We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

Many gap cover policyholders are facing steep premium increases, despite new limits on payouts you can receive when your medical scheme benefits fail to match what doctors and other healthcare providers charge. Increases of between 9% and 100% follow two years of high claims that gap cover providers attribute to increased awareness, particularly among doctors, that medical scheme members have this cover. Many older policyholders, however, may face harsher increases as insurers implement new terms following the promulgation of demarcation regulations under the long- and short-term insurance acts. These regulations took effect on April 1 and allow for late-joiner penalties for those who take out gap cover late in life. New gap cover policies had to comply with the demarcation regulations from April, but existing policies must comply when cover is renewed. In most cases, this is from January. The regulations, aimed at ensuring that gap cover policies do not undermine cross-subsidisatio...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now

Would you like to comment on this article?
Register (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.

Commenting is subject to our house rules.