Hospital Plans versus Comprehensive Medical Aid

    The rising cost of living has seen a great increase in the number of South Africans opting for Hospital Plans versus Comprehensive Medical Aid.

    Clients often pay way more for medical aid; they see it as an expensive luxury that is out of the reach of most families.

    Stand-alone hospital plans, on the other hand, are much cheaper.

    Hospital Plans

    While it may only provide cover when admitted to the hospital, fees for these plans are far lower than those for medical aid.

    Albeit, they do not provide any daily benefits. Hence, brokers suggest this option for people who are younger and healthier.

    Further, in recent times, people are more willing to self-manage their daily health care costs such as out-of-pocket expenses for visits to doctors, dentists and pharmacists.

    They can also manage their family health care needs with Medical Savings Accounts (MSAs) or medical debit and credit cards.

    Hospital plans also give them more hands-on control over their health care spending.

    Hospital Plans Versus Comprehensive Medical AidIn reality, hospital plans are no more than entry-level health schemes that offer cover for treatments with none of the frills of extra perks.

    People thinking about getting a hospital plan are advised to acquaint themselves with all the terms and conditions of the fine print before choosing any specific product.

     

    For example, some hospital plans only cover certain treatments.

    They may also only cover members for overnight stays in hospitals.

    Reminder

    There are some cheap gap cover options that will pay the difference between health costs and what hospital plans pay.

    Hospital Plans versus Comprehensive Medical Aid

    Medical aid is expensive and viewed as a luxury, only affordable by the rich.

    This form of insurance covers both in-and-out-of-hospital treatments.

    Albeit, while health schemes pay 100% of hospital costs, they may not pay out as much as experts charge.

    Conclusion

    Hospital plans are a much cheaper option for most South African families.

    Members can manage their budget by using medical savings accounts.

    Albeit, members who have poor health and require more health care, should opt for medical aid.

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