Medical Aid South Africa

medical insurance in south africa

Medical Aid South Africa

Medical Aid South Africa

In a constantly changing market it is essential to have comprehensive medical cover because private healthcare in South Africa is very costly.

Most people make the mistake of assuming that medical aid is medical insurance.

Yes, it is a form of insurance, but it differs in the following important ways:

• Firstly, medical aid societies are non profit organizations. Unlike typical commercial businesses, they are not structured to make a profit from the business they conduct. However, to protect members interests, medical aid schemes are required to retain 25% of their gross income as a hedge against future claims.


• Secondly, the industry is governed by a Government-appointed Regulator to ensure that trading practices are in the best interests of the members.


• Thirdly, schemes are governed by Trustee... http://motor-insurance.ucoz.com/news/medical_insurance_in_south_africa/2013-05-27-2575