So what does Genesis Private Choice 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 Private Choice so cheap compared to everyone else? Yes, any Tom, Dick and Harry can offer dirt cheap insurance, but what happens when it comes time 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 Private Choice 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 benefit 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 2015 page. Turns out that – of 40 hospital plans on the market – Genesis Private Choice 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 Private Choice medical aid plan but I said hold on?”
“Turns out they’re offering a little more than you’re getting now.”
Here’s what you get for your R900 a month:
First of all, they’ll pay up to R25, 000 per beneficiary in a year. So if you have a wife and child you’d be looking at R75, 000 for the year. Sounds like a lot to me, but anyway, who am I to argue? But remember that the spouse and child isn’t included in the R900 a month. R900 a month is for the main member only.
Then you get 3 consultations per year per person. That’s 9 consultations for a family of three. Works for me – I go twice a year and that’s half my savings gone.
Unlimited 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)
Unlimited root canal (Who doesn’t think big bucks when they hear the words ‘root canal’? Never mind big bucks, what about big pain?)
2 crowns a year limited to R2, 500 per crown
Surgical removal of impacted wisdom teeth
In hospital extractions and filling for children under 8 once a year limited to R9, 000
From 2016 Genesis is adding a denture benefit limited to R3, 000 per person
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 dentist you want. 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, 100 for a hospital plan with absolutely no dental benefit versus R900 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 InsuranceFundi. Passionate about making insurance fun & interesting in simple English