Issue link: https://www.hub.camaf.co.za/i/1512927
2024 ALLIANCE PLUS & ALLIANCE NETWORK 09 2024 ALLIANCE PLUS & ALLIANCE NETWORK 09 How does the CAMAF Medical Savings Account work? A pre-determined monthly amount is paid into an account on your behalf. You can access the annualised amount immediately, which can be used for: • Top up on the cost of services charged by a service provider e.g., the difference between payment by the scheme and charge by the service provider with the exception of a PMB condition and co-payments on medication. • Extension of annual benefit. • Payment of an excluded benefit from positive savings e.g., cosmetic surgery. • It may not be used to offset contributions while still a member. Can I use my MSA to pay for non- nominated GP visits if I am on Alliance Network? Yes, you will be able to use your savings for co-payments for non-DSP visits. What happens to any unused MSA at year end? Any unused savings are rolled over to the following year for use as above. Does CAMAF pay interest on this money? Yes - MSA funds are invested in a separate bank account exclusively for members' MSA contributions and interest is accrued monthly at a rate determined by the banking institution. Does CAMAF charge interest on MSA in debit i.e., before I have contributed the full amount? No, CAMAF does not charge interest on debit balances. What happens if I resign from CAMAF or move to an option without savings? If you have a positive MSA, on application the money will be: • Transferred to your new scheme for allocation to your MSA with your new scheme. • If you choose not to move to another scheme, or an option without MSA, your savings balance will be refunded to you upon application and will be subject to the applicable tax laws. When will I be refunded my MSA? Upon application and subject to the above, the positive MSA will be paid over to you or your new scheme within a reasonable period after the lapse of 4 months. What happens to my MSA if I die? Your savings will be paid into your estate if you have no dependants continuing on the scheme. What about a Threshold and self- payment gap on CAMAF? On CAMAF options there is no Threshold or Self-payment Gap. Savings are not used to pay for day-to-day expenses - they are used to top up on differences between what the scheme has paid for a service and the charge by the service provider and to extend benefits. MEDICAL SAVINGS ACCOUNT MSA BACK TO CONTENTS PAGE