Medical Aid vs Hospital Cash Plan
Elmarie Jensen of Genesis Medical Scheme.
Two types of insurance products that are often misunderstood are “Medical Aid” and “Hospital Cash Plan”. These two products are uniquely different from each other. Due to the high cost of hospitalisation, specialists’ fees and other associated medical expenses, it is important that policyholders understand the differences.
The table below explains the main differences between a “Medical Aid” and “Hospital Cash Plan”. It is aimed at providing information in general and may be used as a broad guideline for gaining understanding between these two products.
Please note that not all aspects have been covered above and the information provided is neither a complete report/analysis nor is it intended to flout or in any other way compromise the conditions set out in the Financial Advisory and Intermediary Services Act’s General Code of Conduct insofar as comparing different financial products with each other is concerned.
