|Type of cover
|Traditionally, pays out a lump sum for each day spent in hospital.
|Provides unlimited in-hospital cover. In some instances, a yearly limit can apply.
Can also provide cover for day-to-day medical expenses.
|Extent of cover
|Provides in-hospital cover only. Pays out a set amount for each day spent in hospital. This amount won't differ, regardless of the type of treatment that's required or which healthcare provider you use.
|Provides in-hospital cover and pays for treatment according to the cost of the condition which you may suffer from. Depending on the chosen option also provides cover for day-to-day medical expenses.
|Payment for in-hospital expenses
|Payment is made directly to you and you must settle your own accounts. The reimbursement can be used to pay for the cost of medical treatment or to pay for other daily expenses while in hospital.
|Payment is usually made directly to the hospital and/or service providers.
|Medical Insurance is usually slightly cheaper than Medical Aid.
|Medical Aid is usually more expensive than Medical Insurance but includes more benefits/cover.
|With Medical Insurance, potential members can be turned away. The monthly contributions are calculated based on risk and the potential member's age, health status and/or income are taken into account.
|Anyone can belong to a Medical Aid and the monthly contribution is the same for all members regardless of age or health status.
|In an emergency/accident, you'll first have to pay a deposit before you're admitted to a private hospital.
|In an emergency/accident, you'll immediately be taken to one of the hospitals in the medical scheme's network.
|Cover for Prescribed Minimum Benefits (PMBs)
|The law does not require Health Insurance providers to include cover for Prescribed Minimum Benefits (PMBs).
|Prescribed Minimum Benefits (PMBs) refers to a list of approximately 270 medical conditions that medical schemes need to cover in full, regardless of the particular plan you're on.
|Some Health Insurance providers also include Funeral Cover, and personal accident and disability cover.
|Medical Aid schemes are not authorised to include Funeral Cover or personal accident and disability cover.
|No tax benefit.
|Medical Aid contributions are deductible for tax purposes.
|Short-Term Insurance Act
|Medical Schemes Act
|Financial Services Board
|Council for Medical Schemes