As soon as you begin a search for a medical aid plan You become overwhelmed by the array of choice. Different names, different commercials, a slew of attractive websites to browse and glossy brochures to skim through. But how should a savvy consumer cut through all of this ‘fluff’ to find the medical aid plan that really is right for them and their family? Here are ten important points top consider when making this big decision:
Tip 1 For Choosing a Medical Aid Plan
Consider – How Healthy are You?
Many younger, generally healthy people will be fine if they opt for a hospital only plan and then pay for that annual GP checkup for themselves when the time comes. Those with a chronic condition – diabetes for example – would probably be very unwise to that. And even some of those healthy folks need to take a second look at their options. For example, if you are a glasses or contacts wearer, including an optical benefit in your medical aid plan may end up saving you a lot of money.
Tip 2 For Choosing a Medical Aid Plan
Take a Hard Look at Your Finances
Full medical cover can be expensive, and if you really can’t afford it that is simply the way it is. Draw up a budget and then decide upon a figure you can realistically afford to pay and stick to it when researching your medical aids options.
Tip 3 For Choosing a Medical Aid Plan
Look at the Real Costs
Before you opt for any particular medical aid plan take a little time to add up the potential costs of what is not covered before you opt for a cheap plan that seems to better fit your budget. For example, if you have children their visits to the doctors, dentists and opticians over the course of a year may end up costing more than a slightly more expensive medical aid plan would have done.
Tip 4 For Choosing a Medical Aid Plan
Pay Close Attention to the Table of Benefits
Don’t ever assume that all medical aids plans are the same or that they all cover the same things. Take the time to look past the sales copy and the great photos and scrutinize the table of benefits carefully to make sure you know exactly what you will be getting for your money.
Tip 5 For Choosing a Medical Aid Plan
Check Those Hospital Limits
Every plan that offers hospital benefits will also have limits attached to them and you need to ensure that you know what those are before you choose one plan over another. For instance, if you and your family were all hospitalized at the same time (a road accident perhaps) would the maximum benefit offered by a plan cover enough of that expense? Ring around a few hospitals and ask about average costs, they may be rather different than you imagine.
Tip 6 For Choosing a Medical Aid Plan
Research any Exclusions in the Fine Print
Many medical aid plans do have certain exclusions that you have to dig deep into the fine print to discover. One common example is that if you are not switching from another plan and are newly covered in general there may be a number of benefits that you cannot claim for the first 90 days that the plan is effect.
Tip 7 For Choosing a Medical Aid Plan
Check Coverage for Chronic Conditions
If you suffer from a chronic condition you already know that your medical expenses are likely to be higher than the average person’s. But just how much of your treatment will be covered, especially if a worsening of your everyday symptoms necessitates a lengthy hospital stay.
Tip 8 For Choosing a Medical Aid Plan
Check the Scheme’s Payment History
The speed at which your claims might be paid is something that is probably rather important to you. Different medical aids do process and pay on claims at different rates but this is not information you are going to get from them. Try asking the staff at your GP’s office though, they will probably be able to tell you which companies pay quickly and which have a tendency to drag their feet.
Tip 9 For Choosing a Medical Aid Plan
Check the Scheme’s Potential Solvency
As we mentioned in the beginning there are a lot of different medical aid plans out there and new ones pop up all the time. Before you opt for a certain plan investigate the company a little. How long have they been in business, who are the principals? How many people are already enrolled?
All of this information goes to a company’s potential solvency and it is important. Why? Simply because you do not want to find that the plan you have been paying into has suddenly gone bust while you are laid up in the hospital with a broken leg do you?
Tip 10 For Choosing a Medical Aid Plan
Consider Consulting with an Independent Broker
Still struggling to decide which really is the right medical aid plan for you? Then an independent broker might be a big help. These individuals get paid no matter which company you opt for so they have no reason to ‘push’ one plan over another, so can give you an informed, but objective, opinion.
Tip No 10 is perhaps the Top Tip. An independent broker costs you no extra money and you will benefit from years of experience of dealing with all the medical Aids. These people know the best Medical Aid to suit a particular type of client. The Medical Aids change their rules all the time, the best way to be kept up to date is to employ the services of a Medical Aid Consultant. Talk to one of the consultants at Sweidan on 031 267 5060 or click here to learn more about Sweidan and Co’s medical aid product offerings or here to fill in a form and request a call back.
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