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Private Health Insurance Plans

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Home Page > Finance > Insurance > Private Health Insurance Plans

Private Health Insurance Plans

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Posted: Jan 17, 2011 |Comments: 0
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You buy private health insurance for the same reason you buy other types of insurance - to protect your family. You cannot predict when you may need medical care. In good times, medical costs may be low; but if you or someone in your family becomes ill, bills can easily pile up. When dealing with an illness, cost is the last thing you want on your mind. Without medical aid, a serious injury to you or a member of your family could lead to financial ruin.

Every year the cost of health increases dramatically, simple surgeries, blood tests and emergency room visits can add up to thousands of Rand for doctor and hospital bills. A health plan is important for both individuals and families because it relieves the burden of any unexpected medical emergencies. In exchange for private health insurance cover the insurance company charges a monthly fee called a premium. Health insurance provides you with the means to look after yourself and your family, without worrying about the cost of medical care.

There are two main options to consider when it comes to health insurance, namely fully comprehensive or medical aid and entry-level or hospital plans. Medical aid is fully comprehensive private health insurance because it provides indemnity cover for all medical claims including doctor, hospital, medicine and laboratory expenses. A hospital health plan is entry-level private health insurance because it provides indemnity cover only for hospitalisation and surgery related expenses with fewer or no allowances for day-to-day costs. There are also a number of medium cost, medium benefit health insurance plans that fall between comprehensive medical aid plans and hospital health plans.

Each type of health insurance has different advantages. For example if you are a young, fit adult, a hospital health plan may be a sound option in terms of cost and your minimal medical aid requirements. Whereas an older, married person with children might upgrade their medical insurance cover to include additional medical plan benefits.

The benefits of dealing with a PSG Konsult health insurance broker include:

Comprehensive Assistance - We analyse your medical requirements and identify the health insurance plans and option best suited to your needs.
One Application - You only need to submit your details once to get several private medical insurance quotes.
Convenience - Because your time is valuable, we will compile the application with the necessary information on your behalf and will provide you with comparative quotes for similar products from different service providers.
Leverage - Being able to compare one medical insurance plan with another offer gives you peace of mind to make a well informed choice.
Objectivity - Because we are not aligned with any particular medical aid provider, our neutral position means we give advice on the best suited health plans.
Affordability - We add value to health insurance through products, tariffs and excess structures that are unique to us and very competitive in the marketplace.
Expertise and experience - Our broker support network which exceeds 200 branches countrywide supports a wide variety of additional products and other financial services.

We offer a holistic medical aid and health insurance approach to employer groups and individuals alike, providing comprehensive advice on medical insurance cover, niche products and wellness initiatives.

Healthcare is an extremely complex and specialised industry making it difficult to compare hospital plans and private health insurance costs and benefits. So, whether you have a company that requires a medical aid scheme for employees, or you are an individual who needs a health plan, we can provide advice for appropriate and cost effective medical insurance.

source: http://www.psgonline.co.za/insure/medical-aid.php

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Psg Online -
About the Author:

PSG Online offers you the unique ability to access the products and services from various financial institutions, consolidated into one PSG Online portfolio. With one login, on one platform, you can manage your wealth creation and protection strategies - benefiting from the investment expertise of several fund managers, a wide variety of trading products and a wide selection of South Africa's premier insurers. We make it easy for you to transact online and manage your financial well-being in the ultimate comfort of 24 hour access. Trade, invest, insure and plan your life through our online platform or join forces with a professional financial advisor to achieve your financial goals.

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Article Tags:
medical aid, health insurance, medical insurance, health plan, private health insurance

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Tuesday, May 17, 2011

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