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Getting to grips with medical aid gap cover and why you may be falling short

6 August 2019 11:34 AM
Tags:
Medical aid
gap cover

Turnberry Management Risk Solutions CEO Tony Singleton unpacks South African health insurance benefits.

Over the past few years, medical inflation has outstripped the inflation of medical aid premiums, resulting in year-on-year increases in medical expenses, shortfalls, and copayments.

In some cases, people try to curb medical expense shortfalls by getting gap cover, however, that cover doesn't always cover medical costs.

RELATED: Medical aid schemes to be probed for racial profiling, intimidation

How much has the gap between medical expenses and medical payout increased?

Refilwe Moloto chats to Turnberry Management Risk Solutions CEO Tony Singleton to weigh in on the matter.

The gap cover was primarily designed to cover specialists fees and hospital procedures. The gap cover is added on top of medical aid. So, your medical aid typically will have a list of benefits and they will pay you out depending on the option of those stated benefits.

Tony Singleton, CEO - Turnberry Management Risk Solutions

He says in most cases medical aids only cover a tenth of what certain specialists are charging in South Africa.

It is important that one understands the benefits of their medical aid prior to getting certain surgeries.

Tony Singleton, CEO - Turnberry Management Risk Solutions

Listen below to the full interview:


This article first appeared on CapeTalk : Getting to grips with medical aid gap cover and why you may be falling short


6 August 2019 11:34 AM
Tags:
Medical aid
gap cover

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