Council move does not affect member savings
The Council’s announcement effectively means that member’ savings will in future form part of a scheme’s overall assets and that all scheme monies are now kept in one account.
So, how does this affect your clients’ medical savings accounts? Fortunately, there is no change in members’ savings accounts or how they access them. Members’ medical savings accounts can still be used as they always were, and medical savings account pay outs will still be made as normal.
For more information, feel free to contact your dedicated Business Development Consultant.