The Cost of Caring
The decreasing eligibility and benefits of government programs such as medicare and medicaid are altering the economic conditions of our elderly for the worse. Medicare does not provide for assisted-living and long0term care, and medicaid does not kick in until the elder’s funds are nearly depleted. Overall, if we family members don’t plan for the financial responsibilities associated with aging relative’s care, our personal financial stability may suffer serious consequences.
The sooner family members understand that the cost of eldercare may eat into their own hard-earned money, the better their chances for long-term financial stability.
How to reduce your elder’s medical costs.
These suggestions apply to both you and your elder, help cut the high cost of health care:
- Eath, drink, and exercise wisely
- Manage medications
- Get regular medical, dental, and eye checkups
- Find a doctor who is willing to discuss minor ailments over the telephone, rather than requiring an office visit
- Avoid hospital emergency rooms for non emergencies
- Consider group health insurance
- Consider long-term care insurance
- Review health insurance policy for proper procedures before receiving treatment
- Discuss all costs with doctor
- Ask if tests in the doctor’s office can be performed without a full office visit charge.
- Bring copies of medical records to every doctor’s office visit
- Get routine tests done before checking into the hospital
- Avoid filling prescriptions at the expensive hospital pharmacy
- Check out the hospital before the check-out hour at hospital