Healthcare financial planning resolutions for 2025
Prioritise access to quality healthcare and protect yourself from financial stress As we step into 2025, families are diligently re-evaluating household budgets, distinguishing the “must-haves” from the “nice-to-haves,” and seeking smarter ways to manage essential expenses. One critical area under scrutiny is healthcare coverage, a universally acknowledged necessity, but at what cost and benefit level […]
Navigating Healthcare Funding – Essential Considerations for Women
Health insurance planning is a critical aspect of overall financial wellbeing, particularly for women who face unique health needs and risks throughout their lives. For a start, women typically live longer but often earn less than their male counterparts. The longer life expectancy means that women could face greater financial burdens when it comes to […]
Delayed Preventative Healthcare and its Cancer Aftermath
Gap claims related to cancer diagnoses dramatically increase in 2023; late diagnoses on the rise as preventative health checks remain deferred due to affordability challenges An analysis of its gap claims related to cancer diagnosis and treatment by Sirago Underwriting Managers from 2020 to 2024 shows that the number of gap claims paid in 2023 […]
Analysis of gap claims indicative of the erosion of medical scheme benefits and out-of-control specialist fees
Three massive gap claims alone amount to R440k in shortfalls for in-hospital treatment not paid by medicals schemes, and demonstrate rocketing specialist fees out of touch with reality or reason An analysis of three massive gap insurance claims amounting to R440k paid by Sirago Underwriting Managers during 2023 highlights an alarming reality of just how […]
Planning your private healthcare funding for 2024
Medical scheme members are facing weighted average increases to their premiums in 2024 of anywhere from 7% to 16%, depending on what benefit option they are on¹. Some schemes have tried to downplay the increases at a time of massive economic pressures for all households, while others have been boldly transparent around increase rationale, but […]
Gap cover a critical financial essential as medical scheme buydown accelerates
An analysis of gap cover claims paid by Sirago Underwriting Managers shows that the quantum of medical scheme payment shortfalls for in-hospital treatment is increasing as financial pressure in relation to premiums is forcing consumers to buy down on their medical scheme benefits. The growing quantum of gap claims volumes and values indicates a marked […]
What is gap insurance and what does it cover?
Medical Scheme membership is fast becoming unaffordable for many South Africans, even for those who might be receiving a part subsidy of their membership costs from their employer as part of an employee benefit scheme. For many households, retaining their medical scheme membership will often involve trade-offs, having to redirect other essential household expenditure to […]
The claims experience… where the customer promise is delivered
Opinion by Martin Rimmer, CEO of Sirago Underwriting Managers The true measure of how satisfied and loyal an insurance client is, manifests primarily in their claim’s experience. The insurance value proposition The efficient and timely settlement of a claim, in a manner that meets your customer’s expectations, is ultimately the insurance value proposition. It’s the […]
Medical aid renewal season – planning your healthcare finances for 2023
Medical scheme members find themselves under massive pressure to cut costs, while ensuring access to quality private healthcare in a crisis If you’re a member of a medical scheme, you will by now have received notification of the increases to your contributions and benefit changes for 2023. Some schemes have announced that increases will […]
Gap Cover: Protecting your pocket from penalty fees and co-payments on your medical scheme benefit
Martin Rimmer, CEO of Sirago Underwriting Managers, provides some insights on what co-payments and penalties are, why and when they are levied and how gap cover can protect your pocket from these unforeseen costs. One of the ways that medical schemes are able to manage the costs of medical scheme contributions is through negotiation […]