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Medical Aid – Tips for Deciding Which Medical Aid to Join


ome Simple Tips for Deciding Which Medical Aid to Join

In some respects, deciding which medical aid to join differs very little from choosing a gym or a golf club. In each case, a prospective member may well begin by examining the membership fees and then follow up with a closer look at various facilities for which they will be paying. Others may, of course, check these in the opposite order.

Either way, there is one marked difference between these three decisions. Joining a gym or a golf club can be a way to keep oneself fit and to enjoy a better social life but taking out cover to assist with the huge costs associated with private healthcare could, at some future date, mean the very difference between life and death. As such, choosing the right cover must rank as one of the more important decisions that many South Africans will be required to make.

Before setting out to determine which may be the best medical aid scheme to join, it is necessary to make an inventory of your needs and those of any other family members for whom cover must also be provided. Do you have children who may require extensive orthodontic treatments? Might you be planning to start a family at some time during the coming year? If, on the other hand, you are young, single and have no dependents, how good is your general health? These are just a few examples of the many questions that you may need to ask yourself when compiling that inventory. A close examination of the specific benefits offered under a given scheme should help you to differentiate which of these are likely to be of real value from those which might simply contribute to a higher premium than necessary.

Ultimately, whichever medical aid you may choose to join, you will need to be confident that you can continue to meet the premiums each month for the full twelve-month duration of your membership. Should you default on a payment, your cover could be revoked, and so guaranteed affordability could prove to be an important factor in your decision-making. Nevertheless, for your peace of mind and that of your family, you should try your best to avoid making it the sole consideration.

While the importance of a product that offers all of the benefits relevant to you is important, these are essentially promises on paper and it is just as important to check out the credentials of the company responsible for drafting those promises. Look for a company that has a long history and that is seen to maintain a healthy solvency ratio (a minimum of 25%), a sound international credit rating and a sufficiently large membership with a reasonably low average age. All of these are factors that suggest a medical aid scheme that is positioned to meet its members’ claims in full and on time, at all times, and one to join if you are able.

It is also a good policy to avoid being influenced by non-core benefits such as loyalty points and discounts unrelated to health. They carry hidden costs that limit core benefits. For an established scheme that meets all the performance with comprehensive, but affordable core benefits, choose KeyHealth.