31/10/2018
Salaries not keeping up with medical aid increases
Medical aid increases have not been keeping pace with salary raises, according to the eights GTC Medical Aid Survey.
The financial services company, formerly Grant Thornton Capital, publishes the annual survey to assist its own consultants, financial planners, and medical aid members to decide on the best plan to suit their pocket and needs.
"The effect of these increases will continue to place pressure on members to downgrade plans or cancel their medical aid cover altogether, in search of an alternate medical insurance to cater for their most pressing needs," warns GTC Healthcare broker Jill Larkan.
Larkan also said the National Health Insurance (NHI) and amendments to the Medical Schemes Bill were "inevitable". In South Africa, there are 8 million medical aid members, while 45 million people not covered by any form of private health insurance.
With 2019 medical aid increases yet again upon all South Africans, times are certainly tough.
Whether you are an existing Medical Aid member or a new member, making sure you have selected the right plan and benefits for you and your family is an important decision to make.
Making this decision requires careful consideration and an understanding of all available benefits, as you are generally only able to make this selection once a year.
Please contact Wessel Sevenster on 061 2205619 for more information and a free analysis.
Local business
