Photo: A3alb, Wikimedia Commons, CC BY-SA 3.0Bankmed medical aid 2026
Bankmed medical aid in 2026: who can join, the six plans and their monthly contributions by income
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Bankmed: a restricted scheme for the banking industry
The CMS register at 31 March 2026 lists Bankmed as restricted (CMS Annual Report 2025/26). The scheme's 2026 schedule says: "Bankmed is a restricted-access medical scheme, limited to people employed by a participating employer group in the banking or financial services industry", made up of registered banks and financial service providers that have partnered with it (2026 schedule).
Bankmed "is administered by Discovery Health (Pty) Ltd", but it is a separate legal entity from Discovery Health Medical Scheme, the open scheme (our page: Discovery medical aid plans). Its registration number is 1279 (application form). At its 2027 launch it reported 224,765 beneficiaries and 109,450 principal members, subject to the last approved financials (launch presentation).
Bankmed contributions 2026
Monthly contributions with effect from 1 January 2026, by monthly income; children are charged for at most three (2026 schedule, pp. 68–69). On the three savings plans the figures include the savings account.
| Plan | Monthly income | Main member | Adult dependant | Child dependant |
|---|---|---|---|---|
| Essential Plan | Up to R5,000 ¹ | R893 | R801 | R224 |
| R5,001– R6,000 | R975 | R879 | R255 | |
| R6,001– R7,000 | R1,078 | R970 | R277 | |
| R7,001– R8,000 | R1,184 | R1,065 | R305 | |
| R8,001– R9,000 | R1,352 | R1,220 | R335 | |
| R9,001– R10,000 | R1,505 | R1,352 | R379 | |
| R10,001+ | R1,714 | R1,545 | R433 | |
| Basic Plan | Up to R5,000 ¹ | R1,497 | R1,119 | R377 |
| R5,001– R6,000 | R1,645 | R1,233 | R424 | |
| R6,001– R7,000 | R1,813 | R1,354 | R468 | |
| R7,001– R8,000 | R1,988 | R1,512 | R513 | |
| R8,001– R9,000 | R2,272 | R1,722 | R569 | |
| R9,001– R10,000 | R2,528 | R1,913 | R636 | |
| R10,001+ | R2,878 | R2,157 | R721 | |
| Core Saver Plan | Up to R5,000 ¹ | R2,447 | R1,843 | R614 |
| R5,001– R6,000 | R2,622 | R1,969 | R656 | |
| R6,001– R7,000 | R2,807 | R2,106 | R701 | |
| R7,001– R8,000 | R2,949 | R2,211 | R741 | |
| R8,001– R9,000 | R3,177 | R2,389 | R802 | |
| R9,001– R10,000 | R3,340 | R2,511 | R837 | |
| R10,001+ | R3,683 | R2,756 | R926 | |
| Traditional Plan | Up to R5,000 ¹ | R4,096 | R3,067 | R1,023 |
| R5,001– R10,000 | R4,773 | R3,577 | R1,199 | |
| Above R10,000 ² | R4,968 | R3,731 | R1,244 | |
| Comprehensive Plan | R0– R10,000 | R5,436 | R4,071 | R1,367 |
| R10,001+ | R5,661 | R4,243 | R1,417 | |
| Plus Plan | All incomes | R9,644 | R7,221 | R2,414 |
How the Bankmed plans differ
| Plan | Hospitals | Savings account |
|---|---|---|
| Essential Plan | Essential Plan Hospital Network; limited to PMBs from a restricted network (34 hospitals removed from it in 2026) | No |
| Basic Plan | Basic Plan Hospital Network, more limited than the Traditional Plan's | No |
| Traditional Plan | Traditional Plan Hospital Network, wider than Essential and Basic | No |
| Core Saver Plan | Any private hospital | Yes — 10% of the gross contribution |
| Comprehensive Plan | Any private hospital | Yes — 15% |
| Plus Plan | Any private hospital | Yes — 20% |
Source: plan overview and benefit tables of the 2026 schedule. PMB conditions are paid in full on every plan at the designated providers: Prescribed Minimum Benefits.
Bankmed in 2027: the proposed increases
At its 2027 launch (8 October 2026) Bankmed presented proposed increases "subject to CMS approval": 9.5% on average — 5.5% on Essential, 8.5% on Basic, 9.8% on Core Saver, Traditional and Comprehensive, and 9.9% on Plus (launch presentation). The 2026 rands above apply until 1 January 2027.
How to join and claim
Membership goes through your employer: the 2026 application form must be signed and stamped by the employer and e-mailed with ID copies — Absa employees to [email protected], FNB to [email protected], Standard Bank to [email protected], other employers to [email protected] (application form). The scheme's late-joiner bands follow Regulation 13 (5%, 25%, 50%, 75%); work yours out with the late-joiner penalty calculator.
Network providers usually claim directly. Otherwise submit within four months of the service through the Bankmed app, [email protected] or Bankmed Claims, Private Bag X2, Rivonia 2128, with a detailed account (submit a claim). Call 0800 BANKMED (0800 226 5633).
Complaints
- Complain to Bankmed first, in writing, and keep the reference number: e-mail [email protected] (pensioners: [email protected]) or post to Complaints Bankmed, Private Bag X2, Rivonia 2128; Bankmed says it answers written complaints within 30 days (contact us).
- If the answer does not settle it, use the scheme's internal dispute process (the scheme's rules require one, s 29(1)(j) of the Medical Schemes Act).
- Then complain to the Council for Medical Schemes: e-mail [email protected] with the CMS complaint form, the scheme's reply and your accounts (CMS complaints procedure). Under section 47 the scheme has 30 days to answer the CMS; a ruling can be appealed within 3 months (s 48). How it works: Council for Medical Schemes.
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Frequently asked questions
Who can join Bankmed?
People employed by a participating employer group in the banking or financial services industry, with their dependants. Bankmed is a restricted scheme.
How much is Bankmed per month in 2026?
From 1 January 2026, from R893 per main member on the Essential Plan (lowest income band) to R9,644 on the Plus Plan.
Is Bankmed the same as Discovery Health Medical Scheme?
No. Bankmed is administered by Discovery Health (Pty) Ltd but is a separate legal entity and a restricted scheme; Discovery Health Medical Scheme is an open scheme.
How much will Bankmed increase in 2027?
A 9.5% average is proposed, from 5.5% (Essential) to 9.9% (Plus), subject to CMS approval (launch presentation, 8 October 2026).
Which Bankmed plans have a medical savings account?
Core Saver (10% of the gross contribution), Comprehensive (15%) and Plus (20%).
Sources
- Bankmed — Benefit and Contribution Schedule 2026: schedule of monthly contributions with effect from 1 January 2026, plan overview, savings (scheme's own PDF, pp. 18–19 and 68–69, seen 31 October 2026)
- Bankmed — 2027 Benefits and Contributions Launch (presentation, 8 October 2026): proposed increases subject to CMS approval, membership
- Bankmed — Application to become a member of Bankmed in 2026 (registration number 1279; administrator Discovery Health (Pty) Ltd)
- Bankmed — Contact us: 0800 BANKMED, complaints answered within 30 days, CMS details (seen 31 October 2026)
- Bankmed — Submit a claim: four-month limit, channels (seen 31 October 2026)
- Council for Medical Schemes — Annual Report 2025/26 (copy tabled in Parliament, hosted by PMG): register of medical schemes at 31 March 2026, solvency, complaints
- Council for Medical Schemes — Medical Schemes Act 131 of 1998 and Regulations (consolidated copy, Web Archive)
- Council for Medical Schemes — The Complaints Procedure (Web Archive)