thlayli

My dad has Adult Onset Diabetes, and works for a company that does not offer health insurance. Being 61, he's not likely to change jobs. Apparently he makes too much money to qualify for Medicare, but not by much. He hopes that he can "retire" soon, and go on social security, which would allow him to get medicare.

He cannot afford the costs for his medication, and his eyesight is failing, and he needs an operation on both eyes. That will cost him about $6k of money he doesn't have.

Does anyone know of any options he has? I'm worried about his health, and I don't know enough about insurance to give good advice.

Thanks

-Thlayli

maleficent

Check into AARP, which is for people who are 50 and above... I beleive they have an insurance plan that he might be eligible to join, as well as a prescription plan.

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flstf

This is a tough one. The insurance options for those over 50 up to age 65 are very expensive. Like maleficent said check the AARP website for options but they are somewhat expensive. I don't believe that medicare kicks in until you are 65.

Before his eyesight gets any worse I would think that he must do whatever is necessary to get the proper medication.

Perhaps a second mortgage or even an equity loan of some sort.

If he has any savings in a 401K or IRA account, there are ways to get at the money and pay no penalty, especially for medical reasons.

If he has a retirement plan with his company check to see if he can retire now or cash out and still keep working.

If he worked for any other companies in his life check to see if there are any retirement plans he qualifies for, some will let you cash out early or retire early. You would be surprised at how many people don't realiize they have something coming from companies they worked for in previous years.

If he is a veteran, check the benefits for them.

If all else fails he can open a HSA (Health Savings Account) which allows you to put in about $5000 a year tax free and draw the money out for medical costs and pay no taxes on it.

Good luck and hopefully you can come up with something. The healthcare system in this country sucks and the problem your father faces is not unusual.

BigBlueWrecking

health insurance, when sick, is almost impossible to get. His best bet is to seek other employment, and even then they may not cover pre existing conditions without proving that he was previously insured.

thlayli

Thanks guys for all the advice! I'll check in to the AARP, and continue to try to cinvince him to lget a better job. Unfortunately, he's pretty set in his ways, so we'll see how that goes.

-Thlayli