SchemeBook · Jargon

Savings account / above-threshold benefit

A day-to-day medical spending pot that isn't the same as your main cover.

Many plans allocate part of your premium to a personal medical savings account for day-to-day claims (GP visits, over-the-counter medicine). Once that's exhausted, some plans have an above-threshold benefit that kicks back in — but there's often a gap in between where you pay out of pocket.