The benefits to members who purchase private healthcare insurance can vary considerably. They differ between providers and the individual products offered by a particular scheme. In practice, anyone seeking cover for the first time or contemplating a change should compare medical aids before arriving at a decision. The first step is to choose the right provider. Short-term insurers offer hospital cash plans. However, they may cover incidental costs, but you’ll still have a hefty hospital bill. Instead, only compare products from South Africa’s dedicated medical aid schemes.
There are currently 76 registered schemes operating locally. Of these, only 18 are open to everyone. The overall number represents a fraction of those functioning two decades earlier due to insolvencies and necessary mergers. Perhaps you may prefer to spread your options and investigate all or most of the open schemes. However, there’s a lot to be said about choosing a provider that has stood the test of time. Few can boast over 50 years of continuous service, and Medshield is the oldest. When you compare medical aids, starting with Medshield could save you a lot of time.
Obtain Multiple Quotes Online
Should you wish to widen your search, several comparison sites enable you to obtain multiple quotes by completing an online form. Just don’t opt for the cheapest quotation automatically. Instead, choose all that you can afford and read the small print. Be sure what you’re getting meets your and any dependent’s most significant healthcare needs, not just your budget.
Make Sure You Choose the Most Reliable Option
A company’s financial standing is the best measure of its ability to process your claims promptly. Checking credit ratios and international credit ratings when you compare medical aids will give you a good insight into a scheme’s reliability. The solvency ratio refers to surplus cash and should be no less than 25% of the annual premium income. By contrast, Medshield has maintained a figure of more than double this minimum for years, despite the pandemic. Furthermore, an AA- international credit rating guarantees there will always be cash in our coffers. This combination is hard to match and offers reassurance that we can and will fully meet every commitment we make to our members.
Medshield’s Comprehensive Range of Options
That said, let’s compare the Medshield range of medical aid options. A choice of nine means there is something to suit everyone. The collection includes an entry-level unlimited hospital plan plus similar options that offer a personal savings account or partial day-to-day benefits. Six more-comprehensive products with correspondingly higher premiums complete our extensive offering. But why not check them out for yourself? You can click here to learn more about all nine Medshield options. It will avoid the need to compare products from multiple, possibly less well-established, medical aids.
