Spring 2015


Dear Clients and Friends,

With the arrival of Spring, not only are Canadians welcoming the warmer weather, but also    some good news from both our Provincial and Federal Governments. Provincially the BC Government has decided to cover the cost of Sovaldi for the treatment of Hepatitis C and this is great news. The Ontario Government passed legislation to cover this back in February. This will be a big relief to Employee Benefits programs and Insurance companies alike.


The Federal Government introduced their latest budget last week and certainly the highlight of it was an increase to TFSA limits starting this year. Previously set at $5,500 per year, this now moves immediately to $10,000 for 2015.  More information on both of these Government changes are included in this current newsletter. We hope you enjoy the articles herein and wish you and your Family all the best for an enjoyable Spring! The Stanley Cup playoffs are upon us and there is probably no better time if you are a hockey fan.




Thomas O'Neill


PS: Our next Open House is Thursday, June 18th. We hope you can pop in and share a glass of wine with us! 

In This Issue
Featured Articles:

Our Company

Products & Services 

Sovaldi Now Covered in BC


Earlier last spring, the new specialty drug Sovaldi was approved for use in Canada.  Sovaldi is touted as the cure for Hepatitis C, with a success rate of over 97% of patients.  Most cases require just a 12 week treatment.  However, it comes at a very high cost, averaging $60,000 - $65,000 for most patients, and up to $125,000 for the genotype 3. 


While to date employee benefits programs have been absorbing the cost of these treatments, there has been great pressure on the provincial governments to step in and provide funding.  Fortunately, on March 23rd, the BC government announced that they will now provide coverage under the Special Authorization Program (read news release).  This is a great relief for insurers and employers who have struggled with the rising cost of employee health programs. 


Should you require the use of Sovaldi or any other specialty drug, please contact our office to discuss options for having part or all of the cost paid for by your provincial medical program.   


Client Spotlight: Canterbury Coffee
In 1981, Canterbury Coffee roasted its first batch of coffee in Richmond, BC, and began distributing 100% Arabica coffees to local coffee shops and restaurants. It was one of the first roasters in Canada to introduce organic and fair trade coffees to the public. Over the years, Canterbury has become one of Canada's largest roasters of premium coffees, known for their array of complementary products and one of the best service teams in the industry.

With the invention of single-serve coffee and the ever-increasing waste it creates, Canterbury sought to find a better solution - for consumers and the planet. By working with manufacturers of environmentally friendly materials, Canterbury introduced OneCoffee - a 99% biodegradable, organic and fair trade single-serve coffee. OneCoffee is changing the single-serve industry by offering sustainable packaging and coffee, without compromising great taste. It is available in seven full-bodied varietals at retailers across Canada, and is for use by owners of Keurig® coffee makers.
Oh No Taxes!
You work hard, pay down the mortgage, save for that vacation and regularly contribute to your RRSP or savings account. Each year by doing this, you continue to build your net worth without even noticing.


Or, maybe you're enjoying retirement having completed a successful 40 year career. The family home is paid for and there's an investment property being rented out. You are content knowing all you've worked for will pass intact to your heirs, to be enjoyed by them. But is this really the case?


Click here to continue reading.


Do You Have a Power of Attorney?

Appointing a Power of Attorney is a key part of sound financial and estate planning. Writing a will may be of key importance after you pass away, but appointing a Power of Attorney may be one of the most important steps to ensure sound planning while you are still alive.


When set-up properly, it can minimize family conflicts and ensure that your funds are used according to your wishes should you become incapacitated. While we all have many unchecked items on our to-do list, setting up a Power of Attorney can be a relatively straight forward and inexpensive process which will not only provide peace of mind, but also financial stability going forward.


If you are age 65 or older, or have parents in this age bracket the following article may be of interest. 

Thomas O'Neill & Associates Inc. | www.oneill-inc.com
Toll Free: 800.757.2799