Self Managed Fund
Plan Overview
About Self Managed Fund
This product is designed for corporates that ordinarily have the resources as well as a large membership base to carry all the risks of medical aid services for its employees. The groups are able to define their own benefits but with guidance from BonVie.
Due to the nature and volatility of claims, BonVie engages reinsurance for the entire group risk such that the fund will not be depleted by one or two claims, that is, accidents and surgeries.
Reinsurance is provided for both the portion risk such that the funds are protected from depletion by a large number of claims (epidemic)and high unexpected volatile claims (accidents and surgeries).
Members receive monthly reports on the performance of their scheme and key indicators related to workforce overall well-being, claims experience and other key ratios.
How It Works
- The member firm provides the medical fund.
- BonVie provides membership administration.
- BonVie adjudicates claims on behalf of the member firm.
There is a negotiable option for BonVie to share the risk, and this can be discussed according to the account’s specific risk profile.
