Dáil Éireann Debate, Wednesday - 18 September 2013
1281. Deputy Michael McGrath asked the Minister for Health the current national interest rate applied to savings or similar investments for the purposes of calculating eligibility for a medical card for persons aged 70 years and over; if a person may opt to have their income assessed for eligibility based on the actual level of interest earned during the relevant period; and if he will make a statement on the matter. [36842/13]
View answerUnder the Health Service Executive’s (HSE) Medical Card/GP Visit Card National Assessment Guidelines, savings or similar investments up to the first €36,000 for a single person and up to the first €72,000 for a couple are disregarded in the assessment process for a medical card and only interest from savings or similar investments above these figures will be considered as income for means testing purposes. The relevant portion of savings and similar investments will be assessed on the income calculated at a notional interest rate, based on the prevailing interest rates at the time of application. The HSE Central Application Unit will review the notional rate on a quarterly basis. The notional rate currently being applied is 3%.
Alternatively, where the applicant wishes to have the actual interest from savings/investments considered, the HSE will apply this approach and will use the most beneficial option in favour of the applicant, subject to submission of the appropriate certificates from the relevant institutions. In the case of “longer term” investment accounts, where the interest is only applied at the end of a fixed period, if the applicant so wishes, the HSE will only take account of the interest earned on the date the investment matures.
Income will not be imputed from property (whether a family home, a holiday home or any other property) for means testing purposes, unless it is rented and only the net rental income will be included as income. The income to be assessed will be the gross income, less any cost necessarily incurred associated with the rental of the property and such cost may include insurance premia, loan/mortgage repayments, maintenance etc.
