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Your expensive medical aid is woefully inadequate, but cheap gap cover helps

21 January 2020 1:16 PM
Tags:
Insurance
Medical aid
Personal finance
Medical insurance
hospitalisation
Abongile Nzelenzele
Medical aid schemes
gap cover
Medical Scheme Tariff
MST
Tony Singleton
Turnberry Management Risk Solutions
Despite the huge expense, few medical aids cover members in full when they're hospitalised, leaving them with massive shortfalls.

Your medical aid probably says it covers 100% of the Medical Scheme Tariff (MST).

It sounds great, but it’s not.

The MST almost always falls far short of what doctors and specialists typically charge.

In other words, despite the huge expense, you’re not fully covered when you’re hospitalised!

Doctor (pixabay.com, 2019)

For a fraction of the cost of your medical aid, “Gap Cover” will ensure you’re not ruined financially.

Most gap cover policies cover up to 400% or 500% of the MST.

Abongile Nzelenzele asked Tony Singleton, CEO of Turnberry Management Risk Solutions, to explain the ins and outs of gap cover.

Listen to the interview in the audio below.

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21 January 2020 1:16 PM
Tags:
Insurance
Medical aid
Personal finance
Medical insurance
hospitalisation
Abongile Nzelenzele
Medical aid schemes
gap cover
Medical Scheme Tariff
MST
Tony Singleton
Turnberry Management Risk Solutions

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