Featured question: If I miss a payment, am I still covered?

By Staff Writer
Question:
 
If I miss a health insurance payment, am I still covered? What is the grace period for being late?
 
Answer:
 
The Medical Schemes Act cites failure to pay the premium in the time allowed as one of the grounds for suspension of a member.
 
Technically, a member who does not pay their premiums is no longer a member and a scheme is not permitted to provide benefits for a non-member. This is because a scheme's funds are made up of the members' contributions for the benefit of said members, and therefore unfair to those members if that scheme were to provide benefits for someone not contributing.
 
However, there are obviously situations where contributions are missed or paid late for various reasons. Therefore, if a member has missed a payment, I would suggest that they contact their scheme as soon as possible to explain the situation and attempt to make the necessary arrangements to avoid the possibility of being denied benefits.
 
Expert:
 
After working in the NGO sector for several years, Heidi joined the Board of Healthcare Funders in 2000 as Head of Corporate Communications. For more information, click here.

Recent Articles

Featured What happens to the interest on your tax-free savings?

You may be interested in investing your savings in a tax-free savings account (TFSA). However, the amount you’re allowed to save in this kind of account is capped. So, what does this means for any interest you earn above the limit?

What does financial emigration entail?

Over the last couple of years, you’ve slowly been saving to move abroad. You’ve learned a new language, and mapped out all the places you plan to see. But should you take all your wealth with you?

6 Clever ways to spend your tax refund

After submitting your tax calculations to SARS, you may receive a tax refund. This is a tax break offered by SARS based on certain expenses. But what should you do with it? We have a look at six productive ways you can spend this money.

When to trade in your old car for a new one

You may have noticed that your car isn’t running as smoothly as it used to. This is particularly concerning if you’re hoping to sell it at a reasonable price, and buy yourself a modern alternative.

Deals

Full Body Massage at Meraki Beauty & Wellness Centre

Price: R99
When: Mondays to Thursdays
Where: Umhlanga

Archery and Drift Triking with Adventure Freaks

Price: R149
When: Mondays to Sundays
Where: Hartbeespoort

E-Bike Stellenbosch Wine Farm Tour and Wine Tasting

Price: R899
When: Tuesdays to Sundays
Where: Stellenbosch


Latest Guide

Guide to debt rehabilitation solutions