The Right health insurance can make all the difference in the world to you and your aging parent, freeing you both from worry and assuring your parent receives the best healthcare possible.  There are several options you should know about:

MEDICARE is a widely used, comprehensive federal health insurance program available to people 65 and older.  Part A coverage is premium free and covers inpatient hospital stays, home health care, hospice care, and inpatient care in skilled nursing facilities.  Part B Medicare has a premium attached to the coverage and allows access to services such as outpatient hospital care, doctors services, diagnostic testing, and many others.  For information on Medicare call the Medicare Hotline at 800-638-6833.

SUPPLEMENTAL INSURANCE is private insurance that helps pay any costs not covered under Medicare and includes HMOs, Medigap, and Long-Term Care.  Health Maintenance Organization(HMOs) negotiate price and coverage with healthcare providers and hospitals, and typically provides patient treatment with minimal deductibles, making them a relatively easy way to recieve health services.  HMOs operate as businesses and while some are very good, others have been known to deny coverage of doctor recommended treatments and put profits ahead of patient care.  Shop around before you or your parent joins an HMO.  Ask friends and relatives about their experiences with various HMOs, and be sure to compare the co-pays for:

*Hospitalization                   *Prescriptions

*Dental and Vision               *Care outside the Country

*Doctor visits

LONG TERM CARE INSURANCE is there for you when the unexpected illness or situation occurs and your parents' best option is to spend time in the care of a nursing home or Assisted Living Center, or long-term, at-home care.  One year in a nursing home can mean a shopping bill-sometimes up to $50,000.  When shopping for Long -Term Care, do your homework and be sure to consider the following:

1.  What are the premium costs?

2.  What, specifically, will the policy cover?  Nursing homes?  Home care ? Look for the most comprehensive plan available.

3.  What is the waiting period before coverage starts?

4.  What additional healthcare benefits are covered?

5.  Are there any optional benefits available, and if so at what cost?

6.  How many years will the policy pay?  The average stay in a nursing home is 3 years.

7.  Does the policy cover pre-existing conditions?

8.  Is the plan backed by an A+ rated insurance company?

9.  Does the policy cover 100% of actual expenses?

10.  Act quickly-for your parent and for yourself.  Locking in premiums at a younger age saves money, and your parent must be in good health to qualify.

*Suggested reading:  The complete guide to Long-Term Care Insurance, by Robert W. Davis

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