Medical Aid, are you getting value?

Oct 16, 2019

Are you in a quandary about your medical aid? How do you know if you’re getting value for money?

How do you know that you’re getting value for money from your medical scheme? Josua Joubert, Chief Executive Officer and Principal Officer of CompCare Wellness Medical Scheme answers this question while taking us through the value proposition
of one of South Africa’s top ten medical schemes.

Many South African healthcare consumers often mistakenly equate the value of a medical scheme to its supposedly free fringe benefits. When the time comes to put medical scheme benefits to the test, however, such schemes may often fall short leaving members exposed and disillusioned. The problem is that one seldom looks closely at your medical scheme benefits and what they offer until it is too late. Why not start off on the right footing for 2020 by asking yourself the following questions to determine where you stand with your medical scheme when it comes to value for money and piece of mind:
  • By how much did your medical scheme increase its contribution rates in recent years?
  • Did your scheme reduce or increase its benefits for 2020?
  • Is your medical scheme financially sound?
  • What would happen if you were to be diagnosed with cancer today?
  • Do your medical scheme benefits cover sport injuries and injuries sustained while participating in extreme sport?
As an innovative forward-thinking scheme, CompCare is not only known for delivering value for money but also for providing best practice health and wellness solutions and member-centric benefits. The scheme’s options, which cater specifically for the young, healthy and adventurous at heart, are attracting a younger, vibrant membership with an average age of 27. This is having a positive impact on the profile and overall sustainability of CompCare.

15 Reasons Why Compcare Offers The Ultimate In Value

  1. In 2020 CompCare will be implementing an average weighted increase of 6.5%, which is well below the recently reported industry average of 9.1%.
  2. The benefits of all CompCare product options across the board have been enhanced for 2010.
  3. CompCare offers an unlimited cancer treatment programme.
  4. We are one of few medical schemes to cover all costs relating to sports injuries, including injuries sustained when participating in extreme and adventure sports.
  5. With a range of 11 options on offer, it is as easy for an executive to choose the ideal product as it is for someone starting out and on a tight budget.
  6. CompCare’s current solvency ratio is a healthy 45%.
  7. Our wellness and preventative benefits are unparalleled in the South African healthcare industry and are widely recognised for being in a league of their own.
  8. CompCare was one of the first schemes to offer a prescription exercise benefit and a nutritional benefit to provide members with the opportunity to regularly consult accredited biokineticists and dietitians listed on the CompCare network.
  9. CompCare offers child rates until the age of 27.
  10. A leading medical schemes survey has consistently ranked CompCare among the top ten medical schemes in terms of longevity and sustainability.
  11. The scheme’s pioneering Efficiency Discounted options provide contribution savings of up to 20% and are available on all options with the exception of UniSave, Selfsure and SelfNET. These offer the same 2020 enhancements as CompCare’s standard range of options.
  12. Those looking for a market-leading hospital plan will find MedX and MedX ED to be a cost-effective way to protect members and their families from sudden and unforeseen medical emergencies. Benefits associated with more comprehensive cover, such as preventative care, active lifestyle programmes and post-rehabilitation benefits are included.
  13. CompCare is one of the most affordable schemes on the market today. Our latest new options UniCare and UniCare Extender, are specifically focused on further improving access for previously uncovered individuals and offer some of the best value in the industry for as little as R249 per month.
  14. The UniSave option provides comprehensive unlimited hospital cover, along with a flexible savings account, which can be used for day-to-day healthcare requirements at the member’s discretion.
  15. Smart product innovations have ensured that CompCare’s healthcare benefits have remained a cut above those of similar medical scheme products.

In Conclusion 

Finally, it is all-important for medical scheme members, particularly younger members, to rethink their priorities as healthcare issues left unaddressed in earlier years can seriously impact quality of life and overall health and wellbeing in later life. While everyone is aware of unexpected healthcare threats, they may see themselves as invulnerable. People often underestimate the financial implications that mishaps and ill health can have on their lives. Remember that healthcare bills relating to road accidents, sports injuries or serious illnesses can cost a king’s ransom. A shortfall in cover can therefore have dire health and financial consequences that can potentially remain with you for the rest of your life.

CompCare Wellness Medical Scheme is administered by Universal Healthcare Administrators (Pty) Ltd / Legal, Security & Privacy

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