#money-tips | 3 min read

Medical insurance: help when you need it

By TymeBank - 29 June, 2022

The reality

If we’ve learned anything from the Covid-19 pandemic, it’s that banking on the chance you will remain strong and healthy isn’t something you can count on. Visits to a GP alone cost a few hundred rand, add in the medication and the common cold can become a pricey affair. And, if you have severe Covid, a stay in hospital may be lifesaving, but the bill can leave you gasping. So how can you protect your health, your family and your budget?

Why you need medical insurance

Having some form of medical insurance in place is a good place to start. Take TymeHealth for example. It’s a product offering developed in collaboration with TymeBank and the National HealthCare Group. Its purpose? To give the people of Mzansi access to quality primary healthcare at the lowest possible cost.

What you get with TymeHealth

Access to a national network of over 12 000 doctors, pharmacies and other healthcare providers.
Cover for the whole family. Often when one member falls ill, the others get sick too, resulting in multiple medical bills.

Help when you need it. Given the high costs of living very few of us have extra cash stashed to pay for unexpected bills.

Illnesses are not the only things that can catch us out of pocket. Accidents happen all the time. From a burn from boiling water in the kitchen to a broken arm from falling off a bike, having medical insurance in place means that any member of your family included in your policy can access hospital or specialist care – without having to put in another cent.

Cover for chronic medication. With diabetes and depression on the rise, more and more people require expensive chronic medication. Medical insurance plans like the one offered by TymeHealth and the National HealthCare Group include cover for specialised medication – after all, it’s not something one can live without even when money is tight.

Did you know?

Medical insurance is different to medical aid. Medical aid helps its members by paying or co-paying for expenses related to the necessary medical treatment. Medical insurance on the other hand, pays out a fixed lump sum based on the premium that the member signed up for which is then used to pay for their healthcare treatment. 

How it works

TymeHealth has 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. Consultations are covered once a member’s TymeHealth digital card is shown and it can be used to pay for medication too – no cash is paid over by the member. It just another way TymeBank is giving you more, for a lot less than you’d expect.

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