prescription medication Archives - Ira SmithTrustee & Receiver Inc.

Saving money Toronto: Introduction

I can see some of you scratching your heads right now. You are wondering how in the world following your doctor’s orders can save you money; but it really can saving money Toronto. Even in Canada where we have Universal Healthcare, it does not cover 100% of all prescription medication. This unfortunately can lead to non-compliance which can be very costly and even deadly.

Saving money Toronto: Don’t put yourself at risk

“People put themselves at risk,” warns LIUNA General Secretary Treasurer and LHSFNA Labor Co-Chairman Armand E. Sabitoni, “when they are prescribed a medication that they choose not to take, do not take as directed, do not finish or just plain forget to take at all.”. Three out of every four Americans do not take their medication as directed. Every year in the United States and Canada, it leads to thousands of deaths and billions of dollars unnecessarily spent on health care.

Saving money Toronto: Why aren’t we taking our medications as prescribed?

Cost: Even in Canada, coverage by our Universal Healthcare for the costs of prescription drugs is not always 100%. Some medications can be extremely expensive.

Quick response to treatment: After a few days on the medication, the patient feels great and stops taking the medicine instead of completing the course of treatment.

Side effects: The patient feels worse from the side effects than from the illness.

Saving money Toronto: Why should you always take your medication as directed?

“These choices are counterproductive,” Sabitoni stresses. “Taking medication as directed saves you money, keeps you healthier and helps you live a longer life. Never cut corners with your medicines. That’s one of the most important decisions you will ever make.” Following doctor’s orders will keep you healthy and save you money!

Saving money Toronto: What if you can’t afford to follow your Doctor’s orders?

If you’re not taking your medication because the cost causes you more pain than your illness, you need professional help and you need it now! Ira Smith Trustee & Receiver Inc. understands financial pain and can help you solve your financial problems and get you back on track to debt free living Starting Over, Starting Now. Call the Ira Smith Team today so that we can end your pain and you won’t have to worry about paying for prescription medication again. Don’t delay. Give us a call today!

saving money toronto

retirement in canada how much do i need

Retirement in Canada how much do I need: Introduction

When we think of things becoming more expensive, we naturally think of consumer goods. As a rule we don’t pay attention to the cost of retirement, even though it’s been getting more expensive for Canadians for quite some time. And, interestingly enough, the cost of living is not a significant factor. But there are four main factors which will answer the question “Retirement in Canada how much do I need?”.

Retirement in Canada how much do I need: Our 4 reasons why retirement is becoming more expensive for Canadians?

Increased life expectancy: Canadians’ life expectancy will increase by three years, placing many of us in the 90-plus age bracket. The Chief Actuary with the Office of the Superintendent of Financial Institutions Canada told this to a Florida symposium. “Over the next half century, Canadian life expectancy at age 65 will increase by 3 years to reach 25 years,” said Jean-Claude Ménard, Chief Actuary with OSFI. “It means that half of Canadian retirees expect to live past age 90. Retirement is expensive and will become even more expensive in the future with improved longevity.”

The cost of retirement homes: The average price for a small seniors’ retirement apartment in the Toronto area is close to $5,000 a month. This is according to a report published by the Toronto Star. Although most seniors would prefer to stay in their own homes, physical limitations often dictate the move to a retirement facility.

The Defined Benefit Pension Plan will disappear: Defined benefit pension plans have disappeared from the landscape. This is because of their cost and that they can be risky for employers if investments do poorly.

The cost of prescription medication and paramedical services: Although our Canadian universal healthcare system covers us for almost all medical expenses, there are prescription drugs that are not covered and can be very costly. So for middle-aged Canadians and some retirees, this is an issue. In addition, our healthcare system doesn’t cover much in the way of paramedical expenses.

So, if you need ongoing physiotherapy, see a chiropractor or an acupuncturist, you will be paying out-of-pocket.

Retirement in Canada how much do I need: What if you have too much debt to retire?

When planning for your retirement, it’s important to realize that retirement is becoming more expensive for Canadians and will continue to rise. It’s important to get your financial house in order as early as possible.

If you’re having difficulties dealing with debt, now is the time for professional help. Ira Smith Trustee & Receiver Inc. has helped many people throughout the Greater Toronto Area (GTA) facing financial crisis or bankruptcy that need a plan for Starting Over, Starting Now. Give us a call today.