Medical aid for pensioners

Medical aid becomes more important as we get older, as we’re more likely to suffer from long-term illnesses in later life. Unfortunately, aging can be associated with a drop in income, making the cost of an unexpected trip to the doctor or dentist a highly stressful experience.

If you’re approaching retirement, or already are a pensioner, you may be considering taking out medical aid cover. When deciding on the right sort of aid, it’s important to weigh up all your options before taking out a plan, to ensure you’re covered if the worst should happen.

In this article, you’ll find a complete guide to medical aid in South Africa, including the types of cover available, and how to apply. Read on to find out more.

In This Guide:

What is medical aid?

Simply put, medical aid is a type of insurance that covers the cost of any unexpected medical bills. Those medical bills could be from hospital appointments, dentistry, optometry or surgeries.

Medical aid is particularly popular with pensioners, as they’re more likely to fall ill as they get older.

There are different types of medical aid plans available, whether you’re looking for a comprehensive plan that covers appointments, check-ups and prescriptions, or life-threatening illnesses only.

Anyone can apply for medical aid, but not everyone will be accepted on to all schemes – each individual will be assessed on how healthy they are, as well as their income, when they apply.

Why would I need medical aid as a pensioner?

As a pensioner, you’ll know that money can sometimes be tight. Unexpected medical bills can add extra stress and strain on you and your family at an already difficult time, which is why thousands of pensioners choose medical aid plans to cover such eventualities.

However, comprehensive medical aid schemes can be incredibly costly depending on the type of cover you want or need, so it’s vitally important to shop around to make sure you’re getting the best possible cover for your money.

What level of cover do I need?

Making sense of all the different types of medical aid can seem a little daunting at first.

When deciding on the best level of cover you may need, look at both the price of the cover (you’ll want lower monthly premiums) as well as the types of chronic illnesses covered by the plan. If you already have some health issues, it may be worth consulting your general practitioner to get a view of the aid you may need further down the line.

Many pensioners choose to downgrade their level of cover to cover chronic illnesses only, as comprehensive plans can cost a small fortune.

If you’re unsure of the type of cover you may need, or simply would like to speak to a professional, get in touch today. We’ll discuss your needs and provide a recommendation based on your budget and your requirements, with no obligation to buy.

How do I apply for medical aid?

There are two options that you can take when applying for medical aid cover. Either you apply via the medical scheme directly, or you use a registered medical broker. Both options have pros and cons, however, if you’re unsure of the type of cover you may need, we recommend contacting a broker for some independent financial advice before taking out a plan.

The process of applying is simple. You’ll need to complete a form with all of your personal details included, as well as detailed information of your medical history, and current health concerns.

Once submitted, the medical aid scheme will carry out analysis based on your current health conditions and financial status. They will then come back to you with a few options for you to consider, based on the type of cover you require and how much you wish to pay.

Once approved, you’ll be expected to pay your monthly premium at the start of each month to initiate cover. You may find that if your payments lapse, your cover will too, so always check to ensure payments are up to date to avoid any nasty surprises.

Compare medical aid online

If you’re still wondering which type of medical aid cover is right for you, you’re not alone. There are thousands of different policies available from hundreds of schemes, so choosing the right one may feel a little overwhelming at first.

The good news is that there are ways to easily compare medical aid online.

Simply enter a few simple details into our tool below to get tailored medical aid advice specific to your needs, in real-time.

Give it a try today.

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