Best Hospital Plans 2017? Which are they? and does yours match up? The year is still young and many are taking stock of their finances, including their insurance coverages. It’s a good idea while reviewing your coverage to protect your car, your home, your life and more you should take some time to review your current hospital cover, as it may be that there is something better suited to your needs available in 2017.
When doing so it’s tempting to concentrate only on the possibility that you could save some extra money this coming year. After all, who doesn’t like to save money when they can? Even though you know that’s it’s a sound and sensible idea to hold coverage in case you need the hospital, do you really have to spend a lot of money to get it?
However, before you head off on an Internet hunt for the cheapest and best hospital plan in 2017 it’s worth keeping in mind an age-old piece of wisdom; you get what you pay for. And however much you pay for it, any hospital plan is only good if it offers the coverages you personally need. Here are some of the things you should be looking for when shopping the best hospital plans for 2017.
Best Hopital Plans 2017
Scheme Rate vs. Reality
Many of the hospital plans you will encounter will proudly proclaim that they pay out ‘100% of Fund/Scheme Rate’. Which sounds great, you will be 100% covered if you happen to have the misfortune of needing to use your hospital coverage this year.
However, things are not quite that cut and dried. The fund/scheme rate you are reading about is a coverage level that is set by the medical aid company. Increasingly that does not match up to what the hospital – and the medical professionals who treat you – will bill you after treatment is rendered. Which could leave you with some big bills to grapple with as you try to recover, not something anyone wants or needs.
Often, the cheapest hospital plans, the ones with the monthly premium that looks like it is going to offer you a nice little set of savings in 2017, comes along with fund rates that are very low when compared to real life rates, leaving you far further out of pocket after a hospital admission than you had banked on, negating any small savings you might have enjoyed so far. The best hospital plans for 2017 are usually those that offer a higher scheme rate, even if they cost a little more.
Best Hopital Plans 2017
Take note of Where Can You Be Treated?
Most of us imagine that should we be caught up in a medical emergency we’ll be whisked off to the nearest hospital of choice, the one we trust. That may not always be the case. Some hospital plans will only cover that 100% rate if you use a ‘network hospital’, and that may not be the facility you have in mind at all. Therefore, before switching to any hospital plan you need to make sure that you’ll be comfortable with the facilities it covers treatment for.
Best Hopital Plans 2017
Understanding Co-Pays is very important
Most medical aid hospital plans do call on the patient to make certain up front co-pays when they receive medical treatment. And in some cases, unless you are being admitted for a grave, life-threatening emergency you will be expected to pay that co-pay up front. When comparing hospital plans, checking what these co-pays might be is a must, so that you can budget for them to avoid treatment or surgery delays.
Best Hopital Plans 2017
Medication Matters
Most people leave the hospital with prescriptions for medications they will need to continue taking at home, at least for a while, to help ensure that they make the best possible recovery, However, if a patient was treated for a condition that is not covered under the PMB Chronic Disease Conditions protocols then the cost of that prescription will fall to the patient under the guidelines of many hospital only plans. And even in the case of PMBs, which the law dictates any plan covers medication costs for, the plan may require you to use only certain pharmacy chains or medical delivery services. So, it is another must that you check what medication coverage – if any – a plan offers you.
Before you decide about which hospital plan is right for you in 2017, these factors are all things to keep in mind. Shopping around to save money is OK, and it may be a great idea as the medical aid coverages available are increasing in number and rates are becoming more competitive. Just make sure that you are getting what you need and not unintentionally leaving yourself uncovered for the sake of a few rand a month in savings.
For further detailed advice about your particular circumstances speak to one of our Professional Independent Medical Aid Consultants, with their help you can be assured of choosing the Best Hospital Plan in 2017.
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