Choosing an appropriate medical aid scheme can be overwhelming and while the country is experiencing a grim economic period, tightening your belt is essential.
However, cancelling your medical aid should be avoided as this cover will protect you financially if you have unexpected medical emergencies. Rather look at how you can make your medical aid and savings last longer.
In difficult times, the first thing many people do is look for a more ‘budget friendly’ plan – usually the most alluring is a health insurance plan, however, it is important to note that while health insurance may cover unforeseen medical aid care, it is not as extensive as medical aid cover and may not cover the Prescribed Minimum Benefits, which are covered on all medical schemes.
Primary health care insurance cover is also available to cover healthcare expenses and is designed to offer affordable primary health care cover to the previously uncovered population. It should be noted that these products often do not cover all hospitalisation and they are not necessarily a viable substitute to a medical aid scheme.
Gap cover is a separate type of healthcare insurance cover and is designed to cover certain medical costs that your medical aid may not cover while you are in hospital. It is also important to understand that these products are not medical schemes and can only be offered in addition to valid medical scheme membership. Cover will depend on the particular product and depending on design, may not include: