Health Insurance Fair Deal Financial assessment

[learnwell]

In making this assessment financial assets (savings ect) are considered. Any assets such as cash given away during the previous 5 years are made part of the assessment as if still the
property of the applicant. I am trying to find out if gifts of 3000 which qualify as not incurring
a tax liability (small gift exemptions) which the applicant may have made in the previous 5 year
period are also included in the Fair Deal assessment.

 

[Slim]

The scheme considers any income that the applicant may have deprived themselves of in the past 5 years, so it is possible that the HSE may calculate the possible income on the capital that has been transferred in the previous 5 years. At current rates, that would not amount to much unless the capital disposed of was quite substantial.

 

[learnwell]

The scheme considers any income that the applicant may have deprived themselves of in the past 5 years, so it is possible that the HSE may calculate the possible income on the capital that has been transferred in the previous 5 years. At current rates, that would not amount to much unless the capital disposed of was quite substantial.

I think that they are interested in the assets per se, not the possible income on the assets. The applicant will have to contribute 7.5% of value of cash and other assets
per year. 36000 or 72000 (in case of a couple) will be waived, and the value of the family home will only be included for 3 years.

 

[Slim]

Just an update. Checked this and the HSE will not be interested in bank statements more than 6 months previous unless they are suspicious or something is declared to them.

 

[twofor1]

HSE will not be interested in bank statements more than 6 months previous unless they are suspicious or something is declared to them.

It’s not clear, are you suggesting one should not declare ? Apologies if I took this up wrong.

The application form on page 5 Part 4A - Details of Cash Assets, the question is clearly asked; Total cash assets transferred to another person in the last 5 years……………………………………

At the bottom of page 6, it clearly outlines the consequences of knowingly giving false or misleading information.

http://www.hse.ie/eng/services/list/4/olderpeople/nhss/AppForm.pdf

Just because one will probably get away with it does not mean it is acceptable or the right thing to do.

As we all know our health service is seriously cash strapped, would this type of dishonesty not mean there is less in the pot for those that really need it ?

 

[Slim]

It’s not clear, are you suggesting one should not declare ? Apologies if I took this up wrong.

As we all know our health service is seriously cash strapped, would this type of dishonesty not mean there is less in the pot for those that really need it ?

No, just stating it as it is. Everyone should declare honestly and fully as required to on the form. I have not seen the form in some time.

 

[learnwell]

The application form on page 5 Part 4A - Details of Cash Assets, the question is clearly asked; Total cash assets transferred to another person in the last 5 years……………………………………

That appears to answer my original question---"total cash assets" would appear to include what the Revenue regard as small tax exempt gifts, ie €3000 or less.