As the economic burden of illness, mental distress, and financial insecurity continues to rise, South African employers are re-evaluating how they support their people. According to the 2024 Old Mutual Workplace Benefits Primary Research powered by LIMRA, 84% of employees reported being satisfied with their benefits — but 1 in 5 still feel there is unmet demand, particularly for integrated support that spans health, finances, and emotional well-being.
The findings reflect a broader shift in workplace strategy: employee support is most effective when it’s integrated — combining health, financial, and emotional well-being.
It’s in response to this pressing need for more connected, people-centred support that Old Mutual Corporate and Medihelp Medical Scheme have joined forces — launching a new solution that blends medical cover and financial protection within a single, integrated benefits framework. The collaboration draws on Medihelp’s 120-year legacy of healthcare leadership and Old Mutual’s 180-year-old track record in the South African insurance market. Old Mutual is also a leading provider of traditional retirement benefits and group risk cover, aiming to address the complex, intersecting needs of today’s workforce.
Employers are recognising that people don’t live in silos
“Employers are recognising that people don’t compartmentalise their lives,” said Humphrey Mkwebu, General Manager at Old Mutual Corporate. “Health, finances, and mental well-being are deeply connected. This collaboration gives us a way to respond holistically — without adding complexity for employers.”
By combining health and financial offerings into a coordinated package, the collaborators aim to give employers a structure that not only reflects how people live and work, but also addresses the need for more affordable, inclusive benefits — particularly in sectors marked by wide income disparities and uneven access to traditional cover.
“At Medihelp, we believe healthcare should reflect the full diversity of people’s lives – whether creative, ambitious, healthy, kind, or somewhere in between,” said Varsha Vala, Principal Officer of Medihelp. “The collaboration strengthens our commitment to relevance and long-term sustainability. Working with Old Mutual allows us to expand our reach, ensuring more South Africans have access to healthcare that is dynamic, dependable, and tailored to real life.”
A strategic step forward for inclusive employee benefits
Through this and other partnerships, Old Mutual Corporate clients can now offer their employees a comprehensive suite of benefits — including Medihelp Medical Scheme cover, health insurance, gap cover, an employee assistance programme, as well as traditional retirement fund solutions and group risk cover.“We believe sustainability is not just about financial strength — it’s about relevance, responsibility, and resilience,” Mkwebu added. “This collaboration reflects our commitment to helping people live more secure, supported lives — not just through traditional employee benefits, but through a deeper alignment with what it means to thrive in today’s working world.”
In a time of rising healthcare costs, chronic health challenges and widening income inequality, the collaboration between Old Mutual and Medihelp offers a measured and thoughtful response to one of the key challenges in workforce strategy: how to ensure people are not only well enough to work, but well enough to live.
