Gap cover is a form of insurance that covers the gap between the amount your medical aid covers and the actual cost of healthcare services. With the rising costs of healthcare in South Africa, gap cover has become increasingly popular among medical aid members. But with so many gap cover options available, it can be difficult to know which one is the best fit for you. In this article, we’ll answer questions to help you choose the best gap cover in South Africa.
What is gap cover?
Gap cover is a type of insurance that covers the difference between what your medical aid covers and the actual cost of medical procedures. This can include in-hospital procedures, such as surgeries or scans, as well as out-of-hospital procedures, such as consultations with specialists.
Why do I need gap cover?
Medical aid plans in South Africa often have limits on the amount they will cover for certain procedures. This can result in you having to pay out-of-pocket expenses that can be quite substantial. Gap cover can help to reduce the financial burden of these costs, ensuring that you have access to the healthcare you need.
What should I look for in a gap cover policy?
When choosing a gap cover policy, you should consider the policy limits, waiting periods, and exclusions. You should also look for a policy that offers comprehensive coverage, including in-hospital and out-of-hospital procedures.
What are some of the best gap cover policies in South Africa?
There are several gap cover policies available in South Africa, including Zestlife, Stratum Benefits, and Ambledown Financial Services. It’s important to compare the policies carefully to find the best one for your needs.
How much does gap cover cost?
The cost of gap cover varies depending on the level of coverage you require. Generally, the more comprehensive the policy, the higher the premium will be.
Can I get gap cover if I don’t have medical aid?
No, gap cover is designed to supplement your existing medical aid plan. You must have a medical aid plan in place before you can take out a gap cover policy.
How do I choose the best gap cover policy?
When choosing a gap cover policy, it’s important to compare the policies carefully and to choose one that meets your specific needs. Look for a policy that offers comprehensive coverage, has reasonable waiting periods and exclusions, and fits within your budget.
In conclusion, gap cover is an important type of insurance that can help to reduce the financial burden of medical expenses in South Africa. When choosing a gap cover policy, it’s important to compare policies carefully and to choose one that meets your specific needs. By doing so, you can ensure that you have access to the healthcare you need without incurring significant out-of-pocket expenses.
