Introduced in the 1940s, Chappies bubblegum is known and loved for its iconic wrappers containing ‘Did you know?’ facts. Each generation has their favourite childhood Chappies memories, and these colourful little square bubblegums have become nostalgically and proudly part of ‘South Africanah.’ But what does bubblegum have to do with South African Gap Cover?
Depending on your age, you might remember Chappies costing just 1c or 2c each. But just as inflation has resulted in Chappies now costing you around 30c a pop, Medical Aid rates, too, have dramatically increased over the years.
That is why considering medical Gap Cover has become an important part of your personal and family financial planning and budgeting.
Here are a few ‘Did you know?’ facts about South African Gap Cover.
Fact #1
Did you know? Medical Aid cover does not align with the rate of medical professional and specialist consultations, hospital procedures and medication costs?
This means that there is often a shortfall between what Medical Aid providers will pay and the actual final cost of your bill. The benefit of South African Gap Cover is that it is designed to cover the difference, or ‘gap.’ Some Gap Cover policies will even pay out when your yearly medical savings have been exhausted.
Fact #2
Did you know? To qualify for any Medical Gap Cover policy, you have to currently be a member of a South African Medical Aid scheme?
Fact #3
Did you know? The difference between actual costs charged by doctors or hospitals and Medical Aid rates could be up to 5x more? Gap Cover is the solution to covering this shortfall so that is doesn’t need to come out of your own pocket.
Fact #4
Did you know? Gap Cover pays directly to you? While Medical Aid providers will pay medical costs directly to a medical practitioner or hospital, Gap Cover pays their agreed percentage or portion to you, the policyholder, making you responsible to then settle the shortfall directly.
Fact #5
Did you know? Medical Aid and Gap Cover are two completely separate services? You have the freedom to change one policy without it affecting the other.
Fact #6
Did you know? It is much cheaper to add a Gap Cover policy than it is to upgrade your Medical Aid coverage?
Here is a final ‘Did you know?’ fun fact:
Bubblegum Day is celebrated on the first Friday in February to raise awareness for education and philanthropy.
To make sure you don’t find yourself in a sticky situation, visit Day1 Health to consider our Gap Wise Gap Cover option, or contact a consultant for more information.
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