over70 med card and about to come into some €

M

mrsmammy

Guest
Hi
Question on behalf of a relative. He's over 70 and has full medical card and has been made an offer of a substantial amount of money for part of his property, namely half of his garden. How will this affect his medical card entitlement with regards to the means testing? The figure he would be acquiring (after tax) would be about €160,000. Other than that he has no other savings, investments and only income is his state pension.
Thanks
 
Have a look at www.hse.ie. Last time I looked there was a calculator for savings in the Medical Card section. You can put in a ficticious name with your relative's details & see what it comes up with. If he has only his pension as income, then he will need to have a mountain of savings before he goes over the €700 per week guideline for over 70s.
 
Assuming he is single and has no other savings he would be assessed as follows
160,000 - 36,000 = 124,000 x 3% (approx) = 3720,
3720 divided by 52 to get weekly amount = 71.50

Add 71.50 to his current weekly income/pension and it appears he will be well within the income limits
Watch out for changes in the up coming budget
 
Thank you so much Tentman and Black Sheep for those replies -very helpful, cheers!
 
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