We’ve all experienced an unforeseen medical emergency that wasn’t planned for, a bout with asthma that racked up thousands in medication costs, or an unfortunate blow from a hockey stick (which always seems to happen afterhours or on the weekend!)
Many of us find it difficult to make sense of all the information at our disposal in order to make an informed, responsible and financially savvy decision when it comes to medical aid cover. For most South African’s costly comprehensive schemes remain a luxury, and careful consideration needs to be given to ensure that our health and the health of our loved ones is responsibly taken care of.
In short, we have the following types of schemes available:
- Medical Aid – perhaps the most comprehensive option, which offers a range of hospital cover as well as encompassing day-to-day cover.
- Medical Aid Saving – generally used to cover your day-to-day medical costs such as GP visits, medication and dentistry.
- GAP Cover – a type of insurance to cover any shortfall between what your medical aid will pay for a hospital procedure and what the hospital and its specialists actually charge for those services.
- Medical Insurance – this is intended to cover loss of income whilst you are in hospital and can include funeral and disability cover.
But what if you are looking for an option that doesn’t actually cost you any money until you encounter an unforeseen whopping pharmacy bill or an emergency visit to the dentist?
Enter MediWallet, a credit provider within the medical field which offers up to R40 000, covering any GP visit, dentistry, medication or even vet bills. Your specialist will be paid upfront while you have an opportunity to settle the fee over a period of 18 months, with no penalties should you pay it up sooner. The cherry on the top is MediWallet aims to be 2% cheaper than credit card interest rates. [*Pricing subject to interest rate changes].
Unlike the kinds of savings plans that provide limited spending annually, which, if not spent is not carried over, MediWallet only comes into play once you actually need it. When times are good, you can pay for any unexpected medical fees out of pocket, and when times are tight, and you need a hand, you won’t be left in the lurch. You’ll be able to cover unforeseen fees, or costs that are beyond you in that month, and pay them off over a longer period of time. For example, a spend of R5,000 for a dentistry procedure will cost you R353 per month over 18 months. *Subject to change.
With luck on your side, you won’t have to dip into your Mediwallet at all. But what it gives you regardless is peace of mind - certainty that should you land up with a serious condition, you will be able to pay up front for the finest treatment and then pay it back over a manageable period of time.
Combining options can be the answer, and one useful and affordable combination is that of a Hospital Plan along with a MediWallet Account. With these two options, expenses incurred during hospitalisation are covered, and any day-to-day costs that are more than you can fit into your budget can be taken care of with MediWallet and paid off over time.
There are no waiting periods, restrictions, category limits, no hidden fees and best of all no cash up front. Anyone can apply for MediWallet, as long as you are between the ages of 18 and 65, and earn a minimum of R5 000 per month (Ts&Cs apply). Pre-approval is given within 30 seconds. You can use it at your discretion to cover any out of hospital medical expenses, doctor’s visits or medication; and there is no claim process involved, MediWallet pays your medical or veterinary practitioner directly.
What are you waiting for? Sign up here today https://www.mediwallet.co.za/
Date Published: 10 December 2018