NAMFISA Reports N$1.24 Billion in Medical Aid Claims for Q1 2024

NAMFISA reveals that medical aid funds disbursed N$1.24 billion in claims during the first quarter of 2024, reflecting a 12% increase from the previous quarter but a 2.5% decrease year-on-year. Non-healthcare expenses decreased by 2.8% from the previous quarter but rose 3.7% annually, with administration costs remaining the highest contributor. The industry’s total assets grew by 4.1% quarter-on-quarter and 8.6% year-on-year to N$2.2 billion, while liabilities fell by 4.1% from the previous quarter but increased by 3.6% year-on-year.