Canadian Retirees Visa

[MPI_Mallard]

Anyone hear about the Canadian Retirees Visa lately?

[John___Angela]

Almot wrote:
There are snowbirds in Tx where it's cheaper than in Az, and in Az where it's cheaper than in Fl. And there are snowbirds in places where it's cheaper than in Tx, and warmer in winter too. My winter retreat costs $120 a month if rented by the year, water included, no electricity. No big deal in winter, it's warm. In summer I wouldn't stay there, too hot and humid.

If you want it cheap, you'll get it, though you might not like it. Cheaper places cost that little for a reason. It can be climate, or remoteness, or political instability, or something else.

I recall a TV documentary about great Costa Rica and their public healthcare last year. A guy from BC was bitten by snake when walking down the alley - not in a jungle somewhere. Local doctors ordered an X-ray and couldn't tell what it was. It was getting worse... and worse... and worse... On the 2nd or 3rd day he grabbed flight home, paying whatever price there was. By then he couldn't walk, vomited. Went to Vancouver General emergency straight from the airport, within a few hours was diagnosed and told that he needed a shot of antivenom IMMEDIATELY. The hospital didn't have it, but they flew it from Seattle same day. The guy lived. Had he stayed in Costa Rica, things could've been different.

Our experience (technically our friends) was quite good. You never know, there may be more to the story. Costa Rican health care system also covers dental and vision (glasses). Like any country there are good and bad things. I highly recommend visiting Costa Rica for a couple weeks. Lots to see and do and they have their own brand of Latino culture. There is less of a historical emphasis and more of a nature and environmental emphasis to tourism in Costa Rica so don't go expecting to see an abundance of perfectly preserved Hispanic cities like Mexico.

Cheers.

[Almot]

There are snowbirds in Tx where it's cheaper than in Az, and in Az where it's cheaper than in Fl. And there are snowbirds in places where it's cheaper than in Tx, and warmer in winter too. My winter retreat costs $120 a month if rented by the year, water included, no electricity. No big deal in winter, it's warm. In summer I wouldn't stay there, too hot and humid.

If you want it cheap, you'll get it, though you might not like it. Cheaper places cost that little for a reason. It can be climate, or remoteness, or political instability, or something else.

I recall a TV documentary about great Costa Rica and their public healthcare last year. A guy from BC was bitten by snake when walking down the alley - not in a jungle somewhere. Local doctors ordered an X-ray and couldn't tell what it was. It was getting worse... and worse... and worse... On the 2nd or 3rd day he grabbed flight home, paying whatever price there was. By then he couldn't walk, vomited. Went to Vancouver General emergency straight from the airport, within a few hours was diagnosed and told that he needed a shot of antivenom IMMEDIATELY. The hospital didn't have it, but they flew it from Seattle same day. The guy lived. Had he stayed in Costa Rica, things could've been different.

[moisheh]

pawatt: My error as I always think of AZ as THE snowbird location and there are many in Texas where things are cheaper.

Moisheh

[Almot]

Many, many people are living and snowbirding with combined CPP way less than 15K, and with nothing else but OAS and GIS. None of those is taxable, though GIS is reduced as your CPP goes up. Again, a lot of people out there with low CPP. Even if they have interest income, this is mere 1.5K or 2K from 100K in your savings account or GIC. For most people it still makes sense getting those 2K of interest rather than keeping it in safety deposit box, though there can be situations when it's better to keep a low profile.

About expat insurance or travel insurance. What people should realize is that - especially in places other than the US - there is no direct payment from insurer to the hospital. You have to pay up upon discharge and then get reimbursed by the insurer. So keeping a solid chunk of cash in easily accessible savings account is a necessity, and those bear very low interest. So you have money but no income other than CPP and OAS/GIS.

Another thing about insurance - very often it says in the small print "emergency medical". It means, they cover inpatient or outpatient treatment only if there is a risk to lose a limb or organ or life within 24 hours. So if you need a stent, but doctor says that it's not THAT urgent, the insurer won't pay a dime. Not all the plans are like this, but many are.

[netjam]

CPP for both of us is less than half the 22K. We started at age 60. Yes we worked for wages all our life. Your other assumptions are correct. We do not get the GIS(we still have some investment income) but know others who do, and have lots of $. There are other ways to have lots of $ and not get income from it....keep cash in a safety deposit box or under the mattress for example. We have no other pension than CPP and a small amount of investment income. I expect we will qualify for GIS in a few years.

[pawatt]

Many snowbirds in south Texas are paying $200.00 to $300.00 a month park rent and a few parks without swimming pools for less than $200.00. Cost of living here is very low and fruit & produce at giveaway prices. They save enough on heating costs to pay park rent & more.

[moisheh]

How does one have $$ that produce no taxable income?? Interest and investment income is taxable. Sounds to me like someone is scamming the system. That $22,000 includes all income: CPP and I think Social security. Netjam: Did you work your whole life? How could your CPP for you and the wife be less than $22,000. Even if it is around $15,000 the GIS is only a few dollars. 40 years ago snowbirds could live on very little. Park rental rates were cheap and included electricity. But today between the fuel to get south, park rent, electricity and health insurance $22,000 is not gong to do much when you still have to live in Canada the other 6 months. It takes about 350 gallons minimum to travel. That is around $1500. Park rent in a cheap spot is 5 times $500. So we are at $4000 US without electricity and food. Health insurance for 2 varies by age and condition but a good guess would be $1500.00 .

Moisheh

[joebedford]

netjam wrote:
Moisheh We know a number of folks with GIS that snowbird. They have lots of $ that produce no taxable income. In our case we have no pension except CPP which is far less than $22K

They must be putting their $ under the mattress.

[netjam]

Moisheh We know a number of folks with GIS that snowbird. They have lots of $ that produce no taxable income. In our case we have no pension except CPP which is far less than $22K

[moisheh]

Almot: Are you saying that you receive a GIS?? No traveler from Canada can afford to travel if there is income is so low they need the GIS. The threshold for the GIS is a combined income of $22,128.00. I would like to know how anyone could go south on that income? That is below the poverty line! Inquiring minds need to know!

Moisheh

[John___Angela]

Yepir. We were in Costa Rica with friends when he ended up needing two stints in his ticker. 35000 bucks later it was done. His particular expat insurance covered him for everything but the first 10,000. I think he and wife paid 11000 a year for the two of them for their expat policy. Expensive is relative to the budget but that would be on the upper end of our comfort zone for travel. They travelled for 5 or 6 years like that though. We'll cross that bridge when we come to it. I would think If one is going to spend years in a country like Costa Rica it best to just do the paperwork and sign on to the public system. Residency etc... Quite common there. Great country. We know some who just self insure. Eg, 100,000 in a back account ready to go if something happens. Something to think about when the time comes.

[Almot]

It's expensive to be Canadian expat anywhere, not only in the US. Without Medicare waiting for you the moment you return to home country, and without full SS pension (no GIS), it's already expensive. Americans can buy medevac plan for 200 bucks a year and fly back to Medicare when serious sh-t hits the fan, but we can't.

A first-class treatment in a third world country will still cost a first-class money, so your insurance would have to be substantial, and an affordable public hospital in a midsize town of Equador or Mexico is a lottery with questionable odds, you don't want to be there with anything serious.

The fact that Mexico is drivable from Canada, is more a psychological comfort than anything else. 6-7 days one way, and if compared to flying, the cost of gas, car wear, food and hotels is a break-even for 2 people and a sure loss for 1 person. We've just got used to driving and don't think.

[John___Angela]

Almot wrote:

John & Angela wrote:
I don't think the 8 month thing would do much for us. Although I can see spending 8 or 9 months on the road it wouldn't be all in the US. Lots of countries out there to see. I can see how some might be interested though, age group etc. It will be interesting to watch. I think health care costs could get nuts.

Health insurance, yes. You lose provincial plan after 7 months in a calendar year (subject to 2 years exemption once every 5 years). Then you will need a private plan for the US that doesn't require a valid provincial coverage, and for people over 65 those are either very expensive, or have very low coverage like 50K - a laughable amount for US hospitals. And you also need to pay for a private plan in-Canada when you return home and wait 3 months to re-activate the provincial plan.

You also lose your GIS pension after uninterrupted 6 months out of Canada.

Some people will probably benefit from this new "retiree visa", not sure how many.

Agreed. For many if you are going to go expat the US would not be the destination to do it in. Mexico, Chile, Ecuador, Spain, Greece, Italy Morocco, would all be better choices with affordable health care costs. Mexico is a driveable option , the rest you pretty much have to fly to. But there will always be a market for the classic Canadian snowbird in Florida or California or Arizona. It works well for certain age groups and at some point many have had enough of adventure and are ready to just take it easy. We still work 5 months of the year and enjoy 3 or 4 months of the year in SoCal. But the other three months we are on the road somewhere. This year we are doing two and a half months in Europe and a little in North Afrika. All the body parts are still working well and we figure we'll use them while we can. 🙂

[Almot]

John & Angela wrote:
I don't think the 8 month thing would do much for us. Although I can see spending 8 or 9 months on the road it wouldn't be all in the US. Lots of countries out there to see. I can see how some might be interested though, age group etc. It will be interesting to watch. I think health care costs could get nuts.

Health insurance, yes. You lose provincial plan after 7 months in a calendar year (subject to 2 years exemption once every 5 years). Then you will need a private plan for the US that doesn't require a valid provincial coverage, and for people over 65 those are either very expensive, or have very low coverage like 50K - a laughable amount for US hospitals. And you also need to pay for a private plan in-Canada when you return home and wait 3 months to re-activate the provincial plan.

You also lose your GIS pension after uninterrupted 6 months out of Canada.

Some people will probably benefit from this new "retiree visa", not sure how many.