Momentum HealthSaver Refund

I’m on the Momentum medical aid and I was paying for a health saver benefit in addition to the premium per month. I’ve now cancelled my health saver and expect the amount to be refunded back to me.

I’ve been in informed by Momentum that my health saver benefit balance (which is approximately R40 000) will only be paid out to me in about 4 months. This is not ideal as I’m in real desperate need of the funds - just plain poor service, and unfair practice?

This is my money that I’ve been paying to Momentum monthly and faithfully for about 9 years. I’ve hardly had any claims – so why should I wait 4 months? It benefits Momentum in that it discourages members from cancelling the benefit if they’ll have to wait 4 months anyway, which I think is manipulative and not fair practice..

If the argument is that they are waiting for possible claims in those 4 months – this is weak. Each case is not the same. I’m a single, healthy male with no dependents who hardly has claims besides the yearly over the counter payment for flu medication in winter. Based on my history, I should not be waiting 4.5 months – it’s ridiculous.

And how did they get to this figure of 4 months – is it arbitrary (why not a month?) or did they actually do some number crunching to get to it. However, it is irrelevant in my opinion, these funds are due to me (they are not doing me a favour). This waiting period is clearly only to the company’s benefit and the interest of the client is not paramount.

- Angry and Frustrated Client