Home Resources Financial Matters Financial Planning

Financial Planning

Plan for your future

Long-term financial planning is important for everyone -- but it is essential if you are coping with the expense of a chronic illness, such as Parkinson's disease.

Develop a Financial Plan. Dealing with a chronic illness is unpredictable, there is no way to know how you will feel or what you will be able to do days, months, or years from now. But, for your own security and that of your family, you need to plan ahead, and assume that Parkinson's will lead to increasing disability. There are professional financial managers and medical lawyers that deal with financial planning for people with chronic illnesses. Ask your doctor, a family friend or colleague for a referral.

Employee Insurance. If you are insured, either through your employer or a retirement policy, read all of the policies pertaining to chronic illness. If you are unsure about the language or terminology, contact the personnel department or your financial planner.

It is important that your insurance agree to provide for a referral to a specialist in Parkinson's disease in the event that you should need one now or in the future. Not every neurologist is a specialist in Parkinson's disease. To be a specialist, neurologists undergo further training in movement disorders.

Private Insurance. If you are unemployed and you do not have coverage, you should look for the highest level of coverage that you can afford.

Medicare. If you are 65 or over, you will qualify for Medicare. You can supplement this insurance with a "Medigap" policy available through a private insurer. Note also that many states have prescription assistance/reimbursement programs for low-income senior citizens.

If you are disabled but too young to qualify for Social Security, you may be eligible to receive a form of Medicare for the disabled.

Medicaid. If you cannot get insurance and your income is low, you may qualify for Medicaid, a government "safety net" program that pays for medical costs that exceed a person's ability to pay.