A Scary Situation

A couple of days ago, one of our clients suffered an episode caused by insulin reaction. While it was scary for her family, she fortunately did not suffer any serious injury besides bumps, bruises, and some bleeding. But think of the following situation: A child paralyzed in a tragic accident; a spouse diagnosed with Parkinson’s disease and then placed in assisted living after a terrible fall; mounting medical bills. How does one plan for a situation such as this? Kate Michelman certainly thought she and her husband had planned for every eventuality—she is a well-known and well-to-do public figure, they have excellent medical insurance, long-term care insurance—and yet still they found themselves “on the brink of losing everything”.

Michelman’s story is frightening precisely because it could happen to any of us. According to Michelman, the unfortunate truth about medical insurance, long-term care insurance, and even Medi-Cal (Medicaid in other states besides California) is that it often covers “most of the cost” of medical treatment—but “most” is woefully lacking when faced with the reality of the high cost of medical care.

And so we ask again, how does one plan for a situation such as this? The answer begins “with professional help.” The medical industry, insurance industry, and government benefits programs are staggeringly convoluted and confusing and the California Medi-Cal system is going through a major change this year.

If you ever encounter this type of situation, enlist help in navigating the requirements and regulations. Let us help you build a plan to make the best use of those systems and what they offer.