medicaid http://www.wisebread.com/taxonomy/term/12295/all en-US Should You Become Your Parents' Caregiver? http://www.wisebread.com/should-you-become-your-parents-caregiver <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/should-you-become-your-parents-caregiver" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/talk-4229973-small.jpg" alt="father son talk" title="father son talk" class="imagecache imagecache-250w" width="250" height="161" /></a> </div> </div> </div> <p>As our parents age, more and more of us are becoming family caregivers &mdash; and often filling the role with little preparation or planning. Nobody wants to think about their parents being unable to care for themselves &mdash; so often, we simply don&rsquo;t. But this lack of planning can make caregiving decisions even more difficult, forcing you to make choices at an already stressful time &mdash; when care is needed immediately.</p> <p>Should you become your parents&rsquo; caregiver? That&rsquo;s a deeply personal and nuanced question that you can only answer for yourself &mdash; but this article addresses some of the factors you should consider.</p> <h2>What Does Your Parent Want?</h2> <p>If your parents don&rsquo;t need care yet, <i>now</i> is the time talk to them about it.</p> <p>Yes, it might be a difficult conversation &mdash; especially to start. In this <a href="http://www.marketwatch.com/story/caregiving-for-parents-what-it-can-cost-2013-02-12">caregiving article from MarketWatch</a>, Suzanna de Baca, vice president of wealth strategies at Ameriprise Financial, suggests, &ldquo;If it feels uncomfortable or confrontational to raise such topics out of the blue, adult children can use a story from the news or an anecdote about a friend to introduce the discussion.&rdquo;</p> <p>Ask your parents if they already have a plan or hopes for long-term care. If they don&rsquo;t, or if the plan isn&rsquo;t very specific, here are some questions that might help facilitate your discussion:</p> <ul> <li>What are your plans for retirement?</li> <li>Do you have a living will?</li> <li>Do you have long-term care insurance, or another financial plan in place in case you need care?</li> <li>What would you ideally like to happen if you need long-term care? Where would you like to live, and who would you like to care for you?</li> </ul> <p>Don't forget to chime in with your own wants, needs, and feelings, too. While becoming your parents' caregiver can be rewarding, it can also be a significant emotional, financial, and time burden. But by being open and honest about your needs and feelings, you can work with your parents to create a plan for care that benefits everyone.</p> <h2>Costs: Money and Time</h2> <p>Whether you care for your parents yourself, hire in-home care, or help your parents move into an assisted living facility, costs can be steep &mdash; both in terms of what you have to pay for care and money you lose by taking time off. According to the aforementioned MarketWatch article,&rdquo;Women who take time off or quit work to care for a loved one lose an average of $324,044 in lifetime wages, pension and Social Security benefits...for men, the average loss is $283,716.&rdquo;</p> <p>While this is no small amount of money, it can cost even more to place your parent into a care facility. To get an accurate idea of how much other types of long-term care might cost where you live, take a look at this cost of care map, which breaks down costs on a state-by-state basis:</p> <div align="center"><p><a href="https://www.genworth.com/corporate/about-genworth/industry-expertise/cost-of-care.html"><img width="420" height="350" align="middle" alt="Cost of Care Map" src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u921/cost_of_care.jpg" /></a></p></div><p>In some situations, it is possible for you to get paid to be your parents' caregiver. Money can come from the government, from your parents' funds, or in rare cases, by long-term care insurance. If your parents are on Medicaid, check to see if their state allows family members to be paid as caregivers (many states do). For other possibilities, such as being paid directly by your parents, it can be useful to speak to a financial planning professional.</p> <p>There are also other costs to consider. For example, if you move from full-time to part-time work in order to take care of your parents, you might not just lose part of your wages, you could also lose your health insurance and other benefits afforded to full-time employees. When making your caregiving decision, it can be helpful to create hypothetical budgets for a number of different scenarios &mdash; providing care yourself, hiring an in-home health aid, etc. &mdash; so you can easily compare and contrast the pros and cons of each.</p> <h2>Benefits of Caregiving</h2> <p>While caring for your parents can be both stressful and expensive, it can also be an incredibly rewarding experience. According to an <a href="http://www.cnn.com/2012/12/11/living/boomers-care-for-parents/index.html?iref=allsearch">article on caregiving from CNN</a>,</p> <p>Looking after a parent allows you to get to know them better. You are often able to spend more quality time together, talking and learning from one another. You can ask them the questions you've always wanted to ask, and hear stories of their life.</p> <p>And while you're providing them with support, it's also possible that they can provide you with support as well. Obviously, it will depend on their condition, but your parents might be able to help with childcare or household tasks.</p> <p>In the end, whether or not you care for your parents is a deeply personal decision &mdash; and one worth spending a lot of time thinking about.</p> <p><i>Do you currently care for your parents, or do you plan to? Why or why not?</i></p> <p><i>This article was made possible by the support and inspiration from&nbsp;<a href="http://www.genworth.com/" target="_blank">Genworth Financial</a>, a S&amp;P 500 insurance&nbsp;company with more than $100 billion in assets. Check out Genworth's website for a <a href="http://www1.genworth.com/content/lets_talk/united_states/english/planning_for_long.html">guide to planning for long term care</a></i><i>.</i></p><br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/meg-favreau">Meg Favreau</a> of <a href="http://www.wisebread.com/should-you-become-your-parents-caregiver">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-moves-that-guarantee-a-great-retirement">4 Moves That Guarantee a Great Retirement</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-retire-rich">How to Retire Rich</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/one-smart-thing-you-can-do-for-your-retirement-today">One Smart Thing You Can Do for Your Retirement Today</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/a-simple-guide-to-rolling-over-all-of-your-401ks-and-iras">A Simple Guide to Rolling Over All of Your 401Ks and IRAs</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/x-exciting-world-cities-you-can-afford-to-retire-in">4 Exciting World Cities You Can Afford to Retire In</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Retirement assisted living caregiving medicaid Tue, 28 May 2013 10:36:31 +0000 Meg Favreau 976223 at http://www.wisebread.com Paying for Pregnancy and Birth Without Health Insurance http://www.wisebread.com/paying-for-pregnancy-and-birth-without-health-insurance <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/paying-for-pregnancy-and-birth-without-health-insurance" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/pregnant-4841849-small.jpg" alt="pregnancy" title="pregnancy" class="imagecache imagecache-250w" width="250" height="167" /></a> </div> </div> </div> <p>Babies, whether planned or not, generally come into the world with wonder, delight, and a very high hospital bill. While it used to be that moms relied on their employer's health insurance (or that of their spouse's) to see them through with the expenses, the healthcare landscape is changing fast; no longer can you be guaranteed that baby will arrive while you're covered. (See also: <a href="http://www.wisebread.com/can-you-afford-to-have-a-baby" target="_blank">Can You Afford to Have a Baby?</a>)</p> <p>Before you worry that a sudden change in employment, a venture into entrepreneurship, or a sneaky health insurance clause will have you seeing big bills, check out this list of options for moms-to-be on a budget.</p> <h2>Presumptive Eligibility and Medicaid</h2> <p>While most doctors will ask to see your insurance card, many will not deny seeing you for prenatal care, especially if you are upfront and honest about your situation. If your doctor is a Medicaid provider, they can assist you in filling out the necessary forms to <a href="http://www.medicaid.gov/" target="_blank">apply for assistance</a>. Even if you don't qualify for traditional Medicaid coverage due to a higher income, many pregnant moms qualify for prenatal and post-delivery care via special state and federal programs aimed at ensuring babies are born healthy.</p> <p>&quot;Presumptive eligibility&quot; simply means that the provider chooses to provide you care even before you have completely filled out your application for assistance. They go off of the information you give them, as well as a positive pregnancy test. Once you've applied for, and been accepted to receive, health benefits, you can usually expect to see no interruption in your care routine. Most Medicaid programs will also pay bills related to your pregnancy for up to 90 days <em>prior</em> to your application. Keep your receipts.</p> <h2>Non-Profit Assistance</h2> <p>Many hospitals and health systems <a href="http://www.wisebread.com/5-places-to-check-out-medical-care-for-the-uninsured" target="_blank">have non-profit funds that they give to lower-income patients</a> who do not have adequate insurance and don't qualify for state or federal assistance. Usually, these funds are distributed on a sliding scale, but they can significantly cut down on your final bill and keep you from falling into medical bankruptcy or other scary situations. You should ask about any non-profit funds that may be available at the first visit when speaking with the financial counselor at your physician's office or health center.</p> <h2>Preexisting Coverage Plans</h2> <p>These plans are also administered through the government and act as bridge coverage for pregnant women until new coverage laws go into effect. To qualify, you must not have had coverage in the last six months, however. (It's important that, even while you are waiting to qualify, you don't skip doctor's appointments!)</p> <h2>Prepaid Plans</h2> <p>For moms who don't qualify for assistance or choose not to apply for it, there are discounted plans available for moms who can settle their bill prior to delivery. While there can be some surprises with any pregnancy (emergency c-sections, for example), most physicians have a standard schedule of care that they recommend, along with pricing tiers for the prenatal visits, tests, and final delivery. For moms who can pay a little at each visit, or even in full prior to be admitting to the hospital, there is usually a hefty discount &mdash; 25% or more in many cases.</p> <h2>Selective Diagnostics</h2> <p>No mom wants to skip out on essential services that can detect problems and provide a happier outcome for mom and baby, however, not all moms agree on what diagnostics are necessary.</p> <p>Many moms have chosen to opt out of extra screenings, ultrasounds, or blood tests that are more informative than preventative (genetic screenings, for example). This is a very personal decision that should be made with the full understanding of what you are giving up, but it can prevent you from being charged thousands of dollars for screenings that you didn't want or need, anyway. Just be sure to discuss all extra tests with your doctor before the visit they are scheduled for. Many nurses follow a standard procedure for care and may assume you want the tests. If you are opting out of any diagnostics, ask what samples will be used for and ask to sign off on any lab work that you feel may be out of your comfort zone.</p> <h2>Midwifery</h2> <p>This increasingly popular form of prenatal care is gaining respect in the health community, especially among those with limited health coverage. While the cost can vary wildly between geographic areas, most midwives that come to your home for health care can save you 50% or more on the cost of your prenatal care. Add to that the discount received by delivering at home or in a birthing center (<a href="http://www.wisebread.com/the-pros-and-cons-of-retail-health-clinics" target="_blank">rather than a traditional hospital</a>), and many happy moms have reported total bills of no more than $3-4,000 (compared to the $5-12,000 of a doctor-assisted birth).</p> <p>This choice will be more suitable for those who prefer a natural birth and live close to a hospital (in case of a life-threatening emergency), but many moms have enjoyed the perks of using a midwife while paying for the services in full at the delivery.</p> <h2>Health Care Is Changing</h2> <p>Health insurance is changing all the time, especially in light of the recently passed health care legislation. Regardless of any upcoming developments, however, there are a couple of things you can do <em>before</em> you get pregnant to ensure that you aren't scrambling for coverage at the last minute.</p> <p><strong>Don't Assume That Your Health Insurance Covers Maternity</strong></p> <p>Many self-employed and individual plans do not cover maternity care, and those that do may require a separate rider to be purchased. Additionally, those that cover maternity care may only pay for services that are considered &quot;emergency&quot; and will not cover basic prenatal care and standard delivery fees.</p> <p><strong>Don't Delay the Paperwork</strong></p> <p>If you plan on becoming pregnant and are eligible for open enrollment at your work, check and double-check that everything gets filled out and turned in on time. Likewise, <a href="http://www.wisebread.com/going-to-be-a-mommy-know-your-rights">many employer plans require</a> that you enroll the newborn on the company plan within 30 days of birth, or the child will not receive coverage (and your prenatal and delivery claims may be denied.) Be diligent and never assume that your work has &quot;taken care of it.&quot;</p> <p><em>How did you pay (or are you planning to pay) for pregnancy related health care costs?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/linsey-knerl">Linsey Knerl</a> of <a href="http://www.wisebread.com/paying-for-pregnancy-and-birth-without-health-insurance">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-3"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/generic-drug-price-lists-for-six-major-pharmacies">Generic Drug Price Lists For Six Major Pharmacies - Updated</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/going-without-health-insurance-in-2015-heres-what-itll-cost-you">Going Without Health Insurance in 2015? Here&#039;s What It&#039;ll Cost You</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-ways-to-spend-your-last-minute-health-care-fsa-funds">8 Ways to Spend Your Last-Minute Health Care FSA Funds</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-about-a-price-list-at-the-hospital-or-doctor-s-office">How About a Price List at the Hospital or Doctor’s Office?</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/health-insurance-two-other-numbers-to-look-at">Health insurance: Two other numbers to look at</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Health and Beauty Insurance baby health insurance medicaid midwife pregnancy pregnant without insurance Mon, 22 Apr 2013 09:48:31 +0000 Linsey Knerl 973518 at http://www.wisebread.com Generic Drug Price Lists For Six Major Pharmacies - Updated http://www.wisebread.com/generic-drug-price-lists-for-six-major-pharmacies <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/generic-drug-price-lists-for-six-major-pharmacies" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/2211013618_23de659d1b.jpg" alt="pharmacy" title="pharmacy" class="imagecache imagecache-250w" width="250" height="188" /></a> </div> </div> </div> <p>I recently weaned myself completely off a medication. It was not because I wanted to, but rather my insurance changed and the new cost of the drug was way out of my budget. So I quit it. And my symptoms returned. It was at that point that I decided to research generic options for the drug.</p> <p>As it turns out, there was no exact generic equivalent, but a quick chat with my doctor revealed several options that would have the exact same effect, and these were available as generics. When I went to pick up my prescription, I was shocked at the price &mdash; it was 12 times cheaper than the original medication! And yes, it is working just the same (in fact, it's better...this one has less side effects than the name-brand drug).</p> <p>Now there are many articles pointing out that generic versions of drugs are not quite the same. I did ask my doctor about that, and he did indeed say that some generics are just not as good. The different formulation of the drug can make a difference to the way the body absorbs and processes the drug, and some have slightly different side effects. BUT, most are just as good as their name-brand, and very pricey, counterpart.</p> <p>Now, knowing this I figured the generics would be the same price wherever you go, but that's not the case. Every pharmacy out there has their own generic price list program, and where you pick up your drugs could make a big difference in the final price. Some lists have different drugs on them than others, and some pharmacies will ask for additional fees to get the low price for the generics, so SHOP AROUND. Why pay more for a drug than you have to?</p> <p>Here then, in no particular order, are the price lists of the six major pharmacies in the US. (I apologize if your pharmacy is not covered here, but do a quick search on Google and you should find a price list in seconds).</p> <p>Each link will take you to a printable price list for that pharmacy. Some prices vary by state.</p> <p><a href="http://i.walmart.com/i/if/hmp/fusion/genericdruglist.pdf"><strong>WALMART </strong>GENERIC&nbsp;DRUGS&nbsp;PRICE&nbsp;LIST</a><br /> 30-day supply - $4. <br /> 90-day supply - $10<br /> Membership required? NO</p> <p><a href="http://www.rxassist.org/providers/documents/TargetGenericsProgramDrugList.pdf"><strong>TARGET </strong>GENERIC&nbsp;DRUGS&nbsp;PRICE&nbsp;LIST</a><br /> 30-day supply - $4. <br /> 90-day supply - $10<br /> Membership required? NO</p> <p><a href="https://webapp.walgreens.com/MYWCARDWeb/pdf/Value-PricedGenericsList.pdf"><strong>WALGREENS </strong>GENERIC&nbsp;DRUGS&nbsp;PRICE&nbsp;LIST</a><br /> 30-day supply - $9.99. <br /> 90-day supply - $12.99<br /> Membership required? YES&nbsp;($20/year individual, $35/year family)</p> <p><a href="http://www.riteaid.com/www.riteaid.com/w-content/images/pharmacy/RxSavings_Directory.pdf"><strong>RITE-AID </strong>GENERIC&nbsp;DRUGS&nbsp;PRICE&nbsp;LIST</a><br /> 30-day supply - $8.99. <br /> 90-day supply - $15.99<br /> Membership required? NO</p> <p><a href="http://www.xenia.k12.oh.us/forms/Kroger%20$4%20list.pdf"><strong>KROGER </strong>GENERIC&nbsp;DRUGS&nbsp;PRICE&nbsp;LIST</a><br /> 30-day supply - $4. <br /> 90-day supply - $10<br /> Membership required? NO</p> <p><a href="http://www.cvs.com/CVSApp/images/promotions/landingpages/rx/rx08037_health_sav_pass/health_savings_pass_medicationlist.pdf"><strong>CVS </strong>GENERIC&nbsp;DRUGS&nbsp;PRICE&nbsp;LIST</a><br /> 30-day supply - N/A<br /> 90-day supply - $9.99<br /> Membership required? YES ($10/year per person)</p> <p>Remember, if your pharmacy isn't listed here, that doesn't mean they don't offer low-priced generics. Do a web search or ask your local pharmacist. And don't be afraid to get different prescriptions filled at different pharmacies.<em> UPDATE. As some readers have pointed out, there are possible issues that can arise from using different pharmacies for your prescriptions, BUT this doesn't have to be unsafe. As long as you take a list of all the medications you are taking with you to each pharmacy, they can see if there will be any interactions. This advice came from several oline sources and magazines, including Good Housekeeping and WebMD. </em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/paul-michael">Paul Michael</a> of <a href="http://www.wisebread.com/generic-drug-price-lists-for-six-major-pharmacies">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/paying-for-pregnancy-and-birth-without-health-insurance">Paying for Pregnancy and Birth Without Health Insurance</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/score-free-medical-supplies-with-flex-spending">Medical Supplies You Can Still Score With Flex Spending</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-ways-to-spend-your-last-minute-health-care-fsa-funds">8 Ways to Spend Your Last-Minute Health Care FSA Funds</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/going-without-health-insurance-in-2015-heres-what-itll-cost-you">Going Without Health Insurance in 2015? Here&#039;s What It&#039;ll Cost You</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/health-insurance-two-other-numbers-to-look-at">Health insurance: Two other numbers to look at</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Health and Beauty Insurance drugs drugstore health insurance medicaid prescription savings Mon, 05 Jul 2010 14:00:04 +0000 Paul Michael 162236 at http://www.wisebread.com