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#MSWSA2023: How to choose a medical scheme?

The most money-savvy way to manage your family’s health needs is to choose a medical option that fits your budget and meets your family’s needs.

This Money Smart Week (#MSWSA2023), the CMS has partnered with the National Consumer Financial Education Committee (NCFEC), National Treasury, Financial Sector Conduct Authority (FSCA) and various stakeholders to promote general financial awareness under the theme “Build your future, be smart about money”.

So, whether you’re choosing or changing a new medical scheme or option, be smart about your money!

Here are a few things to keep in mind when choosing a new medical scheme or changing your benefit option:

  • Read your potential medical scheme’s information brochure and get familiar with scheme rules, formularies, and other important information before choosing an option that meets your needs and budget.
  • You may use a broker, although it is not compulsory. If you do, the broker must be registered with the Council for Medical Schemes.
  • Your medical scheme may not charge you more because you are older or sicker. Variations in contribution rates may only be based on:

o  income, and
o  number of dependants
o  or both

  • No restrictions, co-payments, or exclusions may be applied to any person in respect of the Prescribed Minimum Benefits (PMBs) if the services are obtained from DSPs and considered to be PMB level of care. In instances where services are voluntarily obtained from a non-DSP, co-payments may apply with the exception of medical emergencies.
  • If you are an existing scheme member, get acquainted with changes to your benefit entitlements, updated scheme rules and network providers for next year.

“Build your future, be smart about money!”

Download our guide on How to choose a medical scheme  in the following languages:

More on Money Smart Week South Africa (MSWSA) click here.

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