Essential Med Hospital Plan

    May 14, 2018

    The rising cost of living has seen medical insurers concentrate on attracting those who cannot afford to join a fully-fledged medical aid. The Essential Med hospital plan being advertised is a typical example.

    It is attractive to many people as it offers hospitalisation in the event of an accident plus disability cover for just over R150 for one person. It offers private medical insurance to individuals, families and groups.

    The company is underwritten by insurance giant, Sanlam.

    The Essence programme from Essential Med offers personal health advice, auto, legal, home emergency, travel and funeral assistance.

    More on the Essential Med Hospital Plan

    Essential Med Hospital PlanEssential Med’s annual growth rate has been nearly 90%. This is because it offers an affordable hospital plan. Another interesting facet of Essential Med’s business is that it has a really young member population, with the average member age being 29, as against the industry average of 32.

    While Essential Med’s affordable hospital plan includes items such as hospital cover, daily health care benefits and emergency evacuation services. It is important to note that Essential sell health insurance policies. So it is not a medical scheme. It is a company that is regulated by the Financial Services Board (FSB) and not the Medical Schemes Act. Therefore, you should remember that Essential medical aid is completely different to a medical scheme.

    What the CEO has to say:

    The CEO of Essential Med, Mike Smit, points out that everyone needs affordable medical care at some stage of their lives but unfortunately in South Africa, people do not have many affordable options in this regard.

    “National Health Insurance is a dream at this stage,” he says. “NHI would, if it could be implemented as documented, be a great and efficient alternative for persons who cannot afford private healthcare. Because of capacity limitations and the socio-economic realities of South Africa, NHI is not going to lead to better health care for South Africans for many years to come.  Essential Med is not a medical aid but medical insurance. Which provides an alternative solution for persons who cannot afford a medical aid and are serious about finding a viable alternative. This option would ensure that the clients have a realistic alternative available if they cannot afford a medical aid. Or do not want to face the possible risks that are a present reality within the government hospitals in South Africa.”

    Another hospital plan company from Sanlam, Day1 Health, started in 2003. This is a network set-up, making use of a network of doctors. Just as Essential Medical makes use of Essential Med doctors.

    Essential Med Hospital Plans:

    Essential Med offers 4 different policies:

    Basic Essential Med Hospital Plan

    Ideal for a healthy, active individual or family looking for reliable, qualitative day-to-day healthcare benefits. And also hospitalisation cover in the event of an emergency or an accident along with insurance benefits in the case of permanent disability or death. You have a choice between day-to-day, hospital cover and comprehensive.  Premiums start as little as R156 per month.

    The Balance Essential Med Hospital Plan

    Ideal for an individual or family living a balanced life in need of reliable, qualitative day-to-day healthcare benefits and private hospitalisation cover.  This plan ensures qualitative care in the event of an emergency, disease, illness, accident or maternity related event. It also provides substantial insurance benefits in the case of permanent disability or death. Premiums start at R460 per month.

    The Boost Essential Med Hospital Plan

    Ideal for an individual or family looking for absolute peace of mind and comprehensive day-to-day healthcare benefits and private hospitalisation cover in the event of any disease, childbirth, accident, illness, or emergency-related event. It also provides increased insurance benefits in the case of permanent disability or death.  You get a choice of hospital cover only or comprehensive cover for as little as R622 per month.

    Group Plans

    Ideal for the South African labour market.  Essential Med offers health insurance products to staff typically excluded from traditional medical aids due to cost barriers. Giving them access to private healthcare. Essential Med products are also complementary to existing medical aids.  So Essential Med’s corporate or group healthcare insurance plans are suitable for businesses of all sizes.


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    All info was correct at time of publishing