Taking Out Gap Cover to Insure Medical Aid Shortfalls
July 10, 2019
Taking out gap cover is critical if you have medical aid membership in South Africa.
That’s because most medical plans from registered medical schemes cannot and will not pay all of your medical costs.
Why do I need gap cover for medical aid?
Let’s say you land up in hospital and need an operation. There will be hospital bills, specialist bills and pharmaceutical bills to pay.
And let’s say the medical aid plan you are on states that it will pay 100%.
Unfortunately, the 100% referred to here does not mean 100% of the sums that appear on your bills.
All the 100% refers to is the list price that appears on the medical aids internal tariff list.
Assume an operation costs R95 000 and that the price on the internal list is R55 000. Without insurance you would have to pay the extra R40 000 out of your pocket.
That’s where medical gap cover enters the picture. For a small monthly premium you can insurance shortfall such as the above R40 000.
Is taking out gap cover difficult and expensive?
No. Quite the opposite: taking out gap cover is quick and cheap!
First you get a quote and sign up by completing and submitting the short form on this page. An expert agent will then get in touch to take you through the signing up procedure.
Secondly you will be pleasantly surprised at how affordable gap cover is. Your entire family can get this type of top-up cover for a fraction of your monthly medical aid premium.
How much does gap cover cost?
Approximately 5% to 10% of your monthly medical scheme premium will equate to the monthly gap cover premium you will pay.
If you are currently a medical aid member, you qualify for gap cover. Sign up now! Start the process by completing and submitting the short form on this page.
All info was correct at time of publishing