Medical Aid

The medical schemes act provides good protection for senior citizens
As you age, your healthcare costs generally increase quite significantly.
South African medical schemes are not permitted to charge higher contributions based on age. This means that younger members of the medical
scheme contribute the same amount for the same cover as older members.
In your senior years this usually means that medical scheme contributions can be much less than the cost of the healthcare you actually use. For older members, therefore, the cover offers exceptional value for money.

To benefit from this system you must have been a member of a medical scheme from a younger age or you may have to pay “late-joiner fee”.

Medical schemes may assess risk and use risk management to protect funds
Be aware that applying for membership of a scheme later in life, can affect when you may start claiming may claim for healthcare costs. Late-joiner fee can be from 5% up to 75%, worked out on part of your contribution and based on how long you have not belonged to a registered scheme after the age of 35. The fee formula is a standard calculation. This fee is to make up for not contributing to the medical scheme from a younger age and will apply for the duration of your membership.

Before you accept the terms, the medical scheme will also explain whether they applied a late joiner fee or waiting periods to your membership.

Choose the best healthcare cover that you can afford!
Medical schemes offer different options to cater for varying healthcare and affordability needs. In choosing your healthcare cover, you must consider what you can afford in order to get the best cover for your unique healthcare needs. Contact a financial adviser for the best advice on healthcare cover.
Alain Peddle, Head of Research and Development, Discovery Health

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Important. aims to supply
senior citizens with broad based
information and provide them with easy links to access medical information.

At no stage is this information intended
to be a substitute for professional
medical advice and you are urged to always consult with your doctor or
other medical healthcare expert about
your condition.