Have you read the small print of your medical aid policy?
If not you might be shocked to realise that you’re not actually fully covered when you’re hospitalised.
Medical aids cover you for your hospitalisation but falls short when doctors or specialists charge more than the medical aid tariff when you are in hospital. Your medical aid will cover 100% of your fees during your stay. But usually specialists and hospitals charge as much as 400% more than that. Who pays for the shortfall? You do. Unless you have medical gap cover.
Unlike medical aid, gap cover is paid directly into your bank account, and you can then settle the outstanding bills for your hospitalisation. In order to qualify for gap cover you need to belong to a medical aid.
This example will illustrate how gap cover can assist:
Assume your daughter needs to go for a tonsillectomy and the medical aid rate for the procedure is R2000. If you are on a plan covering 100% then R2000 is paid, if you are on a plan offering 200% then R4000 is paid, and so on. But here is the problem, your specialist charges R8000 for the procedure. The difference between what your medical aid covers and what your specialist charges is for your personal account. This could be an additional R6000 if you are on the 100% plan option.
Gap cover is a short term insurance policy and is very affordable. This affordable option will give you peace of mind by taking care of any shortfalls you may have.
Don’t get caught spending your holiday money or hard earned savings on unexpected emergency hospital bills.
Contact us to discuss how gap cover can make a difference in your life.