Which Medical Aid once again

[Wynsam]

Wynsam do you maybe recomend the Renaissance? They cover 300%. Some advice would be great from you as I think you have your finger on the pulse. Excuse the pun

No we don't. One of our criteria is that schemes should meet the required solvency. In the last audited figures that we have access to they were at 16.2%, granted up from 11% so the trend is good. This is lower than the 25% required by law. This means simply that they will have to charge higher premiums than their peer competitors would have too, all other things being equal( that statement is a huge simplification but it still stands) to be able to grow to 25%.

A worry is that the scheme lost 9% of their members. That too high and indicative of issues. The loss would also explain the increase in solvency. So far not a rosy picture.

I think their nett non-health care costs are also too high-- this the amount they spend on admin advertising, and all the other things except your health. Their cost ratio is higher than average. Average for the industry is 16.1% they are at 21.6%, so in my view they are wasting members money( remeber that the scheme belongs to members- they charge fees to the scheme for their services)

So to sum up I think their could be better ways to spend your medical aid money.

 

[Wabi]

Speak to a qualified broker, if you don't have one PM me and I can guide you.

You spend alot of money On MA and its important that you get it right. Many are wasting cash by overbuying(or is that being oversold) and some are hopelessly under covered. It all depends on your and your families needs. That why i cant give a blanket answer, there is none.

If you want I can help here on the fourm or PM. Here on the fourm I will have to ask a range of questions you might not want everyone to see the answers too!!

Hi Wynsam

I am looking for decent cover - currently on Oxygen Silver, have been contemplating Renaissance (Wholelife) but have heard they are not good payers? Can you advise or direct me somewhere? I need good dental cover in particular...................

Thanks
Wabi

 

[Wynsam]

Pm sent.

 

[dd1313]

Guys

before you change to any medical aid...get the latest financial
reports from the council of medical schemes site.

http://www.medicalschemes.com/publications/publications.aspx?catid=7

Then go to annexure K or L i think which gives you a list of
all schemes and the number of members they have.Most importantly
pay attention to the solvency ratio.Last I heard Renaisannce
was on 3% or something like that and they need to be on 25%

Good luck
DD

 

[Maelly]

Just moved to Discovery Coastal Saver, still considering the Vitality thing

 

[cerebus]

My wife is on Keyhealth right now, gold plan. She is very happy with it and they pay out well. Any thoughts on that Wynsam?

 

[lucifir]

have a look at momentum ... they seem to be reasonably priced(compared to other schemes/med aids) and offer good benefits ... so far I have not had any probs with them .... but would still like to get a med aid with similar options/benefits but at a lower cost

 

[blunomore]

Whatever you do, stay away from Profmed.

 

[BTTB]

have a look at momentum ... they seem to be reasonably priced(compared to other schemes/med aids) and offer good benefits ... so far I have not had any probs with them .... but would still like to get a med aid with similar options/benefits but at a lower cost

Same here.

Also with Momentum.
Prices are ever increasing I notice.
Not that I can blame anyone, but perhaps there is better value out there.

 

[kevinswan007]

I cant afford medical aid. at least not full cover, only the basic hospital plan. of which that is even becoming unfordable.
now with electricity prices soon to triple, how is the average joe supposed to survive?

 

[Maelly]

Tell me about it man, HELLLLCOME!

 

[lucifir]

I cant afford medical aid. at least not full cover, only the basic hospital plan. of which that is even becoming unfordable.
now with electricity prices soon to triple, how is the average joe supposed to survive?

I think most ppl are on the hospital plan only with any of the schemes.. cause the full cover is way too expensive and u really don't need full cover, unless you are old or have some serious illness

 

[cerebus]

I think most ppl are on the hospital plan only with any of the schemes.. cause the full cover is way too expensive and u really don't need full cover, unless you are old or have some serious illness

I've put my wife on full cover because she's due to give birth in a few months. I dread to imagine what would happen if anything went wrong and we only had a hospital plan.

 

[lucifir]

I've put my wife on full cover because she's due to give birth in a few months. I dread to imagine what would happen if anything went wrong and we only had a hospital plan.

Cerebus .... not sure what could go wrong that would not be covered under the hospital plan and yet be covered on the full plan as the full plan is really only for the added out of hospital expenses ... so if something did go wrong, you would/should be fully covered on the hospital plan .... but may sure that you have 300% cover or u could end up paying in as most anesthetists charge around 300% of the med aid rate ... also ... most hospital plans treat the pregnancy almost as a hospital event and you get the benefit of all the gynae visits as part of it ... so u are probably paying for something you don't need ... just my 2c ... which should save u more than 2c

 

[kaspaas]

There are a number of Medical Aid administrators - each of whom administers a number of medical aids.

Speak to the accounts department of a busy specialist practice and find out which administrators are slow paying or general admin messes.

From the coal face you should get decent honest answers.

 

[cyberarmy]

I have no choice but to join Discovery because it's company policy, now joined the Classic saver plan or something, company pay half so ends up paying R560/Pm. Got my membership numbeer yesterday.

 

[cerebus]

Cerebus .... not sure what could go wrong that would not be covered under the hospital plan and yet be covered on the full plan as the full plan is really only for the added out of hospital expenses ... so if something did go wrong, you would/should be fully covered on the hospital plan .... but may sure that you have 300% cover or u could end up paying in as most anesthetists charge around 300% of the med aid rate ... also ... most hospital plans treat the pregnancy almost as a hospital event and you get the benefit of all the gynae visits as part of it ... so u are probably paying for something you don't need ... just my 2c ... which should save u more than 2c

Really? I've heard some pretty nightmarish stories about people going in with only a hospital plan and having to top up huge amounts. That would save us a bomb if we could downgrade...

 

[ajax]

Really? I've heard some pretty nightmarish stories about people going in with only a hospital plan and having to top up huge amounts. That would save us a bomb if we could downgrade...

My wife's on a hospital plan with Fedhealth (maxima core), we got it for her about a year before we planned to start a family. All the hospital expenses were covered fully including 3 scans during the pregnancy. Note that you will have to register your child straight away cause any care given even a day after he/she's born would not be covered under your wife's plan.

 

[lucifir]

Really? I've heard some pretty nightmarish stories about people going in with only a hospital plan and having to top up huge amounts. That would save us a bomb if we could downgrade...

I am on momentum and I know their structure quite well ... not sure about the other med aids .... but basically the hospital plan is meant for those serious cases(basically everything that would land you in hospital - which is also the most expensive), the full cover is for the everyday stuff like doctors visits,radiology(when not admitted to hospital),etc. ...

so anything really serious is covered by the hospital plan ... but the issue that most people have is that of the rates charged by the doctors/specialists .... as most doctors/specialists now charge above the NHRPL(I think this is the acronym) prices - hospitals themselves generally charge NHRPL prices ( but that is just for ur room,equipment,etc.)...

so you generally have to pay in for the doctors/specialists ...
in your case, just make sure that you cover yourself fully by taking the plan with 300% cover ... it is a little more expensive than the 100% cover but still way more cheaper than the full cover option

hope that helps

btw ... I am not a broker , so you may want to consult a broker that understands medical aids (I am yet to meet one of these ... but u could just get lucky ;-) )