Health Squared Medical Scheme
No longer operating · Placed in final liquidation by the High Court, 17 February 2023
Overview
Health Squared Medical Scheme was an open medical scheme formed in 2018 from the amalgamation of Spectramed Medical Fund and Resolution Health Medical Scheme. The Scheme was placed in final liquidation by the High Court in Johannesburg on 17 February 2023, after sustained Covid-19 claims pressure and member loss collapsed its solvency ratio to 2.15% by July 2022.
If you were a Health Squared member
The Council for Medical Schemes coordinated migration of Health Squared members to other open schemes following the liquidation. If you have not changed schemes since 2023, you should already be enrolled with a successor scheme. Member medical savings claims rank as concurrent (unsecured) creditors in the liquidation process — the liquidators are reportedly continuing investigations and member savings recovery is uncertain.
Liquidation status
As of October 2024, the liquidation process remained ongoing. The first meeting of creditors was held on 31 March 2023, with the second meeting of creditors awaiting forensic investigation report finalisation. Health Squared was reported to have minimal recoverable assets beyond office equipment.
Looking for medical aid cover today?
Health Squared no longer accepts members. Browse our scheme index for currently registered open and restricted schemes.