healthcare solutions that improve our members’ quality of life.
In 2024, KeyHealth introduced several benefit enhancements based on member feedback and evolving healthcare trends. These included expanded maternity and preventative care benefits, the launch of a digital mass screening tool via the KeyHealth app, and increased benefit allocations for in-room procedures under selected options.
Strategic managed care initiatives and risk management interventions helped the Scheme control claims expenditure while maintaining access to quality healthcare providers. These included improved care coordination during and after hospital stays and the expansion of a designated service provider network to ensure cost-effective access to hospitals and specialists.
Despite economic pressures, KeyHealth remains committed to offering transparent, value-based healthcare solutions without unnecessary complexity. Its benefit design continues to prioritise simplicity and real value.
Looking ahead, the Scheme plans further investments in digital tools, primary care access, and preventative care programmes – empowering members to take greater control of their health while ensuring long-term cost sustainability.
“We are confident in our strategy and proud that our financial strength translates into tangible value for our members,” says Masobe. “KeyHealth will continue to be a dependable partner, delivering real value that speaks for itself.”