Bankmed Medical Aid (🇿🇦 2026)

    Overall, Bankmed offers 6 medical aid plans (Essential, Basic, Core Saver, Traditional, Comprehensive, and Plus) starting from R893 per month. Additionally, Bankmed offers 24/7 emergency support. Gap Cover available optional extra.   Bankmed is a closed scheme and not available to members of the public.        

Bankmed Review - Analysis of Medical Aids' Main Features

 

1. ✅ Bankmed at a Glance
2. ✅ Bankmed Plan Overview
3. ✅ Bankmed – Advantages over Competitors
4. ✅ Bankmed Regulation
5. ✅ Bankmed Procedures, Conditions, and Benefits
6. ✅ Bankmed Medical Savings Account
7. ✅ How to apply for Medical Aid with Bankmed - A Step-by-Step Guide
8. ✅ How to Submit a Claim with Bankmed
9. ✅ How to Submit a Compliment or Complaint with Bankmed
10. ✅ Bankmed vs Sizwe Hosmed vs Polmed - A Comparison
11. ✅ Bankmed Member Reviews
12. ✅ Bankmed - Our Verdict
13. ✅ Bankmed Pros and Cons
14. ✅ Bankmed Conclusion
15. ✅ Bankmed Frequently Asked Questions

   

Bankmed at a Glance

     

Bankmed Plan Overview

  Bankmed offers 6 Plans to choose from including Essential, Basic, Core Saver, Traditional, Comprehensive, and Plus.      

Bankmed Essential Plan

A lean, low-cost Plan with benefits limited to Prescribed Minimum Benefits (PMBs) only available through the Bankmed GP Entry Plan Network.  

• ✅ Entry Level
• ✅ Low Healthcare Needs
• ✅ Prescribed Minimum Benefits
• ❎ No Medical Savings Account

   

Bankmed Basic Plan

A wide range of Primary Care benefits (including non-Prescribed Minimum Benefits) available through the Bankmed GP Entry Plan Network.  

• ✅ Low Contribution Plan
• ✅ In and Out of Hospital Benefits
• ✅ Chronic Disease Benefits
• ✅ Non-Prescribed Minimum Benefits
• ❎ No Medical Savings Account

   

Bankmed Core Saver Plan

Hospital Plan with a MSA component for day-to-day expenses.  

• ✅ Modest Healthcare Needs
• ✅ Primarily focussed on hospital coverage
• ✅ Modest Medical Savings Account
• ✅ Access to a large network of healthcare professionals.

   

Bankmed Traditional Plan

A Network Plan with a wide range of benefits with annual sub-limits for day-to-day expenses.  

• ✅ A comprehensive medical Plan
• ✅ Moderate to high healthcare requirements
• ✅ Offers a wide range of benefits
• ✅ Annual sub-limits for day-to-day expenses
• ❎ No Medical Savings Account

   

Bankmed Comprehensive Plan

A comprehensive range of benefits paid from both Insured and MSA for out-of-hospital cover.  

• ✅ A comprehensive range of benefits
• ✅ Moderate to high healthcare needs
• ✅ Medical Savings Account
• ✅ Covers in-hospital GP and specialist procedures at 100% of the Scheme Rate
• ✅ Benefits paid from both insured and savings components for out-of-hospital expenses

   

Bankmed Plus Plan

Top of the range Plan with a Medical Savings Account (MSA) and an Above Threshold Benefit (ATB) (a safety net) for when your funds in your MSA are exhausted.  

• ✅ For moderate to high healthcare
• ✅ Comprehensive medical coverage
• ✅ Medical Savings Account
• ✅ Above Threshold Benefit

     

Bankmed – Advantages over Competitors

  Choosing to use Bankmed includes a number of benefits including:  

• ✅ Wide range of medical cover options to suit different healthcare needs and budgets.
• ✅ Large network of healthcare professionals, including specialists and hospitals.
• ✅ Comprehensive medical cover with options for in-hospital and out-of-hospital benefits.
• ✅ Medical Savings Account and Above Threshold Benefit options for members with high healthcare needs.
• ✅ Exceptional customer service and support.

    And much, much more!    

Bankmed Regulation

  The Council for Medical Schemes regulates Bankmed Medical Scheme.  The Council governs South Africa's medical plan business for Medical Schemes (CMS), a regulating body set up under the Medical Schemes Act, No. 131 of 1998 (the Act).   The CMS is responsible for a range of tasks related to the oversight of medical insurance plans, such as:  

• ✅ Responsible for registering medical insurance plans and ensuring they comply with the law and other laws.
• ✅ Making sure healthcare plans have the money to pay claims.
• ✅ Examining and authorizing proposed price hikes for medical plans.
• ✅ Accepting and examining member complaints and initiating disciplinary action against medical plans that violate the Act or other applicable rules.
• ✅ Helping medical insurance plans follow the law and other laws.

    Furthermore, if a medical scheme is found to violate the law, the CMS has the authority to issue administrative fines and penalties.      

Bankmed Procedures, Conditions, and Benefits

  Take Note: Subject to Specific Plan and Scheme Rules   Bankmed covers a range of procedures and conditions and Bankmed’s plans feature several benefits, including:  

• ✅ There is no overall annual limit on plans.
• ✅ Claims for services rendered outside South Africa’s Borders / Foreign Claims
• ✅ Wellness and Preventative Care Benefits / Insured Benefits
• ✅ HIV/AIDs Program

     

Wellness and Preventative Care Benefits / Insured Benefits

  Bankmed Wellness and Preventative Care Benefits include the following:  

• ☑️ Flu Vaccines
• ☑️ Human PapillomaVirus (HPV) Vaccine
• ☑️ Childhood Vaccines
• ☑️ Pneumococcal Vaccine
• ☑️ Herpes Zoster Virus Vaccine
• ☑️ Mammogram
• ☑️ Breast MRI
• ☑️ Bone Densitometry
• ☑️ Prostate-Specific Antigen
• ☑️ Fecal Occult Blood Test
• ☑️ Tuberculosis (TB) Screening
• ☑️ Bankmed Mental Wellbeing Assessment
• ☑️ Cholesterol Screening
• ☑️ Blood Sugar Screening
• ☑️ Blood Pressure Measurements
• ☑️ HIV Counselling and Testing (HCT)
• ☑️ Pap Smears
• ☑️ Personal Health Assessment (PHA)
• ☑️ Mental Health Management
• ☑️ and many more....

 

READ more about GEMS Medical Aid Scheme

   

Bankmed HIV /AIDS Program

  The Bankmed HIV /AIDS Program includes the following benefits:  

• ☑️ Consultations and Pathology
• ☑️ Medication through Bankmed Pharmacy Network (DSPs)
• ☑️ Medication through non-DSPs in terms of voluntary use is covered at 80% of the scheme medicine reference price, and motivation is necessary to use a non-DSP.
• ☑️ Involuntary use of a non-DSP for medication is covered at 100% of the cost. However, motivation is required to use a non-DSP.
• ☑️24-Hour Medical Advice Line

     

Bankmed Pregnancy and Childbirth

  Bankmed Pregnancy and Childbirth benefits include:  

• ☑️ The Baby and Me Pregnancy Program.
• ☑️ Hospital stays and related medical care.
• ☑️ Midwife care and delivery.
• ☑️ Facilities for out-of-hospital births as an alternative to hospitals.
• ☑️ Exclusive to areas without reliance on hospital care (including all active birthing units).
• ☑️ Consultations with primary care physicians and specialists and in-room deliveries are provided during the antenatal and postnatal phases of care.
• ☑️ Ultrasound examinations for prenatal and postnatal care.
• ☑️ Pathology care for antenatal and postnatal.
• ☑️ Radiology and Pathology

 

READ more about Hospital Plans for your baby

   

Bankmed Emergency Services

  Bankmed Emergency Services offers real-time emergency care for all members  24 hours a day, seven days a week for any emergency calls.  Bankmed will pay in full if :  

• ☑️ The medical condition starts suddenly and is unexpected.
• ☑️ The condition has to be treated at once (treatment could involve an operation).
• ☑️ If treatment does not start at once, the condition could cause weakened bodily functions, serious and lasting damage to organs, limbs, or other body parts, or even death.

     

Bankmed Cover for Cancer

  If a patient is diagnosed with cancer and their cancer treatment is approved, they will have access to coverage through the Oncology Programme. Treatment covered include:  

• ☑️ Access to the most appropriate level of treatment for the specific stage of cancer.
• ☑️ Chemotherapy, radiotherapy, and other healthcare services are based on proven effectiveness, evidence-based healthcare, and cost-effectiveness.

   

Bankmed Medical Savings Account

  Bankmed offers three plans that offer Medical Savings Accounts, namely:  

• ✅ Core Saver Plan
• ✅ Comprehensive Plan
• ✅ Plus Plan

   

Bankmed Core Saver Plan

   

Bankmed Comprehensive Plan

   

Bankmed Plus Plan

       

How to apply for Medical Aid with Bankmed - A Step-by-Step Guide

Note that Bankmed is a closed scheme and not available to the general public. To apply for Medical Aid through Bankmed, the applicant can follow this short walkthrough -   1.  ✅ Step 1:  Start the Bankmed Medical Aid Registration  

• ☑️ Navigate to the Bankmed website and view the plans available.  A comparison tool is made available on the website to view plans side-by-side.

    2.  ✅ Step 2:  Register on the Bankmed website, download, and print the application form.  

• ☑️ Use block letters and complete the form in black ink.
• ☑️ Ensure legibility by printing clearly.
• ☑️ Carefully read and comprehend the terms and conditions outlined in Section 10.
• ☑️ The main applicant must sign and date Sections 9 and 10 and any necessary changes.
• ☑️ Include a copy of each applicant's identity document, such as a passport or birth certificate for children.

    3.  ✅ Step 3:  Complete the Bankmed Registration   Complete the Bankmed Registration form by providing relevant information under these sections:  

• ☑️ About yourself (Main Applicant)
• ☑️ Regular Dependents if you add a spouse, domestic partner, civil union partner, a child, or grandchild of a dependent.
• ☑️ Special Dependents – only complete this if you add a parent, parent-in-law, parent of your civil union partner, or sibling who depends on you for support and care.
• ☑️ Plan Selection for Main Applicant and Dependents
• ☑️ Employer Information
• ☑️ Main Applicant’s Banking Details
• ☑️ Previous Medical Scheme Details
• ☑️ Health Questions
• ☑️ Bankmed Privacy Statement
• ☑️ Bankmed Terms and Conditions
• ☑️ Annexure A: Third-Party Bank Details

       

How to Submit a Claim with Bankmed

  Claims  can be submitted via email, Website, and App.  Members can submit a claim to [email protected]. or log into the website using your credentials and Select “Submit a claim” on the Claims page.  

• ✅ A claim must be submitted within four months of the date of service. The claim will expire after this date, and you will not be reimbursed.
• ✅ Ensure that your membership number and the details of the Healthcare Professional, including their practice number, are clearly displayed on the claim.
• ✅ Submit a comprehensive claim, not just a receipt.

    Bankmed requires information about the treatment or medication for which you submit a claim.      

How to Submit a Compliment or Complaint with Bankmed

  Compliments can be sent to Bankmed via telephone, email, live chat, fax, or post. In terms of complaints, the following process must be followed:  

• ✅ Step 1: Contacting Bankmed Customer Service
• ✅ Step 2: Escalation of Inquiries or Complaints
• ✅ Step 3: Reporting Unresolved Issues

       

Bankmed vs Polmed - A Comparison

       

Bankmed Member Reviews

  Impressive Service. I recently reached out to Bankmed regarding a partially paid claim and was impressed by the level of service provided by the consultant. They were both friendly and highly efficient in resolving my inquiry. It is always a positive experience to encounter a representative who goes above and beyond their duties to provide excellent customer service. - Maizie Prince     Excellent Support. I recently had the pleasure of contacting Bankmed for assistance with a Plan change and was thoroughly impressed by the friendly and efficient service provided. My new Plan was explained in detail, the pricing was communicated, and the process was smoothly completed. I was contacted the following day to confirm that my request had been satisfactorily addressed and to inquire about my overall well-being. This level of exceptional service is truly commendable. - Harriet Long     Happy Member. I would like to extend my sincerest admiration to the Bankmed Enquiries Team. Having dealt with numerous customer service departments, I can attest that many have been inadequate. However, the Bankmed Team consistently exceeds my expectations and provides a level of customer service that is truly remarkable. - Joanne Nicholson    

Bankmed - Our Verdict

  💙 Bankmed is a closed medical scheme  in South Africa. It provides comprehensive medical cover to their members, including inpatient and outpatient treatments, preventive care, and various wellness benefits.   💙 Bankmed members have access to a large network of healthcare providers, a range of customizable plans to suit individual needs, and access to the Bankmed Balance Rewards Program.    

Bankmed Pros and Cons

   

Bankmed Conclusion

  Overall, Bankmed is a good medical scheme offered to employees working in the Banking Sector of South Africa.  

Bankmed Frequently Asked Questions

 

Are Bankmed and Discovery the same?

Bankmed and the Discovery Health Medical Scheme are two entirely separate medical schemes. Bankmed is completely independent of Discovery Health Medical Scheme. Bankmed is a closed scheme not available to the general public.  Discovery Health Medical Scheme is an open medical scheme and available to all members of public.  

Who owns Bankmed?

Bankmed is a closed medical scheme that is owned by its members. However, Discovery Health (Pty) Ltd, a subsidiary of Discovery Limited, administers Bankmed.  

Is Bankmed only open for banking sector employees?

Anyone working for a business with a contract with Bankmed can become a member. If you join Bankmed on your first day of work or the first of the month after you start working, you will be eligible for benefits as of the date you joined.  

How can I get my Bankmed Tax Certificate?

You can access your Bankmed tax certificate by logging into the website, going to the Tax Certificate section, and downloading/printing your certificate.  

How can I contact Bankmed Authorizations?

You can call Bankmed to obtain authorization for procedures. Alternatively, you can email them, complete the online form, or visit a Bankmed office.  

How many providers are in the Bankmed Hospital Network?

Bankmed has a hospital network consisting of 212 service providers.  

Where can I find the Bankmed Contact Details?

The Bankmed contact details can be found on the Bankmed website. Typically, this information is readily available on the "Contact Us" or "Customer Service" section of the website.  

What are the Bankmed call center operating hours?

Bankmed operates from Monday to Friday, 8 am to 8 pm, and Saturdays from 8 am to 1 pm.  

Where can I view the Bankmed Plans and Prices for 2026?

You can visit the Bankmed website, select “Plan Options” from the menu, and click on the “2026 Benefit and Contribution Schedule” link to view the Bankmed plans and prices.  

Who can Join as a Bankmed Main Member?

Membership is open to all individuals employed by a Bankmed-contracted employer.  

Who can join as a Bankmed Dependent?

The members of your immediate family who may qualify as dependents are as follows - A spouse or partner.  

How to Downgrade my Plan with Bankmed?

Members can downgrade a Bankmed plan by contacting the provider online or via email, fax, phone, and post.  

How do I add a Beneficiary to Bankmed?

If you want to add a child or adult dependent, you can log into your Bankmed profile and Download and print the Bankmed “Application to add dependent/s 2026” from the website.