It’s no secret that having a medical aid in place in South Africa will end up saving you a lot of money during any kind of medical crisis. Medical aid is a form of insurance that you pay monthly for, for any medical related expenses- from doctors visits, to hospital visits, surgeries or medicinal purchases. We will highlight in this article exactly what a Medical aid does, bearing in mind that not all medical aid plans are the same.
What does Medical Aid do?
An important consideration when choosing a medical aid is knowing exactly how they work. Medical aid schemes are actually non-profit organisations, where individuals contribute and access money needed to pay for various medical expenses. This monthly amount that members pay is called a premium or contribution which is administered by the scheme.
Depending on the medical aid plan that you are on, you can claim for in-hospital treatment, day-to-day expenses like GP visits, dental treatment or medication, as well as screening benefits for certain diseases. Most Medical aid schemes usually have their own network of hospitals and other healthcare providers so it’s important to see where those networks fall within your area of residence
There are numerous Medical aid providers out there who offer various products to suit your budget and your daily needs. Make sure before you sign up that you have read through all of the important documents that they provide to make sure that you protect your loved ones from any potential illness or injury.
Who regulates medical aid schemes?
Medical aid schemes are governed by South Africa’s Medical Schemes Act and they are there to ensure that your rights as a member of a medical aid are protected and that you get access to healthcare when you really need it.
So, if you are on a Medical aid scheme which is registered with the Council for Medical Schemes in South Africa, then this is even more reason why you should get a gap cover policy in place. Gap Cover is there when there is a shortfall between what service providers charge and what your medical aid scheme will cover for in-hospital expenses.