What Type of Medical Aid is Most Suitable for Students?
When seeking medical aid for students, there are really just three important considerations. How old is the prospective member? How good is his or her general state of health and who will be responsible for paying the premiums?
For the student who has not yet reached the age of 18, the only option under current South African legislation is to be enrolled as the dependent of a main member and cover is valid until he or she reaches 26. It need not be a parent, however, and an uncle, an aunt, a grandparent, an adult sibling or even a friend are all possibilities. In such cases, it is most likely that the medical aid for students will be fairly comprehensive, yet add little to the premium of the main member.
For those aged over 18 and not already a dependent member, the most affordable option, especially when it is to be funded by a part-time income, is likely to be a hospital plan. While many tend to choose this option purely to save money, it needs to be stressed that these products were designed primarily for young people who enjoy sound general health and cover only the potentially crippling cost of accidents or other emergencies that require admission. This should meet most of the important medical aid requirements for students. However, for those who may suffer from a chronic condition, such as asthma or diabetes, in the majority of cases, the related costs will also only be covered during periods of hospitalisation.
Rising healthcare costs have affected the private sector just as much as the state facilities and to keep membership at affordable levels, fund managers have had to come up with a range of products that are far more flexible in terms of both benefits and premiums.
In this respect, few schemes in South Africa have been more successful in keeping premiums to a minimum without compromising on our member’s benefits than KeyHealth. Our current product range includes options to deliver quality yet affordable medical aid for students.