Many of us may not quite understand the difference between Medical Insurance and Medical Aid.
We hear these terminologies bandied about all the time but may still be unsure of what they actually mean.
Medical Insurance insures individuals against the risk of incurring medical expenses and is governed by The Financial Services Act.
Features of a Medical Insurance
- More affordable than medical aid
- Used as preventive service with day-to-day benefits and generally limited specialist services
- May be used in conjunction with medical aid
- Covers certain accidental injuries
- You mostly pay one set premium for the whole family
- Gives you the option of including death and/or funeral cover
- Covers treatment at fixed or stated amounts paid on behalf of the member
- Offers stated benefits
- May or may not cover Prescribed Minimum Benefits.
Medical Aid, governed by The Council for Medical Schemes, is a plan that allows you medical care without financial burden should something unexpected happen and you need hospitalisation.
Features of a Medical Aid
- Cover is based on tariff codes and procedures
- You pay a premium per member or beneficiary
- Often has a shortfall due to the difference between the National Recommended Price List and the South African Medical Association rates which is what healthcare professionals charge
- Must, by law, cover Prescribed Minimum Benefits
- Has specified and yearly limits for procedures and health events do not need to be specifically stated
- Does not include any personal accident disability and loss of limbs cover
- Is not authorised to include death and/or funeral cover as part of the Medical Aid Scheme
- Pays in-hospital benefits according to the National Recommended Price List limiting benefits as per the plan
- Regulated by the Medical Schemes Act
The Advantages of Having GetSavvi Health Insurance
- Our fees are more affordable to the average South African family than our competitors.
- The more essential products and services are bundled for your convenience.
- All our plans cover you, your spouse and unlimited children.
- There are no upfront or admin fees.
- You don’t need to go for a medical examination before sign-up
- Our products and services are of the highest quality.
- Application is simple via our website in three easy steps or by telephone in under 15 minutes.
- Includes Hospital Plan with emergency stabalisation and personal accident benefits.
- Includes basic dentistry and optometry benefits.
Take control of your family’s health needs and join GetSavvi Health today. To find out more about our healthcare insurance plans and their prices, simply click here, fill in the form and a consultant will be in contact soon.