life getting scarer.

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icfrugal1
Posts: 2407
Joined: Fri Aug 28, 2015 12:54 am

life getting scarer.

Post by icfrugal1 » Thu Apr 04, 2019 12:31 pm

I was at lunch with a friend the other day, she is in her 70's and her parents are in their 90's. Her parents have outlived their money, Their only income is their SS and their medical bills for RX's are $700.00 a month. Thank God their house is paid for and they have taken out a home equity loan, but that can only work for so long. :(

Another friend, a widow in her 70's just took out a reverse mortgage on her house.She paid off her bills and her mortgage, but her only income is SS (I think), she claims that the reverse morgage is due in 4 years???????? she is very worried.

Another friend about 63 has rented out a room in her house to help pay the bills.

And that is not even talking about my "Sunday friend" her house is falling apart and even though her house payment is "only" $500 including taxes and ins, because of her medical bills she is in a very bad place. Her house is a 2 bed 1 bath and she does not want a roommate. :(

I'm watching me spending more money all of the time, little things are adding up. Yes, it's a ME problem. Well part of it is a Goldie problem :roll: :D :roll: let me tell you there is no such thing as a free puppy LOL But I do need to pull back somewhere.

IC

clemencia2us
Posts: 4250
Joined: Fri Aug 28, 2015 9:21 am

Re: life getting scarer.

Post by clemencia2us » Thu Apr 04, 2019 12:54 pm

the 90 year old parents don't have Medicare?

The person with the reverse mortgage - can she leave the house to the finance company after she passes?

floridacatlover
Posts: 2944
Joined: Fri Aug 28, 2015 7:21 am

Re: life getting scarer.

Post by floridacatlover » Thu Apr 04, 2019 1:05 pm

clemencia2us wrote:
Thu Apr 04, 2019 12:54 pm
the 90 year old parents don't have Medicare?

The person with the reverse mortgage - can she leave the house to the finance company after she passes?
Rx of $700/month with Medicare does sound high, but Rx can be costly even with Medicare. I’ve looked at the Part D plans for when I go on Medicare this fall and it looks like I’ll spend about $3k a year including the monthly premium and co-pays for my glaucoma meds. My blood pressure med is free at Publix. My good friend on Medicare who has AFIB pays $2,500/year for Rx. I’m not sure if that is including her Part D premium or just her co-pays. Thankfully I can afford it and my friend can afford her Rx, too.

floridacatlover
Posts: 2944
Joined: Fri Aug 28, 2015 7:21 am

Re: life getting scarer.

Post by floridacatlover » Thu Apr 04, 2019 1:11 pm

icfrugal1 wrote:
Thu Apr 04, 2019 12:31 pm
I was at lunch with a friend the other day, she is in her 70's and her parents are in their 90's. Her parents have outlived their money, Their only income is their SS and their medical bills for RX's are $700.00 a month. Thank God their house is paid for and they have taken out a home equity loan, but that can only work for so long. :(

Another friend, a widow in her 70's just took out a reverse mortgage on her house.She paid off her bills and her mortgage, but her only income is SS (I think), she claims that the reverse morgage is due in 4 years???????? she is very worried.

Another friend about 63 has rented out a room in her house to help pay the bills.

And that is not even talking about my "Sunday friend" her house is falling apart and even though her house payment is "only" $500 including taxes and ins, because of her medical bills she is in a very bad place. Her house is a 2 bed 1 bath and she does not want a roommate. :(

I'm watching me spending more money all of the time, little things are adding up. Yes, it's a ME problem. Well part of it is a Goldie problem :roll: :D :roll: let me tell you there is no such thing as a free puppy LOL But I do need to pull back somewhere.

IC
I’ve started reading a book called Nomadland: Surviving America in the Twenty-First Century by Jessica Bruder, published in 2017. It is about people who live in their RVs/campers and travel around the country working seasonally at Amazon warehouses, state parks, farms, etc. I’ve only read about 70 pages but it is interesting. My friend read it and gave it to me. (My friend is my alternative library because she buys a lot of books. I buy almost none.)

icfrugal1
Posts: 2407
Joined: Fri Aug 28, 2015 12:54 am

Re: life getting scarer.

Post by icfrugal1 » Thu Apr 04, 2019 2:33 pm

clemencia2us wrote:
Thu Apr 04, 2019 12:54 pm
the 90 year old parents don't have Medicare?

The person with the reverse mortgage - can she leave the house to the finance company after she passes?
yes, this is after medicare :(

ohjodi
Posts: 946
Joined: Sun Aug 30, 2015 3:57 pm

Re: life getting scarer.

Post by ohjodi » Thu Apr 04, 2019 3:58 pm

Have the 90's couple contact Medicare about applying for prescription help.

https://www.ssa.gov/benefits/medicare/prescriptionhelp/

Ask them also about applying for their state's Medicaid, which would be their supplemental insurance to Medicare.

Their local Department of Human Services can help get the ball rolling on this, too.
ohjodi

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