Items related to Saving Mom & Dad...and You 2004 Edition
Synopsis
Medi, Medi, Medi, Medi
Understanding health care programs for programs for parents requires knowledge of Medicare, Medigap, Medicaid and Medi-Cal.
Medicare becomes a senior’s primary health insurance when he or she turns age 65.
Medigap insurance is purchased to pay expenses not covered by Medicare. Some seniors join a senior HMO for costs not covered by Medicare.
Medicaid and Medi-Cal are names for government programs that provide financial assistance for medical care. These are means-tested assistance programs funded jointly with federal and state monies. California labels its assistance program Medi-Cal; other states call their programs Medicaid.
Many families hear that Medicare pays for 100 days of skilled nursing care. This is misleading as most patients receive only 20 to 40 days of Medicare coverage before they are reclassified as custodial care and Medicare coverage stops.
Many families panic when they are told their loved one is being ‘discharged.’ They picture their family member being wheeled out to the sidewalk in a wheelchair or gurney. In such situations, ‘discharged’ means that Medicare will no longer pay for skilled nursing care.
Family members then face three choices: Take the patient home; pay privately at exorbitant rates for continued care in a facility; qualify for government financial assistance (Medicaid or Medi-Cal).
Saving Mom & Dad provides detailed instructions and Put it in a Box℠ schematics to show families how to qualify for California’s Medi-Cal long-term care program.
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About the Author
Robert J Cullen, CFP(r) is a writer, speaker and consultant with a gift for making complex issues understandable. He is the President of Retirement Planning & Management Group, a full-range financial planning firm with special focus on elderly clients and their families.
His work, coupled with his experience as a reporter and financial journalist, propelled him to become an expert on California's Medi-Cal system and the financial needs of seniors, baby boomers and concerned offspring of elderly parents. In the process, he developed a new paradigm for understanding Medi-Cal eligibility rules and became a sought-after consultant on Medi-Cal to seniors and financial and legal advisors.
Bob gained national prominence through articles in the Los Angeles Times, Medical Economics, Financial Planning and other publications. He maintains a busy financial planning and consulting practice in Upland, California.
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Saving Mom & Dad.and You 2004 Edition
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