This is part of a monthly series of financial advice on eldercare issues by Deborah Higgins, president of Higgins Capital Management in La Jolla.
By Deborah M. Higgins/President/Higgins Capital
As we end 2013, I thought I’d touch on insurance plan cancellation notices that have been flooding many mailboxes. The notices are due to current insurance plans that don’t meet the minimum requirements of the Affordable Care Act (ACA) that goes into effect on Jan. 1st. The President has announced that insurers could elect to allow consumers to keep noncompliant policies through 2014.
I got that call from our insurer and was able to renew through 2014 at the same pricing. I have included a write-up about grandfathered plans in case you are dealing with insurance needs of the adult under your care, as well as your own policy situation.
I wish you all a happy holiday and a 2014 that brings joy.
Others in the series:
Tips for Caregivers
U.S. Government Shutdown Explained
Coordinating Long-Term Care with Government Benefits
Caring for an Aging Parent Checklist