There is a broad range of products available to provide affordable medical aid from an equally broad range of companies. Some medical aid companies are more geared to providing affordable medical aid schemes for government and private sector employees, some target businesses with group plans and others are more oriented towards the individual. Health care costs have increased greatly in South Africa over the past two decades and making sure that you have an affordable medical aid plan that also provides adequate medical cover may mean re-evaluating your plan and considering new offerings from different companies.
An important thing to look for when trying to select an affordable medical aid scheme is whether or not it will provide adequate coverage for your potential risk of health problems. Younger adults have different potential health risks than more senior adults. Also, a good medical aid plan will have allowances and emphasis on providing benefits for preventative health care. While having a comprehensive medical aid plan that can cover treatment for chronic disease, dread disease and surgeries – it is better to have a plan that recognizes that preventative care saves everyone money.
More and more affordable medical aid providers are also becoming less restrictive about members ability to move between plans. Some allow you to downgrade your plan at will, which can be an immense help if your income changes. Unfortunately, upgrading a plan or signing onto a new one is still restricted to set enrolment periods that may only occur once or twice a year. Also, many affordable medical aid schemes use two different payment approaches. The first and standard approach is a monthly payment towards the plan, much like a premium rate on other types of insurance. The second is the use of a health savings account. These accounts allow members to save money towards future health expenses so they are not caught unprepared when they have to pay the up to meet the threshold on the policy.
