Guardrisk gap cover has become an effective tool in helping South Africans access healthcare affordably. Let’s face it, healthcare in ZA is quite expensive, and the costs may continue to rise in the future. No problem, you say, my medical aid scheme will sort me out whenever I need treatment. Are you sure?
Most medical schemes will pay claims up to a certain percentage of the base medical scheme rate set by South Africa’s Council of Medical Schemes. Depending on who your provider is, it could be 100 percent, 300 percent or 500 percent. The base medical scheme is usually the minimum treatment can cost and the actual cost for in-hospital or out-of-hospital treatment will probably be way higher.
Guardrisk gap cover is designed to ensure you don’t have to reach into your savings whenever treatment costs exceed what your scheme will pay. It also will help cater for co-payments in instances where your scheme requires you to pay something out of pocket to meet the cost of treatment.
Guardrisk is an insurance outfit headquartered in Johannesburg that prides itself in offering clients tailored risk solutions. They are a subsidiary of Momentum Metropolitan Holdings Limited, one of South Africa’s leading financial services providers. Guardrisk, and the customised insurance products it offers, are part of Momentum Metropolitan’s commitment to improving the financial wellbeing of South Africans and residents of other countries where it has a presence in.
According to their marketing, Guardrisk’s insurance products are unconventional but they can be broadly classified into:
- Motor
- Education
- Health
- Engineering
- Marine
- Family
- Workplace insurance
Health
In the health sector, Guardrisk offers a single product and it is not a standalone medical aid product. Admed is a kind of medical insurance policy that covers for shortfalls in your medical scheme. What you will be billed when you’re treated by a healthcare practitioner will at times be more than what your medical scheme will pay out. This is especially the case when you are treated by a specialist or undergo certain kinds of specialised procedures.
Guardrisk offers Admed not only to individuals but also to small and medium-sized businesses. They also offer this form of medical gap cover to larger corporations as well as government agencies.
Workplace
If you’re a business owner, you may have provided your employees with medical insurance. But what happens if they get treatment beyond the limit of their cover? This is where you would make a claim from your Assistere policy from Guardrisk gap cover
If you have provided a workplace accident cover for your staff and the unthinkable happens, your employee will be compensated for any treatment and loss of income they incur. But what if there is a shortfall between your employee’s treatment and compensation needs? Once again, you would simply make a claim on your Assistere policy. No need to divert your revenues in order to fill the gap.
The beauty with Guardrisk’s Assistere cover is that it can be adapted to suit your organization or employee’s needs. You can have the cover cater specifically for ARV treatment or extended stays in hospital.
Use the form on the page to get a gap cover quote