The GTC 2018 Medical Aid Survey (MAS) has identified 16 medical aid plans as being ‘the best value for money’ in South Africa.
The 16 plans come from 6 different schemes, out of a total of 21 open plan schemes that have 72 medical aid plans serving some 9 million South Africans.
GTC, formerly Grant Thornton Capital and a diversified financial services company,analysed and rated medical aid schemes according to a standardised comparison, and ranked the choices available to members.
When analysed purely in terms of premiums – the survey’s micro ranking – Fedhealth emerged as the medical aid which held the most top positions across all the classifications.
Discovery was ranked in first place for the survey’s macro rankings, which analyses a medical aid’s overall ‘health’ and longevity in terms of factors such as its solvency level, membership growth, net healthcare result and member satisfaction.
The micro rankings are mainly those elements around price and value for money, while the macro ranking relate mainly to its sustainability.
When combining both the GTC micro and macro rankings, Discovery claimed the highest number of top positions across all categories – for the second consecutive year since the survey’s release eight years ago.
This year’s survey reviewed 21 open schemes and one closed scheme (Profmed) covering 22 plans divided into five categories, eight subcategories and three micro categories. Many of these were further split between network and non-network schemes, whilst some of them go on to reflect day-to-day spending levels.
The full range of plans have been graded according to GTC’s ‘likelihood of support’ each plan type will receive and offers a simplified method of comparing options and cost for members.
GTC noted in addition to factoring in complaints received from members on social media sites such as Hellopeter.com– as an indication of members’ satisfaction with their medical aids – the 2018 macro grading also took into account the compliments that schemes received, as well as the Hello Peter Index.
Bonitas moved up seven places in the macro rankings as a result of Liberty’s members being amalgamated into the Bonitas scheme.
