When It's Time To Care For Aging Parents

Michael T. Braden, August 28, 2024 CARING FOR AGING PARENTS

Picture of Mother and Son Holding Hands with the caption "When It's Time To Care For Aging Parents" Poster

HELPING LOVED ONES AND FAMILY MEMBERS WITH THEIR MEDICARE

Often, as we get older, we are not fully aware of what shape our parents are in. We have been busy with our lives, and honestly, most people are not aware of the changes their parents are constantly grappling with. There comes a time when we need to care for them, in the same loving manner they cared for us growing up. Providing Care for aging parents and other family members is what this article is all about.

How to care for aging parents and help them understand Medicare. There is a lot of information, and your interest and involvement mean a lot to your parents. It will also help you understand how Medicare works, which will be helpful in the future.

HOW YOU CAN PROVIDE CARE FOR AGING PARENTS, AUNT, UNCLE, GRANDPARENT(S) WITH THEIR MEDICARE OPTIONS

For many people, the worst part of retirement is in the beginning, starting about 3 months after they turn 64, when their mailbox begins filling up weekly with advertisements from anyone and everyone associated with Medicare and especially Medicare Advantage plans. During this time, most consumers are amazed and a little confused by the concept of Medicare, and many have no idea where to turn to start their research on the subject of Medicare. Most of our clients report that the entire process is confusing and overwhelming.

For this reason, we at Braden Medicare advise everyone to call 2-3 local Medicare Brokers and get to know them. Ask questions and decide who you believe you might enjoy working with. Brokers never charge for their services and are equipped and licensed to sell both Medicare Supplement and Medicare Advantage plans. They truly are a one-stop shop for all things Medicare.

Another suggestion we always make is to ask each potential client if they have a Son, Daughter, Niece, or Nephew who might assist them in their search. At some point, every Medicare Beneficiary should have a relative who understands the process and who is also familiar with the plan you choose. You may not think it is essential at the time, but having a well-versed Medicare expert who understands your plan is invaluable. They can help with research and are often the ones to inform caregivers about your plan, your doctors, and your future care wishes.

HOW TO CARE FOR AGING PARENTS

IF YOUR RELATIVES ALREADY HAVE A MEDICARE PLAN AND WANT TO SHARE THAT INFORMATION WITH A FAMILY MEMBER, TRY THESE STEPS TO HELP GET YOU STARTED:

1. The first step is to determine which Medicare Plan they have. There are three ways you can do this. First, ask them to show you the Medicare card they use when they see a doctor. If it is the red, white, and blue card with their Medicare number and the start dates for Parts A & B, they have Original Medicare. If they show you a card from an insurance company with HMO or PPO designations, it is a Medicare Advantage Plan.

2. Second, they should have a free mymedicare.gov account that provides a history of their medical care and prescriptions. It will also show which insurance they are using. If they have never set this up on the www.medicare.gov website, you can assist them in setting one up.

3. Lastly, you can call 1-800-MEDICARE. The Medicare representative will need your parent's permission to speak with you. They should be able to answer all your questions about your parents' plan. This is important because once you set this up, you will always be able to assist your parent/relative whenever you need to speak with anyone at Medicare. And do not be nervous when calling; Medicare has done an excellent job training its customer service agents, and they are as courteous as they are helpful.

4. Encourage your parents/relatives to stay socially engaged with friends, neighbors, and family members. Please encourage them to participate in community activities and maintain a strong support network. The worst ailment for an aging adult is the feeling of loneliness and depression.

5. If your relative has a Medicare Advantage plan, you may want to consider switching to a Medicare Supplement plan soon. There is less confusion and far less out-of-pocket costs with Medicare Supplement/Medigap plans. Call us if you need help understanding your options, and we can work with you to choose the best plan for your family member.

6. Medicare Advantage health plans may change or be eliminated from year to year. Try to find an Independent Medicare Broker close to you and set up a consultation once you know which plan your relative/parents are enrolled in. Medicare Advantage Plans and Medicare Part D Prescription Drug Plans should be reviewed annually, during the Medicare Annual Enrollment Period (AEP) from October 15th to December 7th.

7. Make a list of all of your parents' or relatives' Prescription Medications. Review them, including the frequency and strength of their medicines. Also, be sure to ask what each medication is for so you can learn more about their care.

8. Please make a list of all their Doctors, Dentists, and Other Healthcare professionals. Email or leave your name, address, and contact information with each Doctor's office. Then, when you get a chance, call the Doctor's office and introduce yourself. They can then call your family members to verify that you are acting on their behalf as needed.

9. Consider whether you’ll need to or be able to help your parents financially, how much, and for how long. Typically, adult children are not financially obligated to pay for their parents’ care.

SPECIFIC THINGS TO FOCUS ON WHEN YOU ARE LEARNING ABOUT MEDICARE?

Assess the medical needs of your aging parents or other family members and help care for them. Consider their ongoing health conditions, whether they are currently taking prescribed medications, whether they have been advised to undergo tests or screenings soon, and whether any surgical procedures have been recommended by their doctors.

EVERYONE HAS 3 CHOICES TO CHOOSE FROM WHEN IT COMES TO HOW THEY WANT TO RECEIVE THEIR MEDICARE BENEFITS. ORIGINAL MEDICARE, MEDICARE ADVANTAGE, OR ORIGINAL MEDICARE WITH A MEDIGAP PLAN.

DID YOU KNOW THAT MANY MEDICARE BENEFICIARIES HAVE LESSER COVERAGE THAN THEIR CHILDREN WOULD WANT THEM TO HAVE?

Medicare Advantage plans are known for adding benefits not covered by Original Medicare. If they currently have a Medicare Advantage plan, obtain a copy of the Summary of Benefits so you can easily understand the benefits and how they work. This is very important because most Medicare Advantage Plans divide benefits by Quarters, so a $2,000 Dental benefit is likely $500 per quarter, with benefits not rolling over to the next quarter.

WHEN YOU IN CHARGE OF CARE FOR AGING PARENTS, FOCUS YOUR EFFORTS ON UNDERSTANDING THESE ITEMS:

1. What are the health benefits offered/included with their current plan?

2. What can they afford? Are they struggling financially?

3. What health concerns do they have? What health issues are anticipated?

4. As your parents or loved ones age, will they likely require caregivers? Do they have any Life or Long-Term Care Insurance that could assist them later, if necessary?

5. Will they have solid insurance if they have cancer, diabetes, or are hospitalized? Not all Medicare Plans are created equal, so this is another good reason to schedule a call with a local, independent Medicare Broker.

6. Do they have proper drug coverage? The right drug plan is essential. Prescription drugs can be costly. Remember, they can change plans every year at no cost if necessary, but you can only do this at certain times of the year.

7. Can they see any doctor who accepts Medicare (with Original Medicare Parts A & B and/or Medigap), or are they limited to in-network providers? If they have a Medicare Advantage Plan (Medicare Part C), they must see only physicians and go to hospitals and clinics in their plan's network.

8. Do they already have a long-term relationship with a physician, and does the physician participate in their plan? If so, this is costing them money because they are going out of the Network for care.

UNDERSTANDING WHY IT IS SO IMPORTANT NOT TO MISS ANY OF THE MEDICARE DEADLINES!

Medicare has specific enrollment periods that must be met. If a Medicare beneficiary misses these deadlines without qualifying for a special enrollment period and without creditable coverage, they may face permanent late enrollment penalties.

Enrolling on time also allows your elderly parents access to preventive services, screenings, and vaccinations at no cost. Delaying enrollment could leave your aging parent without health insurance, exposing you to potentially high medical costs and creating further health issues.

During your initial enrollment period (IEP) for Medicare, everyone is guaranteed one-time acceptance into Medicare Supplement (Medigap) policies, regardless of pre-existing conditions. If you miss this period, you might face more stringent medical underwriting requirements and could be denied coverage or charged higher premiums.

Some Medicare plans, like Medicare Advantage and Medicare Part D Prescription Drug plans, have specific annual enrollment periods. If your aging parents miss these periods, they might have to wait until the next enrollment period to make changes or enroll in a different plan.

CAN PEOPLE DELAY THEIR MEDICARE ENROLLMENT, OR DO THEY HAVE TO ENROLL AT AGE 65?

Aging parents can often delay enrolling in Medicare without penalties in certain situations, such as having employer-sponsored health coverage while actively working. Such insurance is considered a “creditable” alternative to Medicare.

WHAT DO I DO IF MY AGING PARENTS CAN NOT AFFORD MEDICARE?

LOOK INTO LOW-INCOME PROGRAMS

Depending on their financial situation, their parents may qualify for Medicaid, a government program that provides healthcare coverage to low-income individuals and families. Medicaid coverage and rules vary by state.

MAYBE CONSIDER MEDICARE SAVINGS PROGRAMS

Some states offer Medicare Savings Programs that help cover Medicare premiums, deductibles, and coinsurance for individuals with limited income.

LOOK INTO COVERAGE AND PROGRAMS PROVIDED BY SOCIAL SECURITY

If your parents have limited income and resources, they might qualify for SSI, a federal program that provides financial assistance to elderly and disabled individuals. You will likely need to call your local Social Security office to schedule an in-person appointment.

ASSISTANCE TO HELP LOWER PRESCRIPTION DRUG COSTS

Some programs offer assistance with the cost of prescription medications. Medicare’s Extra Help program helps with Part D prescription drug costs.

OTHER CHARITABLE/NOT FOR PROFIT ORGANIZATIONS

Many nonprofit organizations provide financial assistance, other resources, and support to seniors for healthcare expenses.

WHERE IS THE BEST, SAFEST, AND MOST RELIABLE PLACE TO FIND INDEPENDENT INFORMATION ABOUT MEDICARE?

1-800-MEDICARE

      This toll-free number provides assistance and information about Medicare.

STATE HEALTH INSURANCE ASSISTANCE PROGRAM (SHIP)

       Each state has a SHIP that offers free assistance to Medicare Beneficiaries.

MEDICARE & YOU HANDBOOK

      Medicare provides this publication, available in print and online. You can download the Medicare And You Handbook or call 1-800-Medicare and request a copy be sent to you.

NON-PROFIT ORGANIZATIONS

•  Organizations such as AARP (American Association of Retired Persons) provide information and resources for seniors, including guidance on Medicare and other healthcare coverage.

OTHER GOVERNMENTAL AGENCIES

•  Agencies such as the Social Security Administration can provide information on Medicare enrollment and eligibility.

  
  

IF YOU ARE STILL UNSURE OF HOW TO PROCEED, WE ARE HERE TO HELP

Here at Braden Medicare, we are always available to speak with anyone who has questions or needs advice regarding Medicare and other insurance issues. We are dedicated to being your friend and neighbor. We are happy to provide anyone who contacts us with free advice. Our goal is to keep as much money as possible in the pockets of our clients and their families.

Medicare Supplement and Medicare Advantage carrier in the state. Our goal is to treat everyone we meet with kindness and respect. We have the hearts of teachers and the tenacity of prosecutors, and we treat everyone as we would any member of our own family.

We appreciate you reading our Blog, and we look forward to assisting you with any questions you may have, now or in the future. You can reach us at mike@bradenmed-icare.com, by visiting our website at www.bradenmedicare.com, by calling us at (480) 225-1393, or by faxing Braden Medicare Insurance at (480) 422-9062.