There will always be people who think that medical aid is for the old and sickly only, but this is undoubtedly a false perception and one that should be avoided.
Regardless of age or health status, everyone is at risk of landing up in hospital. The reality is that accidents, injuries and stress may lead to disease, illness or disabilities.
This is why it is vital for people to ensure that they have medical aid to cover and protect them financially in the event of a medical emergency as these expenses can be very high.
Don’t wait for the ‘wake-up call’ of serious illness before joining a medical aid, as medical aid schemes can apply the following:
Late Joiner Penalty
This penalty will be imposed on members over the age of 35 years and who have never be on a medical aid before or had a break of more than 90 continues days.
The penalty is applicable to the risk benefit contribution and will apply for the rest of your life, increasing in line with the contributions each year.
The Late Joiner Penalty works as follows:
|NUMBER OF YEARS OF NO COVER AFTER 35 YEARS||LATE JOINER PENALTY|
|1 to 4 years||5%|
|5 to 14 years||25%|
|15 to 24 years||50%|
3 Months General Waiting Period
This means that the medical aid scheme will only pay for medical expenses incurred after 3 months of joining the scheme. This waiting period will start on the date that your membership commenced and end 3 months after this date.
12 Months Waiting Period
The medical aid scheme will apply a 12 months waiting period to pre- existing conditions. This means for all medical conditions that existed before you applied for cover, the medical aid scheme will not pay for any medical costs associated with these specified conditions and related disorders.
This ruling applies for the full 12 months from when you apply for cover.
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