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Bankmed
is one of the oldest medical schemes in South Africa. Membership
is available to the staff of Banking and Financial Institutions
that have contracts with the Scheme.
Bankmed provides healthcare funding to more than 23 Banks
operating in South Africa, including the three largest banking
groups.
Having its roots in a meeting in a tea shop in Cape Town in
1914, this led to the inaugural meeting on 1 August 1914 with 77
members drawn from local banks. The latest financial statements
show that Bankmed has grown to just over 80 000 members and has
proved to be a robust, efficient and financially sound medical
aid scheme and has been rated AA- by Global Credit Rating
(previously Duff and Phelps). This is the highest possible
rating a South African Scheme can be awarded.
Bankmed has for many years, operated under a governance
structure, where half of the trustees are elected by the
members.
Bankmed's philosophy is to enter into partnership with all its
stakeholders. This approach is supported by regular research,
both formal and informal, amongst suppliers of service, members
and employers..
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