The Hidden Costs of Sticking with the Wrong Medical Aid

Every year between September and December, South Africans face a critical crossroad: review their medical aid before premium hikes, or passively accept increases and hope for the best. Too many households fall into the latter trap - and the costs of inaction are far higher than most realise.

Paying for a plan that isn’t aligned with your personal needs can cost you more than just money. It can leave you underinsured when emergencies strike, force you to fund unnecessary benefits, and quietly erode your financial wellbeing. According to Multilink Financial Services, failing to review your cover is one of the costliest mistakes households make each year.

“We often see clients paying for benefits they no longer need or relying on cover that no longer matches their health situation,” says Pedri Reyneke, CEO of Multilink Financial Services. “This passive approach carries hidden costs: wasted money, financial strain, and dangerous gaps in care when it matters most.”

As South Africans prepare for 2026, households are urged to act now. Reviewing your plan isn’t just about cutting costs, but it’s about ensuring your medical cover aligns with your lifestyle, health needs, and financial reality before it’s too late.

Five Questions South Africans Should Ask Before 2026

1. Has Your Health Situation Changed?

Life changes fast, and your medical aid should too. Growing children, new chronic conditions, or approaching retirement all require adjustments. Paying for outdated benefits wastes money, while ignoring new risks could leave you exposed.

2. Are You Paying for Benefits You Never Use?

Dental, optical, physiotherapy: many day-to-day benefits go unused, yet premiums still include them. Review your claims history to see where you can downscale or redirect funds to cover what truly matters.

3. Can You Afford Your Current Plan?

Medical aid premiums are rising faster than inflation, and some households now pay more than 10% of their monthly income on cover. If your plan is straining your budget, explore alternatives that balance protection with sustainability.

4. Are You Fully Covered Where It Matters Most?

Cutting costs in the wrong areas can be devastating. Underinsuring hospitalisation or specialist care may save on premiums short-term but exposes you to major financial risk in an emergency. Ensure your plan protects you when it counts.

5. Do You Have the Right Partner to Guide You?

Medical aid remains complex. Independent advisors provide clarity, uncover hidden costs, and help consumers select cover that truly meets their needs, ensuring every rand spent is meaningful.

A National Moment of Choice

The coming months are more than routine paperwork - they present a pivotal opportunity for South Africans to regain control over one of their largest household expenses. Sleepwalking through premium increases without reviewing cover can cost families thousands annually and leave them underprotected when they need it most.

“The hidden costs of inaction are significant, and the wrong plan can quietly erode your financial wellbeing while leaving your healthcare needs unmet,” concludes Pedri. “This increase season, we urge South Africans to pause, ask the right questions, and make intentional choices rather than reactive ones.”