Gone are the days when we used to think that we don’t need any kind of medical insurance either because we don’t have a chronic illness or hardly get sick or because we think it’s simply way too expensive.
Importance of medical insurance
When one signs up for any type of insurance, be it vehicle, household or medical — it’s always with the fervent hope that you’ll never need to use it. Of course, no one intends to be involved in an accident, become ill, or need a life-saving surgical procedure. That’s why it’s more prudent to invest in your health with an affordable medical insurance that’s trustworthy and affordable, because life happens.
In our country, more than ever before, it’s an absolute essential to have medical insurance. Yes, public health is available and free, but with the limited resources and the evolving strains of the Covid-19 virus, our public health professionals are overworked and stretched to the limits. We salute them!
The difference between medical aid and medical insurance
The terms medical aid and medical insurance are sometimes used interchangeably, but incorrectly so, because they are two completely difference services.
A medical aid scheme aims to assist its members in paying for expenses that are related to the required medical treatment. Members are usually required to stay within a network of health practitioners and the amount required to pay for the service is paid for from the tariff paid. Sometimes there’s also a savings facility within a medical aid, where medication can be paid for from these funds.
Medical insurance on the other hand is an insurance facility that pays out a fixed lump sum based on the premium that you have signed up for that will then cover your health care treatment.
Why TymeHealth is the best option for Mzansi
Depending on which type of medical plan you opt for from the three we have, you can rest assured that you have either full or a degree of important cover to assist you financially when life and its medical misfortunes happen. At very least, the stress and worry about meeting essential medical costs won’t feel like an unexpected blow, in addition to your medical condition.
With TymeHealth, day-to-day illnesses and injuries are covered so you don’t have to bear the brunt of incurring GP costs. When it comes to hospitalisation, remember that any treatment you receive while still in the casualty ward before you’re officially admitted is not covered by your hospital plan; that’s a separate benefit that will cause a dent in your pocket, but not with TymeHealth’s MediClub Elite which caters for such unforeseen circumstances.
Medical emergencies can have steep financial implications and their expenses can run into the tens of thousands of Rands. It does help to bear this in mind when planning for medical insurance cover.
All medical insurance plans also have waiting periods, and taking out a plan after you’ve learnt of an illness means that you can’t enjoy the benefits during that waiting period, which could last up to 12 months. It’s prudent and wise to plan in advance so you don’t deplete your savings while getting the medical care you need.
The first question on everyone’s mind? Is medical insurance expensive?
At TymeBank, the answer is an unequivocal NO! That’s because we have three medical insurance plans you can choose from depending on your medical needs; MediClub Connect for R139 per month, MediClub Premier for R299 per month, and MediClub Elite for R399.
While one person’s idea of “expensive“ is another’s idea of “affordable” it all depends on household income, lifestyle and perception of life. What one deems important, the other might see as a frivolous expense. However, no medical insurance contribution is expensive when compared with what state-of-the-art medical treatment and complex surgical procedures may cost you.
The impact of the pandemic is not lost on us, and at TymeBank, we know that many South African households have had to tighten the belt and reduce their expenses down to the minimum; and that’s why TymeHealth is a frontrunner for quality healthcare in Mzansi.