cost of hospital plans 2022

Cost of the top 7 hospital plans in South Africa in 2022

In this article we will take a closer look at the cost of the top 7 hospital plans in South Africa in 2022. *

Given the current challenging economic climate, the medical schemes industry in 2022 could experience an increase in member resignations.  People can simply no longer afford expensive medical aid cover.  Many medical aid members are currently looking at more affordable medical aid cover.

Landscape in 2022

Towards the end of 2021, the Council for Medical Schemes (CMS) recommended that medical schemes must consider limiting their increases for 2022 to 4.2%.  Most medical schemes have however announced higher contribution increases. Some schemes have chosen to defer contribution increases by a few months in an effort to provide some sort of financial relief for members.  Other schemes, including Genesis Medical Scheme, managed to keep their annual increases below the recommended increase.

Consider your private healthcare options

According to the latest South African Customer Satisfaction Index for medical schemes, 2022 may see significant shifts of members to lower-cost benefit options.  Members try to balance value, quality, necessity and affordability.

Hospitalisation costs may run into the hundreds of thousands or even millions of Rands. It is therefore important to make sure that you have sufficient risk cover in place (i.e. hospital and related costs). As day-to-day expenses can be managed separately on an as-and-when basis, more and more people are considering good value-for-money hospital plans.

Choosing a hospital plan

Choosing the right hospital plan can however be a difficult decision. There are currently 18 open medical schemes in South Africa, offering close to 40 hospital plans. Each hospital plan in turn offers its own unique basket of benefits.

What is covered by a hospital plan?

Hospital plan benefit options provide cover for treatment when a member is admitted to hospital. Hospital and related accounts, such as theatre costs, X-rays, medication, blood tests, blood transfusions, etc., are usually covered in full.

Doctors’ and specialists’ fees will be reimbursed at the medical scheme rate, i.e. 100% or 200%. Shortfalls relating to treatment received in private hospitals usually pertain to the charges of attending doctors / specialists if they charge more than the rate which is covered on your medical aid benefit option.

Cost of the top 7 hospital plans in 2022

Based on the results of the most recently published GTC Medical Aid Survey*, the top 7 open medical scheme hospital plans in South Africa are listed below (in price order of single adult contributions for 2022). The table also lists the cost of 2 adults + 2 children.

Source for monthly contributions:

  1. Comparemed
  2. https://www.dailymaverick.co.za/article/2021-10-20-how-much-more-will-you-pay-for-your-medical-scheme-next-year/#:~:text=Dr%20Ryan%20Noach%2C%20CEO%20of,2021%20and%205.3%25%20during%202022.

Do your homework well

Whilst the above hospital plans ranked top in the GTC survey, they may not be suitable for everyone.  These plans may be better suited for younger and healthier people who want to have peace of mind knowing they will be covered for unforeseen hospital admissions. These affordable hospital plans may not provide sufficient cover if you require comprehensive healthcare cover or treatment.

Join a Genesis Hospital Plan today!

Our hospital plans will cover you in hospital for planned and emergency hospital admissions.

Doctors and specialists are covered at 100% of the Scheme Tariff on the Private Choice option and at 200% of the Scheme Tariff on the Private option.

Click here to find out more and join Genesis today!

 

Please note: The information provided herein is for information purposes only and is not intended to flout or in any other way compromise the conditions prescribed in the Financial Advisory and Intermediary Services Act’s General Code of Conduct insofar as comparing different financial products with each other is concerned. Nothing herein contained is intended to be advice and any uncertainty regarding anything said should be referred to an accredited financial advisor.