How to Manage Your Medical Aid Membership
It is silly to play a dangerous game of chance when deciding on whether to have Medical Aid or not. Here we will have a look at managing your medical aid cover membership?
When people are young, they often feel that they are perhaps invincible, or at least, that any sickness or need for hospitalisation is not in their immediate future.
Statistics show that in the last 12 years Medical Costs in South Africa have grown by over 300 %.
That does not take into account and unforeseen circumstances.
- Motor Car Accident
- Sports Injury
- Auto Immune Diseases i.e. Lupus/Crohn’s Disease/Type 1 Diabetes
- Previously Undiagnosed Hereditary Disease
Most of these will require hospitalisation even for a short while. And can result in large bills.
Another point is that people who are on a budget sometimes feel that they would rather take the risk and NOT have any medical aid. It can be “false” economy. If any of the family require private hospitalisation, the costs can become crippling.
Medical costs continue to rise particularly in an Emergency.
It is, therefore, wise and sensible to look at planning for Medical Aid Cover.
Tips towards planning Medical Aid Budgeting – Medical Aid Cover Membership
- Talk to family and friends. Ask questions about the type of cover they have and the costs and benefits involved. Most people think without investigating that Medical Aid cover membership is not affordable for them.
- Track expenditure so that it can be easily seen where the money is being spent and used. It should be done for at least a week. As the day develops, everything should be recorded. At the end of the week, a clear record of all expenses should be available.
- After examining their budget, it is now possible to see where you can save. For example cut out the fast food lunch once a week, use supermarket coupons, purchase generic goods. It may be surprising how the small amounts add up.
- Approach a Professional Medical Aid Consultant. They will give unbiased advice that will suit anyone’s circumstances.