Medical Aid costs are a necessity and can be one of the more costly monthly expenses for the average consumer. Despite the high costs, consumers still rate the health insurance industry an impressive 74.2% when it comes to client satisfaction, according to the South African Customer Satisfaction Index (SAcsi)1.
The survey was conducted with 2105 private Medical Aid policyholders across three types of medical plans of which comprehensive Medical Aid cover scored the highest in terms of customer satisfaction.
Hippo.co.za, the free-to-use website that also compares a range of medical insurance products, provides a summary of the three different covers consumers can choose from:
Comprehensive Medical Aid:
This covers you for day-to-day medical expenses such as visits to the doctor, and prescribed and over-the-counter medication. Some comprehensive Medical Aid plans include chronic medication, dentist consultations, radiology, treatment for trauma, immunisations, early detection tests and some maternity benefits. Compare from a number of comprehensive plans to ensure you are fully covered for your day-to-day medical needs.
This entry-level Medical Aid plan covers you for in-hospital treatment and depending on your plan, can include some limited day-to-day costs. Hospital plans typically include cover for hospitalisation due to illness or treatment after an accident, surgery, theatre and anaesthetics and procedures and materials used during your stay. Although entry-level options are the least expensive, consider carefully which additional benefits you may need before opting for the most basic cover.
Medical Gap Cover:
In most cases, members have a shortfall between what the medical scheme pays and the actual cost, because the service providers are entitled to charge more than the tariff rate. The shortfall then becomes the member’s responsibility and he/she will therefore need to have additional cover in these circumstances. Some hospital and comprehensive medical plans offer cover at 100%, 150% or 200% of the medical practitioner tariff rates, while the actual costs could be more than 400% of tariff rates. Medical Gap Cover will cover the difference between what your medical scheme is willing to pay and the actual cost of in-hospital doctor’s bills up to a maximum of 500% of tariff.
Derek Wilson, Head of Hippo.co.za says, “One way in which people are able to save on Medical Aid cover, is by comparing prices and benefits from a range of South African Medical Aid providers before they buy new cover or switch from their current provider to a better deal”.
Hippo.co.za offers a free-to-use, quick and easy online Medical Aid comparison service, which allows consumers to view the monthly premium and Medical Aid benefits across a range of different providers such as Discovery Health, Liberty, Resolution Health, Momentum, Medihelp, KeyHealth, Profmed, Bestmed, Bonitas, TopMed, Spectramed & Fedhealth.