Medical Insurance
We’ve created this Medical Insurance glossary for you. Understanding Medical Insurance terminology is important. If you struggle to understand something, Get Medical Insurance has made it easy for you. Here’s your Medical Insurance glossary from Get Medical Insurance.
If you don't know the meaning of certain specialised words, learning about Medical Insurance can be difficult. Read this Medical Insurance glossary to help you understand some of the most important Medical Insurance terms.
Annual Limit: This is the amount an insurer will pay per year for a certain treatment or service.
Benefits: The healthcare items or services covered by your specified plan.
Contracted Service Provider: A medical service provider designated by your insurance provider.
Co-payment: A co-payment is an amount, either specified in Rands or as a percentage. This amount is paid by an Insured Party to a Contracted Service Provider. A Co-payment is not covered under a Medical Insurance policy.
Chronic Disease: A disease that lasts three months or longer. The disease cannot be prevented by vaccines or cured by medication. A chronic disease can, however, be managed with medication and lifestyle changes. A Chronic Disease needs to be managed for life. This includes lifelong treatment.
Dependant: Includes the Eligible Spouse, Eligible Child, Special Needs Child or Eligible Special Dependant.
Exclusions: Each policy will have a list of exclusions. This includes various services, conditions and events excluded from a policy.
General Practitioner (GP): Is a medical practitioner who provides primary healthcare services.
Medical Emergency: An unexpected life-threatening medical event that requires immediate treatment. Failure to access emergency medical treatment can result in serious health implications.
Medical Insurance Premium: A Medical Insurance premium is the amount of money you pay in exchange for coverage. Medical Insurance premiums are usually paid monthly.
Medical Practitioner: A qualified medical practitioner, who is registered to practice. A medical practitioner must be registered with the Health Professions Council of South Africa.
Over The Counter (OTC) Medicine: OTC Medicine is any medicine that can be purchased without a prescription.
Per annum: Is also known as per year: The period from 01 January to 31 December of any year.
Premium: The amount you pay each month in exchange for Medical Insurance coverage.
Policyholder: Also referred to as the ‘policy owner’. A Policyholder is the person that owns the Medical Insurance policy.
Waiting period: A period of time during which you cannot claim for certain benefits.
Medical Insurance protects you and your wallet from the unexpected. You never know when your health situation could change with an injury, accident or illness. Your health is never something you want to take for granted. Get protected now. Get a Medical Insurance policy from Get Medical Insurance today.