The Hidden Cost of Cancer

The Hidden Cost of Cancer

As the leading cause of death globally, cancer holds more than just physical and emotional implications – it can also have a devastating impact on your finances.
Statistically, one in four South Africans will be diagnosed with cancer or have someone close to them diagnosed. The financial burden of dealing with a dread disease like cancer can be massive – the out-of-pocket medical costs, as well as unforeseen non-medical expenses like in-home carers and additional childcare.

VAT is not payable on medical aid contributions

VAT is not payable on medical aid contributions

VAT is not payable on medical aid contributions
Some Financial Advisors may be aware that their clients do not pay VAT on their medical aid contributions. Medical aid contributions for 2018 are already set and Bonitas will not increase contributions mid-year to accommodate the change in VAT. So, while the increase in VAT may influence the price of services, it will not impact on contributions or benefits.