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Do You Need to Switch to More Affordable Medical Aid?


Global events have led to unprecedented inflation, leaving many South Africans struggling to save money. Finding more affordable medical aid is one option. Inevitably, the rising cost of medication and equipment has led to increased operating costs in the private healthcare sector. In turn, medical schemes have been under pressure to increase their premiums.

The Council for Medical Schemes, the industry’s regulatory body, must approve any increases and ensure they are justified. However, many individuals can no longer cope even with a comparatively minor price hike. These difficulties have increased the number of existing medical aid members looking for cheaper options.

A scheme must have a sufficiently large membership to ensure its operation remains viable and can continue to meet its obligations. Some will attempt to achieve this by offering incentives like discounted gym fees or free cinema tickets. However, in practice, these so-called freebies must be paid for somehow, and the solution is often to curtail some of the members’ core benefits.

At KeyHealth, we have a different policy. We look for ways to reduce medical expenses and pass the savings on to our members.


Your options when seeking affordable medical aid

If you are finding it tough to pay your current monthly premiums, you have two options. You can either look for a better offer from a different provider or enquire about a less expensive option from your existing one. If you choose the first option, be sure to switch promptly. It may be tempting to abandon your current membership for a few months to save money. However, the general waiting period clause could leave you paying three months’ premiums to your new provider while being barred from claiming during that period.

The second option could be a viable choice. Most schemes offer at least five or six products that provide benefits proportionate to their premium price. Suppose you and your family usually have good general health and are happy to pay for the occasional GP visit, prescription charge or over-the-counter medication. In that case, hospital plans are the most affordable medical aid option. If you stick with the same provider, you are free to switch products at any time, but it’s best to do so at the start of a new year.

On the other hand, you could do what many cash-strapped South Africans are doing: switching to KeyHealth.


Affordable medical aid from KeyHealth

You can choose from six products that cover all needs and budgets. Each includes three invaluable core benefits completely free of charge. If you’re ready to switch schemes and save, get in touch with KeyHealth, South Africa’s oldest and most trusted medical aid scheme.