hope for stroke survivors and their caregivers
Stroke Related Financial Decisions
When my husband had his massive stroke, there were so many decisions to make, and frankly I was too busy and too tired to make most of them, little lone able to take the time out to run around and meet with an accountant, and the many other specialists who could have given me the information that I needed. Care givers and stroke survivors need a single place to get all the information they need to make the disability related financial decisions that are necessary in the aftermath of a stroke.
Are there accountants and insurance people viewing this website who could give some basic information on PAP (prescription assistance plan), taking money from an IRA under the no penalty disability option, choosing a Medicare plan, and managing finances during a difficult time?
I am no expert (experts please comment here), but it is my understanding that a stroke survivor with no insurance can qualify for PAP if they are single and make $12,000 or less a year or $24,000 or less a year if married. Some doctors offices will help you apply and most clinics geared toward no insurance patients will help you apply for PAP or the prescription assistance plan.
You can also take money from your IRA with no penalty once you are disabled, but I believe you must take out the same amount on a regular basis, which is better than taking it all out at once due to the higher taxes on a large lump sum. Accountants, please give an expert opinion.
I am not well enough informed on how to choose the best Medicare programs to comment. There is some comparative information on the Medicare website and the AARP website.
I am starting this thread in the hope of giving some good general advice to someone reeling from a traumatic change in their life. At the time this first happened to me, I didn't know what was available or where to begin. Are there any success stories or hard won wisdom out there that you would like to add to this discussion? Please do!
Are there accountants and insurance people viewing this website who could give some basic information on PAP (prescription assistance plan), taking money from an IRA under the no penalty disability option, choosing a Medicare plan, and managing finances during a difficult time?
I am no expert (experts please comment here), but it is my understanding that a stroke survivor with no insurance can qualify for PAP if they are single and make $12,000 or less a year or $24,000 or less a year if married. Some doctors offices will help you apply and most clinics geared toward no insurance patients will help you apply for PAP or the prescription assistance plan.
You can also take money from your IRA with no penalty once you are disabled, but I believe you must take out the same amount on a regular basis, which is better than taking it all out at once due to the higher taxes on a large lump sum. Accountants, please give an expert opinion.
I am not well enough informed on how to choose the best Medicare programs to comment. There is some comparative information on the Medicare website and the AARP website.
I am starting this thread in the hope of giving some good general advice to someone reeling from a traumatic change in their life. At the time this first happened to me, I didn't know what was available or where to begin. Are there any success stories or hard won wisdom out there that you would like to add to this discussion? Please do!
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