Recent research from financial comparison Web site ThinkMoney revealed that Fedhealth and Momentum were ranked the best medical aid providers by ThinkMoney users. From over 2 500 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 5 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 5, respectively. Fedhealth's claim process scored particularly highly (4 out of 5), while its payout process received a score of 3.9 out of 5. Additionally, over 75% 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 5. 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 1 200 reviews posted on the site. Its overall rating was, however, lower, at 3.5 out of 5. It also rated particularly low on premiums, scoring only 2.7 out of 5 – meaning that ThinkMoney users generally find Discovery's premiums to be more expensive than other providers.
These statistics are particularly timeous 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."
For more information, please contact Gareth Mountain:
E-mail: firstname.lastname@example.org Cell: (079) 099 6798
ThinkMoney.co.za is South Africa's leading financial product comparison Web site with over 230 000 registered subscribers. It shops around and finds the best deals on a variety of financial products so you don't have to. ThinkMoney is entirely independently owned and run and its comparisons are 100% unbiased.
* Information correct at time of going to press