Why do you need health insurance?

Health insurance is an important investment choice that provides you and your loved ones with financial protection against rising medical costs, and access to private healthcare services. Discover more as Bloom, discusses the commonly asked question: why do you need health insurance, by explaining the critical benefits that members are provided when they take out a Momentum Health4Me health insurance policy.

These 6 benefits reveal why you need health insurance

1. Cover for pre-existing conditions

You are eligible for health insurance even if you have a pre-existing condition, like heart arrhythmia, although you might be subject to waiting periods. Having health insurance when you have a pre-existing condition is important because it means you can receive specialised medical care and services, which may involve taking certain types of chronic medication and getting access to specialists and treatment. A person with Parkinson’s Disease, for instance, may need to see a neurologist regularly and someone with diabetes would need to take insulin.

2. Financial protection

A health insurance policy can help shield you against rising healthcare costs by providing financial cover for a range of medical services. This can include hospitalisation, emergency care, GP and specialist consultations, tests and treatments, chronic medication and preventative care measures. Health insurance ensures your financial stability by taking care of medical expenses that you would have had to pay out of your savings.

3. Access to preventative care benefits

Health insurance plays a role in maintaining better health and outcomes through preventative care programmes. Health4Me members have the opportunity to have regular check-ups, like physical examinations, routine health screenings and vaccinations. The purpose of which is to identify risks and potential health issues before they become serious. Health4Me offers an annual health assessment check-up at participating clinics and pharmacies. This includes a blood pressure check, cholesterol check and a blood sugar finger prick test. An annual flu shot is also offered, which will decrease your risk of developing influenza.

4. Health emergencies and events

Health insurance will play a vital means in support during a health emergency or medical event, like a heart attack or car accident. Health4Me will cover hospitalisation for the emergency, along with any necessary life-saving treatments.

5. Health and wellness incentives

In addition to medical services, health insurance plans will often provide health and wellness incentives to encourage members to adopt healthier lifestyles or to ensure their overall health and well-being. Not only does Health4Me offer a comprehensive annual health assessment check-up but there are also other benefits, like the HelloDoctor mobile-based medical services that ensure you have access to medical advice on a 24-hour basis. Health4Me members have automatic access to the More4Me benefits, which incentivises your Heart Healthy Score with free airtime, data and vouchers to major brands like Shoprite Checkers and Takealot.

6. Employer-sponsored programmes

These programmes belong to healthcare plans that are provided by employers to their employees. The employer takes the responsibility of offering a group health insurance policy to eligible employees and their listed dependents. Typically, the employer contributes to a portion of the premium, making it more affordable to staff. Various other benefits are offered as well. Health4Me offers members free access to a confidential, multilingual support and counselling service that can be accessed via a toll-free line. Members just need to download the Momentum More Health app to get set up. Legal assist, credit health and debt management support are also offered to members who are undergoing personal and professional challenges in life.

Here’s why you should start early with health insurance

There are various reasons to question why do you need health insurance? Apart from the critical health benefits one receives, there is another factor that is often overlooked and that relates to the benefit of getting a health insurance plan early in life. Some of the advantages of this include:

  • Continuity of cover. This is an important move to make because it prevents a lapse in coverage, which could lead to exclusions or higher health insurance premiums later in life. Maintain a continuous cover history, which ensures that you have uninterrupted access to the healthcare services you need as you get older.
  • Lock in lower premiums early. Health insurance premiums tend to increase as one grows older because a person’s health tends to decline. By getting a health insurance plan early in life, you can ensure lower premium rates based on your demographics at the time of your enrollment.

Benefit from affordable health insurance cover

Why do you need health insurance? Because a health insurance plan guarantees timely medical care when you need it. This provides you and your family with top-quality medical care without the financial burden that comes with having to pay out-of-pocket medical costs. Preventative care is part of the health insurance package, so you can rely on regular screenings and check-ups that identify possible risks and promotes better health and quality of life. Get an affordable health insurance policy that prioritises both your physical health and financial well-being. Make an appointment with Bloom and speak to a trained consultant who can assist you through the process.

Medical Content Disclaimer

You understand and acknowledge that all users of the Bloom website are responsible for their own medical care, treatment, and oversight. All content provided on the website, is for informational purposes only and does not constitute medical advice. Neither is it intended to be a substitute for an independent professional medical opinion, judgement, diagnosis or treatment.

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Momentum Health4Me is not a medical scheme product, and is not a substitute for medical scheme membership. The information provided on this website does not constitute advice in terms of the Financial Advisory and Intermediary Services Act. Momentum is a division of Momentum Metropolitan Life Limited, an authorised financial services provider (FSP 6406) and a wholly owned subsidiary of Momentum Metropolitan Holdings Limited.

Bloom Gap Cover is not a medical Scheme. Products that are offered are not the same as that of a medical scheme.

© Bloom Financial Services 2023. Bloom Financial Services (Pty) Ltd is an authorised financial services provider (FSP 50140). Bloom Gap is underwritten by Infiniti Insurance Limited a licensed non-life insurer and an authorised financial services provider (FSP No.35914)

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