One Plan Hospital Plan
If you are looking for cheap hospital cover one of the One Plan hospital plan options might be the perfect fit. They offer affordable medical care options laced with other life insurance based benefits.
It is important to note that One Plan is not a medical aid scheme. Instead it is insurance cover – a form of short term insurance. ABSA insurance risk management services underwrites One Plan hospital plans.
This means the Council of Medical Schemes does not regulate the plan. Therefore they do not have to comply with the rules and regulations set aside by the Medical Schemes Act.
One Plan Insurance Options
There are two One Plan hospital plan options available. These are the Elite and Executive Hospital Options. The basic benefits of both of these plans are the same. They vary only in the amount of cover the plans provide. The amount of cover is related to the premiums the member pays.
The plans take on the form of a combination of life insurance and short term insurance and include the following benefits:
- Accident cover with no waiting period.
- Illness cover in-hospital with a waiting period of 90 since commencement of the plan.
- Emergency Illness, the cover is immediate.
- Maternity benefits including natural birth and emergency C -section: A waiting time of 12 months apply.
- Family death cover: Cover for accidental death is immediate, and for natural death a waiting period of 90 days applies.
- HIV/AIDS disease management: cover for new diagnosis has a 90 day waiting period and pre-existing has a 12 month waiting period.
- Ambulance and emergency services: the cover is immediate.
- Dread disease cover available after a waiting period of 90 days.
The cover in most of these cases has limits per incident and per year.
Let’s say you have a claims dispute with a medical insurance company. Then you should take the dispute up with the underwriters of the company. Alternatively you can use the services provided by the financial services ombudsman.
One Plan is an Affordable Option
Even though these plans are not provided by a medical scheme and the waiting periods are a bit long, the One Plan hospital plan is a viable option for people from lower income groups. The fact that accident, dread disease and funeral cover is included makes this product a multifunctional product that does not limit the client specifically to medical aid options alone.
A One Plan hospital plan can prove invaluable when dread disease or accidents happen as the lump sum payments will help the member to get back on their feet or support their family should they be unable to return to work.
These hospital plans really are a cheap and affordable form of medical aid plans that will suit even the smallest pockets. It would also suit people well that are afraid to make use of government hospitals.
The cover is limited and the plan would need to be managed with extreme care and caution, but it can be a safety net in times where accident and hospital cover are needed most.
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All info was correct at time of publishing