Has anyone done the BIG snip?

[Beard]

if you have a med aid / hospital plan, take out a gap cover, wait the couple of months for the thing to kick in and then get it done.

Is gap cover really worth it though? I have had medical aid which I pay for entirely (no benefits or company contribution) and have been covered since I started working about 15 years ago. I have only needed medical aid three times in the past... for my kids birth and then grommets for them a few years later. I sort of look at medical aid as a grudge necessity because sometimes the **** hits the fan. Gap cover just seems like another insurance and at the end of the day just the insurance companies that build fancy new campuses.(im looking at you discovery) Surely if I was I responsible adult (I fail miserably) id be better off taking the gap cover fee each month and investing it?  

[Captain Fastbastard Mayhem]

Is gap cover really worth it though? I have had medical aid which I pay for entirely (no benefits or company contribution) and have been covered since I started working about 15 years ago. I have only needed medical aid three times in the past... for my kids birth and then grommets for them a few years later. I sort of look at medical aid as a grudge necessity because sometimes the **** hits the fan. Gap cover just seems like another insurance and at the end of the day just the insurance companies that build fancy new campuses.(im looking at you discovery) Surely if I was I responsible adult (I fail miserably) id be better off taking the gap cover fee each month and investing it?  

YES. It is DEFINITELY worth it. The extra cost is negligible compared to the benefit you get. 

 

BUT: Not all gap covers are equal. The disco one is horrendous, as is the Momentum one. Some don't cover for PMB's, some do. Some cover deductibles and out-of-network hospital visits, some don't. 

Edited February 18, 2019 by Captain Fatbastard Mayhem

[Stretch]

YES. It is DEFINITELY worth it. The extra cost is negligible compared to the benefit you get.

 

BUT: Not all gap covers are equal. The disco one is horrendous, as is the Momentum one. Some don't cover for PMB's, some do. Some cover deductibles and out-of-network hospital visits, some don't.

Yup.... With the dad's last stint in hospital. 3 days total and 1 operation. Surgeon and anesthesiologist were about 15k over the prescribed rates... And my parents are on a good discovery package.

[Captain Fastbastard Mayhem]

Yup.... With the dad's last stint in hospital. 3 days total and 1 operation. Surgeon and anesthesiologist were about 15k over the prescribed rates... And my parents are on a good discovery package.

yeah, sometimes (depending on medical history and needs etc) it's advisable to actually downgrade once your gap cover is in force. No need to have access to the 27 / 32 / 459 additional chronic conditions that the higher plans offer if you don't have those conditions, especially at the higher cost that they come with, and how with a good gap product can mirror & actually better the top-tier plans anyway. 

[The Ouzo]

Is gap cover really worth it though? I have had medical aid which I pay for entirely (no benefits or company contribution) and have been covered since I started working about 15 years ago. I have only needed medical aid three times in the past... for my kids birth and then grommets for them a few years later. I sort of look at medical aid as a grudge necessity because sometimes the **** hits the fan. Gap cover just seems like another insurance and at the end of the day just the insurance companies that build fancy new campuses.(im looking at you discovery) Surely if I was I responsible adult (I fail miserably) id be better off taking the gap cover fee each month and investing it?  

as has been mentioned above, one stint in hospital and often it covers the years of payments where you've not used it.

 

Although they have become pricey, when I took my first one out it was R99 a month, its now closer to R500 p/m.

I still would not go without one though.

[Captain Fastbastard Mayhem]

as has been mentioned above, one stint in hospital and often it covers the years of payments where you've not used it.

 

Although they have become pricey, when I took my first one out it was R99 a month, its now closer to R500 p/m.

I still would not go without one though.

JEEPERS, dude, what option are you on!? I only see those premiums for those over 65 (and in some cases 55) 

[HDW]

Err'day. Doc reckons between 50 & 100 spoegs before the storage is emptied. 

 

I wanted the period of risky sexy time reduced as much as possible, and fokkin thankful I did. 

 

I am married, so that is about 5 to 10 years worth of spoegs.

[Captain Fastbastard Mayhem]

I am married, so that is about 5 to 10 years worth of spoegs.

https://www.indy100.com/article/masturbation-work-office-good-health-science-report-month-7525081

[Odinson]

I am married, so that is about 5 to 10 years worth of spoegs.

 

Or you can run through those numbers when the wife is out of town for the weekend. 

[Stretch]

I am married, so that is about 5 to 10 years worth of spoegs.

You are married... That's a couple of months worth of self induced spoegs

[Stretch]

JEEPERS, dude, what option are you on!? I only see those premiums for those over 65 (and in some cases 55)

What I found bizarre was that after my dad died my mom's premium went down from 550 for the two of them to 500 just for her... Same with the discovery premiums. Guess the primary member is heavily weighted

[Captain Fastbastard Mayhem]

What I found bizarre was that after my dad died my mom's premium went down from 550 for the two of them to 500 just for her... Same with the discovery premiums. Guess the primary member is heavily weighted

Primary members are always more expensive. Well, almost always. On some of the lower end plans the Principal and spouse are the same cost. 

 

Gap, there's a "family rate" and a "single rate" - family is only just a little more $$ than single. 

[Beard]

YES. It is DEFINITELY worth it. The extra cost is negligible compared to the benefit you get.

 

BUT: Not all gap covers are equal. The disco one is horrendous, as is the Momentum one. Some don't cover for PMB's, some do. Some cover deductibles and out-of-network hospital visits, some don't.

Do you have any recommendations for a decent independent one? From your guys comments above it sounds like I should seriously consider one!

 

 

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[The Ouzo]

JEEPERS, dude, what option are you on!? I only see those premiums for those over 65 (and in some cases 55)

Zest life gap cover family rate.

But others I’ve priced last year were similar

 

 

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[Captain Fastbastard Mayhem]

Zest life gap cover family rate.

But others I’ve priced last year were similar

 

 

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Sorry, I've just looked again and it's 458. I read your post as being very close to 500. Stratum (the other one I use) is a little bit less than that, but not enough to warrant a change. Both Stratum & Zest are exceptionally good. 

[Captain Fastbastard Mayhem]

Do you have any recommendations for a decent independent one? From your guys comments above it sounds like I should seriously consider one!

 

 

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If you want to chat, we can. As with all things financial advice, the answer is "it depends"

 

Which gap are you on at the moment?