During the reporting period, KASMA solicited and accepted membership applications from seniors and charged an annual membership fee. When a member died, KASMA paid towards burial expenses and deposited an additional amount in accordance with a Korean tradition for the benefit of the deceased’s family. In addition, KASMA provided burial assistance to nonmember seniors who had no surviving family members or left little money to cover funeral costs. KASMA covered these burial benefits by maintaining a reserve in its custodial account.
Tax Saving Investment should be done at the start of financial year and at end financial year without any long term planning as it may upset long-term health plans.
While buying a Health mutuelle senior Policies or while filing there are certain steps to be followed like the premium should be paid from the taxable income and from gifts received. If the premiums are paid in installments, deductions are calculated on the yearly amount paid. Premium paid by cash is not entitled for rebate.
It’s a common awareness that Health Insurance not only cover healthcare expenses during medical emergencies of an individual and family but it also Tax Saving Investment tool by allowing to avail tax rebate under section 80 (D).