I used to do financial assessments for people on the waiting list for long term care...in my province, people are charged for LTC based on their income. If you are on GIS as a senior, you are charged the least amount. That amount goes up if you have a higher income. It works out to about 80% of your income.

Where it gets interesting is your assets...some provinces do NOT look at your assets when calculating your LTC fees. For example, you could own a million dollar piece of property and be charged no more than someone with $1000 in the bank. In Saskatchewan, they calculate the worth of your assets and determine fees from there. In BC, they don't look at assets (YET!). But I can guarantee that in the coming years, all provinces will shift to calculating assets when determining LTC fees.