With extremely high healthcare costs today, gap cover for employees on medical aid isn’t uncommon. Let’s face it, in South Africa when your employer provides you with a health benefit, you can consider yourself lucky.
Gap cover for Employees on Medical Aid
For a small monthly fee, an employer can ensure his staff has cover for any health treatment. This will help to secure a trusted employee because by belonging to a healthcare plan there will be less money stress when the bills arrive.
If you take into account the poor state of government hospitals and healthcare. The best deal an employer can offer would include gap insurance.
Gap insurance Advantages are Many and Varied
Gap Insurance covers the shortfall between what your healthcare pays and the actual charges.
It is possible to downgrade a medical aid scheme option and at the same time take out gap insurance, however, this may result in no actual plus to the employee.
Consult an Advisor if Unsure
Employers should consult an adviser on Gap cover. There are many types of Gap policies and an adviser can deal with an insurer on your behalf. A small fee each month gets you much-needed cover.
Your employees Are your Best asset
For many employees, the concept of finance starts in the workplace. Giving staff an opportunity to decide and see the benefits of Gap Insurance for themselves would be excellent.
If an Employer can make Gap Insurance a compulsory benefit, he would be providing an invaluable safety net for his workers. More and more firms are offering subsidised Gap Insurance cover to their staff who see the benefits.
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All info was correct at time of publishing