What are your Medical Aid Options
Where medical aid is involved, one of the options most South Africans do not have is to forego the vital cover required to buffer them against the high cost of private healthcare. Almost nine million of the country’s residents are now dependent upon this specialised form of health insurance and, at least nine out of every ten of these would be totally unable to benefit from private sector treatment without the financial assistance that such schemes provide for members and their dependents.
If one ignores the differences between the many schemes operating in South Africa, there are essentially three medical aid options, the cheapest of which is actually offered by conventional insurance companies. Termed hospital cash plans, they pay a daily sum only while the insured is hospitalised. It covers only a tiny portion of actual costs and is best seen as a means to counter lost income. Similar plans from registered medical schemes actually do cover such expenses and meet all costs incurred through chronic illnesses but, again, only when hospitalised. They are, nevertheless, a good way for the young and generally healthy with limited income to protect against the high cost of emergencies.
For a family, however, any chosen medical aid must provide options that offer its members far more. Only a product that includes comprehensive cover directly relevant to the needs of the main member and all dependents will suffice. In addition, only a product that meets most or all of the costs incurred for investigation, treatment, medication and hospital accommodation, should it prove necessary, will guarantee members the peace of mind that they are paying for.
It’s frequently said that you only get what you pay for and this often applies when comparing medical aid options. There are, fortunately, exceptions. While some schemes offer loyalty points and discounted entertainment or gym memberships, these add cost without core value. The KeyHealth way is to focus on benefits and implement ways in which to cut costs, so as to add core benefits at no cost, positioning us among the nation’s best medical aid options.
