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Anita de bruyn
Choosing the right Gap Cover:
In today’s world, it’s a sad place that so many doctors and specialists are charging much higher fees than medical aid schemes rates. This leaves the patient having to fork over money out of pocket. At times these payments can be ridiculously expensive, and can also happen quite regularly depending on your medical requirements, leaving a sour taste in the mouth of any medical aid member. As many of the times members are unaware of the financial implications and how this affects them.
Unfortunately, with any service, it’s difficult to gauge which is the best, so we should rather look at which is the best for YOU. Selecting the correct cover for you is solely based on your needs and circumstances. In this article, we will explore some factors that may clear up your queries on which to select. Maximum Rate:
The MAXIMUM RATE refers to the amount that will be covered by a Gap Cover shortfall insurance. In most cases, Gap Cover’s maximum rate is up to 500% meaning that in the majority of cases you will be covered for the medical aid shortfall. Some Gap Covers may only pay out 200-300%. As specialist and Doctors usually charge more than 2-3x more than medical aid rates. It’s imperative to find a Gap Cover that will cover you for the shortfall. Value-Ads/ Benefits:
Some Gap Covers Insurances in addition to providing gap cover for in-hospital procedures, co-payments and, in some cases, day-to-day medical costs and treatments, can offer additional value ads one may find in the best interest of the member. In the event of death or disability of the main member, your family will continue enjoying uninterrupted medical gap cover and the provider will cover the cost of your monthly premiums. Waiting Periods:
Waiting periods are usually what gets most members up in arms, as they may sit out of pocket for periods of time, that could make you second guess if Gap Cover is really worth it.GAP cover providers will implement waiting periods for all joiners, but these generally relate to pre-existing conditions – pregnancy included. Gap Cover is designed to ensure your coverage against unforeseen circumstances, the waiting period can be waivered if you were for example in an accident or ended up in a hospital for reasons out of your control. Read the fine print and make an informed decision.
13 hours ago
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