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.

 

Inheritance Tax and Beneficiary Rights in South Africa

[Title]

In South Africa, "inheritance tax" is a term commonly used to refer to estate duty, a tax levied on the property of deceased persons. However, it's important to note that the financial implications don't stop there. Other taxes, such as Capital Gains Tax (CGT), and concepts like death duties, also play critical roles in the financial landscape of inheritance.

Read More ...
Posted by Gary Walker on Thursday, March 28, 2024 Views: 251

Estate Planning in South Africa – What You Need to Know

[Title]

When it comes to safeguarding the well-being of our loved ones and ensuring our legacy endures, estate planning is a crucial step that cannot be avoided. In South Africa, where the fabric of society is woven with strong familial ties and a deep sense of legacy, the importance of estate planning becomes even more pronounced.

Read More ...
Posted by Gary Walker on Wednesday, March 13, 2024 Views: 254

8 Powerful Cashflow Management Tips for Businesses

[Title]

At its core, cashflow represents the lifeblood of any business. It's the movement of money in and out of your company's wallet. Think of it as tracking every rand that dances through your business, from the payments received for your services or products to the money spent on expenses like rent, salaries, and supplies.

Read More ...
Posted by Gary Walker on Wednesday, February 21, 2024 Views: 379