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MyMoney Online

Cheap 'gap cover' fixes hellishly expensive, inadequate medical aid

10 December 2020 2:56 PM

Pippa Hudson asks Certified Financial Planner Alec Riddle to explain the ins and outs of Gap Cover.

You may want to sit down for this… your hellishly expensive medical aid does not fully cover you when you are hospitalised.

© rawpixel/123rf.com

Your medical aid probably covers 100% of the Medical Scheme Tariff (MST) or, if you are lucky, a bit more.

Problem is, 100% falls way short of the 500% that specialists typically charge.

For a tiny fraction of your monthly medical scheme premium, Gap Cover will ensure that you are not wiped out financially, despite being covered, if you land up in a hospital.


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Pippa Hudson asked Certified Financial Planner Alec Riddle (Private Wealth Management) to discuss gap cover in detail, answering questions such as:

  • What is gap cover?

  • What expenses is it intended for, and what will it not cover?

  • Any exclusions?

  • Who should take it out?

  • How much can you expect to pay?

  • Etc.

Listen to the interview in the audio below.


10 December 2020 2:56 PM

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