Travel & Medical Insurance

Medical and travel insurance in South Africa is a budding market. Not long ago Africa was on the verge of exploding with bad news and terrifying situations. Most of these have been resolved, especially in South Africa, and the economy is beginning to look very rosy.

Quickly working on its potential for expansion, insurance companies in South Africa have started marketing new plans along with a spring cleaning of their internal agendas. For instance, HIV and AIDS have practically halted the medical insurance growth because of fear among insurance companies. It was a situation where there are no controls, not until the new treatment for this virus began to be administered (ARVs). Now, all the hesitation is dissipating and a fresh start is being seen in the medical insurance market.

National Health Insurance (NHI)

There is also a new health care insurance plan that will be implemented starting in April 2012. In this national policy, all public health facilities are required to follow certain standards in health treatment and health care.

According to Aaron Motsoaledi, the Health Minister of South Africa, it will be a 14 year project with 2012 up to 2017 being designated the preparation period. Employers will be required contribute to the fund of the NHI based on the number of employees and business portfolio, regardless of the term of employment.

The NHI Fund will be used to restructure, insure and provide adequate medical care for everyone as well as make treatment and insurance affordable to all. The government plans to tap private companies and individuals to assist in providing comprehensive and wide-reaching medical care.

Travel Insurance

South Africa is having a field day with so much interest in the different destinations in the country. The influx of visitors has more than doubled and this has spurred an internal travel growth as well. The country has a lot of space and places to cover and although the road infrastructure is excellent for most cases, travel from one place to another is tedious. Not everything is a stone’s throw away with wide open spaces between destinations.

Anyone traveling to South Africa should get shots – that has always been emphasized in the international travel industry. Most South Africans are still at a stage where they are trying their wings and visiting local places instead of international. The cost of international travel is a major issue as is getting all the necessary documents in order.

Nonetheless, compared to travel 10 years ago, there has been an obvious growth spurt. This is expected to explode in a few years when the tourism industry really kicks off. More tourists would mean more income for South Africa, and more money to spend. It will fall into place quite neatly especially with the sincere efforts of the government and the cooperation of the private sector.