What Is The Best Health Insurance In South Africa

What is Health Insurance?

Health insurance or medical insurance (also known as medical aid in South Africa) is a type of insurance that covers the whole or a part of the risk of a person incurring medical expenses. As with other types of insurance, the risk is shared among many individuals.

By estimating the overall risk of health risk and health system expenses over the risk pool, an insurer can develop a routine finance structure, such as a monthly premium or payroll tax, to provide the money to pay for the health care benefits specified in the insurance agreement.

What Is The Best Health Insurance In South Africa

If you’ve already decided that private health insurance is right for you, we recommend Cigna.

Helping more than 95 million customers all over the world, Cigna has the experience and expertise to get you just the right cover. Start building a customized plan with a free quote today.

How does private health insurance work?

Private health insurance providers in South Africa are regulated by the Medical Schemes Act, and healthcare packages are available for individuals and families.

In some industries, health insurance is offered as an employee benefit, with the costs shared between the employer and employee.

Some insurers prefer their customers to give notice before getting treatment, and your provider might offer rewards if you lower their likely liability by exercising or having regular medical check-ups.

With so many different options available, you must take your time to find the right provider; some have a better reputation when it comes to paying out than others.

Once you have signed up for a plan you should get a healthcare card; you will need to show this when applying to see doctors or specialists.

How much is health insurance in South Africa?

Prices of private policies will always vary and can be difficult to generalize, but on average, health insurance in South Africa can cost from R1,000 (£46) to R2,000 (£93) per month for a family of four. If you’re after comprehensive cover, or you’re above 55, you’ll probably need to pay a little more each month. 

There are ways around the price tag, however, with many companies, retirement groups, and other organizations offering lower rates. If you’re moving to South Africa for work, your company might cover the costs, since some employers offer to pay 50% of key employees’ health insurance costs.

Who needs health insurance in South Africa?

State healthcare in South Africa is primarily designed to help the poorest citizens, for whom primary services such as emergency treatment, clinic visits, and consultations with doctors are provided free of charge.

Workers in South Africa need to be paid a contribution towards the cost of treatment from doctors and in South African hospitals. The specific amount depends on how much they earn.

The South African healthcare system boasts both public and private hospitals. Expats and higher earners generally take out private health insurance to benefit from better conditions and shorter waiting times.

What is the biggest health insurance in South Africa?

Discovery is South Africa’s largest medical scheme and provides cover for approximately 2.8 million lives. It offers a choice of 23 Medical Aid options.

Premiums for a single member range from R968 to R7,688 and the Classic Saver is the most popular option. All options offer maternity and preventative-care benefits.

Is health insurance good in South Africa?

According to the 2019 Global Healthcare Index, South Africa’s healthcare system ranks 49th out of 89 countries. In that position, it’s the highest-ranked African country.