Cannot afford Medical Aid?
Join a Hospital Only Plan.
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How an In-hospital Only Plan can provide you with comprehensive medical aid cover.
Frequently Asked Questions: Cannot Afford Medical Aid
1. Can't Afford Comprehensive Medical Aid?Consider joining a Hospital Only Plan. These plans offer extensive benefits for hospital admissions and chronic illness at a lower premium than comprehensive plans. You are addressing your greatest need for protection against high, unforeseen medical costs.
2. Worried About Immediate Access to Private Hospital?
A Hospital Plan gives you guaranteed and immediate hospital admission for emergencies. It will avoid you having to pay upfront co-payments or being referred to government hospitals.
Do you need Help with Day-to-Day Expenses?
You can create your own savings fund for day-to-day medical costs. Unlike scheme-regulated funds, where access to your funds is only allowed through the medical aid, you can use your own fund for other financial needs. And you can stop contributing to it if you have adverse financial pressure. You cannot do that with a medical aid savings account.
3. Looking for some day-to-day benefits with a hospital plan?
The Genesis hospital plans offer excellent in any hospital, and essential dentistry benefits, all in a hospital only plan. This meets your need for protection from the two highest medical cost threats we face – private hospital and dentistry.
Medical aid is expensive and members are increasingly looking at self-funding their out-of-hospital medical expenses and joining a hospital only benefit plan.
But, that decision does carry some financial risk for you, especially when considering the significant cost of doctors, medicines, radiology and dental care - out-of-hospital.
The Importance of Medical Aid benefits
Prescribed Minimum Benefits (PMB) Cover: All medical aids, even in-hospital only plans, must provide cover for PMB benefits. These include 270 hospital procedures and 26 chronic illnesses. PMBs are essential for conditions with life-threatening implications that may be left untreated.The danger of paying your own medical costs: Choosing to pay your own medical costs is a great financial risk for you.
You have no idea when you may need hospitalisation, nor how much the total cost may be.
Because of this, you need to have sufficient funds in an easy-to-access fund, and this can take some time to build up.
You are also using valuable monies that could be invested for other financial needs, like a pension fund.
Your greatest risk of high-cost medical expenses lies in private hospitalisation. You must "insure" against these.
Joining an affordable in-hospital only plan and either paying for out-of-hospital costs as you go, or creating your own savings fund, is an attractive option to consider.
Immediate Admission with a Hospital Plan
If you need emergency or casualty care and do not have a medical aid, you face substantial upfront payments.If you cannot pay those, you can be refused treatment or referred to a state hospital.
What happens if you need a hospital after hours?
A medical aid, even if it is only a hospital plan, guarantees immediate access to the best, private medical care.
Late Joiner Penalty
Any delay in joining a medical aid, results in a progressively higher penalty. This is a result of the Late Joiner Penalty, prescribed by law.
Members joining a scheme, after the age of 35, face a late joiner penalty based on the number of years of prior membership you may have.
This penalty is levied monthly and lasts for life and could be as high as 75% per month!
So, best join today, if you have not yet done so!
Create your own day to day savings fund
While most medical schemes offer a day-to-day savings fund, their use is regulated by the scheme.
Savings balances cannot earn interest and can only be spent on medical expenses.
You cannot withdraw any monies unless you leave the medical aid.
Creating your own personal savings fund provides you with a fund that can help meet unforeseen day-to-day medical costs, in addition to any other financial need you may face.
Although medical aid provides a year's savings upfront and starting your own fund takes time, the advantages of having your own savings are considerable.
If you can afford to pay for your own day-to-day costs (through your own savings) and accept the small risk of self-funding whilst your savings grow, then joining an in-hospital only plan makes sense.
The Genesis Med 200 plan offers you the best benefits:
- Comprehensive benefits for hospital admissions, ward expenses, theatres, diagnostic tests, radiology and medications at double the medical aid rate.
- Major medical conditions like cancer and kidney ailments.
- Diagnostic scopes
- General practitioners and specialists
- Essential dentistry benefits including oral examinations, fillings, extractions, X-rays, root canal treatments, and more.
- Freedom to choose preferred hospitals, doctors, or medical specialists without network constraints.
- Emergency pre-hospital treatment, evacuation and transport through the ER24, as well as a medical helpline.
- Chronic medication.
- Lower rates for children than with any other scheme.
- Genesis has in excess of 6 times the minimum solvency level required by the Medical Schemes Act.
- Consistent financial performance of the scheme, has resulted in Genesis having a very high claims paying ability. Put your concerns at rest, knowing that claims will be paid.
- Rated as one of the best value-for-money medical scheme benefit options in South Africa in the GTC Healthcare Consulting Medical Aid Survey.
- Lowest contribution increase of all open schemes for 10 consecutive years.
And best of all, affordable premiums from as little as R 2,255 pm!
Now you can take control of your medical aid costs and get the finest in-hospital and essential dentistry cover - all in one plan!
Private healthcare providers can charge up to 500% of medical scheme rates.Medical aids add procedure co-payments as well.
These are significant costs you must consider.
Protect yourself by joining Zest's GAP or top-up insurance plan.
This separate insurance will cover most in-hospital claim shortfalls and any co-payments. It is a vital safety net, ensuring you have enough to cover medical treatments, without having to pay for unexpected costs.
Protect yourself from soaring medical expenses by bridging the gap between medical scheme rates and the charges imposed by private providers.
Specialised Dental treatments can be extremely expensive!
The costs of braces, root canal, implants and so on, can run into thousands of rand. Most treatments are done out-of-hospital, and are paid from your savings.
That can result in less money available for other medical needs and family limits being used on one member only!
Dental treatment is something we all need and it is vital you consider the Best Dental Insurance Plan
OR Most Affordable Dental Plan in South Africa.
No Medical Aid or have a Hospital Plan only?
This plan will help you meet the high costs of both normal and specialised dentistry!
Talk to me .... I am here to help you - at no charge!
Send me your questions and concerns. I'll answer them for you.
083 655 2164
You must consult the schemes/company product brochures and rules for comprehensive benefit descriptions.
Medical aid pays healthcare costs.
What if a disability stops your income?
YOUR TRUSTED, QUALIFIED ADVISOR:
Peter Pyburn - Authorised Financial Services Provider, fully licensed to render financial services since 1991.
Death, Disability, Retirement, Investment, Healthcare and Estate Planning.
FSP Licence 2995 and Medical Aid Accreditation BR 7428
Based in Sandton.
Council of Medical Schemes
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