Making better choices
is not always this easy

 

Medical Aid & Hospital Plans

South Africa has about 160 medical aid schemes totalling around 7 million beneficiaries. The total annual contribution to medical aids is around R35-billion (according to the Council for Medical Schemes - 2006).

*Take into account South Africa has a population of more than 55 million people - meaning less than 16% of South Africa's citizens belong to a medical scheme.

Not all medical schemes are open to the public.  In fact, of the 82 medical aid schemes, only about 22 are open to the public.  This number might decrease over the years as the larger schemes take over the smaller ones.

According to the 2016/17 CMS annual report at the end of 2016 there were:

  • 82 medical schemes
  • 60 restricted
  • 22 open schemes
  • Approximately 8 900 000 beneficiaries

So how do you choose a medical aid scheme or hospital plan, a specific option of the scheme, which benefits to include or exclude?  

In this ever-changing environment, you need the services and advice of an independent intermediary. Someone who doesn't only have the interests of a specific medical scheme at heart, but one who can guide you to ensure your needs are met.

Olemera Financial Planners Johannesburg

Our financial planners can and will assist you with:

  • choosing the "most suitable" medical aid option in the market
  • investigating and comparing medical schemes and options
  • providing pro-active advice on your present medical aid
  • assist you with claims and query resolution

Examples of medical aid schemes used when analysing your needs:

  • Discovery Health Medical Scheme 
  • Fedhealth Medical Scheme
  • Momentum Health Medical Scheme
  • Healthsquared Medical Scheme (After the merger between Spectramed and Resolution Health)
  • Profmed Medical Schemes
  • Medshield Medical Scheme
  • Bestmed Medical scheme

For more information about how our financial planners can assist you with your medical aid or hospital plan, and selecting the best option for your needs and budget, please contact us.

 

Have You Thought About a Retirement Annuity Yet? It's Not Too Late

[Title]

We cannot stress enough the importance of having a retirement annuity or another form of savings or investment to finance your years of retirement.

As South Africans, we are faced with a plethora of challenges which make providing for our retirement relatively tricky.

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Posted by Gary Walker on Friday, May 31, 2019 Views: 76