Discovery Health CEO challenges NHI, begs closed door ANC to open its eyes and ears

Ryan Noach is the CEO of Discovery Health, a company which covers 40% of those South Africans who have private medical insurance. Not surprisingly, he has been analyzing and attempting to bring rationality to the National Health Insurance (NHI) Bill since it was first announced in 2007. In an interview today Noach expressed concerns about the NHI Bill that was voted through Parliament this month, particularly Section 33, which proposes the elimination of companies like his once the NHI is fully implemented. For the rational mind, alongside the guarantee that NHI will bankrupt already fragile South Africa, the most worrying part of this discussion is the ANC’s roadblock approach to all counter proposals - particularly scary considering the destructive record of every SA State-run enterprise. On the upside, Noach says even in the State’s best case scenario (ie no Stalingrad legal challenge from the private sector) it will be decades before the proposed NHI would be fully implemented. By which time, Parliament - and voters who put members there - will surely have come to their senses. Noach spoke to Alec Hogg of BizNews. Video production by Patrick Kidd Your early morning brew of the BizNews Insider keeps you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here - https://bit.ly/3lfVRYP. --- Timestamps: 00:00 - Introductions 00:25 - On how long Discovery Health have been keeping tabs on NHI bill 01:04 - On Discovery Health's plans to oppose NHI bill 02:05 - On Discovery Health's credentials and client base 03:20 - Breaking down proposed National Health Insurance Bill 06:37 - Noach provides a helpful analogy 07:56 - On other examples of national health cover internationally, and their success or lack thereof 09:56 - Noach responds to Connie Mulder's comments on the lack of public outcry from private health insurers 13:04 - On the lack of open-mindedness to suggestion from ANC policymakers 13:56 - How the NHI bill would impact taxation in South Africa 17:51 - What next for the NHI Bill and South Africa 20:58 - What next for Discovery Health 21:38 - Concludes