The millennial’s guide to buying health insurance
How to take control of your health by finding the best-suited policy for your fast-lane lifestyle.
Young(ish) people need health insurance, too. Millennials were born between 1981 and 1994, which is where the young(ish) part comes in. Whilst some millennials are still 25 years old, the older part of the generation are leading at 40 years old. This means there are a whole lot of people in the middle who are at different stages of their lives, but all a part of the same generation.
Whether you’re a millennial who has 2 kids and a dog or a millennial who still eats 2-minute noodles for breakfast (no judgment here), you need to start making responsible choices surrounding your finances and your health. If you’re stuck with an insurance policy that doesn’t seem to get you or the thought of buying health insurance gives you immediate anxiety, fear not. We’re here to walk you through how to buy health insurance that understands your lifestyle and your budget.
Why do I need health insurance?
For the very simple reason that you deserve access to excellent healthcare.
Even if you are supposedly in the healthiest stage of your life, that doesn’t mean you’re immune to health complications or accidents. One of your top priorities should be securing access to private healthcare when you need it. Health insurance opens those doors for you.
The cost of private healthcare is completely unaffordable to the majority of South Africans. Additionally, Millennials have had an especially tough time building financial security considering the economy has gone through some serious dips in their lifetime. Healthcare is expensive and unless you happen to have various offshore trust funds with endless cash flow, you’re going to need health insurance.
You can read up more about the costs of private healthcare.
Getting health insurance at a younger age is going to save you money in the long run. If you wait until you’re older, you run the risk of higher premiums based on pre-existing conditions and a more stringent risk profile.
The next discussion is, how do you find the perfect insurance for your specific needs? Let’s have a look.
Seek out convenience
You’re busy, you’re on the move and you’re a whiz on your cellphone. So why should your health insurance get in the way? You want an insurer that meets you where you’re at. At Oneplan, we make our health insurance simple and we make it streamlined.
This means zero paperwork and zero hassle because it’s just not necessary! All of our insurance touchpoints are digital, meaning you can:
- Load claims through the Oneplan App.
- Get paid before you see the doctor by having funds loaded into your Onecard.
- Access your premium at any time, any place.
Pro tip: You can use health insurance as gap cover if you’re medical aid coverage falls short.
Learn the lingo
Something we’ve noticed is that people are put off by insurance that they don’t understand. You know the ones - the advisors who speak in gobbledygook and the policies that would take an age to decipher.
It’s important that you equip yourself with a basic understanding of car insurance lingo. You don’t need to be an expert but gaining an understanding of certain terms makes you a more empowered consumer. Do some research into premiums, excess fees, dependents and waiting periods to feel less daunted. Having a better grip on insurance terms will help lead you to the perfect policy.
A big part of our mission is to make insurance that is jargon-free and easy to understand.
Figure out what’s best for you
Nobody knows your health and needs better than you do - that’s a fact! That’s why it’s a good idea to take some time and look at your health history thus far in your life. How often do you visit the doctor? Do you have a chronic illness? Are you financially prepared to pay for extra hospital stay fees if you are in an accident?
Once you have a better understanding of what you will need health insurance for most, you will be on the path towards knowing which policy is best for you. Take a look at our Blue Plan, for example. For 770 pm you will have access to:
- GP visits up to R375 per visit.
- Scripted medication up to R170 per script.
- Over the counter medication up to R170 per annum.
- Pathology up to R450 per event.
- Radiology up to R450 per event.
- Dentistry up to R615 per visit.
- Maternity pre-birth up to R590 per visit. 3 visits per pregnancy.
- Casualty illness up to R5000.
- Casualty accident up to R5000.
- Accident cover up to R205 000 per insured event. Up to R410 000 per family per event.
- Illness In hospital up to R50 000 per insured event p/p. Up to R125 000 per insured per year.
- Natural birth and emergency caesareans up to R50 000 per insured event p/p.
As you can see, we take comprehensive health insurance pretty seriously. If you want to look at what our other plans have to offer as well as up to date pricing, (yes, there’s more where that came from) you can click here.
Yours in excellent health insurance,