Rewards Bank
Additional Service From Nammed Medical Aid Fund
As part of the Nammed additional service offering, the Rewards Bank provides a monetary incentive for members in return for managing your claims responsibly. The incentive will be in the form of the monetary balance between an allocated threshold amount and the day-to-day benefit. This amount will accrue as a credit amount in your Rewards Bank to be used for medical and related expenses that are not normally covered by the Nammed medical aid fund. This amount will then be transferred, following the run-off period, into the Rewards Bank account, which can be used to pay for medical expenses.
Make Payments Using Your RewardsBank Account
A positive balance in your Rewards Bank account may be used for:
- Routine medical costs (in and out of hospital)
- Outstanding co-payments
- Any medical expense usually excluded as per the fund rules, on condition that:
- Medical treatments be provided by a registered healthcare professional
- Medical products have a valid NAPPI code
- Sunglasses, whether or not prescribed by an optometrist or ophthalmologist
- The difference between the actual costs and the NAMAF Benchmark tariffs for medical services covered by the rules of the fund
- Medical aid contributions: For employer groups, any request for a contribution holiday must be pre-approved by the employer
- Claims for conditions, procedure or medicines excluded by the rules, including exclusions
What You Need To Know About Your Rewards Bank Account
The Rewards Bank limits will be determined according to family size up to a maximum of main member and five dependents (M+5). All active and paid-up members on Nammed medical aid fund will receive Rewards Bank threshold limits as specified in the brochure per option. Should the member deplete the Rewards Bank threshold amount for the current year, then no Rewards Bank amount will be carried over to the accumulated Rewards Bank account.
Should the designated claims be less than the Rewards Bank threshold limit at the end of the fund financial year, then the balance remaining will be carried over to the Rewards Bank account on 01 May annually.
Should the member resign from the fund, then the member will forego the positive balance in the accumulated Rewards Bank account. The balance in the Rewards Bank will then be transferred to the Nammed medical aid fund reserves.
Upon resignation of a member from an employer group, if the member elects to continue as a private member or part of another employer group on Nammed medical aid fund, then the positive accumulated Rewards Bank account will be transferred with the new membership number without forfeiture of the accumulated Rewards Bank account.
Upon the death of the principal member, any positive accumulated Rewards Bank account amount, due to the member will be transferred to his or her dependants, if the dependants continue membership with the fund. If the dependants of such deceased member resign from the fund, then the positive balance of the Rewards Bank account will be forfeited and transferred to the fund’s reserves. Each transaction will be separately authorised by the member for payment of claims.
Any positive accumulated Rewards Bank amount that is left over from the previous year will be carried over to the new benefit year and the member will not lose these benefits as long as the member is an active and paid-up member. Requests for contribution holidays must be pre-approved in advance and one month’s notice must be given to the fund. Each transaction will be separately authorised by the member for payment of claims. Positive accumulated Rewards Bank accounts cannot be transferred to Trauma, Basic options. Should the member request for an option change the member will forfeit the positive accumulated Rewards Bank amount.
Should a member join the fund or downgrade options during the course of the year, pro-rating of benefits will apply regards to Rewards Bank threshold limits. Upon suspension or cancellation of a member, the positive balance in the accumulated Rewards Bank account will be transferred to the fund’s reserves.
Side Pannel
Medical Aid Options
Nammed
Basic
The Basic option provides reasonably-priced, primary healthcare services to the lower-income group. (Maximum monthly salary may not exceed N$17 000).
N$733
Overall Annual
Benefit of
Unlimited (State Facility)
Nammed
Trauma
The Trauma option offers comprehensive benefits for major medical expenses normally associated with hospitalisation. Ideal for members wishing to cover hospital costs only.
N$1744
Overall Annual
Benefit of
N$3 000 000.00
Nammed
Active
The Active option offers benefits associated with hospitalisation and day-to-day medical expenses. This option will cater for young, single people and smaller, healthy families.
N$1787
Overall Annual
Benefit of
N$1 500 000.00
Nammed
Essential
The Essential option is generally suited for the healthier person or family between 36 and 55, who seeks greater benefits than the Active option without needing as much as the Standard option offers.
N$3041
Overall Annual
Benefit of
N$2 200 000.00
Nammed
Standard
The Standard option offers benefits associated with hospitalisation and day-to-day medical expenses. This option is well-suited for the middle-to-higher-income earners who wish to enjoy peace of mind.
N$3497
Overall Annual
Benefit of
Unlimited
Nammed
Comprehensive
The Comprehensive option offers benefits associated with hospitalisation and day-to-day medical expenses. Ideal for members wishing to cover their medical costs to the greatest extent possible or whose health risks may be perceived as high.
N$4425
Overall Annual
Benefit of
Unlimited
Life Stages
18-25
Starters
- Beginning Employment.
- Low - Medium Income,
- Low Health needs,
- For unexpected medical needs.
26-35
Nest Builders
- Seek value rather than cheapest option.
- Need cover for expected medical needs for the young family..
36-55
Mid-Lifers
- Middle to High income levels,
- Medical Aid is a routine monthly expense,
- stable health needs,
56-60
Grey Foxes
- Moving towards retirement,
- Health risks and prevalence of chronic diseases increasing,
61+
Wise Owls
- Members approaching or in retirement,
- Increased prevelance of chronic diseases,
- Greater importance of extent of cover for major medical events like knee & hip replacements.