What is HospiCash 100?
The HospiCash 100 benefit provides you with an additional cash pay-out while hospitalised. This is specifically for those unforeseen non-medical costs (e.g. lost wages etc.). HospiCash can be taken as a top-up benefit to your existing medical aid fund or medical insurance cover.
The benefit pays out to the policyholder if the principal insured or registered beneficiary is hospitalised for three or more successive days. Each separate hospital admission is classified as a separate event. A fixed amount is payable to the policyholder after the third full day of hospitalisation calculated from the first day of admission in a private hospital. The policy benefits all members of the medical aid. However, it is only paid out in full to the principal member. There is a maximum of N$ 30,000 per event.
Other benefits of this policy:
Rescue Me Standard Plan
If you are involved in a motor vehicle accident, this provides cover for road ambulance evacuation services within Namibia. The benefit is unlimited.
There is a funeral plan built-in that pays out N$10 000 depending on the member’s age.
The monthly premiums are precisely calculated to cover your exact needs. For a family of four, it could look like this. Please note that there is a maximum of six people allowed on a policy. E.g. The policyholder and five dependents:
Principal member: 35 years old N$100
First dependent: 30 years old N$50
Other dependent: 5 years old N$25
Other dependent: 3 years old N$25
Total of: N$200 per month
HospiCash 100 in action:
Elaine is a mother of two that lives in Windhoek and is married to Charles. Charles is a pharmaceutical rep and is constantly on the road to have medical aid in place for emergencies. They also have a HospiCash 100 policy and are very grateful for it!
Elaine lost her job due to the COVID-19 pandemic. She was retrenched and received a package, but the money quickly disappeared, and she needed to find a new job. Luckily, she secured a position as a freelance proofreader and editor. As a result, she has a steady stream of income but, if necessary, can take time off when needed. But basically, no work = no money. This ability to take time off as needed is very necessary as she has two small children.
Unfortunately, Elaine had been feeling very out of sorts for a few days. She finally went to the emergency room after experiencing severe abdominal pain. She was diagnosed as having appendicitis. She had to have an emergency operation and therefore could not have a ‘key-hole’ surgery. The recovery time for a traditional appendectomy is much longer. Elaine also ended up getting a mild infection as she was in the hospital for a total of 10 days.
Luckily Elaine had prepared for the unexpected and has a HospiCash 100 policy. It started paying out from the third day of her hospital stay, and altogether it was N$6 000. It was paid out within two weeks of her first claim. It enabled her to organise day-care for her two children at very short notice and even make up for some of her lost wages and then make up the money at the end of the month with the pay-out. HospiCash was her saving grace. She has since made a full recovery and has taken up her place as Grammar Nazi once more!
HospiCash 100 Terms and Conditions
- HospiCash is only applicable to admissions in a private hospital.
- A six-month waiting period will apply for planned hospital admissions.
- A twelve-month waiting period will apply for maternity and confinement (including neonatal care)
- Funeral standard terms and conditions will apply.
- PSEMAS members only