Focus on summary of complementary product changes

Below is information about focus on summary of complementary product changes

Changes to Momentum’s complementary products for 2024

Momentum Metropolitan Holdings Limited (referred to as Momentum) offers a range of additional products designed to enhance your medical aid benefits. It is important to note that Momentum is not a medical scheme and operates independently from the Momentum Medical Scheme. The complementary products provided by Momentum do not constitute medical scheme benefits. Therefore, it is entirely possible to be a member of the Momentum Medical Scheme without having to enroll in any of the complementary products offered.

Introduction of the Momentum HealthSaver Card

As of January 1, 2024, significant changes will be implemented regarding how Momentum clients utilize their HealthSaver funds. Previously, clients could access their HealthSaver funds through the Momentum Money App or the physical Momentum Money Card when shopping at various retailers. Moving forward, clients will be required to use the new HealthSaver Card specifically when making purchases at approved healthcare merchants. However, they will still retain the ability to utilize their Momentum Money account for transactions via the Momentum Money App or the physical card.

The Momentum Money account functions similarly to a traditional savings account, allowing users to manage their funds with a card that operates like any other bank card. In contrast, the HealthSaver Card is designated for transactions with approved healthcare providers, ensuring that clients can easily access and use their funds where they are needed most.

Momentum Multiply

Momentum Multiply will maintain its commitment to empowering clients by providing tools and resources that help them understand their health, identify areas for improvement, and reward them for taking proactive steps towards better mental and physical well-being.

Multiply Inspire and Inspire Plus

Members of the Momentum Medical Scheme enrolled in the Evolve, Custom, Incentive, Extender, and Summit Options will continue to enjoy complimentary access to Multiply Inspire. To embark on this journey, simply download the Multiply App, complete the Lifestyle Quiz, and receive your personalized Lifestyle Score. This score unlocks the Digital Coach Tool, which offers tailored daily tips on enhancing various aspects of your life, including nutrition, sleep, physical activity, mindfulness, and social connections. Additionally, members will begin earning base level HealthReturns and partner rewards. Specifically, they will receive:

• standard HealthReturns, which serve as a reward for maintaining a healthy lifestyle, and

• the base level of partner rewards, which provide discounts and cashbacks from various partnered brands. For those who opt to upgrade to Multiply Inspire Plus, the rewards become even more substantial:

• double the HealthReturns, significantly increasing potential earnings, and

• enhanced levels of partner rewards, giving access to even greater discounts.

With Multiply Inspire Plus, the rewards extend to the entire family. For example, a family consisting of two adults can earn up to R3,000 per month in HealthReturns, capped at 40% of their medical scheme contribution, provided they maintain their health and wellness. Moreover, members can benefit from higher partner rewards and receive up to 60% off with major brands. This means that the healthier you are, the more you stand to earn. For additional details on Multiply Inspire, please click here.

Multiply Engage and Engage Plus

Members enrolled in the Ingwe or Fusion Options of the Momentum Medical Scheme will receive complimentary access to Multiply Engage benefits, which allow them to earn basic partner cashbacks and discounts.

If members decide to upgrade to Multiply Engage Plus, they will enjoy:

• enhanced partner discounts, which provide even greater savings,

• increased cashbacks, allowing for more substantial returns on purchases, and

• weekly rewards that incentivize ongoing participation in health and wellness activities.

With Multiply Engage Plus, members can also enjoy discounts of up to 60% from top brands by taking greater steps to prioritize their health and wellness. To kickstart this journey, download the Momentum Multiply App and register a profile. For further information on Multiply Engage, please click here.

HealthReturns for Multiply Inspire Plus members

Multiply Inspire Plus members have the opportunity to earn up to R1,500 in HealthReturns per adult each month. The journey towards earning HealthReturns begins with completing the Lifestyle Quiz. Members can further increase their HealthReturns by engaging in several activities, including:

• undergoing a health assessment or participating in digital screenings, provided they meet eligibility criteria;

• taking part in a fitness assessment or completing digital screenings if eligible;

• achieving Weekly and Monthly Wins by meeting Active Dayz goals, which are measured through either walking 10,000 steps a day or burning 300 calories during workouts;

• meeting weekly and monthly Recharge Goals, which assess sleep quality and readiness for the day ahead, and can be tracked through the Multiply app; and

• participating in leaderboard challenges and attaining a competitive ranking.

Multiply Premier changes

Members of the Momentum Medical Scheme will receive communication before the end of 2023 regarding an automatic transition to Multiply Inspire Plus (or Multiply Engage Plus for those on the Ingwe Option) starting in January 2024. While members will have the option to opt out and remain on Multiply Premier, it is essential to understand that HealthReturns will only be accessible through Multiply Inspire and Inspire Plus moving forward.

Momentum GapCover (Underwritten by Guardrisk Insurance Company Limited, an authorized Financial Service Provider and licensed non-life insurer, FSP No. 75)

For 2024, several enhancements and new benefits will be introduced to the Momentum GapCover:

• The shortfall benefit will increase from R185,000 to R190,000 per insured person annually, providing more extensive coverage.

• The casualty benefit will see an increase from R22,000 to R23,000 per policy each calendar year. Additionally, the coverage for emergency-only casualty ward visits will rise from R3,500 to R4,000, and the age limit for emergency-only visits for child dependants will expand from six to seven years.

• The internal prosthesis shortfall benefit will increase from R30,000 to R35,000 per policy annually. Stents and pacemakers will now be covered up to a new sub-limit of R8,000 per claim event, aggregating to the total R35,000 benefit per policy per year.

• The baby bump benefit will increase from R2,000 to R2,500, providing additional support for expectant parents.

• The Cancer Assist Benefit will see an increase from R5,000 to R8,000 for first-time diagnoses of minimum stage 2, local, and malignant cancer.

For further information regarding Momentum’s complementary products, please click here.