October marks Breast Cancer Awareness Month, a time to reflect on ways to protect our health, support those affected, and empower ourselves with knowledge. This knowledge should cover not only breast cancer itself but also the financial risks associated with the disease.
Breast Cancer in South Africa: A Quick Overview
Breast cancer is the most diagnosed cancer among women in South Africa. Medical technology and early detection methods have improved significantly, but many people remain concerned about financial preparedness. According to the National Cancer Registry, one in twenty-seven South African women faces the risk of being diagnosed with breast cancer during her lifetime.
Early detection leads to better outcomes, yet treatment for breast cancer can last for months or even years, involving surgery, chemotherapy, radiation, and ongoing care. The costs of treatment can range from R100 000 to over R300 000, depending on the type and stage of cancer.
Risk Coverage: More Than Just Medical Aid
Medical aid schemes in South Africa often serve as the first line of defence. However, it is a common misconception that medical aid alone will cover all expenses. Evaluating your coverage is essential.
1. Understand What Your Medical Aid Covers
Comprehensive plans typically cover hospitalisation, surgery, chemotherapy, and radiotherapy. However, it’s important to ask:
- Are all treatments fully paid, or are there co-payments?
- Are oncology benefits capped each year?
- Is your plan part of a Designated Service Provider (DSP) network, or will you face higher out-of-pocket costs for going outside the network?
- Does your plan include biological or targeted therapies, which are usually more expensive?
Request a summary of oncology benefits from your medical scheme and review it with a broker or financial planner for clarity.
2. Do You Have a Gap Cover Policy?
Gap Cover is a short-term insurance product designed to cover the difference between what your medical aid pays and what specialists charge. Many cancer-related treatments, especially surgeries and in-hospital consultations, can exceed medical aid rates by 200–500%. Although Gap Cover usually costs less than R500 per month, it can save tens of thousands during treatment.
3. Do You Have Dread Disease (Critical Illness) Cover?
Dread Disease Cover provides a lump-sum payout upon diagnosis of a serious illness like cancer. Its benefits include:
- Payout is independent of medical aid cover.
- Funds can be used for medical expenses, lost income, travel, home care, and more.
- Some policies cover early-stage cancers, including Stage 0 and DCIS, while others only pay for later stages.
Ensure your policy covers breast cancer from early stages, not only “life-threatening” stages.
4. Check the Waiting Periods & Exclusions
Most products, including medical aid, dread disease, and gap cover, have waiting periods—typically three to twelve months for cancer. Some policies exclude coverage if you have a family history or a previous diagnosis. Review your policy documents or consult a licensed financial advisor to clarify any exclusions or waiting periods.
5. Don’t Forget the Hidden Costs
Even with full medical coverage, non-medical expenses can be significant, such as:
- Time off work or loss of income, especially for the self-employed
- Transport to treatment centres
- Childcare or domestic help during recovery
- Wigs, prosthetics, special bras, and other recovery aids
Lump-sum benefit policies like critical illness cover or cancer-specific products are often best for covering these costs.
Prevention & Early Detection Are Still the Best Protection
No financial product can replace your health. Screening and healthy lifestyle choices remain the best defence:
- Mammograms are recommended annually from age 40, or earlier if you have a family history.
- Perform regular self-exams.
- Eat well, limit alcohol, stay active, and avoid smoking.
- Discuss genetic screening with your GP if breast cancer runs in your family.
Take Action This Breast Cancer Awareness Month
Breast cancer is no longer a guaranteed death sentence, but without proper planning, it can still have severe financial consequences. Whether you already have insurance or are just getting started, ask yourself:
- Do I understand what my medical aid and insurance cover?
- If I were diagnosed tomorrow, could I afford treatment and still manage my daily life?
This Breast Cancer Awareness Month, take the time to protect both your health and your future. Speak with a trusted financial advisor, review your policies, and don’t wait until it’s too late to discover you’re under-covered.
Early detection saves lives. Financial protection saves livelihoods.
Written by Sigrid
