Why are medical aids so expensive?

Medical aids will soon be increasing their fees for 2017. While the rates are very high many feel its a necessity in order to avoid ending up in state hospitals.

Jill Larkin, Head of GTC Health Care Consulting answered the question 'why are medical aids so expensive'?

Members of the medical aid continue to use the medical aid to such a degree that they have no choice but to up the premiums if we wish to enjoy the level of cover we currently have.

Jill Larkin, Head of GTC Health Care Consulting

Larkin says she thinks there are enough medical aids schemes to create enough competition. She says there are 26 medical aid schemes with about 208 options which members can choose from.

A health care market inquiry run by the Competition Commission shows that there is lack of competition in the industry.

Larkin also said that government is working hard to improve services and match medical schemes but it is moving too slowly.

To hear why medical aids are so expensive, listen below:


Recommended

by NEWSROOM AI
Read More
Wits Nehawu members down tools over salaries

Wits Nehawu members down tools over salaries

Nehawu Wits acting secretary Tumisho Madihlaba says negotiations with management deadlocked resulting in a strike.

Former Eskom interim CEO Sean Maritz under fire for signing off R400 mil payment

Former Eskom interim CEO Sean Maritz under fire for signing off R400 mil payment

‘Documents show that the fee contract was entered into by Anoj Singh & signed off by the acting CEO Sean Maritz' - Chris Yelland

May the Fourth be with you, a celebration of Star Wars Day

May the Fourth be with you, a celebration of Star Wars Day

May 4 marks "May the Fourth be with you," Day celebrated by fans George Lucas' fans of his Star Wars global movie franchise.

New medical aid registrar vows to integrate private and public health care

New medical aid registrar vows to integrate private and public health care

Dr Humphrey Zokufa appointed Register of the Council for Medical Schemes by Minister of Health says no conflict of interest.

Choosing a Medical Aid plan that best suits your needs

Choosing a Medical Aid plan that best suits your needs

Is it difficult to find a medical aid plan that suits your needs? GTC Healthcare published a survey to give clarity on various plans

Save money by downgrading your medical aid. But first consider this…

Save money by downgrading your medical aid. But first consider this…

Struggling to make ends meet? You may (or may not) be over-insured – here’s what to consider before you downgrade…

Popular articles
'Minnie understood he might become a target'

'Minnie understood he might become a target'

Marianne Thamm wrote the forward to 'The Lost Boys of Bird Island' and worked with Mark Minnie in editing the controversial book.

[WATCH] Dad dresses up as a mom so his sons don't feel left out on Mother's Day

[WATCH] Dad dresses up as a mom so his sons don't feel left out on Mother's Day

Khabazela shares Facebook posts, YouTube videos that have gone viral including one with the smartest dogs.

Nxasana questions why Minister Masutha's involvement is not being challenged

Nxasana questions why Minister Masutha's involvement is not being challenged

Former NDPP Mxolisi Nxasana says he didn't know the payout he received was a golden handshake.

[LISTEN] Is your phone listening in on your conversations?

[LISTEN] Is your phone listening in on your conversations?

MD at World Wide Worx Arthur Goldstuck explains how your phone may record your voice conversations.

'Black Tax'... working hard, earning well, but struggling financially

'Black Tax'... working hard, earning well, but struggling financially

Young(ish) South Africans tell stories of the mixed emotions they feel when supporting family members, and tips from an advisor.

Castro bodyguard shares tales of dictator’s double life and breath-taking wealth

Castro bodyguard shares tales of dictator’s double life and breath-taking wealth

Juan Sanchez shares stories of Fidel Castro that’ll make you re-examine everything you thought you knew about the Cuban dictator.