Retirement brings to mind scenes of relaxing at a beach house, going on tours, or spending quality time with family. But this requires being in a healthy state to enjoy it all.

Unfortunately, as we get older, our bodies also become more frail and need more medical care. Pensioners would be wise to invest in a good medical aid scheme to help them stay ahead of any health issues that may arise.

But when you are a pensioner, it can be a difficult time to get medical aid. Your income generally decreases while your health risks increase. The government does provide healthcare to everyone, but private care is often a preference for those who can afford it.

Many companies provide medical aid for pensioners in South Africa, but some can be quite expensive. In this article, we’ll look at the different options available for those in retirement seeking affordable medical care.

Get Pensioners’ Medical Aid Quote Quickly

Introducing Episodic Medical, your gateway to tailored healthcare!

If you’re under 65, they’ll create a medical aid quote that is meticulously designed to harmonize with your lifestyle, health needs, and financial aspirations.

Get a Quote!

What are Pensioners’ Medical Aid Options?

The recommendation is that pensioners choose a medical aid plan that covers hospital costs, chronic medication, and day-to-day doctors’ visits.

Most schemes don’t have cheaper medical aid options specifically for pensioners. If you consider that pensioners usually claim more than younger people, you actually get more out of the plan for the same price.

However, this is little consolation if the medical aid plan is still too expensive for you to afford. And if this is the first time you join a medical aid, there is even a late joiner penalty. Just like funeral insurance for seniors, medical aid becomes more expensive the older you join.

If money is a little tight, there are some other options available.

Hospital Plan for Pensioners

If you are looking for a more affordable medical aid option, you can consider having only a hospital plan. This option is usually less expensive than comprehensive medical aid.

Hospital plans for pensioners cover in-hospital costs and chronic conditions. However, you will have to pay day-to-day expenses like doctor visits and acute medication out of pocket.

You can read more about the differences between a hospital plan and medical aid here.

Choose a Lower Plan

Even though it’s not ideal in this stage of life, often the only option for pensioners is to move to a plan with fewer benefits. The essentials will still be covered, as all plans must have prescribed minimum benefits. But you may have to make use of only certain doctors, or pay for some tests out of pocket that are not covered by the scheme.

If pensioners are already financially dependent on their family, there is also the option to add elderly parents as dependents on their adult child’s medical scheme.

Medical Aid Plans for Pensioners

Many top medical aid schemes in South Africa offer a variety of plans suitable for pensioners. The pension age in South Africa is 60 for both men and women. There are affordable plans that cover the essentials. Or, if money is not a problem, there are plans that offer extensive cover specifically for seniors.

Note: All prices mentioned are those listed on the companies’ websites for 2021/22.

Discovery

Discovery offers some of the best affordable medical aid for pensioners. They have seven different plans to choose from, with prices ranging from R1 000 to R8 000 per month.

Their Core Series is a hospital plan with chronic care for under R2 000 a month. The Priority Series covers the most important in-hospital and day-to-day costs for under R4 000 per month.

For those who want complete peace of mind about their health, there is the Executive Series. It offers extensive cover for hospital and daily benefits, as well as an unlimited above threshold benefit.

Bonitas

Bonitas offers different categories for those with various medical aid needs. Their Traditional category includes plans with day-to-day and in-hospital benefits. Prices for these plans range from R2 000 to R4 000 per month, depending on the cover you choose.

Bonitas’ hospital plans cost around R2 000 and cover emergency and planned procedures to various extents. The company also has an income-based BonCap plan which scales with the amount you can afford to pay. This gives you different amounts of benefits at their network’s doctors and hospitals.

Momentum

Momentum is a large and trusted medical aid company. They offer six different plans ranging from R2 000 to R11 000 a month.

Their Custom Option allows you to choose in which areas you would like to spend more money and where you want to cut back and save. For around R2 000 you get hospital cover, chronic benefits, and day-to-day benefits.

The Extender Option costs around R5 000 and provides more extensive hospital and chronic cover than the Custom Option. Momentum’s Summit Option is the most expensive and provides unlimited private hospital cover, chronic cover for additional conditions, and extensive daily benefits.

Fedhealth

Fedhealth has two plans that are specifically designed for more mature members. Both of these plans are on the expensive side and provide comprehensive cover.

The Maxima Exec plan is designed for older couples whose kids have left the nest. It is well suited to those who have recently retired and don’t feel the need for extensive hospital and chronic cover yet. For just under R7 000, this plan includes in-hospital cover, screening benefits, and a day-to-day savings portion.

The Maxima Plus plan costs almost R11 000 and provides extensive cover for seniors. It covers higher costs than the Exec option for hospital and daily services. The plan also covers more chronic conditions and includes out-of-hospital benefits.

Summary: Best Affordable Medical Aid for Pensioners

Choosing a medical aid plan for pensioners that is affordable while also providing sufficient cover can be a difficult task. Senior members often need chronic medication and regular doctors’ visits.

There are alternatives if money is an issue, such as choosing an overall lower plan or only a hospital plan. If finances are already tight, pensioners can also join their children’s medical aid as dependents.

South Africa has many top companies that provide quality medical aid. They have a variety of options with different benefits and costs involved. It might take some searching, but with so many plans to choose from, pensioners are sure to find the medical aid option that is best for them.