The perfect Gap Cover is designed to protect individuals who have a medical aid from additional unbudgeted costs during hospitalisation, by covering the differences between medical aid tariff and private rates. When looking at medical aids, there are many different options you can choose from and the same goes for Gap Cover polices.
Take a look at these few tips on how to find the perfect Gap Cover to protect your needs:
Consider where the gaps are on your current medical aid:
People incorrectly believe that a comprehensive medical aid option will cover all of their in-hospital service provider treatment costs, which is often not the case. Review your current policy to find out what they pay for and where the gaps are.
Consider private medical rates and the rates of specialists and surgeons:
Private healthcare providers and specialists are free to charge their own fees for their medical care. This can be 300% or even 400% more (i.e. 3 or 4 times more) than what your medical aid allocates for similar treatments.
Consider your budget and savings:
People often save for a rainy day or a special holiday. Is your nest egg big enough to cover your medical bills in the event of a serious accident or the diagnosis of a rare illness?
Take a look at what Total Risk Administrators offers for Gap Cover options here.