Let’s face it, medical treatment in South Africa is not cheap. The only way many South Africans can access healthcare is through medical aid schemes. But medical aid schemes will only cover costs up to a prescribed limit. This limit is the percentage of the annual medical aid rate recommended by the Council of Medical Schemes.
In a perfect world, what the medical practitioners charge for their services would be equivalent to the medical aid rate. But the reality is that your treatment bill will be much higher than the Council’s rate. Your medical scheme provider will ordinarily peg their rate at some percentage above the Council’s rate but chances are it still won’t be enough to clear your hospital bills. This leaves a shortfall which you have to dig into your savings to cover.
Some medical aid schemes require members and beneficiaries to produce a co-payment whenever they seek treatment from some healthcare providers. Co-payment may also be a requirement by your scheme for you to access certain kinds of treatment.
The last thing you need when you or one of your dependents is faced with a medical emergency is to start raising funds to cover a shortfall. This is where gap cover comes in. Note that medical gap cover is not a medical scheme in and of itself. You must already be a member of a medical aid scheme to be able to apply for iWyze Gap Cover.
About iWyze Gap Cover
Underwritten by Old Mutual Life Assurance Company, the iWyze Gap Coveris a comprehensively packaged product that covers all the bases your medical scheme may not. Whether the deficit is as a result of you exhausting your medical scheme limit, a co-payment requirement or deductibles, you will be fully covered. iWyze Gap Cover will cover you for up to five times the rate set by the Council as long as you seek treatment from a prescribed list of providers. The cover will be available to you as the principle member as well as to your spouse and kids, if you have a family.
What Does iWyze Gap Cover Cover?
Well, it will essentially cover what your medical scheme cover will cover you for. Expenses for treatment of injuries caused by incidents or accidents as well as illnesses, including some terminal ailments, are covered by the iWyze Gap Cover. Among the treatments for long-term ailments covered by this kind of cover is dialysis for patients who have suffered renal failure. Expenses beyond your medical cover for cancer treatment- both radiotherapy and chemotherapy- will be taken care of by this gap cover.
iWyze Gap Cover has both in-patient and out-of-hospital benefits. This includes surgical procedures and emergency medical treatment required for trauma suffered during an accident.
If you feel your Gap Cover may not suffice for your medical treatment, you can apply for the Benefits Extender. Is there a limit beyond which the iWyze Gap Cover Benefit Extender won’t cover you? Yes, there is a compensation limit for the policy itself and the policy extender but you will have to incur extraordinarily high treatment expenses to attain it.
If you like iWyze gap cover get a quote now!