Finding the cheapest Hospital plan you can.

Many people today battle to make ends meet. And their high medical aid fees don’t help either. What they need is the cheapest Hospital Plan available.

A lot of members also want to cancel their medical aid contracts but realise that they need some kind of medical cover.

Even the Cheapest Hospital plan is Better than No plan

A hospital plan allows you to make use of their services such as doctors and anaesthetists. It also pays for 270 PMB’s as well as 26 chronic conditions. This type of plan at least provides you with basic medical cover and is ideal if you are still young and healthy. These days everyone is looking for health care they can afford.

However, apart from the benefits, a hospital plan does have some restrictions you need to be aware of. Otherwise you end up paying extra.

The cheapest Hospital plan and What you Need to Know

• If the plan states 100% of fund, it doesn’t mean your hospital bills are covered in full. Always look for a plan that covers you for 200% of the scheme rate and add in Gap cover.
• The plan makes use of Network hospitals  – If you prefer not to use a network or you don’t have an admission number, your plan may not cover you at all.
• Some plans may ask for a co-payment on non-network admissions. This can run into a lot of money.
• The rise of depression and other mental illnesses means visits to a psychiatrist. On cheaper plans an allowance for this can be very low. Also, treatment may not go beyond 21 days. This means that if there is more than one member in the family who suffer from this problem, the amount you get isn’t going to work for you at all.
• Oncology cover – There are some cancers which aren’t PMBs. Many cancer patients are day patients, and hospital plans often have a fixed amount for treatment. It could be too low for you as some cancer treatment can run into thousands of Rands.
• MRI and CT scans – These are needed to diagnose your illness, and most hospital plans don’t cover these unless specified. Some plans will only pay for certain CT scans and  MRIs.

The Ups and Downs of The cheapest Hospital Plan

Many people are prepared to go really cheap on a hospital plan to avoid the death traps known as state hospitals. However, the reality is that the more expensive plans provide higher benefits. But it’s no good investing in a costly plan and finding that you can’t pay your monthly fees.

Hospital plans start from about R600 a month, although you can find cheaper rates at about R350 a month. It is important you understand what you’re signing up for. This is where the help of a broker can benefit you. By law, they have to explain all the details in depth so you can make sound financial choices.