Revising Your Medical Aid Plan

The COVD-19 pandemic has resulted in society being challenged with not only a health crisis but also financial constraints. South Africans find themselves under immense financial pressure as a consequence of the nationwide lockdown, leaving many households with little to no income.

With so much uncertainty about the future, individuals are implementing cost-saving measures where possible. One of the biggest household costs is medical aid contributions, and however tempting it might be to cancel or reduce payments, especially with the current health crisis, it should be the last place to cut costs.

Should you default on payments or cancel medical aid plans, you risk having your membership suspended and losing your current benefit levels. A suspended medical aid places the health and well-being of yourself and family in danger with the possibility of greater financial strain as no claims will be admitted and access to emergency care will be limited.

Before you default on payments or cancel your medical cover, speak to a Glopin Healthcare Consultant to advise on a downgrade that provides suitable cover at an affordable rate. Perhaps, the recent times have highlighted the importance of a comprehensive medical aid and motivated you to consider an upgrade with increased benefits.

When revising your medical plan and costs, there are various factors and implications to consider. These include the best times for revisions, changes in benefits and limitations as well as possible waiting periods. Your Glopin Healthcare consultant will have a comprehensive checklist to guide you when rethinking your medical aid options.

  • Best times – The best time to make changes are at the end of the year in December and the beginning of the year in January. Joining or changes that occur mid-year could result in you not receiving full benefits.
  • Evaluate changes in benefits and limits – Medical aids all have different benefits and guidelines. For example, some plans may implement a policy to use only GP’s and specialists on the schemes provider network.
  • Inquire about a waiting period – Changes within the same scheme but to a separate plan or starting a new medical aid could be affected with a 3-month waiting period. While PMB’s should not be affected when changing plans within the same scheme there are many restrictions that you should familiarise yourself with.

For more advice and a checklist, allow one of our team members to meet with you, evaluate your needs, and provide a unique and specialised analysis with recommendations for your healthcare solution