Living costs skyrocketing, so what about my medical scheme contribution?

The first “grudge expense” most people want to cancel immediately is their medical scheme contribution. This contribution forms a big part of one's budget and sometimes seems unnecessary.

As people's disposable income shrinks, they tend to cancel some of their household expenses in order to survive. In most cases their car, bond and annuity repayments, children's school fees and so forth are a fixed amount, and therefore they cannot really change these expenses.

So where do you start cutting costs in order to stay within your budget? You can change your medical scheme contribution by shopping around for a more affordable product and not cancel it straightaway.

Familiarise yourself with benefit structures and options available in the market. You can always change to a “cheaper” option instead of cancelling your contribution all at once. Shop around for affordable, yet comprehensive cover that best suits your needs and, most importantly, your pocket.

Marcel du Toit, CEO of Medquote, says it is very important that you insure your health. Accidents can and do happen and your health is unpredictable. Get accurate information from the experts; saving a few rand on your contribution could mean extra cash in your pocket at the end of the month. If you are currently on a comprehensive plan, and your family is relatively healthy and your day-to-day expenses are not very high, changing to a hospital plan till economic conditions stabilizes might be a good option.

A userfriendly and easy to use website to visit to review your current medical scheme situation and compare it with other products in the market, is www.medquote.co.za.

Complete a medical scheme quote request form and submit it online. It will then be forwarded to a dedicated team of accredited consultants. And it gets even better - THIS SERVICE IS COMPLETELY FREE! Sit back and relax, assistance is available in these difficult economic times - just visit the Medquote website.

General tips on how to save medical costs

Shop around. Do your homework and shop around for the best medical cover at the most affordable price.

Stay fit and healthy. Prevention is always better than cure. The healthier you are, the lower your medical costs will be. Go for regulated vaccinations; they will prevent unnecessary conditions.

Consider generic medications. Generic medications are by definition the same as the original brand, but they can cost a fraction of the price.

Negotiate your tariffs. If you are scheduled for a planned procedure, negotiate the rates with your service providers before being hospitalised.

Repeat prescriptions can be faxed. Phone and ask the doctor to fax your prescription to the pharmacist if it is merely a repeat prescription for a non-life-threatening chronic condition.

Visit the GP who charges medical scheme tariffs or make use of Designated Service Providers (DSP). This could save you money.

Ask your pharmacist. Pharmacists can also give good medical advice about problems such as skin rashes, flu or minor infections. Settle for over-the-counter medication or self-treatment for minor ailments.

Avoid after-hours consultations. Obviously, if there is a crisis you will have no choice, but these consultations are very expensive.