Which of the following accurately refers to the purpose of the GIS?

The Guaranteed Income Supplement (GIS) serves the primary purpose of providing financial assistance to low-income seniors. This program is designed to ensure that eligible seniors receive a basic level of income to support their living expenses, recognizing that many older adults may have limited financial resources. The GIS is targeted specifically at those whose income falls below a certain threshold, thus supplementing their income from other sources such as Old Age Security (OAS).

This support is vital in helping maintain a dignified standard of living for seniors who may not have sufficient savings or pensions. By focusing on low-income individuals, the GIS addresses issues of poverty and financial insecurity among the elder population. The other options provided do not align with the primary goal of the GIS; it is not aimed at high-income seniors, does not specifically encourage savings among younger adults, nor is it intended solely for medical expenses. Instead, its focus is on income supplementation for those in financial need.