|
Medical advances mean that diseases that caused death in the past now just cause disability. That's the good news. But living longer costs money.
Have you factored living longer into your retirement plans?
Many of us think the government will look after us in our old age. If you become chronically disabled or mentally impaired, your provincial government plan may cover only a portion of the care, assistance and
supervision you may need.
If you do qualify for a full government subsidy, you will have to abide by their terms and conditions – government nursing homes, government regulated home care and only the
benefits allowed within their parameters.
The subsidy level for nursing home care is reviewed annually. If your income exceeds this level, you would be eligible for only a partial subsidy, or you could
receive no subsidy at all on the cost of your accommodation.
|
