Medical Aid and Gap Cover

Powerbrokers is an Authorised Financial Services Provider License Number 9635

Medical Aid

Medical aid in South Africa provides financial cover for medical expenses for members who pay a monthly contribution for this cover.

Medical aid covers members’ healthcare costs such as hospitalisation, treatments and medicine. These costs are covered according to the rules of the medical scheme and the member’s medical aid plan type. These rules ensure that members are fairly cared for. All medical schemes in South Africa are governed in accordance with the Medical Schemes Act 131 of 1998, and are regulated by the Council of Medical Schemes. At Power Brokers, we are networked to offer clients medical aid options from Discovery Health, Bonitas, Momentum Health and Profmed.

Gap Cover

Gap cover is a type of short-term insurance created to offer additional financial security to people who already have medical aid. It pays the difference between the actual rates charged by healthcare experts and your medical scheme’s tariff (MST). In South Africa, medical aid schemes now pay healthcare providers 100%, 200%, or 300% of the plan rate. However, professional healthcare practitioners may bill up to five times the standard rate. Taking out gap cover protects yourself and your family against this financial contrast, potentially avoiding significant out-of-pocket healthcare expenses.