2025 Healthcare Plan Review

The period from October to December is crucial for reviewing your medical aid options and adjusting, where necessary. Medical schemes, health insurance providers and gap cover companies typically announce their 2025 premium adjustments and benefit changes during this period.

What to consider when reviewing your plan

When evaluating changes to your medical scheme or health insurance, it is important to look beyond costs. Factors to consider include:

• Pre-existing conditions and your general health.
• Planned medical procedures
• Dependants’ health needs.
• Claims history and potential future medical requirements.
• Changes in dependants.
• Budget and affordability.
• Inclusion of Gap Cover for additional expenses. Also evaluate the long-term financial implications of waiting periods, late joiner penalties, and network restrictions.

Should you wish to downgrade your medical aid option, keep in mind the potential impact on your healthcare cover, especially for future treatments.

Also, assess the level of unexpected medical expenses you are comfortable with and whether you need comprehensive coverage or just a Hospital Plan.

It is advisable to seek financial advice, as medical aid benefits are a vital component of your financial portfolio, and any shortfall could directly affect your financial stability.

Melessia Naidoo

Head: Finance

References

“MSN.” Msn.com, 2024, www.msn.com/en-us/money/insurance/2025-healthcare-plan-checklist-balancing-coverage-and-costs/ar-AA1s68vo?ocid=BingNewsSerp. Accessed 29 Oct. 2024.