Family health insurance is a must. It would be very unwise to start a family without an appropriate medical aid plan.
A Medical Aid Insurance plan is one of the most import insurances that you would ever sign up for. Spending too little could result in major unforeseen and even crippling costs because of claims that aren’t covered in your Medical Aid or Health Insurance package.
Health insurance requirements are being addressed through a range of Medical Aid plans, classically varying from Hospital plans for the young and healthy to Comprehensive cover for the older policy holders.
Chronic benefits and cover for chronic diseases are a very important factor when considering a Medical Aid Insurance scheme.
Be sure to buy Medical Aid or Health Insurance from a reputable, well respected and established firm in South Africa. This will ensure that you are admitted to a hospital quicker and without cumbersome administration, during a medical emergency.
The difference between Medical Insurance and Hospital Plans
Medical insurance is a simple policy which covers you for a set amount per day for hospitalisation needs. Alternatively such policies may pay out a set amount for specific procedures. Always read the small print of a policy and be sure to understand the exclusions and limitations.
Hospital plans allow for direct control over your medical spending and management of your budget, but be aware that they differ significantly from Medical Insurance and Comprehensive Medical Aid plans.
Hospital plans offered by a Medical Aid scheme provide significantly higher levels of cover and peace of mind than policies offered by Insurance companies, though it costs more than an Insurance policy.
Some Insurance companies offer cash back incentives and no claim bonuses. This is very different from a true Hospital plan offered by a Medical Aid scheme, which is a product that the scheme negotiated with hospital chains.
A good Hospital plan could even offer unlimited in-hospital procedures. Hospital plans from Medical Aids are typically health care products whereby you manage day to day medical expenses yourself.
Difference between Hospital Plans and Comprehensive Medical Aid
Comprehensive Medical Aid plans cover out of hospital expenses such as doctor’s visits and medication, optometrists, dentists and the services of other medical professionals.
Do intensive research and don’t choose a health care insurance product purely for affordability and lower premiums.