Page 4 - TDA booklet 2017

Financial Solutions for Business Owners
Financial Solutions for Business Owners
Financial Solution for Business Owners

“Remember that your membership of professionals, and what your medical Sharon concludes by pointing out that
a medical scheme constitutes a legal aid will pay. actual hospital costs sometimes exceed
contract,” says Sharon, “and that it’s in medical scheme rates by five times,
your best interest to understand the “You may think that if you’re a member therefore gap cover remains crucial
terms and conditions of your contract.” of a medical scheme, you’re fully to help you pay for the shortfalls and
covered for all in-hospital expenses, to ensure you don’t suffer financially
Cover the gap but often, you’re not. In most cases, because of unexpected expenses.
There’s often a big difference between there’s a difference between what
the total cost of hospital procedures, a specialist charges and what your
certain out-patient services and the medical scheme covers.”
tariffs charged by medical

How to choose

medical cover

To avoid nasty surprises, it’s crucial to do your homework before deciding on a medical scheme.

Finding the most suitable medical in with what you currently have, and • Familiarise yourself with the said
scheme option for you and your decide whether the benefit richness benefits you are paying for, and
family can be tricky. Not only are as well as cost changes would still suit ensure that your family’s most
there many schemes to consider, your family’s healthcare needs,” important needs, such as doctor’s
but the myriad of options offered by she says. visits, chronic medication, optical
each can make it hard to compare needs, dental surgery, pregnancy
the benefit richness of an option “The next step is to get assurance and baby immunisation, are met.
with that of another. of the scheme’s financial soundness, • Note the conditions and/or benefits
as this is an indication of its ability that your medical option doesn’t
“It is vital to ask the right questions to pay claims. The average age of its cover – for example, certain Contact: Sanlam Business Market
before making a decision,” says members is also a determining factor, procedures – as well as co-payments Tel: 0860 100 539
Sharon Rubens, Managing Director of as this represents the risk and claims and/or exclusions. Email: sme@sanlam.co.za
Completemed Healthcare Consultants, pattern of the scheme.” • Also pay attention to how each www.sanlamsme.co.za
an independent brokerage wholly scheme classifies dependants over
owned by Sanlam Life. Checklist the age of 21 – for example, students
• Decide how much you can afford to – and whether there is a difference
“Start by comparing the benefits for spend on medical scheme cover for in the monthly premiums for specific
2018 of the scheme you’re interested yourself or your family. dependants.