Assistance with private healthcare expenses is essential for most South Africans. Equipment and medication costs have continued to rise annually, making it increasingly difficult for medical aid schemes to keep their products affordable. Their solution has been to offer products that provide only limited cover, for example, restricted to periods while the member is receiving treatment as an in-patient. While this is undoubtedly the cheapest option, performing an in-depth hospital plans comparison is still a good idea before committing.
All products share one common feature. They must provide cover for the prescribed minimum benefits (PMBs) mandated under South Africa’s Medical Schemes Act. These include diagnosing, treating and caring for 26 chronic illnesses, including asthma, diabetes, epilepsy and hypertension. However, while some scheme’s products may restrict cover for PMBs to hospitalised periods, others extend these benefits to cover the whole membership year. Suppose you or a family member has a chronic illness. In that case, this difference could be crucial when conducting your hospital plans comparison.
Even the extent of the cover you may be entitled to whilst in hospital can vary between schemes and their relevant products. What if your entire family was involved in a motor accident? Is the cover for in-hospital treatment unlimited? Suppose you must continue your medication after discharge following a medical emergency. Will you need to pay for this from your own pocket, or will the plan also cover this cost? Following an accident or major surgery, you could need a course of physiotherapy. Who will pay for this? These questions are an essential part of the hospital plans comparison process.
If your general health is reasonably good and you don’t often visit your GP or need medication, this type of cover should be adequate. However, it might not be suitable if you and your family frequently need medical attention. That does not necessarily preclude you from seeking this more affordable option. It would help if you tried to find a plan that includes a personal savings account. Doing so will also offer you a means to manage your out-of-hospital healthcare expenses.
Naturally, one reason for conducting a hospital plan comparison is to find a product with affordable monthly payments. While the cost of running a hospital and purchasing medication is constantly rising, some schemes rely on a network of preferred service providers to minimise costs. Suppose you are happy to use the prescribed services, then these products offer a way to benefit from lower premium prices without compromising your benefits.
Medshield offers one of the largest selection of medical aid products. You can click here to make a detailed comparison of our competitively-priced hospital plans.
