Managing Your Medical Aid, Plus 5 Ways to Minimise Expense

Managing Your Medical Aid

Paying a monthly contribution to a medical aid scheme enables you and your family access to high end health care. These days, new generation medical aid schemes demand that you, the consumer, be more active in managing day-to-day medical expenses.

Although medical aids in South Africa offer a portfolio of products that range from basic hospital plans to premier all-in medical aid packages, countless members run out of medical aid cover long before the end of each year.

Day-to-Day Expenses the Biggest Financial Drain

One of the biggest financial drains, often overlooked when selecting a medical aid plan or package, is day-to-day expenses. Many of us are more inclined to opt for plans that cover in-hospital emergencies, while ignoring the real cost of over-the- counter-meds, outpatient procedures - MRIs, X-Rays, blood tests, minor surgeries - and dentist, physiotherapist, optometrist and doctor consultations.

Medical Savings Accounts

A relatively new innovation imported from first world, developed economies is the medical savings account, a concept that has been carefully modified for South African health care conditions.

A percentage of your medical aid contribution, not exceeding 25 percent, is deposited upfront into a medical savings account, which is used to fund your day-to-day expenses. Once the fund is depleted, however, you’re on your own until the beginning of the new financial year.

Medical Expenses Management Tips

One way to avoid the stress of insufficient medical aid funds - which usually occurs when you need high end medical care in a hurry - is to manage your medical costs more efficiently. 

We have collated a number of handy hints that should allow you to preserve your medical savings account funds for the entire year:

1. save by paying cash - many medical service providers offer discounted rates on health care products and services when paying in cash.
2. avoid unnecessary consultations and maintain optimum good health through regular exercise, better lifestyle choices and a balanced diet.
3. ask your pharmacist for cheaper generic equivalents of prescription and over-the-counter medications.
4. enquire about the various management programmes offered free by leading medical aid schemes including oncology, hospital and medicine, HIV/Aids, renal and maternity management programmes.
   
5. remember to inform your medical aid of any chronic medication/s you may require, it will allow you unlimited access to chronic cover benefits.

Online Medical Aid Comparison  

Compare ‘out of hospital benefits’ offered by top medical aid schemes in South Africa to ensure you have sufficient funds for those punitive day-to-day medical costs.

Medical aid comparison websites offer a quick and easy independent analysis of the leading medical aids in the country, together with instant online medical aid quotes.

Don’t be caught short again this year, visit an independent medical aid comparison website and select the medical aid package most suited to all your health care requirements.