Financially strong medical schemes top of mind for consumers, survey finds

A recent survey has revealed that 80% of South African consumers regard the financial strength of a medical scheme to be as important as generous healthcare benefits.

South Africans choose healthy schemes

Steadily recovering from the effects of the global economic recession, many South Africans are still struggling financially. Now more than ever they need true value for money from a medical scheme that will be around for the long term. With the window period that allows private sector consumers to change medical schemes without liability closing mid-December, the majority of South Africans have ranked the financial health of a medical scheme as a top priority.

One of South Africa's largest medical schemes, Medshield, conducted a national member survey in August 2009 to determine the healthcare needs and priorities of South African consumers.

"The Council for Medical Schemes as well as Global Credit Ratings (GCR), one of Africa's top ratings agencies, monitor schemes annually and assess them according to specific financial and operational criteria," comments Medshield Chairman, Thabo Mabeta. He continues, "For the third consecutive year, Medshield has scored an AA- rating with GCR, the second highest rating a medical scheme can achieve."

Benefits vs. frills

The survey also revealed that only 35% of consumers prefer additional paid benefits such as gym memberships and discounted offers on movie tickets and groceries, whilst the vast majority agreed that comprehensive yet cost effective medical cover remains a non-negotiable necessity.

Claim is king

Consumers have also placed significant importance on all claim-related queries handled by medical schemes, such as the effortlessness and speed at which claims are processed, specifically those surrounding in-hospital benefits. Communication with members, whether written, electronic or verbal, is also important to consumers.

Mabeta concludes, "With over 100 registered medical schemes to choose from in South Africa, it is crucial for consumers to do their homework and find the best scheme to suit their lifestyle and their pocket."