Medical scheme savings accounts are a great feature as they often bail us out in times of need, such as when we have to pay for medicines or make copayments. But if we dip into them too often, we could find ourselves with very little or no money left in t
4MAKE“Use doctors from the scheme’s network, as the scheme will invariably have entered into a payment arrangement with the doctors and therefore they will be paid in full and unlikely to demand a copayment,” says Kruger. Avoid to a specialist when a doctor’s consultation or advice from a pharmacist will suffice.
THE APPROPRIATE LEVEL OF CARE:
8CONSIDERMomentum’s HealthSaver, for example, is a complementary product that can be used to enhance your medical aid. “HealthSaver is only for medical scheme savings – you can’t use it to buy airtime. It allows people to save more than regulations allow them to.
“A significant number of people buy the pure hospital plan and then take the hospital saver scheme. We give you up to R1 000 back for free in the health saver account with the returns benefits,” explains McHugh.
If you end up making savings and there’s something left in the kitty, remember that any unused medical savings balances accumulate year on year and are not forfeited at the start of each year.
So, if you’re savvy, what you save in 2017 can be used in 2018 and beyond.