5 Myths About Medical Aid Schemes in South Africa

Go to any get-together or party and someone is bound to bring up topics such as politics, insurance, and medical aid schemes. Within South Africa, there are a few major coverage providers that have remained popular for the last few decades. Here at Medshield, our industry-leading coverage options have been around since 1968, and our experience and knowledge when it comes to what our members need remains unparalleled. It is our objective to make comprehensive coverage both affordable and easy to understand, which is why we have a look below at five myths about medical schemes in South Africa for which to watch out.

Myth 1: Only Wealthy People Can Afford Healthcare Coverage

Public healthcare within South Africa indeed has a poor reputation, and many who end up in state-funded hospitals and clinics would certainly prefer private healthcare. While premium, comprehensive cover options do cost more, certain options -such as hospital plans -, are an affordable expense, especially when one considers that it is one’s health on the line. At Medshield, we make it our business to offer affordably priced benefits that suit both the lifestyle needs and budgets of our members.

Myth 2: Medical Aid Schemes Reject Some Applications

In South Africa, no applications can be turned down. While late-joiner penalties as well as a three-month or 12-month waiting period may apply, your application will be approved if you are able to pay the monthly membership contribution. No matter your current health status, it is always best to seek quality coverage.

Myth 3: 100% Coverage Means No Out-of-Pocket Payments

100% coverage simply means that the scheme covers you for 100% of the medical fund tariff. This tariff is often far lower than the actual cost of your specialist or hospital fees. This difference in fees can be remedied with an out-of-pocket co-payment, gap cover, or medical savings options offered by some schemes. If you foresee a future operation or treatment, speak to your specialist about what the charge will be for the procedure and compare this to what rate your scheme covers.

Myth 4: Medical Aid Schemes Hardly Ever Pay Out

Another misconception is that every scheme is a scam or trick to swindle members out of their money. According to legal regulations, however, a scheme has to pay out within 30 days from the date they receive a claim. Members who feel done in by their scheme often do not understand what their chosen plans entail, such as coverage rates and benefit limits.

Myth 5: All Medical Aids Are the Same

Functionally, they are all the same in that they are non-profit institutions run by their own trustees. However, they do not all have the same plans and benefits available. Product offerings usually vary as any scheme is free to target whichever demographic they see fit. At Medshield, we offer a wide variety of products from hospital plans to premium, comprehensive cover for the whole family.

Do not get caught up in the confusion and frustration of researching medical aid schemes in South Africa. Simply get in touch with us at Medshield today and enjoy how easy it is to apply and become a valued member.