MyMoney Online, Make Money Mondays

Save money by downgrading your medical aid. But first consider this…

The Money Show’s Bruce Whitfield interviewed Dr Ryan Noach, Deputy CEO of Discovery Health, for the weekly "Make Money Mondays" feature.

Noach discussed what to consider before you downgrade your medical aid.

Scroll down for quotes from the audio below.

Medical inflation is driven by the demand for medical services.

Dr Ryan Noach, Deputy CEO of Discovery Health

Medical aid is expensive but absolutely critical.

Dr Ryan Noach, Deputy CEO of Discovery Health

Only about 3% of our members choose to downgrade per year.

Dr Ryan Noach, Deputy CEO of Discovery Health

The decision to downgrade should not be taken without taking advice.

Dr Ryan Noach, Deputy CEO of Discovery Health

About 20% of members each year suffer a catastrophic medical expense.

Dr Ryan Noach, Deputy CEO of Discovery Health

You need to plan well in advance for retirement, because that’s when you need healthcare the most.

Dr Ryan Noach, Deputy CEO of Discovery Health

The health needs of your family should determine your choice.

Dr Ryan Noach, Deputy CEO of Discovery Health

Consumers tend to be passive and only choose to understand their benefits in time of need.

Dr Ryan Noach, Deputy CEO of Discovery Health

We have 22 plans in our range, because we try to match every health need with every financial one.

Dr Ryan Noach, Deputy CEO of Discovery Health

Enter your email address in the form below to receive a newsletter containing the seven most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.


702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Black Friday… there are scams and lures everywhere!

Black Friday… there are scams and lures everywhere!

The Money Show’s Bruce Whitfield interviews Personal Finance Consultant Samke Ngwenya.

White males in W Cape the most successful tech start-up founders – survey

White males in W Cape the most successful tech start-up founders – survey

Black women, however, are more likely to run a start-up than white women. Bruce Whitfield interviews Ventureburn's Stephen Timm.

Succession planning 101 (or how transfer power from one generation to the next)

Succession planning 101 (or how transfer power from one generation to the next)

The Money Show’s Bruce Whitfield interviews Aurik Business Accelerator founder Pavlo Phitidis.

'The South African stock market is massively hedged against a weak rand'

'The South African stock market is massively hedged against a weak rand'

The Money Show’s Bruce Whitfield interviews Galileo Capital Personal Financial Advisor Warren Ingram.

Should you buy Naspers shares? They’re making many people very rich…

Should you buy Naspers shares? They’re making many people very rich…

Naspers is up about 100%, so far, this year. Bruce Whitfield interviews Just One Lap Financial Educator Simon Brown.

Why medical aid is woefully inadequate (and how affordable gap cover helps)

Why medical aid is woefully inadequate (and how affordable gap cover helps)

It may come as a shock (but it’s all there in the small print); medical schemes do not fully cover you when you’re hospitalised.

Popular articles
So what exactly is radical economic transformation?

So what exactly is radical economic transformation?

Wits associate professor of economics Christopher Malikane speaks to Azania Mosaka about the term that is being bandied about.

Shop 'til you drop: The top 'Black Friday' deals this week

Shop 'til you drop: The top 'Black Friday' deals this week

Start your Christmas shopping off with a bang at these major retailers offering some impressive discounted sales for Black Friday.

Pamela Nomvete on her downfalls as actress, and 'climbing back'

Pamela Nomvete on her downfalls as actress, and 'climbing back'

This week Xolani Gwala's speaks to former Generations actor Pamela Nomvete for #WhatInTheWorldHappenedTo feature.

How Naspers paid peanuts for Tencent (China’s most valuable company)

How Naspers paid peanuts for Tencent (China’s most valuable company)

In 2001 Naspers invested $32 million in (then tiny) Tencent. Learn more about the wildly profitable Chinese behemoth...

'The university degree is dead'

'The university degree is dead'

Flux Trends founder Dion Chang gives five reasons why he believes getting a degree is past its sell by date.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?