With medical aid plans becoming more expensive and hospitals starting to charge higher and higher rates, it makes sense to get a product like medical gap cover that bridges the gap so you don’t end up being out of pocket. In essence, medical gap cover gives you financial help for the portion of in-hospital bills that your normal medical aid doesn’t cover.
With medical gap cover, you won’t have to worry about excesses or co-payments, which means you’re covered for your medical expenses – this cover varies depending on which gap product you have. Bear in mind that gap cover only pays for in-hospital care – not day-to-day medical expenses.
These days anyone who has a medical aid should have a gap product attached to it. In fact, it’s one of the best ways to save money on your monthly premiums if money is tight. For example, you may want to downgrade your medical aid plan, but still want in-hospital care that is completely comprehensive. Gap cover is a way of doing this, allowing you to top up your hospital coverage in an affordable way.
Still not sure how gap cover can help you? Consider this example.
When Janine Smit* had her baby delivered at a private hospital, she thought she’d be fully covered for all her expenses, because she had comprehensive medical aid cover. What Janine didn’t realise is that her total bill for the delivery (including the anaesthetist, gyneacologist and paediatrician, plus her three day stay in the hospital) would only be partially funded by her medical aid.
Although she was on a comprehensive medical aid plan, Janine was only paid 200% of the National Health Rates. By the end of her stay, although she may have had a beautiful healthy baby in her arms, she also had to fork out over R7000 of her own money. If Janine had taken out gap cover, it would have covered nearly all of these additional expenses – and she wouldn’t have had to deplete her savings in order to cover her outstanding bills. Gap cover is also really affordable, costing as little as R140 per month – so it makes complete financial sense.
Now that Janine knows about gap cover she’s made sure she’s signed up. In this way, when she has her second child there won’t be any unwelcome expenses to take home with her – just a tiny bundle of joy.
*not her real name
Ready to get medical gap cover? Get a medical gap cover quote today to make sure you’re covered for whatever in-hospital expenses come your way.