(Entries are arranged earlier on top. Last update: August 20,2008)
July 9, 2008, Joseph Ku wrote:
There is a topic I would like to suggest that affects all of us at our advanced years, that of health care. Since we live at various countries, I would love to hear about your opinions regarding the health care systems of where you are. Perhaps I may move to Canada as a result ...Joseph Ku
July 17, 2008, Moses Wong wrote:
If you are a Canadian citizen or even a Landed Immigrant you are entitled to free medical services such as Doctor's visits and hospital stays and operations. And if you have reached the age of 65, you are also entitled to free medications prescribed by Doctors. Other benefits include Old Age Benefit, and in addition Guaranteed Income Supplements if you are a low income senior(i.e. below the poverty level). Working in Canada forces you to contribute to a government Pension called the Canadian Pension Plan(CPP). This Plan collects your money from your salary and invests for you until you reached the age of 60 to 70. From your savings the Plan will calculate a monthly payout to you if you choose to withdraw from it as early as 60 or as late as 70. The maximum payout now is about $800 per month plus or minus. If you also have a company pension, then you will have 3 sources of incomes every month, enough to get by on basic food and lodging. Overseas trips may be a hardship unless you have other savings to draw from.
Health care quality is excellent here and one normally does not have to budget for medical cares unless you need to have experimental drugs or treatments. Now comes the time when you need to be cared by someone other than your spouse or relatives such as home care nurses or in old folk homes; here the government has a host of benefits to subsidize such services and facilities. Some of the old folk homes(the newer ones) are very decent and comfortable (but of course there are also sub-standard ones).
In summary, the Canadian systems provides free universal medical cares and fairly generous supports to old folks on age-related services. Its a rather fair system - if one has no savings, the government will provide additional subsistence to allow you to live. If ones has additional incomes over the minimum level, the government will tax you back your pensions and benefits and make you live like other poor people. One cannot get away with wealth!!(unless you are in HK!)
July 17, 2008, Joseph Ku asks:
Would they extend this service to U.S. citizens living in Canada? or do I have to waittill I become Canadian citizen?
July 17, 2008, Moses Wong replied:
As far as a know, if one qualifies to enter and live and Canada as a Landed Immigrant (permanent resident), the medical and health care benefits apply almost right away (like after 3 months). The monetary benefits such as Old Age Benefit and GIS will only apply after at least 10 years (duration may have changed lately) of residence. You have to work here and contribute your savings to get the CPP.
July 17, 2008, Reginald Mak commented:
From what Moses said on Canadian medical benefits, it appears that foreign nationals are not entitled to them until they become permanent residents. It makes sense, otherwise anyone from out of the country (like those living in the U.S. near the Canadian border) could drive into Canada and demand free medical care, thereby overloading her healthcare system.
Years ago, I heard that Canadian residency could be obtained with cash investments. I don't know whether it is still true or not. The requirement was for only $250,000 back then. I'm sure it must be well over that mark by now. It may be worthwhile for anyone who is interested in migrating to Canada after retirement to check out the details, such as minimum investments required and what types of investments would qualify.
July 18, 2008, Joseph Ku commented:
Anyone with $250,000 to invest should probably stay where they are after retirement!
July 22, 2008 10:43:55 AM PDT Robert Yan wrote:
Hi Fellas,
.....As I've mentioned to Reginald, the easiest way to come to Canada & get all the social benefits immediately is to land here & declare you are a refugee.
Trust me, you'll be treated to a hotel for lodging, a health card designed just for you, generous pocket money all courtesy of Canadian tax payers like Moses & us. Meanwhile they'll book you a date for a Refugee Board hearing to see if you are genuinely a refugee. This date is usually 3-5 years in the future because there's already a long queue of refugee claimants ahead of you. You have 3-5 years to enjoy our generosity and if you're declined by the hearing, you can appeal. The appeal will take you another 2-3 years. In the end, if you're so unfortunate that a deportation order is issued on you, that means another ball game. You can appeal. All this while remember, you are still enjoying the benefits.
So my friend, bring your wife & dog, give it a try won't you.
Robert
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Wednesday, August 20, 2008 this from Reginald Mak:
Hi, Joe.
Revisiting an earlier topic on healthcare, you may find the following survey interesting but predictable.
If you take into consideration a large majority of American workers not so affected by skyrocketing medical costs because their employers pay most of their health insurance premiums, the situation is even more dire. A drastic reform in the healthcare system (including insurance and malpractice) is most certainly a top priority.
Reginald.
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Medical Bills Burden 72 Million Working-Age Adults in U.S.
By Aliza Marcus
Aug. 20 (Bloomberg) -- Medical bills were cited as a burden by 41 percent of working-age Americans in a survey, up from 34 percent two years earlier. An estimated 72 million adults under age 65 have difficulty paying their medical bills or are paying off debt from health- care expenses, based on the survey, taken last year and released today by the Commonwealth Fund, a health-policy center in New York. Sixty-one percent of those struggling said they had health insurance.
Health-care costs have been rising at about double the rate of inflation and faster than wages. That's making it increasingly difficult for those without insurance to pay their bills and for those with coverage to afford co-payments, deductibles and gaps in coverage, said Commonwealth Fund officials on a conference call yesterday with reporters.
"The survey showed that our health system is falling short of where it should be," said Karen Davis, Commonwealth's president, during the call. ``This highlights the need for the new administration to make health-care reform a priority.''
The survey of 3,501 adults was conducted from June 6 through October 24, 2007, and the results were compared with a similar study two years earlier.
Based on the newer survey, 28 million Americans used all their savings on medical expenses, 21 million built up substantial credit-card debt and 21 million couldn't pay for basics such as food, heat or rent.
"Working people are struggling to pay their bills and accruing medical debt," said Sara Collins, the fund's assistant vice president, in a statement.
The medical patchwork in the U.S. of private insurance backed up by limited government care leaves people vulnerable, Davis said.
Costs Internationally
In a 2005 international survey by the Commonwealth Fund, half of Americans said they had problems getting needed medical care because of cost, compared with a low of 13 percent in the U.K. and a high of 38 percent in New Zealand.
In the survey released today, adults at all income levels spent more of their income on out-of-pocket costs and premiums in 2007 than they did six years earlier, according to the biennial survey.
Twenty-five percent of people earning $60,000 or more reported difficulties with medical costs, compared with 20 percent in 2005. Fifty-three percent of people with incomes of less than $20,000 said they had problems, up from 43 percent.
To contact the reporter on this story: Aliza Marcus in Washington at amarcus8@bloomberg.net
Last Updated: August 20, 2008 06:00 EDT
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