Momentum is a major industry leader in the South African insurance industry. The company also offers several products including a highly developed health insurance scheme called Momentum Medical Aid. Momentum Medical Aid Scheme is the third-largest open medical aid scheme in South Africa and a major contributor to the company’s yearly turnover.
I listed with details and contain information about the various Momentum Medical Aid plans and prices/cost per month, and other juicy details you need to know.
These are certainly good times for Momentum, the company has announced a weighted average annual contribution increase of 3.9% for 2021. These good times have also trickled down to the customers; the company has announced a low contribution increase in the market, without reducing benefits. This means that while other health insurers are increasing customers’ monthly contributions, Momentum is not, and yet, customers will continue to receive high benefit payouts.
Momentum Medical Aid Plans And Prices
Evolve Option
Evolve is an Option that you can subscribe to with R1 345 per month, and above. This option is obviously targeted at the middle-aged working-class people who are in the prime of their lives. With this option, you can get cover for hospitalisation from the Evolve Network of private hospitals which is an impressive list of private medical facilities. With this plan, there are no overall annual limits, and you get day-to-day benefits like General Practitioner visits, to keep tabs on your progress.
Custom Option
The Custom option is a momentum medical aid plan that is obviously targeted at the active but elderly class of people in the society. With this option, you get comprehensive hospital cover for any ailments, including preexisting and chronic conditions. The Custom Option costs from R1,706 per month, and you can choose to have access to treatment at any hospital. However, the company will give you a special discount if you choose to select from a specific list of private hospitals, or any associated providers.
Incentive Option
Incentive Option is an extended or improved version of the option highlighted above; it too is targeted at the elderly but active members of society. This option costs from R2,224 per month and offers you the opportunity to get medical treatment, including extensive medical stays in the hospital for any ailments including preexisting chronic illnesses. This care can be received at any hospitals of your choice, or from associated providers. With this option, 10% of your contribution goes to a dedicated medical savings account to cover your day-to-day medical expenses.
Extender Option
The Extender Option is much more suitable for the older generation, even though it is similar to the last two highlighted above. For R5,231 per month, with this option, you get extensive hospital cover and additional chronic cover from any hospital, with an added incentive if you choose from the company’s list of associated providers. The keyword on this option is that you get additional chronic cover so if the customer has a chronic condition, he will be taken very good care of. 25% of your contribution goes to a dedicated medical savings account to cover your day-to-day medical expenses.
Summit Option
Summit option is a momentum medical aid plan that is targeted at the elite of society. From R10,642 per month, you get unlimited private hospital cover from Any provider of your choosing. This option sure beats travelling abroad for medical treatment; it also gives you Chronic Cover for an additional 36 conditions, and you can receive this care at Any provider. Day-to-day benefits while at the hospital are covered up to R26 900 per beneficiary for a 365 day period. Yes, the option does seem pricey, but so do the options.
Ingwe Option
The Ingwe option is targeted at the young people in society who may not have accumulated much money but would like to start enjoying medical cover from an early age. Many are students or young professionals just starting out in life. This option gets you affordable and accessible entry-level medical cover. Remarkably though, with this option, you can choose to get treatment from Any hospital of your choice, or from the Ingwe network of private hospitals, or from State hospitals. The cost of this option starts from R455 per month, and the care given is very good.
Momentum contact details:
To get in touch with Momentum, in order to get more information about the available options, as well as to discuss your peculiar circumstances and needs, the best way is to talk to the company on phone at 0860 117 859. You can also get more information on pricing by clicking the ‘Get an Online Quote’ button on their website:
https://www.momentum.co.za/momentum/personal/products/healthcare/medical-aid-options
You can also fill out a claims form on the website by clicking on the ‘Contact Us’ button on the website; this will take you to the page where you fill in your details including the policy number to file a claim.
You also contact the company by downloading the Momentum app for the google play store; after opening and registering on the app you will see your details, and can even file claims or request emergency assistance from the company.
Related:
- How to Check UIF Claim Status Online
- How to Calculate Your Unemployment Benefits
- How to Claim UIF When Resigned, Retrenched or Dismissed
Conclusion:
Momentum medical aid is one of the biggest insurance companies in South Africa, and it is no surprise that they are one of the pioneers in the field of healthcare management in the country. A competitive edge that the company has is that it is trendy, and so appeals to the younger crowd. According to Damian McHugh, head of growth and marketing at Momentum Health Solutions; “Momentum Medical Scheme’s average age of members sits well below the industry average, and as a result of this, our long term claims forecast allows us to keep contribution increases lower than the majority of our competitors.”
By keeping contributions increases lower than most competitors, the company has found a way to keep the rate of new customers on a steady high because simply put, it is just cheaper to go with Momentum medical aid plans and prices. Another great benefit of this company is that there is a product that protects customers from hard times when they may experience money flow problems and so find it hard to pay their contributions. The administrator for Momentum Medical Scheme, Momentum Health Solutions makes it possible for members to pay their contributions from their HealthSaver accounts, which means members who have positive balances retain their medical cover.