Welsh Financial Group

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Another one of our sister companies - SA Management, specializing in Corporate Risk Solutions.

Late Joiner Penalties Fee

Did you know that Medical Aids are not allowed to turn anyone away? However, they can impose penalty fees and certain restrictions before you may claim – such as:

• Members that have not belonged to a medical aid scheme before. Members that have allowed more than 90 days break since resigning from their previous medical aid - a 3-month general waiting period may be imposed, and 12-month condition specific waiting periods may be imposed on pre-existing conditions.

• Members who have belonged to a previous medical aid scheme for less than 2 years and allowed less than 90 days break since resigning from their previous medical aid – a 12-month condition specific waiting periods may be imposed on pre-existing conditions that have occurred in the last 12 months.

Late Joiner Penalties can be imposed on members over the age of 35. Depending on the number of years that they have not belonged to a medical aid, a Late Joiner Penalty will be added to the member’s monthly contribution. It is worked out as a percentage of the contribution as shown in the table below and is based on the total number of years a member has not been on a medical aid since the age of 35 years.

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