Why health insurance is so important

The HIV/AIDS pandemic and lack of resources means that South Africa’s public healthcare system and government hospitals have been under severe strain for many years. The outbreak of COVID-19 in 2020 has put our country’s healthcare capabilities under even more pressure than ever before. A recent report by Investec indicates that 40,000 deaths and 1,000,000 infections are anticipated by the end of the year. So, it is during these turbulent and uncertain times that Bloom stresses the importance of having proper health insurance. Find out why it’s so important to make sure you and your family are covered.

Can you cancel health insurance at any time?

Yes, you can cancel your health insurance with Bloom at any time and you won’t be charged any cancellation fees or penalties. However, it’s highly advisable to consider the advantages of a health insurance policy. You always have the option of changing your health insurance plan to one which is more cost-effective or suits your medical needs better.

How will you pay for your medical expenses?

No one can anticipate when or if they will fall seriously ill, have an accident or develop a chronic condition, but quality healthcare is a costly affair which can easily run into hundreds of thousands of rands very quickly. Can you afford to run the risk of falling into debt or being unable to secure proper medical treatment because you were not covered by medical aid or a health insurance policy? A common excuse that we often tell ourselves is that medical insurance is an unaffordable luxury item. However, consider the fact that covering the cost of a large medical bill out of pocket will far outweigh any monthly premium.

People without health insurance suffer in the long-run

Those without health insurance tend to put off going to see a doctor or treating an illness because they’re afraid of the costs involved. The result is that a disease or condition can only get steadily worse making it even more difficult to treat and lowering your risk of recovery. Early detection and treatment of chronic diseases, like diabetes or cardiomyopathy, increase your chances of managing the condition or making a full recovery. If you have health insurance you can:

  • Go to a GP or specialist to get a diagnosis and treatment plan
  • Be treated for your condition as soon as possible
  • Be admitted to a hospital for specialised care

4 Excellent reasons to get health insurance

If you’re looking for more incentive then consider these excellent reasons to get health insurance:

1. Safeguard your savings

A serious health incident can drain your personal finances. Don’t lose out on the precious nest egg you have saved to buy your first home or for financing your child’s university education. Ensure that your savings are kept safe and used for their intended purpose by investing in a health insurance policy. It’s the smart thing to do.

2. Avoid membership rejection

Most people are fit and healthy when they’re young, and health insurance can seem like an unnecessary expense. But what happens when you get older and start to develop medical problems or even a chronic disease? Did you know that your membership application could be rejected if you have certain pre-existing conditions? Invest in your future healthcare when you’re young and that way you can rest assured you will be covered as you grow older.

3. Keep the whole family safe

We also suggest thinking about getting health insurance for parents. Elderly people tend to have a higher risk of falling ill or developing a chronic medical condition. Find a comprehensive family health insurance package for all your dependents.

4. Protect yourself against chronic diseases

A Chronic disease is a persistent, long-term medical condition. While some of these conditions tend to affect people who are older (45 years+) and some develop because of a hereditary trait or predisposition, many people develop these conditions at any time in their lives and without warning. Conditions like heart disease, obesity, mental illness or respiratory problems all require specialised, long-term medical care that you will not be in position to support out of pocket.

How much health insurance do I need?

The amount of health insurance you need depends on various factors, including your personal health needs, and your budget. To determine the appropriate level of cover, consider factors like your age, existing medical conditions, health risks, family history, and lifestyle choices. Remember to include your family’s needs too. Once you’ve assessed the healthcare needs, you can help estimate the necessary cover type of cover you will need. If, however, you remain unsure about how much health insurance you need, we recommend speaking with a trained health insurance consultant who can provide valuable insight and advice.

How much does health insurance cost?

Bloom, in conjunction with Momentum’s Health4Me offers a range of affordable health insurance plans. These are the Health4Me Bronze, Health4Me Silver and Health4Me Gold packages that come with varied benefits. The entry-level costs start at just R517 per month. In order to qualify you need to be over the age of 18 years and earn a minimum of R8,000 per month and less than R30,000.


No one can predict the future, but we can plan for it. Health insurance protects you from the overwhelming costs of good quality medical care if you or a family member were to fall ill. It’s very difficult to secure health insurance if you already have a pre-existing condition or have been diagnosed with a chronic disease. Get yourself covered with health insurance by contacting our team of trained consultants. Contact us for more information or for a free quote.

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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