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Insurance coverage exists in the contemporary world because there is a need for it, it is that simple. However, insurance cover of any kind costs money and could potentially be a further expense that an individual may well not be in a position to afford. This being the scenario, is it genuinely necessary to have health insurance coverage as well as medical aid?

Some folks take a belt-and-braces attitude towards life meaning that that they prefer to take extra measures so that it the belt comes loose, metaphorically-speaking, the braces continue to keep the trousers up. Therefore with regards to the issue of health care, a person like this would most likely be in possession of health insurance coverage and also belong to a medical aid plan. Although it might seem that a person with this type of approach to medical protection is being excessively careful by possessing both health insurance and medical aid, they could well have got a valid reason for doing so.

The days are gone when our comprehensive medical aid plan covered all our health-related expenses without us ever having to pay for something out of our own pocket. Nowadays, we might find ourselves having to pay a levy for the medication we receive from the pharmacist or even fork out for the total sum if our medical aid savings have are depleted. Moreover, in Southern Africa, if your physician or specialist charges in excess of the current medical aid rate then you’ll have to pay the excess. These are only two instances of when you may have to fork out of your own pocket for medical costs but these serve to illustrate the point that being a member of a medical aid plan these days does not necessarily mean that you are 100 % covered financially.

The primary purpose of health insurance coverage is to take care of this sort of monetary shortcoming and can be extremely useful when you are critically ill or in a healthcare facility for a long time, for example. The last thing you need at times like this is to be tormented by escalating bills that you will have to pay when your medical aid allocation has run out. Extra health insurance coverage is also very beneficial when you have a dread disease as medical expenses for this are often high and ongoing when there’s a need for prolonged treatments. What is more, insurance plans pertaining to dread disease coverage are usually tailor-made to the exigencies of a particular disease and are often more suitable and useful in these conditions than a regular medical aid scheme.

It can also be helpful to possess health insurance coverage in combination with belonging to a medical aid scheme because health insurance plans will usually pay you a specific sum of cash. You can use this cash to cover medical expenses although it does not always need to be employed for this. The cash could be used to defray household expenses, for instance, in case your loved ones are struggling because you’re in hospital and cannot earn income. Medical aid schemes, on the other hand, will typically pay your medical bills or refund you when you’ve already paid medical practitioner directly instead of giving you money with which to pay your bills, health-related or otherwise.