How to Create Your Own Fedhealth Medical Aid Plan.
- 1. First, you choose a plan that best suits your needs.
- 2. Then decide on an option to pay lower a contribution by choosing between two discounts.
- 3. Next, YOU choose how to use and control your day-to-day savings fund.
- You choose how you want to structure your savings account!
- 3 Steps to Create Your Medical Aid with Fedhealth:
FACT : the 2 greatest areas of financial risk from high medical expenses are private hospitalisation and dentistry costs.
FACT: If you have the ability to manage your own medical aid, you have the potential of saving premium.
FACT: There are plans that address both these areas!
The one size fits all medical aid is really expensive!
However, Fedhealth gives you the ability to structure your medical aid and therefore how much you pay.
There are 4 core plans to choose from) that provide you with in-hospital benefits, chronic benefits, screening benefits day-to-day benefits and additional benefits. All core benefit bundles come pre-packed with value-added benefits paid from Risk, not from savings.
You then choose the type of day-to-day savings fund that you prefer.
For young people who are single, in a relationship or just married. An affordable hospital plan with day-to-day savings that gives you solid medical aid cover at a great price.
- Unlimited network hospitalisation.
- Unlimited maternity cover at cost with network GPs and specialists.
- Network GPs and specialists are covered unlimited at cost.
- Non-network GPs, specialists and other healthcare providers are covered up to 100% of the Fedhealth Rate.
- Unlimited cover for 26 chronic diseases as listed on the Chronic Disease List (CDL).
- Includes the tests and healthcare assessments that ensure that your health is on the right track.
- Savings for day-to-day costs.
- Safety net when savings used and claims add up to a certain amount of unlimited GP visits at nominated network GPs and preventative dentistry benefit at a contracted dentist including x-rays, scaling and polishing.
Perfect family hospital plan and savings option if you’re just starting your parenting journey, with generous maternity and childhood benefits to give you extra peace of mind.
- Unlimited network hospitalisation.
- Unlimited maternity cover at cost with network GPs and specialists.
- Network GPs and specialists are covered unlimited at cost.
- Non-network GPs, specialists and other healthcare providers are covered up to 100% of the Fedhealth Rate.
- Oncology benefit of R290 400.
- Childhood illness specialised drug benefit for children up to 18.
- Unlimited cover for 26 chronic diseases as listed on the Chronic Disease List (CDL).
- Includes the tests and healthcare assessments that ensure that your health is on the right track.
- Savings for day-to-day costs.
- Safety net when savings used and claims add up to a certain amount of unlimited GP visits at nominated network GPs and preventative dentistry benefit at a contracted dentist including x-rays, scaling and polishing.
Ideal for growing families, with generous maternity and comprehensive childhood benefits to take care of your precious bunch.
- Unlimited network hospitalisation.
- Unlimited maternity cover at cost with network GPs and specialists.
- Private ward for delivery.
- Network GPs and specialists are covered unlimited at cost.
- Non-network GPs, specialists and other healthcare providers are covered up to 100% of the Fedhealth Rate.
- Oncology benefit of R290 400.
- Childhood illness specialised drug benefit for children up to 18.
- Unlimited cover for 26 chronic diseases as listed on the Chronic Disease List (CDL). Includes attention deficit hyperactivity disorder, depression, generalised anxiety disorder and post-traumatic stress disorder as well as Eczema, acne, allergic rhinitis for children up to the age of 18.
- Includes the tests and healthcare assessments that ensure that your health is on the right track.
- Savings for day-to-day costs.
- Safety net when savings used and claims add up to a certain amount. Comprises of unlimited GP visits at nominated network GPs and preventative dentistry benefit at a contracted dentist including x-rays, scaling and polishing.
Provides solid medical aid cover for more mature families whose kids are no longer toddling about.
- Unlimited network hospitalisation.
- Unlimited maternity cover at cost with network GPs and specialists.
- Network GPs and specialists are covered unlimited at cost.
- Non-network GPs, specialists and other healthcare providers are covered up to 100% of the Fedhealth Rate.
- Oncology benefit of R464 700.
- Childhood illness specialised drug benefit for children up to 18.
- Unlimited cover for 26 chronic diseases PLUS an additional 16 as listed on the Chronic Disease List (CDL) including eczema and acne for children.
- Includes the tests and healthcare assessments that ensure that your health is on the right track.
- Savings for day-to-day costs.
- Safety net when savings used and claims add up to a certain amount. Claims will be paid, with a 20% co-payment except claims for network specialists.
- You’ll enjoy unlimited GP visits from R1 on this option!
All plans (except flexiFED 1) cover hospitalisation at any hospital.
The ANY HOSPITAL flexiFED plan offers no additional discounted premium.
The GRID plans offer an full cover if you use listed hospitals for planned procedures (outside of an emergency).
There is an 11% premium discount for joining this option.
The ELECT plans offer full cover at any private hospital with a R 12,500 fixed excess for planned procedures.
Nothing for emergencies. This excess may be on top of the standard claim shortfalls and co-payments each plan carries.
There is a 25% discount when joining this option!
TIP: If you join the ELECT plans AND you have a Top Up plan, you will still save premiums over the Any Hospital plan - and have the excess, possible fee shortfalls and procedure co-payments paid!
This is a no-brainer to join!
Medical aids have a fund from which you pay all day-to-day costs.
They provide a pre-determined amount of money, available for you to pay your out of hospital costs and you immediately start repaying that over 12-months. A portion is added to your premium.
So, the savings account within a medical aid is really a “compulsory loan”, as from the start, you are forced to repay savings whether you use them or not! You have no choice.
Fedhealth feel this is wrong and offer you a revolutionary MediVault to pay for your day-to-day benefits.
You are allocated an amount of money that’s available, ready and waiting for you in your MediVault for day-to-day medical expenses. Only once you need it, you can transfer these funds from your MediVault to your Wallet, and only then will you start repaying that amount over 12 months or less.
BUT the choice is yours – if you prefer the old way, you can just transfer your entire MediVault at the beginning of the year, and it will work exactly the same as what you are used to with your old medical aid.
Like other schemes, they also make an amount of money available for you - but you only repay the portion of savings that you actually use – (not all of it) - once you start spending funds.
This is what makes the MediVault a game changer. Why should you pay for something you haven’t used yet?
How the day-to-day savings work...
If you have the ability to pay back only what day-to-day savings you have used,( interest-free over 12-months), opposed to a full repayment of the amount, you will reduce your total medical aid costs.
It is that simple.
If you do not use any day-to-day savings, you essentially have a hospital only benefit plan (with a lower premium than a comprehensive plan), but with a safety net that gives you access to instant and substantial funds to pay for unforeseen, day-to-day costs.
Now you meet all the FACTS mentioned above! But only Fedhealth gives you this ability!
The total premium you pay every month, is made up of two parts.
The first part is your hospital/risk cover and the second part is your contribution for day-to-day benefits.
With flexiFED, any amount of savings you spend and repay, is voluntary and at your discretion!
You have the ability to decide just how much you want to spend on your medical aid.
You choose the amount of day-to-day funds you want to use and only repay that portion when you spend it.
Repaid over 12-months interest-free!
If you do not use your savings, you keep your premium low! Yet you can keep savings there for when you do need it!
Again, why keep on paying for a benefit that you don’t immediately need?
The Medivault concept makes your medical aid an affordable hospital plan – the most important reason to have a medical aid in the first place – with the safety net of day-to-day savings that you control in case of unforeseen treatments.
You choose whether you prefer the control and upfront savings of the system through the FLEXIBLE repayment structure, or the familiarity and simplicity of the old-school FIXED repayment structure.Your Repayment Options ...
The FLEXIBLE repayment option.
You don’t pay for day-to-day benefits until you use them.When you pay from your savings, you then repay that amount used over the next 12-months (or less if you want to) and your premium increases - until the amount you spend is repaid.
Your premium then drops down again to paying only the “risk” portion.
FLEXIBLE members don’t pay for day-to-day benefits until you use them. This could save you thousands every month.
You pay less without compromising the quality of your cover.
You are in full control over how much you pay for your medical aid.
You will have one debit order each month – made up of your Risk/Hospital cover contribution and your MediVault repayments.
Any unused funds in your Wallet will transfer to the next year, so you won’t lose it.
Concerns:
- Your monthly premium can change with your use of the savings.
- You have to make the transfer of funds when you need them.
The FIXED repayment option.
Some people prefer the simplicity and familiarity of the traditional medical aid.This works the same way as all South African medical aid savings funds work.
Your full annual saving allocation is ready for use from the start.
Your premium, remains the same throughout the year.
You know how much you have in your fund for the year.
You will have one debit order each month.
Concerns:
- Your initial monthly premium is higher, because you immediately start repaying the savings.
- You have to repay the entire savings amount allocated to you, whether you use it or not.
- Unused funds do transfer to your next year.
The amount of savings in the FLEXIBLE option is greater than those in the FIXED option.
If you have higher than expected day-to-day costs, you can switch to the FLEXIBLE option at any stage, releasing additional funds for you to use!
You can “unlock” funds beyond your initial FIXED allocation and only re-pay what you use – not the full allocation.
NO OTHER SCHEME OFFERS THIS BENEFIT!
This is especially important to those who run out of the “traditional” savings during the year!
And remember only Fedhealth allows you to upgrade your plan at any time!
So, you don’t even have to join an expensive, high benefit plan today.
Join a lower option - safe in the knowledge that should you suffer a life-changing event, you can upgrade to a plan that will help you when you need it.
Buy the cover you need now, not on a “what if” basis like with other schemes!
Now you really control what your healthcare cover costs.
Your Level of Hospital cover - The Life Stage Plan Choice
This is the foundation of your plan and has 4 plan options as in the videos above.
You can upgrade your option at any stage should you suffer a life-changing event like pregnancy or dread disease diagnosis.
Choose what cover you need (and will pay for) today and not based on what might happen in the future - like you have to do with other schemes!All plans pay these listed benefits, meaning your savings will last longer:
- unlimited network GP visits.
- 7-days take home medicines.
- specialised radiology.
- female contraceptives
- pay for only 3 children
- child rates up to age 27.
- trauma casualty.
- 30-days post hospital treatment.
Your Level of Premium Discount
There are 3 variants to consider using:
- ANY hospital with standard premiums
- GRID Network Hospitals with an 11% premium discount
- ELECT any hospital and a set elective surgery excess with a 25% premium discount.
Make the most of the GRID and ELECT plans by joining a Top Up plan, which will pay shortfalls and co-payments on these plans.
Choose a Repayment option
If you accept a little extra admin when using your day-to-day savings, you can reduce your premium even more by choosing the FLEXIBLE option which gives you full control and flexibility in managing your costs.
OR, if you prefer to have Fedhealth do the savings administration and have the certainty of what funds are available at any time, along with your monthly premium you pay then choose the FIXED option.
TO SUMMARISE THE SAVINGS ...
On the Flexible plan you only start repaying the savings you use, when you spend them.
So, your next premium will rise by 1/12 of the amount you took from savings. This continues for a year till that amount is paid back – interest free. No savings use and your premium remains low!
This method has a substantially higher savings allocation.If the Flexible plan is a concern, then consider the standard Fixed plan – which works like other medical aids – where you have a set premium, irrespective of the savings you spend.
I am here to help you decide AT NO ADDITIONAL COST!
Fedhealth pay me a fee to help you join.
Let's see just what you can save on your medical aid costs.So for goodness sake use my service!
I want a quote2020 asked a lot you from you. Now it’s your time to get answers and start keeping your hard-earned money.
ASK “WHY?” other medical schemes make you take a more expensive option “just in case”, instead of letting you upgrade if something actually happens.ASK “WHY?” other medical schemes make you take a "compulsory loan" for your savings account - even if you seldom or never use it!
ASK “WHY?” other medical schemes make you pay for so much from your savings?
ASK “WHY?” other medical schemes do not allow you to control your costs?
Then ask yourself why you haven’t switched to Fedhealth yet.
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Last update: April 6, 2021
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Medical Aid Authority Peter Pyburn.
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