Recent research from financial comparison website ThinkMoney revealed that Fedhealth and Momentum were ranked the best medical aid providers by ThinkMoney users.
From over 2500 medical aid reviews written on the ThinkMoney site, Fedhealth and Momentum received the highest average ratings from consumers, followed by Bonitas*.
Thinkmoney users rate medical aid providers out of five according to the following criteria: service, premiums, payout process, claims process and level of cover.
Fedhealth scored an impressive 3.9 out of five as an average rating, while Momentum came second with 3.8. Both scored highly in the "service" category, with 3.8 and 3.7 out of five respectively. Fedhealth’s claim process scored particularly highly (four out of five), while its payout process received a score of 3.9 out of 5. Additionally, over 75 percent of people who posted reviews about Fedhealth would recommend this medical aid to their friends and family.
Bonitas came third overall, with an average score of 3.7 out of five. Other highly ranked medical aid providers included Cape Medical Plan and SelfMed — although these were based on a very small number of reviews.
The overwhelming leader in terms of the number of reviews received was Discovery Health, with over 1200 reviews left on the site. Its overall rating was however lower, at 3.5 out of five. It also rated particularly low on premiums, scoring only 2.7 out of five — meaning that ThinkMoney users generally find Discovery’s premiums to be more expensive than other providers.
These statistics come at a great time given that most medical aid companies begin announcing their new premiums and annual increases next month, and consumers have until the end of the year to choose to change their plans.
CEO of Thinkmoney Gareth Mountain says, "It’s that time of year when South African consumers should be shopping around to find the best deal on their medical aid plans. While comparing prices is important it also makes sense to check what other people are saying about their experiences so that they end up choosing the best option for themselves and their families."
*information correct at time of going to press