The Cons of a Premium Medical Aid Plan

When it comes to your health you need to plan ahead and make the right investment in the right medical aid plan for your needs. But this does not have to mean that you should spend a fortune on it. Most people think that investing in an entry level medical aid plan will not have the same benefits as investing in a premium plan, but this all depends on your health and what your medical needs are.

Thus if you are someone that does not get sick very often you will most likely benefit more from an entry level plan than you would benefit from a premium plan. But you also need to keep in mind that nobody knows what the future might hold, and anything can happen.

Thus you need to keep in mind that with an entry level plan you will most likely have to pay for the day to day medical needs and you will still be covered for the big medical needs and treatments. But on the other hand a premium medical aid plan will offer you comprehensive cover for day to day and big issue medical treatments, but this cover does come with a big price.

Here is a look at the cons of investing in a premium medical aid plan, as opposed to investing in a basic entry level plan.

Pay for Something that You Will Not Need

With a premium medical aid plan you might end up paying for something that you will never need. If you think about it how many times in your life will you have to be hospitalised you will realise that investing in a premium plan will not be worth the money you pay each month.

Some medical aid plans can cost you more than a thousand each month, and if you put that money that you would have spent on a plan in a savings account each month you will be able to cover your own medical needs. Thus you need to carefully plan ahead and think about what your needs are, because maybe you would be better off saving your medical aid money and then just investing in a simple basic medical aid plan or even just a basic hospital plan. This way you will still be covered and you will be able to save up some money for something that you really need.

You Will Still Need to Pay in

Even if you invest in a premium medical aid plan you will still have to pay in from time to time. This means that you will have to spend extra money on top of what you are already paying each month for your medical cover. Another thing to also keep in mind is that not all medical treatments and diseases are covered and this means that you will still have to pay for it in the end.

The Benefits of an Entry Level Medical Aid Plan

Planning for your health is crucial, and if you do not invest in a medical aid plan you might end up in deep financial difficulties due to increasing medical costs. Because nobody knows what the future might hold, it is crucial that you plan for every type of eventuality.

But a lot of people still believe that proper medical care is out of their reach and that it is only the rich who can afford it. But this cannot be further from the truth as there are very reasonable rates out there for entry level medical aid plans.

This means that you will pay a low monthly premium and that you and your loved ones will be covered in case of an emergency. Here is a look at why you should invest in an entry level medical aid plan to protect your future health.

Low Monthly Payments

With an entry level medical aid plan you will have very low monthly payments, and thus you will end up saving a lot of money when compared to having a bigger medical aid plan. Thus if you are looking to protect yourself and your loved ones, but you are on a budget, there is no better option than to invest in an entry level medical aid plan.

Obviously you will not have the same type of cover as you would have with bigger plans, but at least you will know that if something serious should happen you will be covered and taken care of.

Comprehensive Cover for Most Illnesses

An entry level medical aid plan will also give you cover for most serious illness and treatments. This means that in the end you will still be covered if something serious should happen to you or your loved ones.

Most of the time these plans provide less cover for day to day expenses like doctor and dentist visits and prescription medicine, and will offer you more cover when it comes to serious illnesses that can end up costing a lot of money.

This way you will be able to rest assured that you and your family will be covered in case of serious illness. Thus there is no reason not to invest in your future health today.

Only Pay for What You Need

Entry level medical aid plans can keep their costs low because you will most likely have to pay for most of the day to day medical needs, whilst they will end up covering you in case of serious illness and disease.

This will most likely include cover for dread diseases like cancer, tumours and serious medical emergencies. Thus there is no need not to protect your family and loved ones today by investing in an entry level medical aid plan for them. If you are serious about your health there is no better investment that you could ever make.

New Medical Device and Product Marketing Approvals

Every month, thousands of new medical devices are submitted for marketing approval from the FDA. Many of these devices are turned down or re-classified, but hundreds of them end up getting approved for marketing nationwide. There are several types of approvals companies can seek from the FDA, which are PMA, 510(k), and HDE. We will review each type of approval in this article and provide a few examples of the devices approved this month. Manufacturers and supply companies must also get their items re-approved each time a change is made, such as different electronic boards, lubricants, or even when software is changed. These "re-approvals" seem to make up the majority of the applications for approval, but there are still many new devices and companies who are striving to improve medical devices and equipment world wide.

Pre Market Approvals (PMA) are for devices that require more complete testing for functionality and safety, because they are new to the market or are high risk devices. A few recent devices that have been approved under this category are a Harmony HiResolution Bionic Ear System, which was a model change that needed to be approved, not a brand new product, as well as a Open Pivot Heart Valve. The heart valve manufacturing location was approved by the FDA.

The next category is the 510(k) category, which is for medical devices that are similar to other medical devices that are already legally marketed for the exact same use. When a device is being marketed for a different use, it would most likely need a PMA or HDE approval instead. Some examples of recently approved medical devices that fall under this category are the 101 Total Hip and The G60 Diagnostic Ultrasound System. Both of these items were medical devices that fell under this category, because they were substantially equivalent to existing devices being used for the same thing.

The third category is Humanitarian Device Exemptions (HDE). These are devices that are considered less of a risk, because they are not used with the mainstream public. To qualify for HDE approval, it must be a medical device or diagnostic tool used on a condition or disease that affects less than 4000 people within the USA each year. Companies who market these types of devices are generally planning on taking a loss when bringing these products to market. When a product is only designed to work with less than 4000 people each year, the costs and expenses of getting this product to marked will generally outweigh the profits a company will make.