The Meeting Place

Grandfathered Benefits to a select group of retirees including the very wealthy

There is a group of very wealthy people  who have been given the Low Income Health Card. Many draw substantial sums from their superannuation each year, in excess of $200,000 per couple and  who have had this benefit 'grandfathered'. These means fewer dollars for the needy. This group, who as I mentioned receive very substantial drawings from superannuation, are given a Low income health care card with its attendant benefits. They receive funds quarterly from the Government to help them get by, do not pay Medicare Levy and receive a discount on energy costs. I am led to believe that as they have a low income health care card they will be considered as pensioners , should labour win the upcoming election and therefore receive the franking credits which will be denied to the rest of us. All this for a group who are very wealthy by any standard.

The Low Income Health Care Card and its broad range of benefits should be confined to the needy. It would be a simple matter to take into consideration all income and this would exclude the wealthy and leave more funds for those who need it. It seems to me it is just another example of a simple matter which is too difficult or sensitive for our political'leaders.

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Low income is just that.It is not asset tested as such.It is issued every 12months. If you survive on income from blue chip shares (dividends)and your income from those shares is less than $561 a week you qualify.Note this is low income card not a commonwealth seniors healthcare care issued to retirees receiving a pension.They use a deeming formula to work out what your shares should be earning.If you own your own home and car and don,t smoke you can live off it (single).

What Mick is referring to is that people with tax free pensions in Super which they started before 1 January 2015 have this income excluded or Granfathered when applying for the Low Income Card. They are not necessarily on a low income. I agree it’s not right and could be easily changed. However,  if you look at all the Granfathered rules, there are many anomalies which disadvantage new pension applicants. 

The system is not always fair and we have experienced bureaucratic jealousy as they made life impossible becuase we had qualified on income but it was decided we had some assets so targets.  Quite illegal but that's bureaucracy and government for you.  Little respect for the rules when they choose to manipulate them.

Low income is just that.It is not asset tested as such.It is issued every 12months. If you survive on income from blue chip shares (dividends)and your income from those shares is less than $561 a week you qualify.Note this is low income card not a commonwealth seniors healthcare care issued to retirees receiving a pension.They use a deeming formula to work out what your shares should be earning.If you own your own home and car and don,t smoke you can live off it (single).

Question: is it now every 12 months? When I had it for a while it was 6 months and I was told that it was a first because it had to be filled in every 3 months. 12 months is real progress if that is the case.

Yes, 12 months now but like Clampett said takes a loooong time to process.

It was 3 months Jim but tha was about 5 years ago.  The buggers went out of their way to make the process impossible with their long forms designed to make people go away.  In the end enough was enough and we did. 

Cowboy the card definately lasts for 12months

Only problem is it takes ages for centrelink to issue the card, it probably seems like 6months.

Every time i access my application thru mygov it tells me my application is still in the system and not to ringup!!!

Then oneday you will go to buy medications only to be told your card is invalid. grrr

If that happens get a receipt from the chemist (not a print out at the register) to be reimbursted by Centrelink /Medicare when your card finally arrives.

Frustrating to say the least, but worth it when you consider the benefits you get with a LIHCC.

 

 

Cowboy the card definately lasts for 12months

Only problem is it takes ages for centrelink to issue the card, it probably seems like 6months.

Every time i access my application thru mygov it tells me my application is still in the system and not to ringup!!!

Then oneday you will go to buy medications only to be told your card is invalid. grrr

If that happens get a receipt from the chemist (not a print out at the register) to be reimbursted by Centrelink /Medicare when your card finally arrives.

Frustrating to say the least, but worth it when you consider the benefits you get with a LIHCC.

 

 

Why are my posts being duplicated

Why are my posts being duplicated

Because you are not waiting for the post to go through before resubmitting your comments.  You know you have a chance to remove it for a short time?

Thanks Mick- I will wait a while and not look to see if the post went through.

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