When times are tough and money runs dry, cutting down on ‘grudge’ purchases such as insurance is often one of the first things beleaguered consumers do to relieve some of their financial pressure.

Have you ever considered that without sufficient medical insurance when you or your loved ones need to be hospitalised and/or undergo major surgery, you could be financially ruined?

“Cancelling your medical scheme membership to save money in the short term, may in the longer term cost you and your family dearly,” cautions Liberty Medical Scheme’s Executive Principal Officer, Andrew Edwards. “Without medical scheme cover, people have no choice but to rely on the overburdened, underserviced state healthcare facilities – or fund the costs out of their own pocket.”

Liberty Medical Scheme (LMS) statistics show that:

• The average hospital cost per day during the first quarter of 2012 was R7 858.
• The average cost per admission amounted to R18 751.

In fact, compared with the actual cost of care for any serious condition can make medical scheme monthly premiums seem much more attractive.

People who don’t have health insurance tend to wait until their condition is at its worst and use the emergency room to get care. This results in large bills from doctors and facilities that often go unpaid. To recoup those funds, hospitals are often forced to charge more for services to everyone across the board.

“Contrary to public perception that all medical scheme options are expensive, most schemes offer affordable, low-cost and entry-level options to suit all members’ needs,” Edwards adds.

Here are some of the benefits of having a medical scheme:

1. Through medical scheme cover, members can access some of the best private hospitals in the world.
2. Medical schemes pay for many other healthcare needs such as nursing, surgery, dental work, medicine, physiotherapy and eye-care.
3. Medical scheme membership protects members financially if they suddenly have to pay large, unexpected medical costs.

You insure your cars, home and other material items, so why would you decide to put yourself last? Car or home repairs can be very costly, but have you thought about what it would cost to fix YOU if something went wrong?

Issued on behalf of LIBERTY MEDICAL SCHEME.