Submitted by: Santiago Demery
There comes a period in most people’s lives when they are forced to spend a few days in hospital. It could be as a result of an accident or perhaps an illness or even childbirth. If you spend more than a few days in hospital it can get really expensive really fast, particularly if you need some specialized care of some type. There is a way to actually get some cash out of the stay in hospital though without actually suing them for negligence or something like that.
What you need is really a hospital cash back plan. This is a look at how it works.
The hospital cash back plan is an insurance policy which protects you against needing to find the cash to cover excessively high health care fees if you’re booked in to hospital for an extended time period. As with all insurance plans you will need to take out an insurance policy with an insurance company and pay a premium every month. If you’re booked into a hospital for more than a couple of days, the exact number of days required for the policy to kick in will be detailed within the policy documents, then the hospital cash back policy will pay out a predetermined amount of cash to you to use as you see fit.
This looks like an excellent idea and it is. The only real unfortunate thing is that you will have to end up in hospital for a few days in order to make use of this insurance policy. The money will definitely come in handy though. It is common for medical aid plans to only cover medical expenses to a certain point after this point is reached the additional costs are your own issue. The hospital cash back plan is then there to take up the slack as well as enable you to cover these additional expenses. If your medical aid is covering every thing you’ll be able to make use of the money however you like. It might take the place of the income that you’re forfeiting when you are incapacitated or it may be used to pay for your children’s school fees or some other living expenses you need to cover. It really is up to you.
As you can tell, there are plenty of benefits to landing up within hospital for several days if you have this kind of insurance policy in position. Of course, you do have to go through the stress of a serious accident or perhaps a severe illness or something along those lines to make use of this kind of insurance plan which isn’t so much fun. If you are not sure that you r medical aid is going to cover your own hospital expenses if you’re booked in for an extended stay then this is definitely something you have to take a glance at before it is too late and you need the cover but don’t have it. Cover all of your bases and get as much insurance as you can afford!
For more information about hospital plans go to http://www.hospitalcashback.co.za
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