Medical schemes and the high cost of late-joiner penalties
Leave it too long — or take medical aid gap years — and you may pay dearly
21 July 2019 - 00:06
One of the most onerous underwriting tools in the hands of medical schemes is the late-joiner penalty, which can be as high as 75% of your medical scheme risk contribution — and may apply for the full duration of your scheme membership.
Ten years ago, a Cape Town reader and her three siblings wanted to jointly pay for their elderly parents, aged 60 and 61 at the time, to join a medical scheme...
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