Medical Gap Cover for Employees
September 27, 2016
Medical aid is becoming outrageously unaffordable. Today, employees regard medical aid and gap cover as the greatest perks their employers can offer them. By providing medical scheme membership as well as medical gap cover for employees, you can be sure of contented staff. In fact, most employees value medical aid and gap cover over a pay increase.
Many South Africans can afford to belong to a medical scheme is through an employer. Employees, especially those with young children, appreciate knowing that their family have insurance in the event of an accident or major illness.
Employers Won’t Sign their Employees’ Death Sentence
The state of public health care facilities in South Africa merely reinforces the fact that employee benefits such as private healthcare insurance and gap cover are an invaluable part of employee compensation packages. Without this cover, when you land up in a state hospital, it can be likened giving you a death sentence.
Let Gap Cover take care of the Shortfall
Medical gap cover is necessary because your medical aid won’t pay in full for some treatments. They adhere to the National Health Reference Price List, drawn up by the Department of Health. Specialists don’t accede to this price guide and charge whatever they like.Gap cover pays the shortfall between what your specialist charges you and what the medical aid will cover. Usually, a medical scheme will pay only about a third of the doctor’s bill. So without gap cover, you have to pay the other two-thirds.
Understand Gap Cover for Employees
Employers need to be guided by a professional broker as to what precisely gap cover is.They need to know about the waiting periods imposed. There are quite a few gap cover providers and their products can all differ significantly. Employers need to get a financial advisor in who can inform staff on how gap cover works. They need to know that gap cover won’t replace your medical aid plan. It will merely assist you with meeting the gap left between what your medical aid payout and the frighteningly high prices the specialists charge you.
Staff need to know that if they don’t like the idea of gap cover, they can move onto another medical aid that will cover them up to 3x the scheme tariffs. But then they’re going to be looking at huge premiums each month. Gap cover, in the region of R200, is a far more reasonable approach.
Offer Employee Benefits that Count
These days it can be difficult finding excellent staff, and employers have to be resourceful when providing benefits. Employers who provide only thee usual perks may not be able to attract the staff they require. It’s no good offering a medical aid anymore. In fact, if gap cover isn’t part of the deal, members might prefer to exit the medical scheme and offering gap cover is a grand strategy of the employer to keep the staff they want.
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All info was correct at time of publishing