Three questions to help you choose the right medical aid plan for you

Your primary objective is deciding what you want your medical aid plan to do for you, says Discovery financial consultant Claire van Wyk

26 October 2021 - 08:00
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Find out more about comprehensive benefits and cover offered by Discovery Health Medical Scheme.
Find out more about comprehensive benefits and cover offered by Discovery Health Medical Scheme.
Image: Supplied/Discovery Health

The Covid-19 pandemic has not only highlighted that health is our most valuable asset, but also the importance of having medical aid cover to support you through life’s challenges. There are many different plans on offer. 

How to choose the right medical aid plan for you

Trying to decide on what’s best for you can be daunting as there are so many medical aid plans to choose from. Everyone has different needs, so there’s no such thing as a one-size-fits-all solution. 

These three questions should help you to find your best option:

WHAT ARE MY NEEDS?

Decide what you want your medical aid plan to do for you, says Discovery financial consultant Claire van Wyk. “Your age, state of health and life-stage are of primary importance in answering this question. Do you have a family or are you planning to have one? Do you or any of your family members (dependants) have any medical issues? Bear in mind that the older you are, the more medical cover you will probably need as your risk for chronic health conditions and medication increases with age.”

Your medical needs will determine whether you need cover for: 

  • GP and specialist visits
  • Dentistry and optometry
  • Chronic illness
  • Maternity care  
  • Mental health care
  • Oncology
  • Home care 

All these elements need to be considered when making your decision. Provision should also be made for any unexpected medical curveballs. And, it’s also important to annually review your medical aid plan as your needs change with time.

Find out more about comprehensive benefits and cover offered by Discovery Health Medical Scheme.

WHAT PLANS MEET MY NEEDS? 

“Plans are broken down into Hospital plans, Saver type plans and more Comprehensive plans, that have above-threshold benefits,” says van Wyk. “Knowing your needs helps you choose the plan type that may best accommodate them. 

“For example, a Comprehensive plan may seem expensive at first until you look at your out-of-pocket expenses. When you add them in and consider what the plan offers you in terms of benefits covered, you may find it more cost-effective.

“In the same way, while a hospital plan option may be more affordable than full medical aid cover, going this route should also be carefully assessed and will depend on your individual needs. A qualified financial adviser will be able to guide you.”    

Read up on Discovery Health Medical Scheme medical aid plan options and 2021 contributions.

To better understand how your Discovery Health Medical Scheme plan works, watch the video below:

WHAT CAN I AFFORD?

Another important consideration is your budget, says Van Wyk. “As a general guideline, opt for the best medical aid plan available in your price range to ensure you’re adequately covered health-wise and are not financially strained.”

Carefully research all the terms and conditions so you understand exactly what’s being offered. If you don’t feel comfortable about making the decision without advice, talk to an independent financial adviser or medical aid consultant. They’ll be able to help you choose the option that best suits your needs and your wallet. 

Read up on how the Discovery Health Medical Scheme medical savings account works and Smart plans

This article was paid for by Discovery Health.


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