Should You Have Health Insurance Coverage As Well As Medical Aid?
Insurance coverage exists in the contemporary world for the reason that there is a need for it, it’s that clear-cut. Having said that, insurance cover of any type will cost money and can potentially be an extra outlay of money that a person might not be able to have the funds for. This being the situation, is it genuinely necessary to have health insurance coverage together with medical aid?
Some folks have a belt-and-braces attitude towards life which means that they like to take additional measures so that it the buckle comes loose, metaphorically-speaking, the braces will continue to keep the trousers in place. Thus with regards to the matter of health care, an individual like this would most probably be in possession of health insurance coverage and also belong to some medical aid plan. While it may seem that the person with this type of approach to medical cover is being overly careful by possessing both health insurance and medical aid, they could well have a justified reason for doing so.
The days are gone when a comprehensive medical aid plan covered almost all our medical expenses without us basically having to pay for anything from our own pocket. Today, we might find ourselves paying a levy for the medication we receive from the pharmacy or even shell out for the total amount if our medical aid savings have run out. Furthermore, in Southern Africa, if the physician or medical specialist charges more than the present medical aid rate then you’ll have to pay the excess. These are just 2 instances of when you may have to pay out of your own bank account for medical expenses but they serve to underscore the idea that being a member of a medical aid plan nowadays doesn’t necessarily mean that you’re 100 % covered financially.
The main purpose of health insurance coverage is to cover this sort of financial shortcoming and can be extremely useful when you are seriously ill or in a healthcare facility for a long period, for instance. The very last thing you want on occasions like this is to be plagued by mounting bills that you will have to pay because your medical aid allowance has run out. Additional medical insurance coverage is also very helpful when you have a serious health condition because medical expenses for this are likely to be high and continuous where there is a need for extended treatments. What’s more, insurance plans for dread illness coverage are normally tailor-made to the exigencies of a particular ailment and are often more suitable and useful under such conditions than a normal medical aid scheme.
It could also be helpful to possess health insurance coverage in addition to belonging to a medical aid scheme because medical health insurance plans will normally pay you a specific sum of money. You can use this cash to pay medical costs although it does not necessarily have to be used for this. The cash can be used to defray household costs, for instance, in case your loved ones are struggling because you’re in hospital and cannot earn income. Medical aid plans, on the flip side, will typically cover your medical bills or reimburse you if you’ve already compensated medical specialist directly as opposed to giving you money with which to pay your bills, medical or otherwise.