Medical insurance vs medical aid

In the modern age, health care and hospital costs have become increasingly expensive. Even the smallest operation now could see you having to wipe out your savings account! The high cost of healthcare means it is vital to have some type of medical cover set up to help out when needed. The main two choices you have in this area are medical insurance and medical aid. Although people often confuse the two or think they are the same, they are totally different.

If you are looking to compare medical aid against insurance to find the best one for you, the below information should help.

In This Guide:

What is medical insurance?

The key to understanding the two types of cover is knowing what each one involves. Medical insurance usually pays a set amount out for every day you spend in hospital or a maximum set amount for each incident. This is a fixed amount that does not pay attention to the type of medical treatment you may need. Medical insurance payments are made to you directly and you then settle any fees or bills afterwards.

It is worth noting that the money can be used to pay for costs associated with any treatment as well as other expenses occurred while in hospital. Medical insurance can also cover you for more day to day medical expenses such as GP visits. In most cases though, this cover will be fairly limited and you may have to bear most of these personally. When thinking of taking out insurance in this area, cost is also a factor due to medical insurance usually costing less than medical aid. You must be aware though that this lower cost is due to fewer benefits and cover being included in an insurance package.

What is medical aid?

Medical aid, on the other hand, offers something different altogether. This gives in-hospital protection and pays out for any treatment needed in conjunction with the specified medical tariff scheme. Any payments here are normally made directly to the service provider and/or hospital involved. This is preferable for some who do not want the hassle of sorting out payments themselves with providers.

As with insurance, medical aid also covers daily medical costs like GP appointments or buying medication. Medical aid does offer more in this area though and can offer more comprehensive daily cover, depending on the type you have. In some cases, certain providers may still require you to pay for daily expenses and then claim back from your aid package. As noted above, medical aid normally costs more to take out than medical insurance. This is because it provides more comprehensive cover and more benefits usually.

Which one should I go for?

This will be a personal choice and something only you can answer for sure. As it will depend on your particular circumstances, you need to make the decision based on what is right for you. The best way to make this choice is to think carefully about your own medical needs. Those who are pretty healthy and do not expect to pay for daily medical expenses will usually find medical insurance to be enough.

If you are older or more prone to ongoing health issues which could prove expensive in daily life, medical aid may be the better bet. Although this will cost more to take out, it will actually save you money and hassle in the long term compared to insurance.

Can I get medical insurance and medical aid?

The good news is that, if you choose to, you can take out both sorts of cover. People sometimes choose to do this to give them full protection for any medical treatment they may incur and enjoy the benefits both sorts of cover offer. In some cases though, people will choose to take out gap cover instead alongside medical aid. This helps to cover any gap between what the official price of any treatment is and what the provider may actually charge for it. It is also worth knowing that medical insurance can also be used to top-up your medical aid savings when they run low.

How can I get cheap medical aid?

Most people now will use an online price comparison site to compare medical aid quotes and find the best package for their needs. These handy sites do all the hard work for you and save you spending hours trawling the net checking out different providers individually. Using an online comparison site also makes finding cheap medical aid cover easy and means you never miss out on the best value deals.

Compare medical aid online

If you are looking for the best place to compare medical aid online, then check out our website today. We find and list all the best medical aid deals for you from all the top providers around. This means you can not only find the exact cover you need but also save time and hassle whilst doing so.

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