We’ve had a few clients ask about the new Hardship Waiver so we made a few calls to unravel the details around this new initiative. The program comes into effect from July 1^st and is designed to ensure that older citizens in a care home always have cash on a monthly basis – i.e. that the 70% of after tax income that they pay for Assisted Living (or 80% for Residential Care) does not exceed their monthly income.

All those who have been at an Assisted Living or Residential Care home for any period of time would have received instructions as to how the application process works. For newer residents, or those who missed the letter, it’s possible that they have slipped through the proverbial cracks. I contacted the Ministry of Health in Victoria and they were very helpful – if the following information doesn’t get you the specific answers you need, they recommend that you call them directly on 1 800 465-4911 and they will assist.

Their recommendation is that you need to find the local case worker in charge of the finances for Assisted Living cases. Try calling your Health Authority and asking for the Billing Area. Once they put you through, ask for the person who deals with Assisted Living as you have a question regarding the Hardship Waiver. That should get you to the person who can walk you through the process.

If you have questions regarding the government subsidies, and how much of your investment income is swallowed up by them, then click here.

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Putting a loved one into care is an incredibly emotional and stressful experience; This blog is linked to an article from someone who knows. They had to do make the decision on behalf of their mum when their dad was suffering with Parkinsons and dementia. In mum’s case they were lucky, she could still afford to stay in their home even when paying for dad to be in a special care home. As mum’s home was big enough to create a bedroom downstairs and they had a loo on the same level, eventually as dad’s illness progressed, they were able to bring him home for the last few months. However, not everyone is as lucky as they were. To find out what options are available to you and you can try to work out what the best thing to do, read the full story by clicking here.

The article was written in the UK and one of the areas that is not covered is “What should the money be invested in if we sell the house?”. The answer to this question can have a dramatic effect on the family finances in Canada. So many of the subsidies are means tested and investing in GIC’s and bonds often ends up costing money rather than generating much needed income. To find out more, contact us for a complimentary Income Protection Assessment – click here.

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Gary Davis, a former postal carrier from Surrey, was 68 years old when he developed severe bedsores and hospital-acquired infections, under the care of the Fraser Health Authority. He eventually had to have his legs amputated as a result. Click here for the full cbc story.

This is a shocking story – and the sad reality is that the only practical solution may be for families to look for private care if they become concerned that a relative is not being well looked after. It’s exceedingly important for older citizens to preserve their wealth using the government subsidies so that they are in the best financial shape possible to look after themselves if they need extra help. Contact us - we can help.

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Relatives want to share the wealth. Distant friends get in touch. Complete strangers offer ideas about how to spend your money. You have to think about locking doors and keeping your money safe. Here are some tips to protect you from becoming a victim of crime – direct from the RCMP. Click Here.

Another way that elderly Canadians “lose” money is by missing out on subsidies or paying too much for assisted living – if you’d like help woth these issues, click here.

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