As I’m sure you’ve read or heard, the annual changes to certain medical plans has been higher than anticipated. These were announced recently, and the Flagstone Group has been hard at work since then to assess where our clients could be experiencing better value elsewhere.
Medical Scheme benefits and contributions are constantly changing. Looking to 2017, Discovery Health clients on the Coastal options are some of the hardest hit. Coastal Saver contributions are going up by 7.9% with the portion going to savings dropping from 25% to 20%, while Coastal Core members will see a 14.9% increase.
Without having looked at all South African Medical Schemes we believe that Momentum Health’s Custom option (Associated Hospitals and State Chronic provider) may offer really good value for some our clients.
There are a few important points to note when considering this option:
- Only certain Associated hospitals are covered for planned, non-emergency procedures. Refer to the list of hospitals on page 24 of the 2017 Marketing Brochure for hospitals covered in your area.
- Chronic medication and treatment is only provided by State facilities. If you do not suffer from a chronic condition this is not a problem. If you do this probably isn’t the right plan for you.
- A number of in hospital procedures require a co-payment of R1,200 upfront. A good Gap cover product like Stratum Elite would reimburse this expense.
- In the absence of adding a Health Saver, Momentum Custom is essentially a Hospital Plan. Contributing to the Health Saver and participating in the Health Returns program can provide much needed Out of Hospital cover.
- If you have Discovery Life your premiums and benefits may be affected.
- A 3 month general waiting period may be imposed.
- Details can be found on page 8 &9 of the 2017 Options Brochure
Changing Medical Schemes is a big decision and shouldn’t be taken lightly. Before making the decision, read through the marketing material in the attachments and speak to me regarding your particular circumstances.
You can easily send me a message through the form on the side of this page!
