Financial Advice for Those With Parkinson's Disease & Medicare

The Parkinson's Disease Foundation estimates that the neurological disorder costs nearly $25 billion annually in the United States. The figure includes direct and indirect costs of Parkinson's, including treatment, social security payments and lost income from inability to work. Medicare covers prescription drugs and other treatments for Parkinson's, but supplemental insurance, state programs and private foundations can help further ease the financial burden often associated with the disease.

Medicare Coverage

• Those who qualify for Medicare---typically U.S. citizens ages 65 and older---have choices in coverage. Park A covers hospitalization, Part B covers physician's visits and outpatient procedures, and supplemental Part D---which requires an additional premium---covers prescription drugs. Most seniors with Parkinson's should carry all three parts of Medicare coverage, especially considering that average cost of medications for those with Parkinson's is $2,500 per year and therapeutic surgery can cost as much as $100,000, according to the Parkinson's Disease Foundation. The standard 2009 premium for Medicare Part B is $96.40 per month, but that premium may be higher or lower depending on the recipient's annual income. According to the U.S. Department of Health and Human Services, approximately 99 percent of Medicare beneficiaries pay no monthly premium for Part A, but the 2009 deductible for hospital stays is $1,068. Standard Part D Medicare prescription-drug coverage is $28 a month for 2009.

Supplemental Insurance

• Parkinson's patients may require long-term nursing-home stays, products to adapt the home and other healthcare services not covered or only partially covered by Medicare. Some of these services may fall under the umbrella of Medicaid or State Health Insurance Programs, which receive federal funding to provide no-cost health-insurance counseling to Medicare recipients. Medicare beneficiaries with Parkinson's Disease should also consider privately administered supplemental Medicare insurance programs, such as Medigap or Medicare Advantage. Speak to your doctor and a patient advocate for assistance in deciding what care might be needed and what policy affords the best rates and services. Shop around, compare prices and benefits, and choose the right plan for you.

Additional Programs and Assistance

• Several public and private programs can provide additional financial assistance and advice for Parkinson's patients. The U.S. Administration on Aging's Eldercare Locator lists local agencies that provide services, products and support to seniors and their families. According to The Eldercare Locator, the service "is your first step for finding local agencies, in every U.S. community, that can help older persons and their families access home and community-based services like transportation, meals, home care, and caregiver support services." Another resource is the Melvin Weinstein Parkinson's Foundation, which "purchases equipment and supplies necessary for Parkinson's patients to sustain a safe and healthy environment and preserve their self-esteem and dignity." According to the Parkinson's Disease Foundation, locating financial assistance requires resourcefulness, perseverance and patience. "By being creative and organized, you should be able to find some amount of help and reduce your financial stresses," the foundation says.