How is an arf treated in respect of medical card for over 70s

[asdfg]

I have an arf from which I draw down a monthly income which along with the oap will still leave me under the limits for a medical card. I have no other savings or investments
My question is
is the balance of the arf treated as an investment and therefore calculated as means

 

[Protocol]

The over 70s GMS means tests is based on income, not wealth.

So annual ARF income is included.

The ARF fund value is not.

 

[Conan]

The over 70s GMS means tests is based on income, not wealth.

So annual ARF income is included.

The ARF fund value is not.

Not true. Savings and investments (not including family home) is taken into account as part of the means-test. An
amount of income is attributed to such capital (see Citizens Information website). However I'm not sure specifically how ARFs are treated, but I suspect its included as part of capital.

 

[Protocol]

Jaysus, sorry.

I'm thinking of my parents, and I don't recall their assets being checked................


They qualified with 50k income and approx 500k financial assets.


I see the form, and yes, correct, applicants must list their assets.

However, no info on how the income from assets is derived.

 

[Protocol]

Medical card for over 70s

If you are 70 or over you may qualify for a medical card based on your income.

www2.hse.ie

Here is the form:

https://www2.hse.ie/file-library/medical-cards/over-70s-medical-card-application-form-english.pdf

 

[Conan]

The application form has a section which asks about savings and investments.

 

[NoRegretsCoyote]

This isn't 100% for me. The website says:

Savings and similar investments

Savings and similar investments of €36,000 for a single person and €72,000 for a couple are disregarded. A notional rate of interest is applied by the HSE to the balance. Alternatively, the HSE will apply the actual rate if you provide a certificate of interest paid on savings in the last full calendar year.

The form says:

investments in stocks, shares or savings with banks or building societies or other financial institutions

To me this kind of sounds like cash savings or discretionary investments, not an ARF. Although "stocks, shares, and savings" can cover a lot. What about an ARF in the form of bonds. Is a bond a "saving"?

Legislation also says "savings and investments".