spring 2009

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Long-term care financial assessment service


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The need for detailed financial information awareness in the community concerning the financial assessment process for individuals accessing the province’s long-term care programs is extremely important.

By Gerry Stowe, CMA

The need for detailed financial information awareness in the community concerning the financial assessment process for individuals accessing the province’s long-term care programs is extremely important.

With the provision of these services is the requirement for a financial assessment for single individuals or couples, to determine the amount of contribution required toward the cost of care for those in a long-term care facility or receiving home support services. It is the knowledge and understanding of this information that is critical to individuals requiring these services.

The consulting practice provides the following types of information regarding the financial assessment process for long-term care:

  • rates for long-term care services - nursing homes, personal care and community care homes, and home support services;

  • applicable legislation, financial policies and practices relating to married individuals or common law relationships, and single individuals;

  • assessment of assets - definition of assessed assets;

  • disposition of assets;

  • splitting of assets between spouses;

  • assessment of incomes - definition of assessed incomes;

  • costs allowed in the financial assessment process by the spouse living in the community;

  • income allowed to be transferred from the spouse in the long term care facility to support the costs of the spouse living in the community; and,

  • other information that may be applicable to the long term care sector.

Gerry Stowe, CMA, has 14 years experience with government providing long-term care financial assessment. While with the Department of Health, he worked in the areas of budgeting and costing for long-term care services and was involved in the development of policies related to the long-term care sector. He now operates his own consulting company on long-term care financial information and assessments. He can be reached at email or by calling (709) 364-7158.

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