Members own funds, also known as not-for-profit health insurance, are increasingly becoming popular. This is attributed to the fact that they are run to address the interests of their members, and not the shareholders. Not having shareholders, but members mean that instead of trying to reduce their costs and increase their bottom line, members enjoy reduced premiums and maximum health benefits.
Why Join Members Own Health Fund?
One of the main reasons to join members own health fund is that they tend to relatively cheaper than for-profit health insurance. Not-for-profit funds have always managed to keep their profits low. Surprisingly, they are also able to offer better services than the for-profit group. Thus, if you have been looking for a reason to join a not-for-profit health fund, you have an answer – value for your money.
Benefits of Joining Members Own Health Funds
What does one gain by joining a not-for-profit health fund? Here are three benefits accrued to joining members own health fund.
This has always been a major attraction to people. The fact that you can get relatively small premium amounts and still get the services means makes them quite attractive. Thus, it becomes a lot easy to save more or spend your hard-earned cash on other pressing needs.
Better Claims & More Choices
Another befits of members own funds is the fact that it offers more on claims. Ideally, this not just about the monetary gains you get when making a claim, you also enjoy better coverage. For instance, members own funds offer more options in terms the private hospitals you can go to, and not just what you state in your policy in the case of for-profit health insurance.
Great Customer Services
You can be sure that a not-for-profit health fund is in a better position to serve you right all. After all, they are in business to serve you not to make money. Besides just giving what you can, they can go as far as advising you on better ways of using the policy because they want you to benefit.
Whether you need an individual insurance plan or one for your family, members own insurance funds are indeed the way to go. Here, you will be treated as a member, and not just as a number.