Financial

What’s Up With Your Senior Parent’s Medical Billing?

Here’s my tip of the week:

If your aging parent has an illness that requires intensive care for an extended period of time, their medical bills can easily skyrocket to over 1 million dollars!  So, control those medical expenses simply by reviewing their statements.

“30% of all medical bills contain errors”.

Stephen Parente,
Professor of Health Finance
at the University of Minnesota

Always request for an itemized bill, then you can look out for duplicate billing for the same services, bills for services that never happened, or overcharging a service.

Has a medical billing error ever happen to you? Please share your thoughts or tips by leaving a comment below.

Whittle Down Medical Expenses

Did you know that an unexpected medical bill can have a significant hit on your senior parents’ finances even if they are insured and/or careful spenders?

Here are 3 ways to whittle down medical expenses:

1. Stay healthy.

2. Eating right and staying fit are important at any age. And, our aging parents will have different needs. They require more calcium and vitamin D to maintain their bone health. So, discuss the best opinions with their primary physician…they could be saving loads of money.

3. Encourage them to have at least 3 servings of a Vitamin D- fortified low-fat or fat-free milk or yogurt every day. Other high sources of calcium-rich foods include fortified cereals, dark green leafy vegetables, and canned fish with bones.

Please share your thoughts or tips on how to whittle down medical expenses by leaving a comment below.

Ways of Maximizing Supplementary Income After Retirement

Retirement is a totally new and different world where you know that you are not going to work and thus, you may not even be able to receive your monthly income. This thought may send jitters through your body as a life without the required amount of money is hard enough to manage. So, it is better to secure your future from now on so that you are able to live a stress free retired life. You will have to plan for your retirement from now on so that you can maximize and supplement your income after retirement. From now on, you should try to pay off your debts, if needed through debt consolidation and lower your expenditures and start saving.

Supplementing income after retirement

There are various ways in which you can supplement your retirement income:

Ways to Deal with Debt

Today’s Senior Resource Central tip is courtesy of Monique Rowe- a guest writer that writes for http://www.franklindebtrelief.com

Finally admitting that your credit card debt is out of control is a scary thing. Debt sometimes happens-to good people with good jobs and good intentions—and many people do nothing simple because they don’t know what steps to take. Well, doing nothing is the worst thing you can do because it doesn’t fix the problem—it just delays it.

There are a lot of credit card debt relief programs out there—and it can be hard to know which is best for your situation. Here are two popular methods just to get you started.