These days, it is true that many South Africans have had it rough when it comes to differentiating between the medical aid scheme and the hospital plan. In most cases, people have found themselves in chaos and confusions for failure to draw a line between the two.
For instance, they do spend on the hospital plan with believe that they are executing their task on the medical aid scheme. Also, some people have ended up overspending on one when the other offers cheap rates with excellent services. To avert such kinds of troubles in the future, let us keenly analyse the outstanding differences between the two.
One is that a hospital plan is put in place to serve the people who have the ability to shoulder the everyday medical bills and are looking for a wide necessary in-hospital cushion to be enveloped within an economical financial plan. The cushion also covers all annual bills for hospitalisation among other related bills. The cover can be increased in case need exceeds due to a number of causes. In addition, most packages of the hospital include the transport fee such as ambulance costs. On the other hand, the medical aid scheme is quite expensive compared to a hospital plan. Despite the fact that this scheme offers you a wide medical cover, its charges are very much high. As a result, it is less popular.
Hospital plan is also known as ‘Entry level medical aid plan’. Its affordability has made it the most preferred among the South African population. Unlike the medical aid schemes, the entry level medical plan offers excellent medical cover with low premium charges.
A hospital plan is quite instrumental in emergency matters. For instance, there are cases where you may find yourself in a disabling ailment or have an accident that ultimately breaks down your ability to provide. Under such circumstances, the hospital plan comes in handy to assist as you are required to only pay an affordable monthly premium. Among other advantages from the hospital plans is maternity coverage and coverage of prevailing medical status.
Apart from that, individuals who do not claim their benefits over a certain period of time get the reward of a cash back bonus or automatically qualify for a cash payout. For more about such kinds of benefits, it is important to research on the internet on insurance institutions that offer this kind of service.
Therefore, hospital plan is the best ways to go as it enables you sustain your family in whichever condition you are in. My uncle who lives in Durban was once struck with stroke. His wife was jobless hence he was the only bread winner. We did not know how we could manage taking care of them. The good news is that he insured his family with a hospital plan. Even after his death three years ago, his family is still doing well as the little monthly premium paid by his wife to the insurance company does a lot for the family.