THE INS AND OUTS OF SWITCHING

Firstly, do your research. Get quotes from various schemes and ask questions such as what the monthly premium is, whether there’s a waiting period and what your benefits will be. It’s better to be sure the grass really is greener on the other side before you quit your current scheme. A medical insurance broker can help you with this.

The cancellation process is usually easy. First you have to inform the scheme you’re leaving. Call (or check the scheme’s website for information) to find out how long the notice period is – it’s usually between one and three months. Certain schemes accept telephonic cancellation, while others require your notice in writing (email or fax). Be sure to confirm the cancellation date.

You have to continue paying your contributions until the last effective membership date and you’re also entitled to benefits until the last day of membership. A scheme is allowed to take legal action to recoup outstanding contributions or it can back-date the cancellation to the last date of contributions received.

Apply with your chosen new scheme, ensuring your new membership starts on the day following your cancellation date from the old scheme. It’s illegal to belong to two schemes at the same time. The new scheme might require a waiting period (see below) before you’re fully covered, during which you’ll pay full contributions.

You need to provide the new scheme with a membership certificate issued by your previous scheme to confirm you’ve had medical aid (there are penalties if you join a medical aid for the first time later in life). Failing this, you need to make a sworn statement to that effect.