BY LIESL PEYPER Barry Rykaart, independent healthcare consultant at CureMED, suggests that you consider these factors before you choose a medical aid: The average age of members of the fund – the older the members of the fund, the higher the claims percentage. The size of the fund and the available number of funds per member – bigger is not necessarily better. A ‘smaller’ medical scheme with higher reserves may be financially healthier than a larger scheme with lower reserves.
The average rate of premium increases. Members’ ratio of claims versus what they pay in premiums. The scheme’s solvency ratios – by law medical schemes are required to have 25% cash reserves.
Stability of the benefit structure.