My son is a great believer in the healing power of plasters. And when he hurts something, picking “the right plaster” can be a serious affair. Apparently, the thin white ones with flowers on them work better for skinned knees, while the thick brown ones work best for arms and elbows.
When I had to choose my first medical aid, the process felt similar to his plaster selection. There are so many complex things to get to understand, and some of the terminology seems to require a law degree to decipher. So how do you choose the best medical aid for you to be on, from this jungle of foreign and complex information?
For the majority of consumers, the two primary objectives are affordability and having the cover that fits your needs. A 60-year-old diabetic, for example, would require being on quite a different medical aid option from a mountain biking 21-year-old with no chronic illness.
Why not break your search down into simple questions (let’s use a young, active member as an example):
- Since I am young and not suffering from a chronic illness, would I be happy to pay the lower contribution of a medical aid option that does not have extensive cover for chronic conditions? For example, I may have to get chronic medication from a State facility if I do develop such a disease, rather than from a private facility (keeping in mind that you would be allowed to change options once every year in line with changes to your healthcare needs)
- And, seeing as how I do not frequently visit doctors and hospitals, would I be able to receive a further discount on my medical aid contribution for selecting to use doctors, pharmacies or hospitals from a specific list of providers? Leading medical aid schemes have agreements in place with healthcare providers that can save you up to R1 000 per month on your contribution (this example is from Momentum Health’s Custom Option). And these are not second rate providers, in fact, they have to adhere to strict performance criteria in order to be part of the network agreement
- As an active, sporty person, why not choose to belong to a medical aid that gives me access to programmes that reward me for being active? In the case of Momentum, a family can earn up to R3 000 per month by burning calories or going to the gym frequently.
- As a young person starting out on my journey to success, why not choose to join a medical aid that partners with a group of companies, where, if I have more than one product, I can also pay lower car and home insurance premiums or get discount on life cover at the same time?
At the end of the day, considering that choosing medical aid is not a simple process, consulting a financial adviser with whom you can partner for life would give you access to advice that will make this decision, and those that flow from it, much easier to make. Plus you will have someone on your team that has the knowledge to let you know about important changes and how they will impact on you over the years to come.