Topmed gap cover is not something we think about when we plan on buying a medical aid policy.
We tend to believe the policy covers us for all medical emergencies, and that is as far as the planning goes.
While this plan is okay when dealing with doctors on a normal basis, it becomes insufficient when you need the care of a specialist.
A specialist or surgeon have vastly different rates to a standard medical aid rate.
Topmed gap Cover for All those Different rates
Most South Africans have a medical aid policy which they believe will pay for any doctors expenses should they go in for surgery. This is only true if the doctor charges standard medical aid rates.
It is when the doctor charges more than this rate that things become a little more difficult because there will be a portion of the bill unpaid.
And sometimes the unpaid portion exceeds the amount paid by the medical aid. Doctors set the rates that they wish to earn. They don’t take medical aid rates into account.
Topmed gap cover – You only See its true Value when Claiming
Gap cover can appear to be just more money every month. The truth is that you will only appreciate the value of gap cover after surgery.
Especially when faced with a massive hospital bill which has only partially been paid by your medical aid policy.
Don’t get into a situation where you might have to take out a second bond on your house to pay for medical expenses. Bills for a complex procedure like heart bypass surgery can make this a reality.
Trying to save the money for an emergency is not a good idea. Let’s say that you need to have a triple bypass which costs R100 000. Instead of taking a gap cover policy, you set aside R350 per month. (What your average gap cover costs). It would take you just over 25 years to save the R100 000 you need.
So, is gap cover a waste of money or is a shortcut to saving for medical treatment in the future.
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All info was correct at time of publishing