Protecting your physical and financial wellbeing – Movember and Prostate Cancer

Prostate cancer is the most common cancer among men both locally and globally, and it carries a lifetime risk of 1 in 15 in South Africa, according to the most recent National Cancer Registry. Testicular cancer, though less common, has seen a rise in younger men. Despite this, many men remain unaware of their risk and the need for regular screenings, as well as of the costs involved in treatment. Even with medical aid, shortfalls can and do occur, and having gap cover in place is an essential safeguard in protecting physical and financial wellbeing.

Early detection is always key

Statistics on the prevalence of prostate cancer vary, but some sources state that it accounts for up to a quarter of all male cancers in South Africa, with the average age of diagnosis at 65 years. Testicular cancer is rarer but is cited as the most common male cancer in adolescents and men up to the age of 35. While older men are more susceptible to prostate cancer, and testicular cancer is more prevalent in younger men, both types can and do affect men of all ages.

Be aware, be prepared

Prostate and testicular cancer are typically classified as Prescribed Minimum Benefit (PMB) conditions in South Africa, meaning medical aids must cover treatment according to the standard protocols offered in state hospitals. However, this does not cover the full range of treatment options, such as biological cancer drugs, which can lead to medical expense shortfalls. Men may face out-of-pocket expenses for surgeries, therapies, and other next-generation treatments that are not fully covered by their medical aid. Co-payments for certain treatments and penalties for using non-Designated Service Providers (DSPs) can also leave patients with significant bills, even though treatment is covered under PMBs. This is where gap cover becomes essential.

Prostate cancer claims at Turnberry account for 7% of all cancer-related claims, underscoring the financial burden faced by men diagnosed with this disease. In 2022 alone, Turnberry reported high-value claims for prostate cancer-related shortfalls, including a gap of R29,530 from a total bill of R84,889 and another claim of R54,555 from a total of R84,899. Without gap cover, these shortfalls would have become the responsibility of the patients, threatening their financial well-being long after their treatment was completed.

The financial strain of cancer treatment can add unnecessary stress to an already challenging situation. Gap cover serves as a financial safeguard, ensuring that men receive the best possible care without being burdened by medical expense shortfalls. It allows patients to focus on recovery rather than worry about the costs of life-saving treatments. By covering out-of-pocket expenses that medical aids do not, gap cover offers men and their families much-needed peace of mind.

Medical aid schemes vary widely in their coverage and cancer benefit structures. Likewise, different gap cover policies offer varying degrees of protection. It is therefore critical for men to consult their brokers or financial advisors to ensure they have the most suitable gap cover policy to complement their medical aid.

Beyond Movember

Movember is more than a campaign; it is a global call to action for men to take control of their health. As awareness around male cancers grows, so too must the understanding of the financial implications of treatment. In South Africa, where medical aids may not cover all costs, gap cover is vital in bridging the gap and ensuring men receive the care they need without the burden of financial strain. By fostering greater awareness of both the health risks and the financial tools available, men can better navigate the challenges of a cancer diagnosis, prioritising their health and well-being without sacrificing their financial stability.

Tony Singleton, CEO at Turnberry Management Risk Solutions