5 Best Gap Cover Options for Under R300
The 5 Best Gap Cover Options for Under R300 in South Africa revealed.
We tested them side by side and verified their gap cover options.
This guide is the best gap cover option under R300 in South Africa.
In this in-depth guide you’ll learn:
- What is a Gap Cover?
- Should you have a gap cover if you already have medical aid?
- Is gap cover affordable in South Africa?
- What exactly does gap cover protection cover?
- Should you have a gap cover when you have a hospital plan?
- What benefits do you get from having a gap cover?
So if you’re ready to go “all in” with the best gap cover options for under R300 in South Africa, this guide is for you.
Let’s dive right in…
Best Gap Cover Options for Under R300 (2024)
| 🩺 Medical Aid | ✔️ Offers Gap Cover Options? | ⚕️ Premiums Per Month | 👉 Sign Up |
| 1. Sanlam Comprehensive Gap Cover | Yes | From R246 | 👉 Apply Now |
| 2. Old Mutual Gap Cover | Yes | From R225 | 👉 Apply Now |
| 3. Liberty Essential Gap Cover | Yes | From R225 | 👉 Apply Now |
| 4. NetCarePlus Gap Cover | Yes | From R285 | 👉 Apply Now |
| 5. Turnberry Gap Cover | Yes | From R267 | 👉 Apply Now |
5 Best Gap Cover Options for Under R300 Summary
- Sanlam Comprehensive Gap Cover – Overall, Best Gap Cover Options for Under R300 in South Africa
- Old Mutual Gap Cover – No Medical Tests When Signing Up for The Cover
- Liberty Essential Gap Cover – Essential Accidental Fees Are Fully Covered
- NetCarePlus Gap Cover – 500% More Cover For Specialist
- Turnberry Gap Cover – Affordable Options for Under 65 Year Olds
Introduction to Gap Cover Options for Under R300
Even with some prescribed minimum benefits (PMBs) medical aid plans in South Africa are required to cover by law, it is likely that these PMBs will not pay for the total cost of medical treatment you may need, so members are often left without sufficient coverage.
Even with the coverage provided by medical aid, the entire cost of medical treatment in South Africa becomes unaffordable. Gap Cover is a supplemental insurance policy that can help bridge the gap between what medical aid covers and what you really spend out of money for medical costs.
Gap Cover may help bridge the gap between what medical aid covers and what you actually spend out of pocket for medical expenditures.
What is gap cover?
Gap Cover is sometimes referred to as bridge insurance in some circles.
Gap cover insurance is designed to compensate policyholders for the financial shortfall that results when one considers the amount of money that is covered by a medical aid plan and the amount of money that is charged by healthcare providers.
A breakdown of how the gap cover system works shows that the Gap Cover Insurance is intended to fill this coverage gap by providing essential additional financial protection against medical costs that are not covered by the Medical Aid plan.
Private insurance companies are the most prevalent suppliers of gap cover insurance.
The Advantages of Having Gap Coverage
Some of the advantages that come along with having Gap Cover are as follows:
- Can pay for deductibles, co-payments, and other up-front costs for some medical treatments that medical assistance do not cover completely.
- Additional payments are provided in the event of cancer treatments, accidental death, or permanent incapacity.
- Provides coverage for certain casualty costs that are not normally included in medical aid packages.
- Provides peace of mind by protecting against unanticipated medical costs and paying for any gaps in medical aid coverage
- Coverage can be topped up with gap cover in such a way that it acts as a bridge in the event that an individual downgrades their medical aid choice to a plan that is more affordably priced.
- Some treatments and procedures are not covered by medical aid programmes, and members are responsible for paying their own share of certain co-payments and deductibles. Between what is covered by the medical aid programme and what the healthcare practitioner bills for their services, this might result in large out-of-pocket payments for the patient.
- Void protection kicks in at this point in the process. Gap protection is insurance that pays the difference between what medical aid systems cover and what healthcare providers charge for in-hospital treatments and procedures.
- In addition, gap cover may be used to pay for co-payments, deductibles, and other out-of-pocket expenses that are not covered by the medical aid programme.
READ more about the best Hospital Plans under R1500 per month
Comparing Different Gap Coverage Plans
It is crucial to compare gap cover providers in South Africa when looking for medical gap cover. This will allow you to verify that you are receiving the greatest coverage available at a price that is within your budget.
Here are some reasons why you should compare gap cover providers, as well as several ways to do so:
- There is a wide variety of gap cover providers, each of which offers its own unique set of advantages and coverage.
- By shopping around, you might choose a carrier that offers the coverage and benefits that are appropriate for your needs.
- The prices for gap insurance might vary substantially depending on the provider you choose and the level of coverage that you purchase.
- If you look about, you should be able to discover a plan that satisfies your requirements at a cost that is within your budgetary comfort zone.
- Many gap cover policies require their customers to wait for a certain amount of time before they begin providing coverage.
- You might choose a company that has a shorter waiting period or offers instant coverage by comparing the various suppliers.
- There is a possibility that the gap cover you obtain will be contingent on the network of healthcare professionals with which some gap cover providers collaborate.
- By evaluating several providers, you should be able to select one that has a network that include your chosen healthcare providers.
When comparing gap insurance providers, the first step is to conduct research on the various providers and the services that they offer.
Check out their waiting times, prices, and coverage and perks, as well as their provider network. When you have narrowed down your list of possible providers, it is a good idea to acquire quotations from each one so that you can compare the prices they charge and the locations that they service.
You may also learn about the experiences that other people have had with the service provider by reading reviews that have been posted by current clients as well as clients who have used the provider in the past.
When evaluating different alternatives for medical aid gap cover, it is essential to take into account the quality of customer care provided by each supplier. Look for organisations who have a solid reputation for providing excellent customer service, have personnel that is courteous, and have rapid response times.
Discover: Gap cover under R500 per month
Which Gap Cover Plan Is Best for You
It might be challenging to select the appropriate gap cover plan because there are many different kinds of plans available on the market, each with its own set of characteristics and advantages. In order to make a choice that is based on accurate information, it is vital to first have an understanding of the different gap cover plan possibilities.
Your medical aid plan may not cover all of your in-hospital medical charges, but you can purchase a plan called Basic Gap Cover that will cover some of those costs. The premiums for basic gap cover policies are often lower than those for more comprehensive plans, but these plans offer a smaller number of benefits.
Comprehensive Gap Cover is a form of plan that offers more broad coverage for in-hospital medical bills, in addition to some outpatient charges and co-payments. This type of plan may also cover certain outpatient expenses. The premiums for comprehensive gap cover policies are often more than those for basic plans; however, comprehensive gap cover plans also provide more complete gap coverage.
Top-up Gap protection is a sort of plan that is meant to augment the protection that is given by your medical aid programme, particularly for operations or treatments that are costly. Top-up gap cover policies are beneficial for people who already have a comprehensive medical aid plan but want additional protection against excessive medical bills.
A disease-specific gap cover is a type of plan that offers coverage for certain medical illnesses or treatments, such as therapy for cancer or long-term medication. People who have a greater chance of acquiring certain medical diseases or who require continuing treatment for a particular ailment may benefit from disease-specific gap cover plans.
1. Sanlam Comprehensive Gap Cover
For a low monthly premium of R246 for individuals and R429 for families, the Sanlam gap cover ensures that its members are not left with large excess amounts to settle. Some of its benefits include receiving cash for every day spent in the hospital due to an accident or premature birth.
2. Old Mutual Gap Cover
R225 per month gets you the Old Mutual gap cover even if you and your spouse are on different medical aid schemes. Medical tests for this cover are not compulsory and its benefits package includes shortfall payments of up to 100% on maxillofacial or spinal surgery.
READ more about our list of the affordable medical aids under R1500
3. Liberty Essential Gap Cover
Liberty remains a trusted brand among South Africans, which provides various health and financial products in South Africa at affordable rates. Their essential gap cover provides R173,000 in shortfall expenses for covered members and an addition of accidental injury fees and out-of-hospital fees for specialists and doctors. The Optimal plan costs R225 per month per individual.
4. NetCarePlus Gap Cover
The NetCarePlus gap cover gives 500% more cover for specialists, both in and out of the hospital, you’ll be covered for any approved admissions in a day clinic or hospital, plus against shortfalls for specialist consultations, treatment and procedures when you’re not admitted to hospital.
The premiums start from R285 per month per individual.
5. Turnberry Gap Cover
The Turnberry gap cover protects clients and their families from bearing hefty medical expenses uncovered by their medical aid. R525 per month covers a family of members under the age of 65 but you can get the Launch option for R267 per month.
FAQs
Is Gap Cover worth the money you pay for it?
Yes, it is worth the money. If you have to have an expensive medical procedure or illness that isn’t covered in full by your medical aid, gap cover can make up the shortfall.
What should I look for when searching for gap cover?
Look for plans that provide the best benefits, such as cover for co-payments, excess payments, and out-of-hospital expenses.
Does gap cover only provide coverage for doctors’ visits?
No, Gap cover covers shortfalls where doctors charge above medical aid rate, as well as hospital benefits.
Who offers the best gap cover in South Africa?
The best gap cover will depend on what your needs are and what you can afford.
Is shortfall insurance and gap cover the same thing?
Yes, shortfall insurance and gap cover is the same, and covers additional medical costs, or the difference between the fees charged by specialists and the funds provided by the medical aid.
