Issued by: Cape Medical Plan


2. A bank
You won't get the best interest on medical aids' obligatory savings schemes, so supplement this with your own investment plan.
3. Into individuals
Medical aids have to package risk: this means that you contribute to someone else's costs and when you're old, someone probably younger will help you meet yours.
4. A free agent
Medical schemes are heavily regulated by the state.
5. Profit-oriented
Medical aids are mutual help organizations. Many contract out their management, so ask what percent of your premiums go there: how much does the chief executive earn?

Five jargon busters

1. “Terms and conditions apply.”
Translation: “Our advertising agents want us to be liked. Our lawyers and accountants are scared we might make promises we can't meet.”
2. Solvency ratios
Medical aids are obliged by law to have a cushion of funds against mass claiming, as in an epidemic. The stipulated amount is 25 percent; few have this.
3. “Co-payment”.
Translation: “We can't afford to cover you and you can't afford to cover yourself.” We'll share the trousers.
4.“Medical inflation has risen so our fees have to as well.”
Hospitals - most of which are businesses - and the medical professionals are free to charge what they like. This is the major cause of rising medical costs facing medical aids and members. The question to ask your medical aid what proportions you are bearing and what they are. A solution: ask your doctor to quote you before treatment. Or ask your medical aid to.
5. “Your medical scheme's fees have risen by only eight percent.”
That's an average: it's meaningless. If your head is in the oven and your feet embedded in ice, “average” does not mean you're fine. Ask your provider how much your own fees have risen.

Five things you need in order to choose your medical aid

1. Know your life-stage
Young people tend to be healthy; middle-aged tend to have children who are inevitably high maintenance; and older people often face heavy medical bills.
2. Know the facts
Insist they talk about you about your needs, costs and your benefits.
3. Insist that they use clear language
Medaid-speak means they're talking to their navels, not your head. You have a right to expect clarity.
4. Know that you can reach someone who listens, understands medical needs and medical aid.
Call centre staff? Hardly. Maybe. Sometimes. Nurses and doctors are ideal.
5. Take charge.
It's your life. Right?

Five reasons to have medical aid

1. Emergencies happen
Modern hell doesn't involve devils with pitchforks. It is arriving semi-conscious and bleeding at a private hospital which expects you to produce bank statements and multi-digit deposits before t treating you.
2. Family history.
You don't choose your parents - or their, or their parents' medical history. Some medical conditions are inherited, unavoidable and costly.
3. Health is too important for Russian roulette.
4. Only millionaires can foot the bills and sleep easily too.
5. Having medical aid is easier than not.

Five things you shouldn't have to do in choosing a medical aid?

1. Trawl through industry jargon or advertising on the internet.
2. Rely on one medical aid bad-mouthing another.
3. Avoid choosing because it's a hassle.
4. Listen to bad music while you wait for a call centre agent to reply, then put you through to someone else that's out for lunch and doesn't call back.
5. Sign up for everything but medical cover, gym, air travel or gifts.

Visit our PRESS OFFICE: Established in 1961, Cape Medical Plan combines 40 years of time-proven experience with 21st century technology. Cape Medical Plan has designed its new generation Medical Scheme for South Africans who want to play an active role in managing their family's health and wellness.- more....

[7 Aug 2007 16:04]

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