Perhaps you are not among those lucky individuals who receive assistance with private healthcare expenses under an employer’s group scheme. In that case, your only option will be to join one of the twenty open schemes currently operating in South Africa. Naturally, you will want to make some comparisons before you sign up, so requesting a few medical aid quotes is a good starting point. Thanks to comparison sites, that’s the easy part. You can now obtain multiple quotations by entering a few personal details into an online enquiry form. However, the next step could prove crucial. Once you have received the requested information, what should you consider when making your choice?
Given the severe financial difficulties that many South Africans are experiencing today, the affordability of the monthly premiums seems likely to influence your choice. Nevertheless, it could prove crucial that you don’t base your decision on price alone. The value of your medical aid quotes lies in the support you will receive in exchange for your money. Consequently, the next step in your selection process should be to identify all those offers that fall within your budget and examine them in more detail. The following tips should prove helpful.
Start by assessing your needs. You might consider a hospital plan if you enjoy good general health and seldom need to visit your GP. You will find this option more affordable than a fully comprehensive product. It will cover the costs if you are hospitalised for a medical emergency or an accident. These medical aid quotes also include cover for 25 specified chronic conditions under the terms prescribed by the Council for Medical Schemes. You will, of course, be responsible for meeting all other out-of-hospital expenses.
However, a hospital plan will not be suitable if you or a family member experience frequent health issues. In this case, you will require year-round cover, and a higher premium will be inevitable. When making your choice, you will need to compare the benefits tables. Look for the out-of-hospital benefit limits or day-to-day. Based on your experience, will these be enough? Often, medical aid quotes appear to cover 100% of the cost for certain contingencies. The figure refers to the Department of Health’s recommended tariffs. However, private healthcare providers will often charge double these rates or more. Look for products that offer to cover 200% or more of the DOH recommendations or consider an additional gap cover product.
Lastly, before finalising your choice, check each scheme’s performance. Your GP will know who settles claims promptly and who doesn’t. A broker will confirm if a company has the minimum mandated 25% cash reserves. Better still, approach Medshield directly for affordable medical aid quotes. You can find details of our nine world-class products here.
