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Tell us how much KeyCare will cost next year?

If I hear this question again, I’m sending my bulldog in! 

A week or two back I wrote on what you’d pay at Discovery Health in 2016. What I didn’t do in that article, was include Discovery Health KeyCare. And did I pick up a lot of flak for that? And so to keep the peace I brought my bulldog along.

Let’s start off with the age bands first

Discovery Health KeyCare is all about the income bands.

Why are income bands important?
Everyone on the KeyCare plans enjoys exactly the same benefits, BUT this doesn’t mean everyone pays the same. Someone who is unemployed pays much less to enjoy the same benefits as someone earning a R100, 000 a month.

Below are the age bands for the three types of Discovery Health KeyCare plans:

KeyCare Plus20162015
R10 751 +R10 001 +
R7 551 – R10 750R7 051 – R10 000
R291 – R7 550R361 – R7 050
R0 – R290R0 – R360
KeyCare Access20162015
R10 751 +R10 001 +
R7 551 – R10 750R7 051 – R10 000
R4 701 – R7 550R4 401 – R7 050
R0 – R4 700R0 – R4 400
KeyCare Core20162015
R10 751 +R10 001 +
R7 551 – R10 750R7 051 – R10 000
R0 – R7 550R0 – R7 050

You’ll notice they’ve adjusted the income bands for bracket creep. Take the top income level on the Discovery Health KeyCare Plus plan for instance; they increased the band by 7, 50%, taking it from R10, 001 to R10, 751.

So what will you pay next year?

Well let’s take it plan by plan to give you an idea but remember to focus on your income band.

Here’s an example using the KeyCare Plus range:
If you were on the R10, 001+ band last year, paying R1, 592 a month, and this year your salary remains at the R10, 000 mark, your contribution drops to R1, 165 a month from next year.

Come to think of it; this might be an excellent tax planning strategy – instead of taking the annual salary increase, keep your salary the same, pay the same tax as you paid this year, and pocket the savings on your medical aid contribution. Don’t take that as financial advice though, I’m just throwing the idea out there.

KeyCare Plus

R10 751 +20162015
Main MemberR1 734R1 592
AdultR1 734R1 592
ChildR464R426
R7 551 – R10 75020162015
Main MemberR1 165R1 069
AdultR1 165R1 069
ChildR326R300
R291 – R7 55020162015
Main MemberR832R764
AdultR832R764
ChildR301R276
R0 – R29020162015
Main MemberR290R330
AdultR290R330
ChildR290R330

KeyCare Access

R10 751 +20162015
Main MemberR1 695R1 556
AdultR1 695R1 556
ChildR458R420
R7 551 – R10 75020162015
Main MemberR1 129R1 036
AdultR1 129R1 036
ChildR317R292
R4 701 – R7 55020162015
Main MemberR782R718
AdultR782R718
ChildR281R258
R0 – R4 70020162015
Main MemberR586R538
AdultR586R538
ChildR256R235

KeyCare Core

R10 751 +20162015
Main MemberR1 281R1 176
AdultR1 281R1 176
ChildR289R265
R7 551 – R10 75020162015
Main MemberR830R762
AdultR830R762
ChildR204R187
R0 – R7 55020162015
Main MemberR665R611
AdultR665R611
ChildR173R158

Let me know what you think of this

Every year I send out an excel spreadsheet to my Discovery Health clients with the rates for the new year. At a glance they can see whether to upgrade or downgrade. At the same tie I send out an email a week explaining the pros and cons of each plan type.

If you’re interested in getting onto that list, and think its a great idea, vote in our poll below and I’ll seriously consider offering it.

Do you need assistance with your medical aid?

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Until next time.

The InsuranceFundi Team

 

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