Medical and GAP cover schemes are announcing steep contribution increases for next year, with most medical aid provider increases ranging from 10% to 17%. The average open medical scheme increase for 2017 is 10,43%. In addition, members with gap-cover insurance for the difference between what their scheme pays and what a doctor charges for an in-hospital procedure may see their premiums increase by as much as 31%. The increases have been attributed to:
- A huge increase in claims for medical services this year which has also put pressure on GAP cover schemes to make up shortfalls in claims.
- Abnormally high hospital admissions in the coastal areas, hence Discovery’s Coastal Core range increase in premiums is 14,9%.
- Higher proportion of older and sicker members.
- Increasing prevalence of chronic illnesses.
- Healthcare costs increasing by far higher levels than inflation.
At the end of each year clients have the option to choose what plan they would like to be on for the following year. It is important for clients not to just choose their options on price but on the cover, that is most needed by them and the members of their family. One should apply one’s mind and careful consideration and thought should go into this decision.
If you feel that you need advice and help in order to make an informed decision, please don’t hesitate to contact us to set up an appointment so that we can assist you.
