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Parkinson’ s care can be costly, especially when it requires medications, surgical treatments, home modifications and more. Support is available to offset these costs:
Shop around. Different pharmacies have different prices for medications. Online programs like GoodRx can show the cheapest options in your area.
Check for assistance. Drug manufacturers offer different types of aid: financial aid for people who meet income and other requirements, free or subsidized medications for un- or under-insured people, and co-pay cards that reduce costs for those with commercial( non-Medicare or Medicaid) insurance.
Look for nonprofit help. Certain organizations provide grants for Parkinson’ s medications, equipment or care.
Prioritize in-network providers. Co-pays and other visit costs are lower when doctors are in-network with your insurance plan.
Schedule virtual appointments. When available, virtual appointments lessen travel and related expenses.
Use tax-free dollars. Private or commercial health insurance plans may allow you to add pre-tax dollars to Flexible Spending Accounts or Health Savings Accounts. These funds can be used for co-pays, medications and much more related to health and care.
Ask about payment plans. For larger expenses like hospital stays or surgical procedures, ask about options to pay over time rather than all at once.
Financial Resources to Help Manage Costs
Familiarize yourself with what resources and benefits you currently have, what each does and does not provide and where you may need to adjust for the best financial coverage. Resources may include:
+ Monthly income and / or retirement benefits, like Social Security
+ Health care insurance
+ Disability insurance
+ Long-term care or life insurance
+ Savings accounts
+ Investments and other assets
Understanding Medicare Coverage
As with private or commercial health insurance, Medicare may not cover all costs. Medicare generally does not cover home modifications, assisted living or long-term care facilities. However, veterans’ benefits, long-term care insurance and the Medicaid waiver program can be used to provide your loved one the care they need while allowing them to stay at home.
Legal and Estate Planning
Part of financial planning may also include completing legal documents that spell out your wishes related to financial management in later life. Financial power of attorney grants a person you designate the power to manage your financial affairs, accounts, businesses and more, should you become unable to. A will and testament outlines who you’ d want to inherit property or other assets and assigns an executor to handle your estate.
With early-onset Parkinson’ s, there’ s no clear path toward the future. When you’ re diagnosed at 35 or 40, you live a long time with the disease. You need to mentally prepare for what might come and decide how to handle it.
Walter Siegenthaler
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