Some Tips About How to Evaluate Your Medical Aid Quotes
If, like most South Africans, you need some financial assistance to meet the high cost of private healthcare, then you will want to ensure that you get the best possible value for your money. That is to say, you would like to keep your monthly premiums low, but also to be quite sure that whatever cover you may be promised in return will be sufficient to meet all of your most likely needs and those of any dependents that are also to be covered by the scheme. The appropriate starting point is invariably to obtain some quotes from a number of medical aid schemes
While one can never underestimate the importance of adequate benefits, they only remain of value for as long as you can afford to meet the premiums, as lapsed payments will cause your cover to be suspended immediately. Affordability will therefore also be an important factor when making your choice. However, since your health is crucial, it would be unwise simply to accept the lowest quite, as one might be inclined to do when, for instance, purchasing life cover or home and contents insurance.
Friends or colleagues will often be able to make recommendations and, in practice, such word-of-mouth testimonies can be very helpful. However, for your own peace of mind, you really need to check out some possible alternatives. Phoning a few schemes from the yellow pages could work, of course, but a far quicker, simpler and cheaper approach to obtaining medical aid quotes would be to use one of the many online comparison sites designed to act as guides to South Africa’s bargain-hunting consumers.
You are, however, most unlikely to find a single site that reviews all of the 26 open schemes currently operating in the country. Unlike closed schemes that restrict their membership to specific companies, professions, industries and other groups, an open scheme will accept any applicant and is especially suitable for self-employed people or for those whose employers are not bound to one of the closed group scheme. Be aware that these sites depend upon commission for successful referrals and may tend to feature some schemes more prominently.
If you are going to use comparison sites to get your medical aid quotes, be sure to visit several and obtain a couple from each. When you have collected perhaps a dozen or so, go through them and now pick out all of those that you know you are able to afford, and please don’t be tempted to just settle for the cheapest. Once you have assembled your shortlist, the next step is to take a closer look at the various benefits offered by each of the affordable products. The terms should list all of the illnesses and related contingencies that are covered, the percentage of each that will be paid against each related claim, and the annual limits imposed by the scheme upon claims for each of the contingencies covered.
Finally, compare what is offered with the anticipated needs of you and your family, and choose a product that meets or even exceeds these estimated needs. If KeyHealth is not on your shortlist, we should be. We have more than 6 decades of experience and offer the most comprehensive cover available.
