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If You Cannot Afford a full Medical Aid, then consider an in-hospital only plan and cover your greatest threats of high medical costs at a very affordable premium.

Healthcare is so expensive that many people are considering saving for all medical costs on their own. But this can be a financially devastating decision!

We face two threats of high costs - private hospitalisation and dentistry.
These are the basic areas you should cover with a medical aid.


1. WITHOUT MEDICAL AID YOU WILL MISS OUT ON THE BENEFITS MEDICAL SCHEMES HAVE TO PROVIDE IN TERMS OF THE LAW - IRRESPECTIVE OF THE PLAN YOU CHOOSE.

All medical aids, including in-hospital only plans, must offer Prescribed Minimum Benefits (PMB) cover. This includes around 270 hospital procedures, treatment and medicines for 26 chronic illnesses.
PMBs apply in respect of conditions that, if left untreated, will result in death or detrimental quality of life. In terms of current legislation, this is cover you are entitled to from any medical aid plan.


2. IF YOU CHOOSE TO SELF-INSURE, IT IS HIGHLY UNLIKELY YOU WILL EVER SAVE ENOUGH TO PROTECT YOURSELF FROM PRIVATE HOSPITALISATION EXPENSES!

Private care is just so expensive and the time to save a sufficiently big fund is just too short! The costs of hospitalisation are impossible be quantify.

Diverting money to build your own medical fund, from savings meant for your #1 goal of a pension, is not a recommended financial strategy!

Joining a affordable in-hospital only plan and saving towards a pension is the real goal you should have!


3. HOSPITAL ADMISSION WILL REQUIRE A CONSIDERABLE UPFRONT PAYMENT.

If you need emergency treatment, without a medical aid, you will have to pay a deposit, which can be substantial.
You may be denied treatment and referred to a government facility if you do not have the money.

And what if you need a hospital after hours?

Having a medical aid hospital plan will ensure you get immediate admission to hospital - with no co-payment!


4. THE LONGER YOU DO NOT JOIN A MEDICAL AID, THE HIGHER THE LATE JOINER PENALTY WILL BE.

A new medical scheme member, over the age of 35, is subject to a late joiner penalty.
The amount of the penalty is based on the number of years you have not been a medical aid member – the greater the years - the higher the penalty
It is a monthly penalty – for life and can be as high as 75% per month!


5. WHY CREATE YOUR OWN DAY TO DAY SAVINGS FUND?

You pay an added amount (as part of your monthly premium) which is added to this fund. However, you cannot use the money as you wish.
The medical scheme dictates how you use it.
They do not pay interest on your savings – like you would get in a bank account.

Yes, they do offer you a year’s worth of savings upfront and it takes time to accumulate your personal savings fund.
But, on plans with a safety net should you use your savings, there is a fee!
You don’t get your full allocation of monthly savings amounts in your fund.

Your own savings fund can be used for any other emergency expenses you may have to face, not like in a medical aid where you are restricted to only certain claims.

If you can afford to pay for your own day-to-day costs (through your own savings) and accept the small risk of self-funding whilst your savings grow, then maybe avoid plans with savings and join an in-hospital only plan.


THE GENESIS PRIVATE PLAN IS THE BEST HOSPITAL PLAN TO OFFER THESE BENEFITS!

cannot afford hospital

cannot afford a dentist

It has cover for:

  • Hospital admissions, ward, theatre and other related costs like x-rays, blood tests, medicines at twice the medical aid rate.
  • Major medical illnesses like cancer and kidney.
  • Diagnostic scopes
  • General practitioners and specialists being reimbursed at cost up to 200% of medical aid rate
  • Cover for essential dentistry benefits like:
    3 dental oral examinations; 6 fillings; tooth extractions; 6 plain X-rays for conservative dentistry; 2 root canal treatments; crowns, bridges or dentures: Surgical removal of impacted wisdom teeth.
  • All members have the luxury to choose their preferred hospital, doctor or medical specialist.
  • You are never forced to use network hospitals, nor to make use of network medical practitioners.
  • Emergency pre-hospital treatment, evacuation and transport through the ER24, as well as a medical helpline.
  • Chronic medication.

AND:

  • Rates for children are considerably lower than any other scheme.
  • Genesis has in excess of 6 times the minimum level required by the Medical Schemes Act.
  • Consistent financial performance of the scheme, has resulted in Genesis having a very high claims paying ability. Put your concerns at rest, knowing that claims will be paid.
  • Rated as one of the best value-for-money medical scheme benefit options in South Africa in the GTC Healthcare Consulting 2018’s Medical Aid Survey.
  • Lowest contribution increase of all open schemes for 9 consecutive years.

And best of all, affordable premiums from as little as R 1,850 pm!

Now you can take control of your medical aid costs and get the finest in-hospital and essential dentistry cover - all in one plan!

top upPrivate provider fees are not regulated and many can charge up to 500% of the medical scheme rates!

Some plans pay claims at 200% or 300% of medical aid rates, offering you a lower claim shortfall, but these are more expensive.

Increasingly, plans also have procedure co-payments, which you have to fund.

You are strongly advised to consider a GAP or TOP UP insurance plan to address these threats.

This separate insurance plan will cover most in-hospital claim shortfalls and scheme co-payments.

By adding a Top Up plan you can improve your medical aid benefits, so-much-so, that you can even consider joining a lower cost/benefit plan - with a lower premium - and still have an excellent, no risk medical aid for virtually the same premium as the higher medical aid!

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peter pyburn brokerpeter pyburn

Last update: May 6, 2021

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