How to Budget for Your Medical Aid Planning

With increasing high medical costs and expenses, it has become essential to budget for a Medical Aid Scheme that will assist you if crises should arise. Young people often think that they are healthy and don’t require the cover. Emergency cover at least should be budgeted for, and this can be found in the lower tier scheme options. However these only offer very basic coverage. In this article, we will show you how budget planning for medical aid works.

Tips for budget planning for medical aid

 Real accounting: 

Budget Planning for Medical Aid

Make sure that you keep an accurate real account of your spending. Many people only have a vague idea. For a month it is advisable to keep a daily record of what you spend. This is the only way that a person can tell whether there are opportunities to save even small amounts of money. This is a crucial step to do budget planning for medical aid.

Prioritise Saving Amounts

By examining the record of expenditure, it is possible to realise how much money can be saved, and put toward taking out an option with a Medical Aid Scheme.

Make the Savings

Look closely at your budget and make a concerted effort to save by:

  • Taking meals to work: no fast foods
  • Buying Generic items at supermarkets
  • Bake at home instead of buying
  • Use Coupons to reduce expenses
  • Entertain at home rather than eating out.
  • There are many out there which when added up can make an impressive amount.

 

Talk to family and friends

Not only for their saving tips but discuss which medical schemes that may be with and actually how much it does cost every month. Medical aid is a lot more affordable than people realise.

Talk to a consultant at affordable medical aid and find out which options could be affordable for you. Now you have a goal to work towards to!

Buy the Cover

After consultation and advice, buy only the cover that you need and can afford. Don’t forget it is possible annually to upgrade cover if need be.

Perks/ Rewards offered by Schemes

Many medical aids offer perks and special offers i.e. discount on joining a gym, discount on air travel, holidays, movies, etc.better suited. These can be huge saving if you use them. If you don’t then it would be a better better-suited plan which is within your budget, even though it doesn’t offer any extras. It is more important to have the best cover you can get for your available funds.

Advice available from Independent Consultants

Contact a consultant at AFFORDABLE MEDICAL AID (Tel: 031 267 5060) a subsidy of SWEIDON and Co. who will chat to you about what is available to suit your budget but offer a reliable scheme option

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