Government wants to scrap medical aid tax credits.
Analysis by economics consultancy Econex shows that this will make medical aid unaffordable for 1.9 million of the 8 million current members, forcing them into the state health system.
Medical aid members currently get a tax credit of R3636 a year — or R303 a month.
Members with a dependent pays R606 less tax each month.
The Money Shows’ Bruce Whitfield interviewed Econex Economist Dr Paula Armstrong.
Listen to the interview in the audio below (and/or scroll down for quotes from it).
The reasoning behind the tax credits is that medical aid members do not place a burden on the public health care system.— Dr Paula Armstrong, Econex
It’s highly unlikely that the level of care in an NHI system will be anywhere near acceptable.— Dr Paula Armstrong, Econex
It will be catastrophic for health and the economy.— Dr Paula Armstrong, Econex
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
Recommendedby THE NEWSROOM
The Money Show’s Bruce Whitfield interviews BOS Brands CEO Dave Evans.
The Money Show’s Bruce Whitfield interviews Michael Jordaan, cofounder of the app-driven, 45% black-owned Bank Zero.
Bruce Whitfield asks regular book reviewer Ian Mann to discuss “Reality is Broken” by visionary game designer Jane McGonigal.
Bruce Whitfield interviews La Grange about her and Madiba's attitude to money (hopes and fears, successes and failures, etc.)
The Asset Forfeiture Unit is gunning for the Guptas, says City Press. Bruce Whitfield interviews ENS Africa’s Steven Powell.
May the force be with you, and your money! The Money Show’s Bruce Whitfield interviews stockbroker Nicholas Kunze.
Ntimbwe Mpamba shares his life's journey of living with HIV. He is the longest living person with HIV in Africa.
The Labour Laws Amendment Bill seeks to regulate the right of parental leave for South African fathers and adoption leave.
The Dept of Health is looking to introduce draft legislation that includes a complete ban on all smoking in public areas.
The Clear Option's CEO, Quintin van Kerken, says the State has failed to make a convincing argument against legalising cannabis.
Dr Viwe Mtwesi spoke to Relebogile Mabotja about her achievements and commitment to serving people through her work.
Independent Marketing Consultant in the Technology Space, Andrew Fraser says this looks like a leak and not a hack.
Flux Trends founder Dion Chang gives five reasons why he believes getting a degree is past its sell by date.