If you do not have medical insurance and you lose an arm or leg, and are taken to a private hospital in this country, it would cost you the other arm and leg just to receive treatment. Also if you go to a public health care facility for treatment, these facilities are certainly not preferable at best.
Not having medical insurance means you receive sub par medical treatment and services. Public facilities have more patients to deal with, and you have to deal with long waits, overcrowding and medical staff that are not able to deal with real emergencies due to overcrowding of patients and a shortage of staff.
When you have medical insurance they will have your medical records available, therefore which ever hospital or doctor you go to, it is easy to be helped. There are a lot of comprehensive covers available which pay for accidents, emergencies, surgeries and other medical procedures. This means that you will not have to pay for this out of your savings. By having health cover you can afford to go for regular checkups and screening. This helps to detect illness and in turn can save your life, or the life of a family member.
Having medical insurance and not needing it, is far better than needing it and not having it. We all think that we are bulletproof and will live forever, but accidents happen. You don’t need to risk your or your family’s life by not being given the best medical treatment. Medical aids pay out according to the Medical Scheme Rate and this usually differs for each aid. A medical aid shortfall is when your medical aid does not cover your hospital bills in full. Specialists often charge more than the set rate. It is said that some specialists can charge up to 600% of the set rate. Even though the medical aid pays 100% of your in-hospital specialist bill, it still leaves you to pay the remaining 500%. On average medical aids only pay one third of specialist bills.
Customers with a medical aid can take out Gap Cover to compensate for this shortfall. If gap cover did not exist, those who end up in hospital would have to sell their cars or get themselves into debt in order to pay for the shortfall. People think that if they have a medical aid that they are covered financially, but this is not always the case and an accident can leave them with thousands of rands of debt.