No. All our benefit options provide significantly more coverage than the basic cover that are provided on some of the income-based options in the market.  Genesis contributions are therefore not based on monthly salary bands and, depending on the selected benefit option, all adult members pay the same monthly contribution.

Cheap medical aid cover may be available on certain income-based medical cover options from some of the other medical aid schemes in South Africa.  Although income-based medical aid options in South Africa can be good choices, their suitability depends on your healthcare needs, budget and expectations.

No. Genesis is a medical scheme registered during May 1995 in terms of the Medical Schemes Act.

As with all medical schemes, Genesis is owned by all its members. Members elect Trustees who act on their behalf. The Trustees form the management committee of the Scheme and are elected to serve in the best interest of all the members.

Yes. Membership of Genesis is open to any person who is a citizen of South Africa or permanently residing in South Africa.
Foreign students wishing to study in South Africa and who wish to apply for membership in order to get a visa, are not eligible for membership of the Scheme.

YES.  A new generation medical aid scheme differs from a traditional scheme in that the scheme is primarily concerned with the costs associated with in-hospital treatment and procedures. Most out-of-hospital medical costs are paid from your day-to-day credit facility via a Self Managed Fund (SMF).

Essentially out-of-hospital costs are for your account and the Scheme merely provides the credit facility and administers the claims on your behalf.

As a member of a new generation scheme, you are responsible for managing most of your out-of-hospital medical cover and costs, while the Scheme provides for the higher costs associated with hospital care.

The Medical Schemes Act prevents medical aid schemes in South Africa from borrowing money. It follows that no medical scheme has financial backing. The success of a scheme is dependent on various factors, including the structure of its benefits, pricing of its premiums, management of its day-to-day activities, the risk of its members and its solvency reserves.

All medical schemes maintain a pool of funds that is used to pay claims. The success of any scheme lies in the ability of a scheme to maintain that pool of funds at a level that is sufficient for its members’ claims.

In South Africa, medical schemes are legally required to maintain a minimum solvency level of 25% of their annual contributions  –  this is stipulated in Regulation 29 of the Medical Schemes Act.

No. Medical aid schemes in South Africa do not provide medical insurance.  Medical scheme cover and medical insurance are two different types of healthcare cover, they are governed by different legislation and they serve different purposes.

Medical aid schemes are regulated by the Medical Schemes Act (Act 131 of 1998) and are governed by the Council for Medical Schemes (CMS).  Medical schemes have non-profit risk pools where members’ contributions are used to pay for medical expenses according to the schemes’ registered rules.  Medical cover typically includes cover for chronic conditions, hospitalisation and day-to-day benefits (depending on the plan).  Membership may not be refused due to age or health status.

Medical insurance, on the other hand, is regulated by insurance legislation (e.g. Short-term Insurance Act or Long-term Insurance Act) and are governed by the Financial Sector Conduct Authority (FSCA).  Medical insurance products are commercial insurance products that pay out a fixed amount (e.g. R5,000 per day in hospital).  It is not intended / designed to fully cover actual medical costs.  Products are usually limited to hospital insurance plans, gap cover, or accident-only cover.  Membership may be refused based on age or health status.