As you know, Kids Ain’t Cheap normally talks about young children and finance. However, as children grow up, they sometimes find themselves in the parenting/guardian position. In somewhat of a role reversal, older parents often end up needing assistance from their children. So, we felt this was an important topic to talk about.
Once your parents reach Social Security retirement age, Medicare becomes a significant part of their lives. The program provides them with a certain level of medical insurance, ensuring more manageable expenses. This is especially important once parents are no longer working. You, as the adult child, may have to play a major role in this process. Here’s how to care for your elderly parents via Medicare coverage.
Tamila McDonald is a U.S. Army veteran with 20 years of service, including five years as a military financial advisor. After retiring from the Army, she spent eight years as an AFCPE-certified personal financial advisor for wounded warriors and their families. Now she writes about personal finance and benefits programs for numerous financial websites.