There are two ways in which taking out medical gap cover allows you to save on medical expenses overall.
Save by Eliminating Medical Scheme Co-Payments
This is the primary way in which you cut down on healthcare costs.The purpose of medical gap cover in South Africa is to insure against any and all co-payments. This means the gap cover company where you have a gap policy will bail you out in cash when you receive a high co-payment bill.
Co-payments occur when your medical aid does not see its way clear to paying the entire specialist, hospital or medication bill – and that is because they work according to their own internal tariff list. They could not care less how much your healthcare providers charge.
For this reason gap cover for medical aid was brought into being – to avoid patients being stuck with medical bills in the tens of thousands of rand. The simple way for medical aid members to prevent co-payments for their own pocketsis to take out a gap cover policy from a short-term insurer. (On this page you can get a quote from a leading provider, ensuring that you conserve your savings.)
You have to hand it to the several short-term companies that offer this innovative product, which is uniquely South Africa, just as medical schemes are. Some of the leading firms offering gap insurance are Zestlife, Western, Turnberry, Sirago, Strarum and Elixi.
Another Way to Save Using Gap Cover
Let’s say one of the people on your medical aid develops a disease or has an accident so that you are making high claims against your medical aid. Perhaps you are thinking of moving your medical plan to a higher option with a higher monthly premium, just so you know that the member in question doesn’t drain your medical scheme funds and keeps down co-payments.
Well, that might not be necessary. Simply get a quote for gap cover (you can do that by using the gap cover form on this page) to find out what the monthly premium will be.
Let’s say, for argument’s sake, that the monthly premium as it relates to your particular medical aid option is R500 per month. Compare that with the extra premium you would have to pay if you stopped your current plan and escalated it to the next level.
The chances are that you would be paying a lot more than R500 a month more, without having averted the possibility of co-payments.
So gap cover is a way to trump your medical aid AND save at the same time.
Act now! Get a quote on this page