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Question

15 Jan 2004

Some advise please...

Good afternoon...

I am wondering / hoping you may give me some advise please.
I am a 23 year old single male, no kids or anything of that sort and I live by myself in a rented apartment.

Could you recommend a good medical aid for me... without all the bells and whistles which cost me a fortune! But also good enough should i be in involded in an accident i can be rest assured that i am covered and safe!

I do have a hospital cash plan at the moment which will give me R800 a day if i am in hospital and i am paying about R98 or so for this...

Any feed back would be much apprecaited!

Thank you!
Me.
Answer 355 views
Expert
medical money

01 Jan 0001

I presume that when you say you do not want bells and whistles you are looking to have something that covers primarily the major hospital events. If this is the case then your required solution is a type of hospital plan, offered by most schemes. There are at least two medical schemes that offer a coastal hospital plan (Discovery and Omnihealth), which is primarily for those who live in coastal areas. In the coastal plan you can expect to pay a lower contribution because the cost of the procedures in the coastal hospitals are generally cheaper than the inland hospitals.

I presume you want to retain the existing insurance hospital plan you have, and if that is the case you could reduce the cost of your medical scheme hospital plan further by selecting one that has a levy or excess payable by you. Even though you have to pay the first Rx per day of the hospitalisation, besides not affecting the quality of your hospitalisation plan your insurance hospital plan will provide the top up cover. Just make sure the amounts are similar.

If you are looking for your medical scheme to cover day to day benefits, like visits to the doctor and dentist then you will be looking at a considerably more expensive product. You must remember though that while many schemes offer these benefits, claims are actually paid out of your savings account – which is your money, so it is not really a benefit at all. Not many schemes provide comprehensive cover for day to day benefits out of the main risk pool of the scheme, as opposed to your savings account.

I know you do not want bells and whistles, however if all the schemes look pretty similar then sometimes the bells and whistles may look attractive and seal the deal – but what ever you do, do not make your decision based on the bells and whistles, there is no such thing as a free lunch. Remember your objective is to secure the best medical healthcare available at a price you can afford.

It is probably about the right time for you to consult a financial advisor that can provide you with more in depth insight based on you detailed financial situation, and thereby help you select the correct plan to suit your needs. A comprehensive list of accredited brokers in your area is available from the council of medical schemes web site, www.medicalschemes.com
The information provided does not constitute a diagnosis of your condition. You should consult a medical practitioner or other appropriate health care professional for a physical examination, diagnosis and formal advice. Health24 and the expert accept no responsibility or liability for any damage or personal harm you may suffer resulting from making use of this content.
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