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What sort of increase are you expecting from your medical aid scheme for next year?

5%?…10%…15%…more?

Well, if you belong to Discovery Health, I have some good news.

Definitely the biggest insurance event every year, is the annual Discovery Day.
I don’t know if you’ve ever been to one of those multi level marketing events where they hype you up so much that you just can’t wait to sign up? The Discovery Day has much the same feel. Think Durban July, and you’ve pretty much got an idea of the excitement around this.

But if you’re not one for all the hype and the glamour, when it comes to gizmo’s and gadgets, Discovery definitely leads the pack…the mind boggles at what they come up with.

But, over the years I’ve become so used to hearing them say 10% for next year, that I assumed the same would happen for next year – but, boy, was I wrong!

8, 6% is what Discovery Health’s average increase for 2016 will be

Now that’s their average. Some plans are going to have less of an increase while others will have slightly more – some a lot less, and some not much more.

Here’s how the increases compare:

Executive8, 9%
Classic Comprehensive8, 9%
Classic Comprehensive Zero MSA8, 9%
Essential Comprehensive8, 9%
Classic Priority8, 9%
Essential Priority8, 9%
Classic Saver7, 9%
Essential Saver7, 9%
Coastal Saver8, 9%
Classic Core7, 9%
Essential Core7, 9%
Coastal Core8, 9%
KeyCare Plus8, 9%
KeyCare Access8, 9%
KeyCare Core8, 9%

So how much more will you be paying next year?

Well let’s take it plan by plan to give you an idea. In this article I’m going to exclude the KeyCare options in order to keep the article short.

The Executive plan

Executive 20152016
Main MemberR4, 547 R4, 953
AdultR4, 547 R4, 953
ChildR    863 R    942

The Comprehensive plans

Classic Comprehensive20152016
Main MemberR3, 696 R4, 026
AdultR3, 496 R3, 809
ChildR    737 R    802
Classic Delta Comprehensive20152016
Main MemberR3, 329 R3, 626
AdultR3, 149 R3, 432
ChildR    662 R    721
Classic Comprehensive Zero MSA20152016
Main MemberR2, 772 R3, 020
AdultR2, 622 R2, 857
ChildR    553 R    602
Essential Comprehensive20152016
Main MemberR3, 105 R3, 383
AdultR2, 936 R3, 198
ChildR    625 R    681
Essential Delta Comprehensive20152016
Main MemberR2, 796 R3, 047
AdultR2, 642 R2, 877
ChildR    561 R    611

The Priority plans

Classic Priority20152016
Main MemberR2, 478 R2, 700
AdultR1, 950 R2, 125
ChildR    992 R1, 080
Essential Priority20152016
Main MemberR2, 130 R2, 321
AdultR1, 672 R1, 822
ChildR    850 R    925

The Saver plans

Classic Saver20152016
Main MemberR2, 172 R2, 344
AdultR1, 710 R1, 846
ChildR    869 R    938
Classic Delta Saver20152016
Main MemberR1, 734 R1, 872
AdultR1, 368 R1, 476
ChildR    697 R    752
Essential Saver20152016
Main MemberR1, 725 R1, 862
AdultR1, 294 R1, 397
ChildR    690 R    745
Essential Delta Saver20152016
Main MemberR1, 378 R1, 487
AdultR1, 036 R1, 118
ChildR    552 R    596
Coastal Saver20152016
Main MemberR1, 710 R1, 862
AdultR1, 282 R1, 397
ChildR    688 R    750

Brand new for 2016 – the **Smart** plan

Smart2016
Main Member R1, 397
Adult R1, 099
Child R    557

The Core plans

Classic Core20152016
Main MemberR1, 617 R1, 745
AdultR1, 272 R1, 373
ChildR    646 R    698
Classic Delta Core20152016
Main MemberR1, 294 R1, 397
AdultR1, 018 R1, 099
ChildR    517 R    557
Essential Core20152016
Main MemberR1, 389 R1, 499
AdultR1, 040 R1, 123
ChildR    557 R    601
Essential Delta Core20152016
Main MemberR1, 110 R1, 198
AdultR    833 R    900
ChildR    445 R    480
Coastal Core20152016
Main MemberR1, 195 R1. 302
AdultR   896 R    976
ChildR   477 R    519

Bob’s your uncle…There you have it. Increases this low point to a healthy scheme.

Over the coming weeks we’re going to be focusing on medical aid. It’s that time of year where you need to decide on a plan choice for next year.

Some of the questions you need to ask are:

  • Did I spend too much on a medical aid which I never fully used?
  • Did I spend too little on a medical aid resulting in having to make co-payments for procedures or running out of savings early in the year?

We’re going to tackle all of this in the week’s to come.

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Until next time.

The InsuranceFundi Team

 

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