![]() The pressures of the current economic climate, a rise in claims from members, the high cost of healthcare technology, and the fact that medical schemes have to pay for the treatment of PMBs at private hospitals and private doctors at cost all contribute to a spike in medical scheme contribution costs. Many schemes are under pressure, and are forced to increase their member contributions, while trimming their benefits – always an unpopular thing with scheme members. Bestmed announced a 10.98% average increase on 7 October for the year 2017. The increases range from 9.89% and 12.35% on the various options. CEO of Bestmed Dries la Grange called the increase "very competitive" and said that Bestmed was somewhat less affected than other schemes by a high claims pattern. He also said that Bestmed benefited from being a member-owned administrator with a huge focus on wellness. Bonitas announced an 11.9% increase for all Bonitas options on 29 September. Poor economic growth, increased interest rates, inflation and basic costs of living put pressure on consumers, said Dr Bobby Ramasia, principal executive officer of Bonitas. He also mentioned other contributing factors to the financial pressure, which are a falling rand, the rising cost of hospital admissions, fraud, wastage and abuse, and the cost and increased use of Prescribed Minimum Benefits (PMBs). The table below details of some of the announcements on contribution increases from some of the schemes (not all schemes have announced their increases): Please contact Namhla or Judy in our Health Department, email [email protected] , to find out what your increase will be for 2017.
Source: Finance24
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Please note that our Short Term service providers will not be accepting new applications from 15 November 2016 - 15 January 2017 for any Commercial and Domestic policies. The service providers are :
If you are a medical aid holder and would like an option upgrade from 1 January 2017,please note that all option upgrades have to be submitted by latest 30 November 2016 to us as your Broker. This applies for the following service providers:
The Vitality programme is designed to help you get healthier. It has been proven that you can make a significant impact on your health when you take steps to change your lifestyle. In order to reward you for the steps you are taking to get healthier, in 2017 we are enhancing some of our assessments and screenings to be more personalised, and aligned to positive health outcomes, and we have updated the Vitality points structures.
We will be introducing the following updates in 2017: 1) Vitality status threshold changes The initial steps in embarking on a journey towards good health have high health benefits for you.
All online assessments will be consolidated into one integrated Vitality Age assessment, and you can now earn 2 500 Vitality points for finding out your Vitality Age. This means that the Online Fitness Assessment and Mental Wellbeing Assessments will be falling away. 3) Earn more points with the Vitality Health Check The Vitality Health Check has been enhanced. It will now be made up of 5 measures (including blood pressure, blood glucose, cholesterol, a weight assessment and signing a non-smokers declaration), and you can earn up to 20 000 Vitality points depending on how many results are in range. During the course of 2017, at risk members will be able to have an HbA1c and/or a Lipogram test as part of the Vitality Health Check so that we can detect diabetes and cardiovascular disease early, and manage it effectively. 4) Updates to the Vitality Fitness Assessment The Vitality Fitness Assessment will become a more in-depth and tailored assessment, allowing for personalised feedback on your fitness and mobility.
Our new weight loss programme, Vitality Weight Loss Rewards, will be replacing the traditional Vitality Nutrition Consultation. This programme will incentivise members whose BMI and waist circumference are out of range to lose weight over a series of 12-week cycles. These members can earn up to 11 050 points per year.
Because we are focusing on evidence-based incentives, points for activities which have no or low correlation to health outcomes have been removed or reduced. This includes reducing points for certain kids’ assessments. Be sure to take your kids for all their vaccinations, and get them active too to earn more points. Remember, healthy kids become healthy adults. 7) Points for members over 60 Given that effective screening is critical for the early detection of, and intervention in, lifestyle-related conditions. From 2017, members over 60 will have the ability to earn up to 5 000 additional points for completing certain screenings and having certain vaccinations. 8) Managing Diabetes A new and specialised programme called DiabetesCare has been designed to provide well-coordinated care for people with diabetes. This will help you manage your condition, reduce the risk of complications, improve your health and prolong your life.
The introduction of Vitality Weight Loss Rewards and DiabetesCare will replace the existing Lose Weight and Manage Diabetes Personal Health Programmes that we have. Healthy Heart will also be falling away from 2017. If you are currently on a Personal Health Programme, you will receive information on your next steps. Daberistic Financial Services , will be taking part in the Financial Planning week programme during the week of the 5th - 9th September 2016. Please see below to get an understanding what the programme is about.
We will be doing different things during that week, we invite you and your family and friends to join us. Anyone is more than welcome to attend any of the sessions at no charge. To make a booking or for more information please contact Koketso Ncube on 011 658 1333 or email her on [email protected] Activities for the week Monday, 5 September 2016: BUSINESS STRUCTURING Our Certified Financial Planning ® professionals will be holding complimentary consultations with any business owners who require advice on the correct structuring of their business or partnership agreements. Place: 4 Basalt Place, Jukskei Park Time: Consultations between 10h00 and 16h30 Monday, 5 September 2016: RETIRE SUCCESSFULLY Kevin Yeh, Director and Certified Financial Planning ® professional, will be presenting to members of the Ekurhuleni Business Initiative on how to retire successfully Place: To be confirmed Time: 19:00 – 20:30 Tuesday, 6 September 2016: PRO BONO ADVICE DAY Our Certified Financial Planning ® professionals will be available to provide complimentary advice to residents of Jukskei Park and surrounding areas. Place: 4 Basalt Place, Jukskei Park Time: Consultations between 08h30 and 16h30 Wednesday, 7 September 2016: INVESTING 101 Kevin Yeh, Director and Certified Financial Planning ® professional, will be presenting to young professionals at the Infinity Business Park on how to go about investing successfully. Place: Infinity Business Park, Corner William Nicol and Pieter Wenning Road, Fourways Time: 18h00 – 19h30 Thursday, 8 September 2016: PRO BONO TAX ADVICE DAY Our Chartered Accountants at Daberistic Accountants & Auditors will offer complimentary tax returns advice to residents of Jukskei Park and surrounding areas. Place: 4 Basalt Place, Jukskei Park Time: Consultations between 08h30 and 16h30 Friday, 9 September 2016: FINANCIAL LITERACY COURSE Kevin Yeh, Director at Daberistic Financial Services, will be presenting a Financial Literacy Course to learners at Fourways High School. The course will focus on budgeting, saving, buying on credit and life-stage planning. About Financial Planning Week This is an ongoing effort by the Financial Planning Institute (FPI) to make financial planning a fundamental aspect of South Africans lives. It cannot be done in isolation, and although it is an ongoing objective, it is celebrated by the industry and other key role players during a week of dedicated and focused energy by all players.
![]() To business owners and self-employed professionals in South Africa - how you can increase your salary without paying more income tax Do you know that you may increase your salary by 38% without increasing your personal income tax? Yes that's right, increase your pay by 38% without paying more income tax every month. So if your current salary is R10,000 per month, you may ask your accountant to increase it by 38%, to R13,800 without paying more in tax. If your salary is R50,000 per month, you may ask your accountant to increase your salary to R69,000 per month without paying more in tax. If your salary is R100,000 per month, you may increase your salary to R138,000 per month without paying more in tax. Yes that's R38,000 more per month without paying more income tax! I could hear you ask me how do I achieve this? Is it through some kind of illegal scheme? No it's all legal, all above board. The secret lies in retirement annuity. Retirement annuity is a product in South Africa that helps you save for your retirement, with tax break. You can invest up to 27.5% of your taxable income into a retirement annuity and qualify for tax deductions. Speak to your financial advisor today to find out how you may benefit from this income tax optimization strategy. ![]() The 2016 FIA Awards gala dinner took on Thursday, 2 June 2016 at the Sandton Convention Centre, Johannesburg. More than 1000 individuals from the financial services sector gathered to congratulate the insurance, underwriting and investment brands that provide the best support to the country’s financial advisers and insurance brokers. The event serves as a reminder of the complex relationships that exist between advice givers and product suppliers as they join forces to deliver the best possible financial outcome to consumers. Although product suppliers walked away with the accolades on the night the Awards are a celebration of the value that financial advisers, insurance brokers and other financial advice professionals bring to the industry. 2016 FIA Awards winners Short Term Insurer of the Year – Personal Lines: Santam Short Term Insurer of the Year – Commercial: Hollard Short Term Insurer of the Year – Corporate: Hollard Underwriting Manager of the Year: CIA Long Term Insurer of the Year – Risk: Discovery Life Product Supplier of the Year – Investment Product Lump Sum: Allan Gray Product Supplier of the Year – Investment Product Savings: Allan Gray Product Supplier of the Year – Employee Benefits: Momentum Product Supplier of the Year – Healthcare: Discovery Health Product Supplier of the Year – Health Insurance: Stratum Benefits Click here to read more Source: Financial Intermediaries Association of Southern Africa |
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