Achievers Health After School
Medical cover is definitely something to consider
If you are lucky enough to have been on your parent’s medical aid in your adolescence, you’re most likely going to be taken off once you’ve turned 18.
And if you’ve never been on any medical aid or have had any medical insurance, you’re going to need to work out which option will best suit your lifestyle and needs. Here are brief descriptions of what medical aid and medical insurance are and for whom, each option, would suit best.
Medical Aid
There are a variety of medical aid plans that each covers only specific medical-related costs and not others. Usually, the most comprehensive options are very expensive. Most people want the cheapest medical aid rates, with most extensive cover. However, medical aid plans that cover you fully are usually very costly.
There is always a minimum set of benefits in any medical aid plan, such as in-hospital treatment and treatment of chronic conditions, but if you’re on a more comprehensive medical aid plan, you can also be covered for medical expenses such as GP visits, dental treatment and prescribed medications. Medical aids may not offer funeral cover and day-to-day cover is limited or dependent on your medical savings account.
Medical aid plans can cover chronic ailments and chronic medications you may have always needed even before being on the scheme. But, many medical aids have waiting periods you will need to look out for.
These can be anywhere from three months’ general waiting period where no medical expenses are covered to a secondary waiting period where you’re not covered for any pre-existing conditions for up to 12 months.
Medical aids are usually for those who have secured jobs and usually have a family they can include on the plan as well.
Medical Insurance
This option does not cover pre-existing ailments but is beneficial in the case of accidental injuries, paralysis or illnesses that may occur after you have taken out the insurance.
This means that if you are covered by medical insurance and you experience a life-threatening misfortune, the insurance company you have opted to be a party to, will cover the medical fees. Medical insurance may even offer funeral cover and HIV counselling.
Medical insurance:
- Covers certain accidental injuries such as disability
- As a result of an accidental injury can cover your salary when you’re unable to work
- Covers health events at fixed or stated amounts paid directly to the member.
Depending on the insurance plan you have chosen and the company too, your insurance will only cover a certain amount, all costs above this amount will need to be covered by yourself. Medical insurance offers a variety of premiums allowing almost anyone the opportunity for cover. If you’re concerned with affordability and only need a certain level of cover, then medical insurance would be the best option for you.
Keep in mind that when you apply for medical aid or medical insurance most companies will require that you do a health examination and questionnaire to determine your lifestyle health-wise. This means that if you live a healthy lifestyle you can get better premiums than if you live an unhealthy lifestyle. For example, routine exercise and healthy eating may lower your premiums whereas drinking alcohol and smoking may result in higher premiums. So be sure to stay healthy! There are plenty more benefits and disadvantages to both medical insurance and medical aids, there are also plenty of different service providers that offer different plans. The best course of action will be to do your research to find the best suitable plan for you.
