Setting medical aid GAP COVER in place is a great way to ensure that you aren’t faced with sudden and ill-affordable expenses when your medical insurance cover has a shortfall.
Unfortunately, most medical aid policies can’t cover the full amount of treatment and in many of these instances, the deficit can be quite expensive. While GAP COVER is an added security, it’s good to know what it really covers.
We are often asked if non-hospitalised treatments are covered and the short and simple answer is ‘no’. GAP COVER is designed to ensure that medical aid members are safeguarded against unexpected costs during hospitalisation. The GAP COVER policy simply covers the deficit between medical aid tariffs and private rates required by medical and healthcare service providers. In order for your medical GAP COVER to activate, you must be admitted to a hospital. Service providers treat you while you are in hospital. If their rates exceed the medical aid tariffs, this will be paid by your GAP COVER, depending on your product options and the benefits available to you.
Gap Insurance Cover doesn’t have to be expensive
Many people are worried about the additional costs of gap insurance cover and might think that the more affordable options skimp on benefits. As such you might hesitate to register. Packages considered truly affordable should range between R130 to R300 per month. This is considered a reasonable amount to pay and should provide you with decent benefits, depending on your needs and requirements. Consult an intermediary (broker) for advice.
For more information on gap insurance policies available to you, we welcome you to contact us via email or telephone at Total Risk Administrators today.
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