There are over 8 million people in South Africa who have medical aid policies, and this represents just under 20% of the entire population. These policies are split between over 100 different schemes, some of which are public, and some of which are private. If you are one of those people who does not yet have a policy, or you have one and are thinking of changing it, then it is advisable that you start making a medical aid comparison spreadsheet.
Why a spreadsheet you might ask? Well, the reason is, that a spreadsheet is the best way to keep track of all the details and prices that you will come across whilst you gather medical aid quotes. This way, you can objectively look at the data in front of you, and not be swayed by any fancy sales talk.
You will need to lay the spreadsheet out so that you can read it easily. A suggestion would be to have four column headers, which would be website, good points, bad points and price. This way, you could sort the prospective policies by price if you should so desire, whilst always being able to see the most attractive and negative aspects of each one. Setting up a medical aid comparison spreadsheet would take less than five minutes, and is a good way to collate the information that you gather.
How you go about gathering the information is also important. Many websites will say that they are medical aid comparison sites, but invariably, they only come back with one policy offer. This means that you don’t see what the others have to offer. A way around this, is to visit the websites of all the major medical aid providers, and use their in house quoting systems.
When looking for a good medical aid policy, it is important to remember that you need to find the one that is most suitable for you. For example, the needs of a heavy smoker in their late-forties will be very different to those of a twenty something sports player. As an aside, in the past some people were denied access to medical aid. This is no longer the case, though, and legislation has been introduced which ensures that everyone that wants it can have it. There are, however, facilities in place to put people into categories, with some categories paying higher premiums than others.
Prices for policies per person can start from R400 per person per month, but at this lower end, there may be limits in regards to some of the upper end medical procedures. It is always worth checking the finer details to make sure exactly what a policy does and does not cover. This is even the case with comprehensive policies, which cover not only hospital expenses but also so-called daily expenses such as dentists and local doctors. These comprehensive policies can prove popular with families.
A couple of hours spent in making a medical aid comparison spreadsheet may prove to be time well spent indeed. It will give you a chance to better understand the concept of medical aid policies, how much they cost, and what exactly they cover. By choosing the best one for your personal circumstances, you will be giving yourself and your family peace of mind should you be hospitalised through sickness or injury.
It is always better to be prepared than to be caught out unawares, and should something unthinkable happen in regards to you or your families health, you will know that they will be seen to quickly, and that you will not face a catastrophic medical bill at the end of it all.