What does Genesis MED-100 hospital plan offer that most don’t?
It all started with a bet.
Well, not really.
It started when I had a little run-in with the Marketing Manager at Genesis Medical Scheme.
I mean, who’s ever heard of Genesis Medical Scheme?
And why is their MED-100 hospital plan so cheap compared to all the other hospital plans in the industry? Yes, any Tom, Dick and Harry can offer dirt cheap insurance, but what happens when the time comes to pay?
Are you starting to see where the whole bet thing came in? Because of losing that bet, I undertook to write four articles. Right now you’re reading article three.
Article two dealt with the Genesis MED-100 hospital plan and the fact that it offers the best value for money when compared to 17 other hospital plans. That article ended off with my friend asking: “Where do I sign up?” I replied, “Hang onto your underpants, mate. You know these guys –
promise you dental benefits and then pay for one filling a year.”
Off I went to harass Elmarie again: “So what does basic dentistry benefits actually mean? I bet…” (You’d think I’d have learnt by now not to use the ‘bet’ word).
She sends me to their hospital plans with dental benefits page. Turns out that – of the about 40 hospital plans on the market – Genesis MED-100 is one of a handful (Yip, that’s about 6 or so plans!) which offers rich dental benefits.
So I ring up my friend and give him the news
“Still remember wanting to sign up for the Genesis MED-100 medical aid plan but I said hold on?”
“Yip.”
“Turns out they’re offering a little more than you’re getting now.”
Here’s what you get for your R1,465 a month:
You get three (3) dental oral examinations per person per year. Works for me – I go twice a year and that’s half my savings gone. Six (6) fillings (Well how many do you need?) Unlimited extractions (Why didn’t I find this out earlier? I’ve just paid R2, 500 to have a molar extracted) Six (6) plain X-rays Two (2) root canal treatments (Who doesn’t think big bucks when they hear the words ‘root canal’? Never-mind big bucks, what about big pain?) Crowns, bridges or dentures – limited to R5,250 per year Surgical removal of impacted wisdom teeth In hospital extractions and fillings for children under 9 years – limited to R10,000 (once in a lifetime) One (1) scale and polish
One (1) dental implant – limited to R10,000 per three (3) year financial year cycle of membership.
I don’t even get this on the plan I’m currently on, and I’m not on a hospital plan. Everything comes out of my savings.
And can you use any dentist?
Any registered Dental Practitioner. But remember that the most they’ll pay is the Genesis medical rate. If your dentist charges double that rate, well then pull out your chequebook.
But look at it this way
My friend gets to pay everything out of his pocket anyway, and now that I think of it, so do I.
If I was paying R1,776 (R21,312 a year) for a hospital plan with absolutely no dental benefit versus R1,465 (R17,580 a year) for a hospital plan with dental benefits, which option would you recommend?
I’ve got one last catch for Elmarie.
It’s easy to offer what sounds like best money for value, but how does Genesis Medical Scheme compare when it comes to their finances?
Medical aid schemes are sinking faster than the Rand against the Dollar. Let’s face it.
- Wouldn’t you rather belong to a strong scheme with hundreds of thousands of members than
- one with a few thousand members and struggling to keep head above water?
In our final article I’m going to corner her on this. There’s absolutely no way a small scheme can compete with a massive scheme.
You’re with me on this one, right?
Think about it, could Joe’s corner cafe compete with Shoprite Checkers, Spar, or Pick n Pay?
Article written by Insurance Fundi. Passionate about making insurance fun & interesting in simple English
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