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  • Karen McPhail, RN, MSN

Maximizing Funds

In today's world everyone needs to maximize funds, especially after a tough market day! But for someone chronically ill this becomes a critical and important part of daily living. Aside from the basic tips in terms of budgeting, saving as a common routine, etc how does one maximize their funds for the future when it comes to health care and meeting immediate and longer term needs?

Long Term Care planning is an exceptional way to holistically plan for the future! A care plan provides the following benefits:

  • Provides a road map for the future and care while considering all financial aspects and expressed wishes.

  • Provides supportive resources, including linking to appropriate entitlement programs. Enabling caregivers to feel confident in navigating care and in participating in care decisions.

  • Provides certainty and decreases stress and anxiety over care and financial aspects.

  • Reduces costs due to unnecessary expenditures, emergency room visits, exposure risk, complications, long term issues, and hospitalizations!

  • Improves overall medical management for people with a chronic health conditions, resulting in better quality of life and decreased out of pocket costs.

Reach out today via out contact area if we can assist in any way. We are here to help!

Here are some additional resources that may be helpful to start this process and access resources:

Care Plan Template:

Some written planners and resource books:

  • Get it Together: Organize Your Records So Your Family Won't Have To

  • Peace of Mind Planner: Important Information about My Belongings, Business Affairs, and Wishes

  • I’m Dead Now What?: Important Information About My Belongings, Business Affairs, and Wishes

  • MemoryBanc: Your Workbook For Organizing Life

  • National Institute on Aging and Area Agency on Aging(online and hard copy)

  • 5 Wishes

  • The 4 Steps of Long Term Care Planning

  • How to Deal with 21 Critical Issues Facing Aging Seniors

  • How to Apply for VA Benefits for Veterans & Their Survivors (2020 Edition)

Additional Resources:

NeedyMeds: is a nonprofit organization that lists programs that help people who cannot afford medications and healthcare costs. NeedyMeds has information about government programs, low-cost or free medical and dental clinics, and prescription assistance. NeedyMeds also hasdisease-specificfinancial aid programs. 800-503-6897.

The Patient Advocate Foundation (PAF): Case management assistance for the uninsured or underinsured with life-threatening or debilitating illnesses. Services include help with the following: access to care; co-pay assistance; social security disability applications; and insurance appeals. PAF also has a National Financial Resource Directory that allows patients to find resources within a given state. 800-532-5274. 

Veterans Aid and Attendance Benefits:

VA Nursing Homes:

The Assistance Fund: Provides help to patients with specific chronic or serious illnesses cover the cost of FDA-approved medications. 855-845-3663.

Good Days: Provides help to patients with specific life-altering conditions. Assistance includes help with the cost of medications and travel. Please note that the status of the fund may change throughout the year. 877-968-7233.

HealthWell Foundation: Provides financial assistance for those withspecific chronic or life-altering conditions. The funds help with the cost of prescription medications, health insurance, pediatric treatment, and travel. Please note that the status of the fund may change throughout the year. 800-675-8416.

The National Organization for Rare Disorders (NORD): NORD is a patient advocacy organization for individuals with rare diseases and the organizations that serve them. NORD provides Patient Assistance Programs that provide financial assistance for medications, insurance premiums and co-pays, diagnostic testing, and travel for clinical trials or consultation with disease specialists. In addition, NORD provides links to other financial assistance resources. 800-999-6673.

The Pharmaceutical Research and Manufacturers of America (PhRMA): has created a tool that allows patients to search for financial assistance resources offered through various biopharmaceutical industry programs to help cover the cost of medications.

The Patient Access Network Foundation or PAN Foundation: Assists the underinsured cover out-of-pocket costs associated with medications and treatments for specific diseases. 866-316-7263.

Patient Services, Inc: Offers assistance programs for various conditions. Programs may include help with co-payments, premiums, ancillary services, infusion, nursing services, or travel. Note that the status of the fund may change throughout the year. 800-366-7741.






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