Choosing a medical aid can be difficult with so many different options available, but knowing the top five medical aids in South Africa might make the job somewhat easier.
Everyone requires medical assistance at some point in their lives and the costs are usually very high. Even a hefty savings account could be too little to cover a serious medical emergency and should you develop a chronic illness, the medication would be a regular cost which you might not be able to afford. If you have children you definitely want to look after their health in the best possible way. Applying for medical aid is a responsible choice in a world where accidents happen indiscriminately.
There are many medical aid schemes available and each has different processes, ways of doing things and options for the client. The best medical aid for YOU is really dependent on your specific needs and the needs of your family, but a list of those considering the top medical aids in the country could be helpful to narrow the list down.
According to a survey by independent rating company Global Credit Rating, the top five medical aids in terms of their ability to pay claims are:
- Discovery Health Medical Scheme
- Fedhealth
- Bonitas Medical Aid Fund
- Oxygen
- Spectramed
Discovery Health Medical Scheme is arguably the biggest and most well-known medical aid and it has the extra benefits of the Vitality Club, which allows the user discounts on gym membership, healthy food and fees on certain sporting events.
According to health professionals in the industry, Gems is another large and well-known medical aid. Although it is not on Global Credit Ratings list, it is the only scheme in the country big enough to compete with Discovery Health Medical Scheme.
Choosing your medical aid
These top medical aids might narrow down your options from the many different companies available. Do some research on each scheme and have a look at what they offer and how they do things. Also, ask family, friends and acquaintances about their medical aids and how happy or unhappy they are with their schemes. You might receive some useful advice about which companies to avoid and which have better track records with their customers.
When you have done this, you should think carefully about what your and your families medical needs are and, of course, how much you can afford to spend on a medical aid scheme. Talking to agents from medical aid companies you are interested in is also a must. They will usually come to you if you make an appointment and you can discuss your needs, what you can afford and the benefits and downsides of each scheme.
When you do start looking at one specific option, things to look for when deciding which medical aid to choose include:
- Their day to day benefits
- What their hospital cover includes
- The chronic medication they cover
- The premiums that you would have to pay for the benefits that you need
Other options
If you do not require day to day benefits and medication, you could consider a hospital plan. Hospital plans are considerably cheaper than most medical aid options and only include hospital cover for emergencies. This is the perfect health insurance for you if you are not a sickly person and if you only really want peace of mind from the expense of emergencies. However, if you do visit the doctor often or require certain medications, a hospital plan is not suitable for you and you should definitely rather choose a medical aid plan.
Whatever your needs are and whatever you are able to pay, there will be a medical aid scheme or hospital plan that is right for you and your family. Knowing who the top five medical aids in South Africa are will give you a good base from which to start your search.