Medical aid is one of the most important types of covers for everyone. There are many different types of medical aid covers available. So when it comes to medical cover, you really are spoiled for choice. One of these many types of medical aid covers is company medical aid. These covers are very beneficial and help individuals to save in this type of medical cover to save a lot of money.
Company medical aid cover is provided to employees in certain companies. These employees are usually asked to contribute a certain portion of the premiums while the company pays the rest. This type of cover is also sometimes called group health cover as it provides health cover for a particular group of people. There are all types of health covers, both long and short-term insurance covers.
All types of groups can choose to take this insurance cover. Most companies establish an insurance plan that covers their employees. You can also find this cover being used in organisations, religious groups, trade associations, clubs, special interest groups and chambers of commerce offer their members this type of health cover.
Benefits In This Type Of Cover
This type of medical cover is very affordable. This is because insurer benefit from having more clients buying their plans. So being in this insurance can easily save you a lot of money you would have used on insurance premiums. Most employers cover all of the premiums or parts of it. Also there are no medical examinations or medical history required. Usually, insurers that offer this cover don’t require physical examination or health history. This greatly benefits those that have pre-existing health conditions. These insurance covers follow their own procedures and they cover any individual regardless of their health status or age. This type of medical cover is the best choice for affordable health cover. The other great thing about this cover is that it covers even individuals that were turned down for individual medical aid cover.
However, there are some downsides to having company medical aid. One of them is the limitation of choice. This means that the insurance cover is not made to suit the needs of one individual but a group. Individuals that are part of this insurance policy have no say in what kind of policy is chosen. They also cannot know how much the premiums are and the maximum coverage it gives. Individuals that are part of the medical aid but leave or quit their job can lose this cover. However, some insurers let them keep the policy, by making a few changes. Individuals with special health care needs are best suited for this type of medical aid as it will provide the best coverage.