Factors to Consider When Checking Medical Aid Quotes

  • June 10th, 2024

Perhaps you are newly independent and now responsible for paying your healthcare costs. Alternatively, you may already have some cover but are looking for a better deal. Either way, you will probably want to compare several medical aid quotes before making any binding decisions. At one time, you would have needed to approach several companies and wait for their responses by post with no guarantee of finding the best deal. Thanks to the internet, you can now conduct the entire process online in just a few minutes.

Comparing Medical Aid Quotes

The web is now replete with sites that allow you to compare the prices of everything from groceries and car hire to overseas flights and vehicle insurance. Consequently, it should come as no surprise that the internet also hosts several sites that enable one to compare medical aid quotes. In exchange for providing a few personal details, visitors can receive multiple quotations and study them at their leisure. However, it’s essential to accept that the prices supplied should serve only as a guideline to determine which of the quoted products you can best afford. Any final decisions should be based on a comparison of these and their relevance to your specific healthcare needs.

Hospital Plans as an Alternative

Perhaps you are young, unmarried and enjoy good general health but don’t earn a sufficient income to afford fully-comprehensive cover. In that case, you should consider restricting your search for medical aid quotes to hospital plans. These will meet most and possibly all of your costs if you need to be hospitalised following an accident and require costly surgery. For the remainder of the membership year, your sole liability will be to cover the cost of any GP visits and prescription medicines. 

On the other hand, if you are married and, especially if you have young children, you will probably be wiser to explore products that provide year-round cover. While these inevitably carry a higher monthly premium, most schemes can supply medical aid quotes for several suitable products. At least one or two providers should present you with a product that is both affordable and relevant to your family’s most likely needs.

Conditions Related to Pre-Existing Illness

Don’t be disheartened if you have a pre-existing illness. Unlike insurance companies, South Africa’s medical schemes may not refuse you cover or increase your premiums even though you present a higher risk of claims. However, there might be a mandatory waiting period before you are permitted to submit claims directly arising from a pre-existing condition. Incidentally, the same restriction also applies to a pre-existing pregnancy. When comparing your medical aid quotes, you will need to focus on the benefits of each product that you can afford.   The benefits define each contingency covered or excluded under a given product’s terms and conditions. In addition, you should note the maximum amounts permitted for specific benefits and annual totals for each contingency and any applicable exceptions. Ensuring these meet your needs and those of your dependents as fully as possible should be your criteria when making a selection from the medical aid quotes received. However, many discerning South Africans have learned the best way to ensure relevant benefits and value for money is to perform their comparisons and make their final selection from the extensive Medshield range.

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