Some Tips on How to Compare Medical Aids more Effectively
Many of those who compare medical aids are inclined to look no further than the size of the required monthly premium payments. Given the current financial climate in South Africa, it is a practice that is actually quite understandable. However, it is also a practice that carries a high degree of risk to those enrolling on this basis and to his or her dependents. The old adage about only comparing apples with apples is especially relevant when engaged in the search for affordable healthcare cover. Failure to do so is one of the most common mistakes and one that, for many, has led to some disastrous consequences.
Unlike choosing a car, when you compare medical aids, you will not be offered a free test drive. Furthermore, this is one purchase for which you would be unwise to skip the small print. In fact, before agreeing to private healthcare cover there are a number of details that will need to be checked in detail and perhaps the first of these is your general health and that of every family member to be included in the scheme. For instance, if you or a dependent has a chronic illness requiring lifelong treatment, unless you can afford to pay for this personally, the average hospital plan, although cheap, could spell financial disaster.
Step one when you compare medical aids then, is to confine your search to products that include the benefits whose needs you are aware of and those you can anticipate, such as dentistry and perhaps a pregnancy. You will also need to check that the annual limits on those benefits are sufficiently high to meet your estimated requirement. No one can anticipate an accident or the need for emergency surgery, so adequate hospital benefits will also be a must.
Your prime requirement is to cover the cost of your healthcare, so be aware that there really is no such thing as a free lunch. Many of those who set out to compare medical aids are distracted by their fringe benefits, such as cheap movie tickets or gym memberships and loyalty points, and fail to notice what they may be sacrificing in return. Choose a scheme that is all meat, don’t pay for gravy.
It’s always a good plan to learn something about the faces behind the name so, while you are comparing its products, check out the company at the same time. This is something that can often be done via one of the better comparison websites. You need to be assured of a scheme that has sound finances and an established record of meeting its claims both on time and without quibbles, before you begin to compare the prices of medical aids.
At KeyHealth, we are blazing a new trail with a range of five products that are tailored exclusively to meet members’ needs within their respective budgets. The absence of frills does not mean we provide no add-ons, and even our entry-level product includes our unique Easy-ER, Smart Baby and Health Booster benefits without detracting from its essential cover or the extensive list of exclusions typical of other schemes. The Smart Baby option alone offers far more in benefits than the cost of a monthly premium. Compare that with other medical aids.