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enriko
Joined: 05 Mar 2008
Posts: 67
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Post subject: Thanks |
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thanks so much for the post. I really enjoyed and i thought it was really helpful:)
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http://www.ezylet.co.uk/- Life of landlords and tenants made ezy! |
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patricia
Joined: 16 Jan 2008
Posts: 133
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| If a person is old enough to get their medicare is it safe to drop their health insurance plan? Os do they need to keep this expense even if it is a financial burden on them. |
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Caron
Moderator
Joined: 19 Jul 2005
Posts: 1519
Location: florida
281.04 Dollars($)
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Post subject: RE: drop down health insurance because of medicare? |
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No, I don't think it's a good decision. After all old age is when you need coverages that most health insurance policies offer. Also, Medicare does not offer all coverages for healthcare.
Good luck
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jbarto65
Joined: 04 Nov 2007
Posts: 622
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Post subject: |
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| Where would one find out what the medicare is going to offer to get a good plan in place before they get old and have to pay the higher rates because of age. |
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sara
Moderator
Joined: 05 Jul 2006
Posts: 2645
Location: New Brunswick, New Jersey
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patricia
Joined: 16 Jan 2008
Posts: 133
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Post subject: |
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| I was not aware that medicare was not that good as far as covegae goes. My mother always lived like a puper and that was all she had as health coverage and she seems to do fine with it or she never complain about it anyway. |
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adonis
Joined: 22 Oct 2005
Posts: 10250
Location: ALASKA
1043.57 Dollars($)
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yes there are limitations involved but I suppose every health insurance program has it.
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Procrastination is the enemy of your financial success |
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jbarto65
Joined: 04 Nov 2007
Posts: 622
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I have seen a few things that medicare does not pay, I had an elderly client that it would not pay for her lasix (a water pill). This was medication that was prescribed by the doctor, the problems that I have seen has always been in the prescription drug area of the plan.
Patricia,
Does your mother in law have a lot of prescriptions? There may be things that she has too pay that you are unaware of, or she may have invested in a good plan prior to getting elderly.
Does your husband follow the habits of your inlaws, if so you should be in good shape. Ask your mother inlaw what they have done to become so successful in their elderly age, she may give you some tips on what to do. If she does, please come share with us so that we know. |
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patricia
Joined: 16 Jan 2008
Posts: 133
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| Thats a good thought but my hubby is a spend thrift.As long as he has money he spends.Drives me nuts but I can't change him.Than when he is broke we all suffer for it.I see my old age as living as a bag lady. Here is what i do to save money when i go out. I take a cooler and a drink then go to McDonald's and get 2 buggers from the dollar menu and go outside in the car and eat them with my daughter.My hubby?Once he bought 28.00 worth of burgers from a restaurant ! My mother may have had to pay for some of her prescriptions. My mother in-law hardly ever like me goes to a doctor.She hardly ever takes medicine. They worked most of their lives and have used money wisely .Don't know where my hubby got his spend thirft way.I hate stingy men but this is to far in the other direction. He does have good intentions but that does not put food on the table. |
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help for my elderly
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Post subject: Grandparents |
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| How does a family pay for a nursing home when my grandparents never expected to live this long and they do not have long term care insurance? We don't have the means to come up with the astronomical fees. |
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| You're really in a tough situation. But your grandparents will have to pay the nursing home dues otherwise, the nursing home can place lien on your grandparents property. |
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gypsymama
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Post subject: Social Security is not enough for my sister |
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| I worry about my sister. SS isn't enough. Bad health, lots of RX and rising costs of everything leaves her about $1,000.00 in the whole each month. Do you know if there is someone that can help her with her budget or come and talk with her about what she can do? Owns mobile home, can't do reverse mortgage, has several refi's. If she sold her home, she would get nothing. I'm getting ready to leave country and I have helped her all I can. Her son is also worn out financially. Thanks for any ideas you may have. Pat |
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jenkin7
Joined: 04 Jun 2007
Posts: 4537
Location: Hawaii
728.43 Dollars($)
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Post subject: |
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Hi Pat,
It's good to know that you care so much about your sister. I do hope that she will be able to manage her finances more efficiently and effectively in near future.
A reverse mortgage could have been a good source of steady income for her in this situation. But with no equity in the home, getting a reverse mortgage will not be possible. If she needs someone to help her with her budget, she can look for credit and budget counseling services offered by non-profit organizations. There are various such non-profit organizations which offer help with budgeting to those who need a strict budget to manage finances properly. However, though many of these organizations claim to be non-profit, some of them do charge certain amount of fees.
Your sister can also take advantage of a free personal budgeting tool on this site. This might help your sister in managing her monthly income and expenditure more efficiently and prepare a budget accordingly. The personal budgeting tool can be downloaded from http://www.mortgagefit.com/spreadsheet/personal-budgeting.html |
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Frances DeVore
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Post subject: old age pension |
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| Is there an old age pension availab;e for low income seniors? |
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Jasmine
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Post subject: |
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| I don't think there is any separate old age pension available for the low income seniors. |
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