By: Peneyambeko Jonas
Private medical aid through various schemes has covered 226,777 individuals, a 2.1% year-on-year increase as at 30 June 2026, according to Namfisa.
These individuals pay monthly premiums to their respective medical aid funds to ensure that, when they get sick, or their dependent is sick or requires medical attention, the funds can step in to pay.
Health has been one of the services that has the highest annual inflation rate; in August 2026, it recorded a 5% increase.
The country’s public health sector, despite it being the biggest social expenditure of the government, still faces challenges such as few specialities, medical machines, and medications.
According to Namfisa, the growth in private sector medical aid membership was observed across all beneficiary types, indicating organic growth and aging in membership during the quarter under review.
Non-pensioner principal members grew by 831 members to 98,169 members; non-pensioner dependents increased by 798 members to 113,146 members, and pensioner beneficiaries increased by 164 beneficiaries to 15,462 beneficiaries.
As at 30 June 2026, the individuals’ medical savings have grown to N$3.3 billion through investment, an increase of 2.6% quarter-on-quarter and an increase of 23.3% year-on-year.
According to Namfisa, 58% of the country’s medical savings are invested in the domestic market.
Medical claims ratio stood at 86.8% for the quarter ended 30 June 2026, lower than the 90.7% reported for the quarter ended 31 March 2026 and higher than the claims ratio of 88.2% reported for the quarter ended 30 June 2025.
Hospitals account for 35% of claims, followed by pharmacies (15.9) and specialities with 11.3% of claims.
Namfisa explained that an ideal claims ratio is considered to be between 65% and 87%.
The industry reported fluctuating claims that exceeded the upper limit of this range over several quarters between Q2 of 2023 and Q2 of 2026.
“When the claims ratio exceeds the upper limit of 87%, a lower proportion of the contribution is available to settle non-healthcare costs, and more investment and other income would be needed to settle non-healthcare costs,” wrote Namfisa.
At high claims ratios, medical aid funds may need to liquidate investments to settle expenses, which may lower reserves if done frequently and excessively.
The top three funds by total assets were the Namibia Health Plan Medical Aid Fund with a 37.7% market share, the Namibia Medical Care Aid Fund with 31.4%, and the Renaissance Health Medical Aid Fund with 14.3% as of 30 June 2026.
Collectively, these three funds accounted for 83.4% of the industry’s total assets.
