Stretch those medical scheme savings

Medical scheme membership can include a savings plan or not, it’s the member’s choice – although not all Plans have a savings option.Savings

These medical savings is a fixed amount that the medical scheme gives you at the beginning of the year. Most members would use these savings for day-to-day medical expenses such as GP and dentist visits, eye tests and your medication.

The monthly payments form part of your monthly contribution to the medical scheme, and the percentage allocated to savings are determined by your medical scheme. These funds are all made available upfront at the beginning of the calendar year, and may not exceed 25% of your annual contribution.

The challenge is however to ensure the savings are not depleted in the middle of the year.

A few tips to ensure you can stretch those savings as far as possible:

  • Think of your medical savings as a bank account where your savings can accumulate year after year (if you stay on the same medical scheme), building a nice kitty
  • Know your numbers, how much medical savings have you got monthly.
  • Submit all your claims
  • Try to pay for over-the-counter medication out of your own pocket, and not out of your medical savings account
  • Register your chronic medicine on your medical scheme – you may qualify for the medical scheme chronic benefit, which is paid out of the risk portion instead of the savings
  • Pay cash to qualify for discount, and claim afterwards


For more assistance or information on how you can make your medical scheme options and benefit work better for you,