Without a medical aid – or at the very least a hospital only plan - you will be in serious trouble! Joining a medical aid must be your priority!
Medical cover is probably the most important safety net you can buy for yourself and your family.
Joining a medical aid must be your priority!
Waiting periods can be imposed on a new member. The length of this waiting period will depend on factors such as your health and how long you’ve been without medical aid cover and can range from a 3-month general waiting period to a 12-month condition-specific waiting period.
There are also Monthly Late Joiner Penalties to consider. The older you are when joining a medical scheme, the more severe the late joiner penalty.
So, the sooner you join a medical aid, the lower any possible penalty will be.
You can never be too young and healthy to join!
Your medical scheme pays claims out of different “pockets”.
One is from the scheme itself - risk cover – usually for major events. This is the insurance portion of the scheme.
The other is day-to-day savings – for doctor’s visits, blood tests and medication.
When this runs out you no longer have cover for day-to-day expenses, except on the higher plans which offer a safety net when savings are used.
What a medical scheme pays for from risk versus savings is an important issue.
Medical schemes like Fedhealth and Momentum have extended the cover that is paid from risk not your day-to-day savings, thus extending the life of your savings!
For example, if you go to the emergency room with a trauma like a broken leg or stitches, these schemes will pay claims without using your day-to-day savings account.
Some medical aids have extended this trauma benefit further. If you are in a car accident and require physiotherapy for several months afterwards again, this would be paid by the scheme and not your savings.
Fedhealth also pay for MRIs and pregnancy scans from the scheme and not your savings!
If the answer to this question is a resounding NO – then why not consider a hospital only plan and pay your own day-to-day costs?
It will certainly be way more affordable, whilst giving you protection against the real threat of high medical costs – hospitalisation!
These plans are specifically designed to cover the major portion of all treatment and accommodation costs that may arise during hospitalisation in a private clinic or hospital.Some treatments require an upfront payment, (for example back surgery, gastroscopies, laparoscopies, removal of wisdom teeth, colonoscopies and joint replacements), however you are covered for major medical emergencies and hospitalisation.
Once the funds are used, some plans pay further, limited, benefits (like network GP consultations or medicines).
Other plans offer a safety net where, once your claims add up to a defined amount, they then pay further costs (sometimes with a co-payment from you) for the rest of that year.
But, these are expensive plans!
Day -to-day benefits is an area where you may be able to “save“ on your medical aid.
We have never experienced anyone going bankrupt over a GP,chemist, dentist or optician’s bill, so the risk of self-funding these expenses should be low.
Maybe you should consider a hospital ONLY plan and pay your day-to-day costs yourself?
Medical aid is an insurance, that covers you for large and unexpected events which could financially wipe you out, not a way to buy chemist supplements and occasional GP visits!
You can provide your own day-to-day savings fund...open a bank savings account, or use your home as an access bond – pay extra into it and use that for day-to-day medical costs.
We also sell a HealthCard – a dedicated debit card that can only be used for your medical costs.
An ideal way to fund for your day-to-day expenses.
You can also invest in a dental plan to help with dental these costs. They will probably be your highest day-to-day expense going forward.
You also have to make sure how the scheme and option cover oncology, dialysis and HIV. Most schemes have specific benefit programmes for these conditions, which offer good cover, but it is important to make sure exactly what that cover is.
It is worth it to investigate the full value of the preventative care benefits on offer, as these may aid in preventing more serious conditions developing in years to come.
The premiums are based on income, so those earning less get to enjoy the same benefits as those with higher salaries.
Premiums start from a little as R370 pm for as single member.
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