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The following things should be kept in mind when choosing a medical scheme:
• Make sure the scheme is a registered medical scheme in terms of the Medical Schemes Act 131 of 1998, and that it is financially sound.
• You can check these details on the site of the Council for Medical Schemes.
Financially sound means:
• They have a solvency ratio of 25% and more.
• They don't have an average member age of much more than 43 years. (the average age of members of the healthier schemes).
• The non-healthcare costs of the scheme are not too high.
• The scheme has a fair number of members.
Also:
• Check things such as exclusions and benefits. Remember, membership of a medical scheme constitutes a legal contract, and it is in your best interest to understand the terms of that contract.
• Find out which chronic conditions are covered.
• Find out what your monthly contributions would be.
Read more:
21 ways to cut your medical costs
7 things to know about your scheme
