Financial Concierge Blog Article
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AB Gov’t Coverage for Seniors Update & A Client Story

In case you missed it…

The Government of Alberta is changing the eligibility criteria for Coverage for Seniors. Effective March 1, 2020, family members younger than 65 will no longer be covered by Coverage for Seniors. Albertans 65 years of age and older will continue to be eligible for Coverage for Seniors. If you have questions, contact the AHCIP office. For further information on the Coverage for Seniors program please visit the Alberta Health website.

A Client Story

“Iris” is divorced and in her late 60’s with a chronic neurodegenerative disorder. She lives on a pension from her working years, owns her home and has no debt. Her son and daughter-in-law reside in the same city, are in their 40’s and both work full time. Despite giving her son $400,000 as an early inheritance, he has been back to borrow money. Her social worker contacted the local police authority when he refused to adhere to a re-payment schedule. A portion of the loan has been recovered and now neither son or daughter-in-law will communicate with her.

“Iris” is embarrassed, hurt and confused. She contacted Financial Concierge to be on her Care Team, as she calls us. We have been appointed as Agent for her Personal Directive; Enduring Power of Attorney and Executor. According to “Iris”, “I am overwhelmed by your support and how much stress this takes off me.”

Our client says, "I am overwhelmed by your support and how much stress this takes off me."

Financial abuse of older adults is the most common form of abuse representing 62.5% of reported cases. NOTE: Only 1 in 5 cases of abuse are reported.* [Source: Statistics Canada and the National Institute on Ageing.]

Stop the Abuse!

Do you suspect someone you know is being abused financially? Or are you personally being taken advantage of?

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