But she said: "The level of rebates that we share are negotiated with clients.
In some manufacturing sectors where government wants to encourage exports, like car parts, the level of rebates remains unchanged.
Higher than expected rebates and increased cost of sales the cause: Rebates were primarily being paid to wholesalers, as the mix shifted from direct sales to retailers towards more indirect sales via wholesalers the level of rebates paid increased.
Under the new regulation, companies sponsoring discount cards must obtain "some level of rebates, discounts or other price concessions" from drug manufacturers and must share some of the savings with Medicare beneficiaries.
"The result is that the benefits that may be provided by a personal pension, using the current level of rebates, would be less than those provided by the state scheme," said Axa.
Many consider that investors should switch back in earlier because the level of rebates paid by the government into their private plans is limited for these age groups and the contracted-out pension is unlikely to match what will be on offer from the S2P.
Private facilities accredited by NHIF are paid through a flat daily rate, based on the range of facilities available including X-rays, intensive care unit, number of health personnel, laboratories, operating theatres, overall area occupied, number of wards and ambulances; facilities are therefore paid different levels of rebate, depending on their accreditation score [ 19].
Sales in North America fell 14percentt as Volkswagen refused to match levels of rebates offered by competitors.
Noting the two potential levels of rebates, he said, "at $3,500 to $4,500 a car, that is the difference between making a little money and losing a lot.
In fact, our analysis shows that unless the levels of rebates are increased, anyone who is currently contracted out should contract back in".
