Medical Cash Back Cover
South Africans in 2016 have to brace themselves for higher interest rates, rising VAT, higher food prices and in fact higher everything. Millions of people are desperately trying to find ways to eke out a living, cutting back wherever they can. Looking at ways to cut costs, medical cash back cover is worth investigating, but for starters, it is not to be confused with a medical aid hospital plan.
Medical Cash Back Cover – The Self Employed and Hospital Cash Back Plans
Medical cash back cover, also known as a hospital cash back plan pays you an amount for every day that you are in hospital. Hospital cash back cover is of particular value to the self employed person who knows too well that days spent in hospital means no money coming in. Loss of
income is bad enough, but having to pay for a stint in hospital without a hospital plan in place can simply mean the end of your business and you having to sell off what you have to find the money to pay for your medical bills in hospital.
Research the different hospital plans carefully because some people think a hospital cash back plan will have the same benefits of the in-hospital medical aid cover, but this is not so. Many consumers unwittingly sign up for hospital cash back plans because they think they are the same as hospital plan medical aid.
Hospital cash back cover is an insurance policy. It will pay the beneficiary for each day they are in hospital. Because of this there are many scams going on with collusions between patients and doctors, where patients take extended stays in hospital even when they have completely recovered. A hospital cash back plan is for someone who is incapacitated, and the payout is not intended for someone staying on once they have recovered just so they can benefit from the daily cash payouts.
Medical Cash Back Cover – Hospital Cash Back Plans are Affordable
The prices with hospital cash back policies will vary according to the kind of benefits you want. Each insurance provider also has different rates and prices also vary between individuals and family cover. The Clientele Hospital Cash Back Plan for instance is only R125 a month and they will pay between R350 and R3,000 per day from the 3rd day on. You also get ICU benefits, maternity benefits and cash back after every 60 premiums paid among others.
Most of the hospital cash back plans will pay for HIV, pregnancy, chronic diseases and pre-existing illness, but even so policies vary between different companies and pre-existing cover for instance may well be subject to a waiting period. Women who are already pregnant too won’t be covered for the existing pregnancy but will receive benefits for a future pregnancy.
The obvious question on the lips of people looking for medical cash back cover is which plan is the best one? It goes without saying that hospital cash back plans that are credible, that offer the most affordable premium rates, the most benefits and the best claims process will be the one that everyone wants.
Medical Cash Back Cover – Protection from Unforeseen Costs
Hospital cash back plans protect you and your family against all the costs relating to hospitalisation, costs that would break you financially if you didn’t have a plan in place. Just make sure you request hospital cash back plan quotes from reputable sources such as Hollard, Sanlam, Discovery, Clientele and others.
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