For some, having gap cover as an extra to their medical scheme is simply for peace of mind. While for others, it is essential. Further, there are many Gap cover questions to ask before deciding to buy.
A lot of us don’t have space in our budget to fit in extra medical costs. However, a medical emergency could occur at any time.
And your savings may be completely wiped out if your doctor charges more than your medical aid scheme can pay. Before buying gap cover, you should know into which category you fall.
Gap cover questions to ask before you decide to buy
Gap cover is important but you need to clearly understand what it is. Medical aid gap cover is an add-on financial supplement policy. It is not a medical aid policy.
Your medical aid scheme might not cover huge hospital bills in full and having gap cover will prevent you from being responsible for these.
What does gap cover include?
Gap cover includes the shortfall between what your medical aid scheme pays out and the actual medical expenses.
It also covers expensive, specialised treatment and procedures.
What are your current medical aid scheme rates?
It is important to know what your medical aid rates pay out. Some pay 100% while other’s payout up to 500%. The lower this rate is, the higher your gap cover amount will need to be.
What are the requirements?
Although gap cover insures the unexpected, knowing your health conditions and thus requirements will be to your advantage. Some health conditions have a high possibility of needing specialist treatment and having gap cover for these is a great idea.
Expect the unexpected
Thinking about the unexpected in life is extremely necessary. You could be diagnosed with a life-threatening condition such as cancer or a heart disease in the blink of an eye and being prepared for it is essential.
Even medical aid schemes with higher premiums more than often set limits on how much they will pay for treatment and emergency procedures.
Enquire about how much your medical scheme will pay for these in order to ensure that you choose a gap cover plan that covers the shortfall.
Any more questions to ask?
Members should inquire about what is included in a certain policy, before deciding on a gap cover plan.
Medical aid schemes with lower premiums tend to provide fewer benefits and pay out less than those with higher premiums.
Further, they won’t pay for special procedures, which makes a better gap cover plan crucial. There are several options to choose from.
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All info was correct at time of publishing