Finding the right medical insurance for your family

young family at the beach

The COVID-19 pandemic has proven just how precious and uncertain our health and welfare can be given the rate of worldwide infections. No one can predict if and when you’re likely to fall ill or develop a chronic condition, which is why, during these uncertain times, Bloom Financial Services and Momentum Health4Me stress the importance of having family health insurance cover, which will afford you access to quality healthcare services should you need it. Find out what you need to consider when you’re looking for health insurance for your family.

What is medical insurance?

Medical insurance or health insurance is an affordable alternative to a medical aid plan. It’s governed by the Short-Term Insurance Act and covers a list of preselected benefits with a monetary value attached to each of them. Historically, medical aid plans have often proven unaffordable to many South Africans and health insurance is designed to meet the needs of those from a lower income bracket who are earning between R8,000 and R30,000 per month. It’s best for day-to-day medical expenses and provides limited hospital cover, which is serviced through its network of approved providers. Health insurance plans can also include death and funeral cover. Check our helpful article if you would like to understand the difference between health insurance and medical aid.

Why it’s so important to have access to quality healthcare

Having access to quality healthcare is very important in this day and age. Quality healthcare can be very costly if you’re not covered by medical aid or a health insurance plan. A serious health incident can quite easily drain your personal finances and leave you in debt or being in a position where you are unable to afford the necessary medical treatment for yourself or a member of your family. While medical insurance premiums can seem like an unnecessary monthly expense, it will save you money in the long-run should you be faced with a medical emergency or chronic condition.

How to choose a family medical insurance plan

There are a number of factors to take into consideration when choosing the right health insurance plan. While the cost is always an important consideration, it shouldn’t be the only thing you take into account especially if you’re considering your family’s needs, not just your own. Consider your family’s current and future medical needs, which could include specialist visits or chronic medication, as well as your budgetary constraints. With these in mind, you’re on your way to identifying what is it you need and want from health insurance.

Which health insurance is best for a family?

The Momentum Health4Me Bronze health insurance plans are an entry-level option that is generally better suited for healthy, single people with no dependents and who don’t have any chronic conditions or family responsibilities. The plan offers day-to-day benefits with limited in-hospital cover for major medical events. The Health4Me Silver health insurance plan is a more balanced option that could be the right choice for young couples and families as it offers day-to-day benefits, some specialist benefits like dentistry, and in-hospital cover which includes maternity. The Health4Me Gold health insurance plan is the premium medical insurance option that offers the most comprehensive cover, including specialist visits and in-hospital benefits. This our most popular option and is definitely the best plan for those who have chronic medical conditions and who may need to visit a specialist or receive chronic medication. 

How much does family health insurance cost per month?

Get the monthly premium costs or the Bronze, Silver, and Gold health insurance plans or compare medical insurance plans to help you decide which option suits your family’s medical needs.

  • The Bronze health insurance premiums start at R447 per month.
  • The Silver health insurance premiums start at R483 per month.
  • The Gold health insurance premiums start at R524 per month.

How do I get health insurance for my family?

What kind of health insurance do you need? You can start by asking the experts! Bloom understands that healthcare and medical insurance can be quite confusing, especially when you’re making such an important decision. Fortunately, we have a team of trained brokers who can assist in helping you choose the right plan for your family. Contact our team for your health insurance quotes and we’ll be happy to explain the fine print.

Medical Content Disclaimer

You understand and acknowledge that all users of the Bloom Financial Services website are responsible for their own medical care, treatment, and oversight. All content provided on the website, is for informational purposes only and does not constitute medical advice. Neither is it intended to be a substitute for an independent professional medical opinion, judgement, diagnosis or treatment.