Health insurance has become the fastest-growing segment of SA’s private healthcare market, driven by consumers seeking more affordable options than traditional medical schemes, reported Times Live (16 August 2026).
Momentum Health estimates the sector is expanding by 14%–16% annually, with more than 1.2m principal members covering nearly 2m beneficiaries.
By contrast, medical schemes cover about 8m people, while open-scheme membership declined by around 3% between 2019 and 2024.
Health insurance generally offers limited benefits, including GP visits, medicines, tests and restricted hospital or emergency cover, but lower premiums are making private healthcare more accessible. W
Medical schemes are responding by advocating low-cost options and adopting wellness incentives, digital services and rewards. Telehealth is also expanding rapidly, with Momentum’s Hello Doctor consultations increasing by about 600%, highlighting technology’s growing role in healthcare access.