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As the 2023 Lakeshore Business Leaders’ Summit is fast approaching, scheduled for 27 – 29 April alongside the 129th Annual General Meeting (AGM) at Sunbird Nkopola in Mangochi, Medical Aid Society of Malawi (MASM) has stepped forward to partner to MCCCI by sponsoring 200 umbrellas which will form part of delegates souvenirs.

 

Inflation

Inflation is a measure of the rate of rising prices of goods and services in an economy. Inflation can occur when prices rise due to increases in production costs, such as raw materials and wages. A surge in demand for products and services can cause inflation as consumers are willing to pay more for the product.

In Malawi the National Statistics Office comes up with average monthly and yearly inflation figures. The inflation figure is an average of both food and non-food items. The annual inflation rate in Malawi accelerated to 26.7% in October 2022, from 25.9% in the previous month. It was the highest inflation rate since June of 2013.

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Medicines we take exist in two forms, they may either be  Branded or Generic. We may have wondered why we keep coming across different colors and shapes of tablets and capsules, yet we are told it’s the same drug.  This should not confuse us because whilst the pills we receive at the pharmacy counter may look slightly different they have the same effect. They have the same active ingredients, although some are termed generic while others are branded drugs. We need to emphasize that both branded and generic medicines have the same quality, strength, safety, dosage and route of administration (termed pharmaceutical equivalence).

 

MyBucks Banking Corporation Malawi has partnered Medical  Aid Society of Malawi (Masm) to simplify payment of subscriptions fees.

This means that Masm members can pay subscription fees in all MyBucks Malawi branches nationwide and also through its digital platform *632# flex mobile.

The Medical Aid Society of Malawi (MASM) has revised member contribution rates and benefit packages effective July 1, 2021 following a careful evaluation of the post Covid-19 pandemic implications and effects.

MASM CEO Sydney Chikoti in announcing the adjustments explained that it was in accordance with the Board of Trustees December 5, 2020 AGM resolution in Mzuzu not to increase the rates at the peak period of Covid-19 whose negative economic effects on members were severe towards the end of 2020 and first quarter of 2021.

The Medical Aid Society of Malawi (MASM), would like to inform its esteemed members that they can access COVID 19 services at approved and certified private facilities offering such services, with immediate effect on the following terms:

  1. Members who have been tested, found positive and admitted for Covid 19 shall be covered for treatment subject to the following limits;1. Members who have been tested, found positive and admitted for Covid 19 shall be covered for treatment subject to the following limits;
    • VIP Scheme Category -  K 3 Million
    • Executive Scheme Category - K 1.5 Million
    • Econoplan Scheme Category - Eligible for treatment at Government and Mission hospitals
  2. Members who test positive and require treatment without admission will be covered for testing and payable prescribed medication. Where Ivermectin has been prescribed, MASM will reimburse to a maximum of MK6,000.00
  3. MASM will not pay for mass screening or self-referrals where negative results arise.
  4. Please note that the full list of approved and certified service providers for such care will be released once confirmed by the Medical Council of Malawi.

Note: All Scheme rules, terms and conditions still apply.

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