A medical aid plan that gives you something back.
December 13, 2012
Healthcare plans can be costly, however, there are cheaper options like Cash back medical aid plans. They offer reward programmes that give members more room with their savings and reward them with great offers and incentives.
Hospital cash Back medical Aid
One of the cheapest health options is Hospital cash back medical aid. This offers cover for a monthly rate or per procedure and thus provides members with extra cash for hospital costs. These low-cost plans are a complementary cover for costs that are not included in a hospital plan.
Hospital cash back cover is cheap but it’s not to be confused with a Medical hospital plan. The hospital plan may not provide cash back but does offer much higher cover for unlimited in-hospital procedures.
Doctors and hospitals tend not to recognise hospital cash back plans as medical cover. Which means you have to pay a deposit prior to admission for a procedure.
What else Do hospital Plans cover?
Hospital plans offer cover during a stay in a hospital only and do not pay day-to-day costs such as consultations or medicine. As a cheap insurance option hospital plans are ideal for healthy people who do not require on-going treatment.
Most hospital plans impose sub-limits on certain conditions. Some require a co-payment before you can go to the hospital. It is in cases like this that the plan provides cash to pay medical costs that the hospital plan excludes. The member receives the money directly.
Qualifying for Insurance policies
To qualify for the plan, you must be a South African citizen or a permanent resident in the country and over 18 years of age. The maximum entry age is between 59 – 65 years old and earning a monthly salary of between R2 000 – R5 000.
Cash back Medical aid Continued
When it comes to cheap health cover, a little research goes a long way. Cash back plans exist and offer some superb rewards for their members.
Discovery Health’s MedSaver allows members to save up to 25% on over-the-counter medicine at certain chemists. And just using the option on their website can earn you 10% cash back.
Momentum Health offers a HealthReturns programme where you can earn up to R5 400 cash back.
Hollard Insurance has a Day-Aid hospital cash back plan that pays back 20% of the premiums every 5 years. You receive an R5 000 payout for up to 180 days if you stay in a hospital due to illness for more than 3 consecutive days,
Cash back medical aids offer great low cost medical aid options and peace of mind in an emergency.
All info was correct at time of publishing