What is Health Insurance?
A health insurance policy is an assurance that provides immediate financial help when any medical emergency arises.
It is a contract between a policyholder and the insurance company which covers medical expenses that might occur due to illness, injury, or accident.
If you have a health insurance policy, then the insurance company will bear some or all the medical expenses, against which an insured is supposed to pay a certain amount known as a premium.
Top Health Insurance Companies In South Africa
Momentum
Momentum offers 6 health insurance packages that range from wonderfully affordable at under R500 per month to pricey at upwards of R10 000 a month.
There’s something here for everyone: on the cheaper end of the spectrum, you can get unlimited coverage for private hospital visits where all the essentials such as specialist visits, rehabilitation, and emergency caesareans are covered.
There’s also care for common severe, ongoing conditions, doctor’s visits, prescribed medications and emergency evacuations. The premium package includes ongoing hospital care with no annual limit for many conditions, a long list of covered chronic conditions, plus eye and dental care.
Discovery
All plans offer unlimited hospital cover. They also help out with chronic disease management, but certain plans cover a wider range of conditions than others.
Then there are plans that cover screening and prevention, plans that allow you extra daily cover or optometry and dentistry expenses, traveling plans and plans tailored around maternity and early childhood.
Prices range from just under R1000 to upwards of R7000.
Bonitas
According to the website, Bonitas has “the largest GP and specialist network in South Africa”. They also offer thirteen different plans. These range in price from just over R1000 to upwards of R7000.
Nearly all plans include a “baby advice line” where you can obtain free medical advice for kids under the age of 3. Bonitas’ plans are divided into 4 categories.
Their Traditional category gives you set limits for a variety of expenses, including hospital, GP, optometrist and dental visits.
Expenses like paramedical assistance, medication, hearing aids, blood tests, x-rays, contraception, maternity, baby care, chronic care and preventative care may also be covered, depending on the plan.
Medihelp
Medihelp simply offers 4 plans. The prices are variable depending on what you want out of your plan, but each one starts at a ridiculously affordable price.
Everything on the website is wonderfully straightforward. It’s easy to navigate your options and make up your mind.
Their most basic plan – the student plan – starts at just under R600 and covers day-to-day expenses plus chronic illnesses and hospital visits. You get extra – including screenings and pregnancy care – for an additional price.
Medshield
According to its website, Medshield is “one of South Africa’s largest, fastest-growing and most established medical aid schemes.”
They have seven highly varied plans to pick from. These range from under R2000 to around R6000.
Here’s the rundown: the PremiumPlus plan is ideal for families with average to good health – hospital expenses are covered, and you get a savings account for paying for daily medical expenses.
The MediSaver plan is similar but has an out-of-hospital maternity addition. The mediocre plan offers unlimited hospital cover, but you cover daily expenses yourself, so it’s ideal if you don’t need to see a medical care provider frequently.
What is the biggest health insurance in South Africa?
Discovery Health is South Africa’s largest medical scheme administrator and managed care provider, managing over 39% of the total membership of South African medical schemes.
Non-medical scheme-related products such as gap cover, Flexicare and Healthy Company are also offered.