Month: November 2013

Give your employees some healthy options

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Like retirement savings and disability cover, medical cover is a crucial part of everyone’s financial planning. “Good healthcare can be expensive and medical procedures can easily set you back by tens of thousands of rands,” says Sharon Rubens, Managing Director of Completemed Healthcare Consultants, a division of Sanlam Healthcare Management. “Add to that our alarming accident rate and increasing levels of chronic disease, then medical cover becomes an absolute necessity.”

With many open schemes in South Africa, you want to make sure that you deal with a reputable service provider that has a good track record, is solvent and covers a wide variety of conditions and procedures. Do not be shy to do your homework and check on the scheme’s payment and claims history and annual average increases. Reputable schemes will have proper annual statements and good financial record-keeping that reflects the state of their finances and you can call medical institutions or healthcare consultants to enquire if they have experienced any trouble with payments from the scheme in the past. ”

As an employer, you also want to make sure that your employees have access to options that address all their needs, preferably at an affordable price. Although affordability is important, cheapest isn’t always best advice. “They should be basing their decisions on the mix of benefits which best suits their needs,” says Sharon.

When choosing a medical scheme, your employees should consider their individual circumstances carefully. Do they have minor dependents? How often do they visit the GP? Would they be comfortable paying for doctor’s consultations and medication from their own pocket or do they need a savings account to cover it. Do they or their dependents have conditions that require chronic medication or treatment? Does the scheme offer a comprehensive optical benefit should they or their children require spectacles? Does it offer a good dental plan?

Does the scheme pay 100% of the in-hospital charges, or will they have to cover a portion? “Schemes differentiate between actual tariffs charged by the medical institution and scheme tariffs (the maximum rate the scheme pays for the procedure, service or medication). If the scheme tariff is less than the actual amount charged, the member will be responsible for the shortfall or it will be deducted from the savings account where applicable. Knowing exactly how much the scheme pays for what can therefore prevent nasty surprises later.”

“Lastly, your employees should check exclusions and limits. Some schemes exclude claims on certain conditions for a limited period of time when you join, or require medical screening beforehand that may lead to permanent exclusions of a pre-existing condition. They may also limit claims on the day-to-day benefits if a member is new to the scheme, or has never belonged to a medical scheme before. “Make certain employees understand the above aspects, exclusions and limits before they finally settle on a choice,” says Sharon.

For added peace of mind, you or your employees should enlist the assistance of a professional who can ensure that they understand and consider that the benefits offered by the scheme match their individual needs. “Talk to a healthcare adviser who can guide you through all the above mentioned pitfalls and terminology, this will give employees more peace of mind.

If you need free advice when implementing healthcare policies or decisions, contact Completemed and we will assist in making the process a whole lot easier. Our purpose and passion is to assist Employer Groups in providing on-going healthcare advice to enable continuous enhancement of their employees’ wellness and well-being.

All our clients are provided with quality support and assistance in their dealings with various open schemes and medical insurance providers in South Africa.

Completemed contact details:

Direct client care line: 0860 122 340
E-mail address: info@completemed.co.za
Physical address: 2 Strand Street, Bellville, 7530.
Web: www.completemed.co.za

Turning Passion into Profit

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TommyMakhatho

Tommy Makhatho on winning the 2013 Sanlam/ Business Partners Entrepreneur of the Year® competition winner

We chat to this year’s overall Sanlam/ Business Partners Entrepreneur of the Year® competition winner, Tommy Makhatho, owner of BiBi Cash & Carry, about his entrepreneurial journey and experiences post winning the title.

1. What was your reaction to winning the overall Entrepreneur of the Year® award?

Every time I get asked this particular question I always have a different response. The reason for this is that I experienced a range of emotions, all of which were extremely positive. Overall, I felt overwhelmed and incredibly blessed to have a team such as mine – as the award would not have been possible if it wasn’t for them.

2. What does it mean to you to be recognised for your business achievements?

I never really thought about being recognised for my business achievements or sought to be recognised. Instead, it has always been about pushing the envelope and exceeding my own expectations. However after winning this award and being recognised for my business’ achievements, it has made me aware of where we have come from and what we have survived thus far. It has also provided me with the adrenaline and strength to pursue another 25 years. This recognition makes me realise that this is only the beginning of our journey and that people should never stop dreaming, no matter their age.

3. How was business been after winning the title – have you noticed more interest in your business post the awards ceremony?

Business has been great – especially the working environment! My team realise they are a part of a bigger dream and this has boosted staff morale and contributed to a motivated working environment. I have also been approached by many companies wanting to take the business to the next level. This had in the past not happened on such a large scale, but thanks to the awards, opportunities are now presenting themselves.

4. Any future plans for your business?

Yes definitely! As mentioned before, I am constantly dreaming whilst other people my age are preparing themselves to cash out, retire and play golf. I however, plan to stay strong so my dreams and goals can still be achieved. The best way to achieve these goals is with a steady mind and healthy body so that I can chase after them, and still be the first at the office and last to leave.

Ultimately my future plans is to grow my business to the point that my business rivals Shoprite, mention my name at every Shoprite board meeting due to my understanding of the market like no other retail company.

5. What is your advice for business owners considering entering the EOY awards?

I strongly advise that entrepreneurs and business owners, no matter their business size, take as many opportunities as possible, because a business is all about taking risks – both good and bad. There will always be that one shot that hits the target, so consider entering awards such as the Sanlam / Business Partners Entrepreneur of the Year® competition, as the exposure and confidence it gives you and your business is tremendous.

Managing cultural sensitivity in the workplace this festive season

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The month of December is generally filled with a sense of excitement with not only anticipation for the end of year, but also around the various religious holidays within the period.

According to Dr. Erika Wassenaar, Group Manager: Learning and Development at Business Partners Limited, although Christmas Day is a public holiday in South Africa, it is important to guard against assuming that all staff celebrate this day as a religious holiday.

Wassenaar says that business owners need to manage religious holidays appropriately, given that in most workplaces, there is a combination of Christian, Jewish, Muslim and other religious and non-religious people working together in the same environment.

“Although there are various religious days in December, other than Christmas, some staff do not celebrate religious holidays at all. All of the various possibilities should be taken into consideration by business owners, as focusing corporate year-end events on a specific religion, i.e. Christmas, may result in people who don’t practice that particular religion feeling like outsiders, which can prevent true diversity within the workplace.”

She adds that business owners need to also ensure that all their employees’ unique cultural beliefs are equally represented and celebrated during the holiday season.

Advances in communication technology, such as the internet and cellular phones, have made the marketplace a more global concept. “In order for a business to survive, business owners need to be able to manage and utilise their diverse workplace effectively.

“Diversity in the workplace means bringing together people of different ethnic backgrounds, religions and age groups into a cohesive and productive unit.”

She adds that it is important for a business owner to be aware of and deal respectfully with each diverse group, culture, age group and religion in the workplace. “For example, business owners should determine which employees represent the four generations: Silent Generation or Traditionalists, who are employees born 1945 and earlier, Baby Boomers, born 1946 to 1964, Generation X, born 1965 to 1980; and Generation Y or Millennials, born 1981 and later.

“Each generation will have a different view about work values, life balance, religion, education and so on.”

Wassenaar says that managing diversity involves using the resources and experiences available for the benefit of the organisation. “A successful business owner can build a culture of tolerance and acceptance of religious views through education, training and conflict management strategies. Leading by example is the best way to show you respect and value each staff member in their own unique and diverse way and will ensure that the workplace is enriched by its diversity,” concludes Wassenaar.