Many self-funded retirees are surprised to learn that they may qualify to receive a concession card upon ceasing work, despite not qualifying for any Government Age Pension or DVA payments.

Most Centrelink benefits require applicants to meet income and/assets tests before they can qualify for a benefit, and whilst the Commonwealth Seniors Health Care card is no different in that it has qualifying terms,  the requirements for qualifying are somewhat less stringent. The CSHC qualifying terms are based upon  meeting an ‘adjusted annual taxable income’ targets, details of which can be found on the Centrelink website.

There are proposals in place to change these qualifying terms somewhat, however as it currently stands many self-funded retirees will qualify for a concessional card which counts the following among its benefits:

• Pharmaceutical Benefit Scheme discounts
• Reduction in out-of-hospital medical expenses
• Concessional public transport
• Additional health and household discount

To learn more about this benefit, please feel free to contact our office on 03 9999 7200 and book an appointment with one of our financial advisers.