medicare - financial
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Summary of Medicare benefits, rights and protections, and answers to the most frequently asked questions about Medicare. (PDF, 136 pages)
If you're curious about how much care costs, this reference provides national and state averages.
This site offers details on Medicare coverage, plan options, and downloadable forms for claims and appeals.
Are you wondering if a medical expense is covered by Medicare? Use their calculator on medicare.gov to find out.
The Financial Dilemma
Though the stress of our dad’s illness was seriously impacting our mom’s life, she was still in good health and had (and still has!) many active years ahead of her. But we knew that if Dad survived, it would mean round-the-clock care in a nursing home or full-time in-home care. Our parents had no long-term care coverage for this type of expense. The medical costs, which were already overwhelming, would become staggering.
We needed to understand how far our parents’ resources would go and what our options were, both short-term and long-term. We consulted with a variety of people: an eldercare lawyer, our parents’ accountant, their financial planner, and their banker, to name but a few. We looked at the pros and cons of a reverse mortgage, and also we explored how Medicaid worked. And, because certain information was always asked of us, no matter where we looked for help, it became clear that you must be equipped with very specific data when making these inquiries.
We needed to understand how far our parents’ resources would go and what our options were, both short-term and long-term. We consulted with a variety of people: an eldercare lawyer, our parents’ accountant, their financial planner, and their banker, to name but a few. We looked at the pros and cons of a reverse mortgage, and also we explored how Medicaid worked. And, because certain information was always asked of us, no matter where we looked for help, it became clear that you must be equipped with very specific data when making these inquiries.
Make sure to pick a nursing home that is Medicare-certified
"Top Ten Things to Know If You're Interested in a Reverse Mortgage" by the U.S. Department of Housing and Urban Development
"How Will the Law Affect Medicare Advantage?" by The New York Times
"How Will the Law Affect Medicare Advantage?" by The New York Times
