Choosing a medical aid can be a daunting task if you’re not sure what you’re looking for. So to help you in this process we’ll tell you what the experts suggest you look for and then we’ll help you through the process, product by product until we find the right one for you.
What the experts say you should look for in choosing the right medical aid
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- Check a scheme’s payment record. You can phone your family doctor or dental practice and ask them about us. If this doesn’t show you that we mean what we say, nothing will.
- Check a scheme’s solvency ratio. We’re one of SA’s largest, fastest growing and most established medical aid schemes. We have a consistent AA- Global Credit Rating and have a reserve ratio of over 50%, well above the legally required 25% so you can count on us being around for the long run.
- What’s your budget? Full cover vs. a hospital plan. Decide whether you can afford the normal day-to-day medical expenses, such as GP visits yourself. Hospital plans are often far more affordable than full medical cover but do remember that even hospital plans cover you for some specified chronic conditions (known as PMB’s).
- Check your health. If you suffer from chronic medical conditions, such as diabetes, you might need full medical cover rather than only a hospital plan. If you are generally healthy, but have eyesight or dental problems; choose a scheme that makes adequate provision for this.
- Check the table of benefits carefully. We try to make the decision-making process as simple and easy as possible but we can’t avoid some of the ‘small print’. Each and every product has its own inclusions and exclusions and it really is up to you to look at this carefully – it’s your medical aid. For example check what the Day-to-Day Limits are and how much your Medical Savings Account (MSA) is per year. If the MSA is small, you could exhaust your Day-to-Day cover by February. Also, many private hospitals do not charge medical scheme rates – you could be landed with an unpleasant bill after your hospital stay, despite having hospital cover. Check what co-payments you will have to make on all bills. It really is worth spending some time on this as this is where many misunderstandings come about.
Medshield’s range of products provides members with the best possible medical aid benefits at affordable prices. Medshield has seven (7) products to cater for different lifestyle and budget requirements, thus making Medshield one of the best medical aid schemes in the country.
Families and corporate individuals can rest assured that our Premium Plus option will fulfill all their health care needs! This option offers unlimited in-hospital cover, with certain in-hospital procedures paid at a higher rate (Medshield Private Tariff 200%), than the Medshield Tariff (100%). This plan allows you to manage your out-of-hospital medical requirements through a Personal Savings Account which is a fixed percentage of your monthly contribution, allocated to your Personal Savings Account based on your family size and option. The unused funds are transferred at the end of the year to the following year.
At the very least, everyone should have unlimited In-Hospital cover in case of major medical emergencies. MediCore offers unlimited In-Hospital cover, with certain In-Hospital procedures paid at a higher rate (Medshield Private Tariff 200%), than the Medshield Tariff (100%). This option has no Day-to-Day benefits and is ideal for young individuals.