National Health Insurance (NHI) already having a negative impact on the economy
13 August 2019
The FF Plus's foreboding that the National Health Insurance (NHI) will have an extremely negative impact on South Africa's economy already seems to be coming true.
One clear indication of this is that when the NHI Bill was tabled in Parliament last week Thursday, the Discovery Group's shares fell with 8,5% to R115,47 right after the Minister's announcement. Yesterday, the group's shares fell with another 8,4% and closed at R105,72, the lowest since 2014.
Thus, the NHI Bill is already having a detrimental effect on South Africa's economy and the FF Plus is worried that the economy will suffer great damage due to this new notion of nationalising the country's health care services.
With the unemployment rate currently at 29%, the concern is that the NHI will seriously restrict the functioning and survival of the 80 registered medical aid companies in the country and that will cause the unemployment rate to rise even higher seeing as these medical aid companies will have to retrench personnel.