Tips for choosing your Plan

Bankmed offers a wide range of Plans to meet your medical needs and your budget. Since year-end is approaching, you should think carefully if your current Plan still meets your healthcare needs or if you need to choose a new one. Keep in mind that you can only change your Plan once a year, at the end of the year. So now is your chance to make sure your Plan still meets your needs!

If you are young and healthy, or on a tight budget

You would benefit from the Essential Plan or Basic Plan. Both of these Plans offer great value for money, including full cover for Prescribed Minimum Benefits (PMBs) at designated service providers (DSPs). The Basic Plan also provides comprehensive cover for hospitalisation and most in-hospital services in the Bankmed Hospital Network.

If you are willing to use only network providers

The Essential Plan, Basic Plan and Traditional Plan could all work for you. These Plans provide cost-effective cover for hospitalisation, GP visits and specialist visits through a network of designated service providers. The Essential Plan provides cover for chronic medicine for Prescribed Minimum Benefits. The Basic Plan has no overall limit for chronic medication if you use Bankmed network Healthcare Professionals and your medication is on the approved medicine list (formulary). The Traditional Plan overs comprehensive cover for chronic medication, subject to an annual limit.

If you need a Medical Savings Account

You should consider the Core Saver Plan, Comprehensive Plan or Plus Plan. With these Plans, you get a Medical Savings Account (MSA) for your day-to-day healthcare expenses, like GP visits, dentist visits and X-rays. The Plus Plan also has an Above Threshold Benefit, which acts as a safety net when you run out of funds in your MSA.

If you need cover for chronic medication

The Traditional Plan, Comprehensive Plan or Plus Plan would best suit your needs. On all of these Plans, we pay 100% of the Scheme’s Maximum Medical Aid Price (MMAP) for designated service providers in the Bankmed GP Network and Pharmacy Network. The Plus Plan offers the highest limit for chronic medication.