Capital-controlled digital bank TymeBank is expanding into the medical insurance space, with a plan to offer South Africans access to private healthcare services starting at R139/month.
“Statistics show that just 8.9 million South Africans are covered by a medical scheme, with the high costs of contributions making membership of a medical aid unaffordable for most of the population,” the bank said in a statement on Thursday. The TymeHealth offering comprises three plans, each designed to cater for different life stages or needs, it said. “The plans provide for the needs of underinsured South Africans or those looking for a supplementary day-to-day product to complement their existing hospital plan.”