Medical Aid for Students
Medical Aid for Students offers financial cover for health-related expenses at an affordable price for those who have become too old to stay on their parent’s policy but are not yet permanently employed and are still studying at a tertiary institution. Proof of enrolment at an institution will qualify you for reduced rates.
A Hospital Plan that covers mainly in-hospital costs is the most popular choice for students who are relatively healthy, but would like the assurance that they are covered financially should they require hospital admission. A comprehensive Medical Aid plan is still an option though, if the funds are available, for students who have a chronic condition. Cost-effective plans that offer both in- and out-of-hospital cover are also available based on your individual needs.
If you are 21 years of age or younger, you are allowed to be a dependant on your parent’s Medical Aid and will be charged the child rate. Certain Medical Aids allow you to continue paying the child rate up to age 26 provided you can present proof of full-time studies.
The best way to figure out which option suits your needs and budget, is to compare quotes online with Hippo.co.za.
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Medical Aid for Pregnant Women
Medical schemes offer comprehensive or hospital plan cover to expecting moms to provide for their medical needs. If you have comprehensive cover, your essential antenatal consultations as well as in-hospital childbirth are covered, whereas if you have a hospital plan you will need to cover the costs of any out-of-hospital expenses. It is important to find the best value for your requirements. Look for the best benefits at the lowest price, without compromising quality. This is why it is helpful to compare Medical Aid quotes from a range of different providers.
Having a comprehensive Medical Aid plan will ensure that your consultations pre and post birth, as well as the birth itself is covered. Depending on the scheme, the full rate for any specialist consultation may not be covered, in which case you will have to pay the difference yourself. Having a hospital plan will ensure that your in-hospital childbirth is covered but you will have to pay for any out-of-hospital expenses.
Depending on your chosen Medical Aid plan, your newborn will automatically be covered upon their birth as long as you inform the Medical Aid and complete the relevant forms as soon as possible for them to adjust your rates.
What happens if you’re pregnant and you don’t have comprehensive cover or a hospital plan?
While a medical scheme cannot refuse to accept a pregnant woman who applies for cover, the current pregnancy and childbirth won’t be covered. This is why it’s always best to take out Medical Aid while you’re still young and healthy and are able to contribute enough to your policy so that when you fall pregnant, you are well and truly covered. Compare quotes online to find the best policy to suit your needs.
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Medical Aid for Pensioners
Medical Aid for Pensioners offers financial cover for health-related expenses specifically for those at the stage of retirement. Medical Aid schemes in South Africa do not have an age restriction, but a fee does apply if you start your cover for the first time after the age of 35. Medical Aid for people of pension age can be difficult to compare. Often, as people reach retirement age, their disposable income decreases, but their health risks increase. That is why it is always best to get advice from a professional financial advisor or Medical Aid broker.
Advantages and disadvantages
As a pensioner whose budget is tight but whose medical expenses are expected to increase due to their age, it is vitally important to note that there are options available to suit their budget and their medical needs. Pensioners could benefit from considering Medical Aid plans that include comprehensive in-hospital cover in case of medical emergencies, day-to-day cover for GP visits and medication, as well as dentistry and optometry.
But, if you have never signed up for Medical Aid before, and you’re of pensioner age, you will have to pay a late joiner penalty fee that can increase your monthly premiums by up to 90%. This fee is dependent on age, so someone who is 65 will pay less of a penalty fee than someone who is 80, for example. There is usually no waiting period for a payout for a pensioner if they had some form of Medical Aid before. If you have not belonged to a Medical Aid scheme before, a waiting period will apply.
If you have yet to invest in Medical Aid, or have decided to take out a new policy, it’s best to do your research before you apply. Compare benefits and prices online with Hippo.co.za and you’ll be on the right path to finding the best deal for you.
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Why do you need Medical Insurance?
- Medical Aid provides in-hospital cover and pays for treatment according to the cost of the condition.
- Medical Insurance, however, traditionally pays out a set amount for each day spent in hospital, regardless of the type of treatment that’s required, and can be used as a top-up product for when your Medical Aid savings have run out.
Medical treatments and procedures are expensive as you’re charged for everything from the cotton swabs and latex gloves to the use of the hospital gown. All these items contribute to escalating medical bills. But, the rising cost of healthcare shouldn’t leave you and your family without any cover.
Medical Insurance is usually a cheaper option than Medical Aid and provides in-hospital cover. A lump sum is paid out for each day that you are hospitalised. The payment is made directly to you and the money can be used to pay for the cost of medical treatment or to pay for other daily expenses incurred whilst in hospital. Depending on the policy that you choose, Medical Insurance can also provide cover for certain day-to-day medical expenses like doctor’s visits, medication for colds and flu, or trips to the dentist.
Get Medical Insurance to complement your Medical Aid policy or to ensure that you are covered for unexpected medical expenses.Compare Medical Insurance quotes