Ten reasons to get medical gap insurance in South Africa

When you first think about gap cover, you might feel that it’s a waste of money. Here are Ten gap cover reasons you need to buy it.

Why do I need it you say, If I go to hospital I am fully covered by my medical aid. Why go the expense of adding yet another policy?

Gap cover is not a policy, it is short term insurance that protects you against high medical costs. That’s why you need it.

Reasons You Should Get a Quote

Ten gap cover reasons

1) Medical aids have a different view of 100% cover

Your medical aid is being sincere when it says it will pay 100% of costs in hospital. What they don’t say is that it’s 100% of standard medical aid rates.

Right now your doctor and hospital charge more than the standard rate. And the cost difference you have to pay.

2) Standard medical aid rates are too low

There has long been a disconnect between what the medical aids feel a treatment should cost and what it actually does cost. Most independent doctors and hospitals are not able to make a go of their business charging these rates.

3) Doctors and hospitals set their own rates

Doctors and hospitals are business ventures. They have overheads to pay and want to make a profit just like everyone else.

They are entitled to charge what they want to. The better their reputation, the more they can charge. We all know that the more specialist the care we receive, the more we will have to pay.

4) The charges could be up to 500% more

What you might not know is how much these mark-ups could be. With some charging fees that are as much as 500% over the standard medical aid rate, it’s not surprising that costs can add up quickly.

5) Good healthcare is extremely expensive

And we all want to have the best in healthcare. You do not want to have to go to a state hospital and wait all day for someone to see you. If you want the best, you need to pay for it.

6) Having enough saved is hard

If you need bypass surgery, you could be looking at a bill of a couple of hundred thousand Rand. Meaning you could be left with a huge sum of money to come up after the claim has been processed by your medical aid.

Let’s say that the medical aid paid R100 000, you would need savings of R100 000 to cover the rest. Now, to save that kind of money, you would need to put away R1000 for around about 8 years.

7) Keep your savings for when you need them

And, if you have just come out of a hospital, you are going to need some time to recover. You don’t want to have to rush back to work before you are ready just because you need the money.

8) Medical aid limits run out quickly

You know how it is, towards the end of the year you hope no one gets sick because the medical savings account is exhausted. Whilst the limits relating to hospital care are a lot higher, they do still exist.

What if you need a few cycles of chemotherapy, for example? Medical care is expensive and your benefits can run out fast.

 9) Gap cover will cover the rest

Gap cover will pay in the shortfall, leaving you free to seek out the best medical care and letting you spend your savings as you see fit.

10) Gap cover is extremely affordable

And, despite the amount of cover you are getting, the premiums are pretty affordable.

You can cover your spouse and dependents under the same policy and premium. Premiums average off at about R200 a month.

To get a FREE gap cover quote, just fill in the form and submit it

All info was correct at time of publishing