September and October are traditionally the time when medical schemes announce their new rates and benefits for the next year.
This is also the time when you, the member, must decide whether you want to up- or downgrade, stay on the same option, or even change medical schemes. It is important to keep the following in mind during the next few months:-
1. Once your medical aid has launched their new products, they will mail you the new rates and benefits – if you have not received anything by mid-November, please contact your medical scheme. You cannot plead ignorance when your contribution goes up in January – your medical aid scheme will say that all members were notified of the increases via the postal system.
2. If you are looking at changing medical schemes, keep in mind that you could be subject to waiting periods and / or exclusions – even if you are currently on a medical scheme!
3. We would strongly urge you not to make changes to your Medical Aid without discussing them with a Financial Advisor who is accredited to provide you with advice on your medical scheme.
A qualified Financial Advisor understands the benefits and pitfalls of each medical scheme, and will advise you on which scheme and option would be best suitable for your specific needs.
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By: Vanessa Roux
Financial & specialist medical aid advisor
