Managing the costs of health care can sometimes be overwhelming. This is why programs like Medicare and Medicaid were put in place. However, you will sometimes find that a service that an elderly family member requires might only be partially covered, or worse, not covered at all. Having a private supplemental policy or a long term care insurance policy will be helpful, but the truth is that most people don’t have such things in place.
This can be particularly alarming for the elderly since this segment of the population has a higher risk of health problems. Add to this fact the fixed income that most face, and you have a very fine line that hundreds of thousands of people are walking. It’s not a pleasant situation, and many don’t even know how precarious their situation is until it’s too late. Advances in communications–most specifically, the internet–have helped to alleviate this.
One of the wonders of the internet is called crowdsourcing. It allows small groups of people to use the resources of many. It’s been most successful for unique fundraisers in the past, but it can be applied elsewhere, too, such as helping an individual cover medical costs. Thanks to social media sites like Facebook, Twitter, and Google+, if someone is in need of a medical procedure, a family member can outline the needs that are present, and people donate to the cause. It isn’t always successful, but there have been many instances–you can probably think of a few on your own–that this has helped people that otherwise would have suffered greatly.It has a lot of potential among elderly folks in need of care, but with a situation that for some reason, their health insurance will not cover. When the cost is unexpected, this can often be a godsend.
One other issue is the fact that family members are often left covering medical and care bills for their elderly parent or grandparent. If the resources are there and plentiful, this is great, but usually that is not the case. Paying for a nursing home out of pocket can be devastating to many families, but that’s what sometimes happens if the right health insurance is not in place. There are alternatives to nursing homes, but some people do find that this is a necessity for them. If it’s not, care is cheaper in other places, and often more appropriate. In-home care fits this category, for example. If you have care bills that you are tackling alone, this is a good alternative for most. Medicaid will often cover limited nursing home fees, if that is deemed necessary, but having fees paid retroactively is not a guarantee, unfortunately. The problem is that there’s no telling how long care will be needed. It’s usually necessary for the rest of your loved one’s life, and this is a cost that can grow quickly. If care can be found that is just as high quality or better, but at a more affordable price, then it’s worthy of consideration
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