How can Medical Aid be Made More Affordable?
Given the way in which premiums have escalated, particularly during the last decade or so, many South Africans have been forced to ask themselves the question – can I really afford to pay for medical aid membership? The stark reality is, however, that a more appropriate question should probably be whether or not they can actually afford to be without one. The steady decline of the state hospitals and clinics has reached the point where, most of those in need of more than the most basic primary care will be joining a long and rapidly growing waiting list, while many essential treatments are simply unavailable due to their high cost and the increasing inadequacy of subsidies from the depleted state coffers.
To finance private healthcare expenses, a scheme must ensure that the income from premiums exceeds the cost of claims by a margin that is, at least, sufficient to meet its operating expenses, while also maintaining an adequate cash reserve to meet any unforeseen contingencies. In all cases, maintaining affordable membership fees is also a pre-requisite. Different schemes attempt to ensure that their members can afford medical aid premiums in various ways. Some simply trim the benefits to members, while others may seek to increase their total membership through marketing strategies that encourage enrolment by offering discounted entertainment or the opportunity to earn loyalty points that may be used for the purchase of consumer goods.
At KeyHealth, we have chosen to adopt a different approach – one which is intended to ensure that, rather than curtailing a member’s cover, we actually extend the core benefits offered by each of the products in our range. Our policy is founded upon the appointment of a network of proven, preferred suppliers to limit healthcare expenses at the source, combined with clearly defined benefits unburdened by the hidden cost of so-called freebies. What you see is what you get, and that is comprehensive cover much of which, like our health booster, smart baby programme and Easy ER benefits is unique to KeyHealth – the medical aid you really can afford.