Choosing the right Medical Aid Plan

December 1, 2015
Posted by: Morne Visser

Finding the right medical aid plan is a balancing act

We often look at our budgets first when deciding on a medical aid plan. But in reality it’s a balancing act between your healthcare needs and your pocket. It is essential that the plan or option you select is able to meet the unique needs of you and your loved ones.

Start off by looking at your healthcare needs

A quick personal healthcare needs analysis will help you determine what level of cover you need. If you’re going to have dependents or beneficiaries on your plan, you’ll need to check that their needs are covered too. Consider how much you and your family have spent on medical expenses for the last year to help you.

Ask yourself:

  • How often do you and your family visit the doctor?
  • Do you and your family require medicine often?
  • Do you or your dependents need to visit a specialist or gynaecologist?
  • Do you and your loved ones need extra cover for cancer, renal dialysis, HIV AIDS or any other condition?

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Look at your medical claims and expenses over the past few years

If you find that you haven’t claimed at all or have had few medical expenses and are unlikely to claim unless a major medical emergency then you will require a low level of coverage. If, however, you find that you have incurred a mountain of medical expenses then you will require a higher level of cover.

Decide if you want to work with a network of preferred providers

Some plans require you to use a specific GP and hospital network or a selection of preferred providers. This helps to keep your costs as low as possible, however, it can be difficult to stick to the network. If you would prefer to have freedom of choice and use any provider you choose, you may need to opt for a more expensive plan.

Get professional advice

A financial advisor or broker will help you to determine which plan best suits your needs and is most affordable for you. If you need help getting in touch with a broker, enter your details and click get advice on our homepage. You can also use the Find a Plan tool to help you.

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