medicalsavings
nounUK /ˈmɛdɪkəl ˈseɪvɪŋz/
US /ˈmɛdɪkəl ˈseɪvɪŋz/
Money you put away to pay for doctor visits and medicine when you need them.
Her family uses medicalsavings to cover the cost of checkups and prescriptions.
RELATED WORDS
OTHER MEANINGS
2. A tax-advantaged account used to set aside money for qualified medical expenses.
He contributed to his medicalsavings account each month to prepare for future bills.
3. The total amount of money saved by a healthcare system or program.
The new policy produced significant medicalsavings for the hospital.
4. Funds set aside by an employer to help workers pay for health costs.
The company added medicalsavings to its employee benefits package.