Question: How to get inexpensive good insurance for elderly parents?
From: Steve of Ames, IA

Answer: You did not provide details about your parents” ages, whether or not they have Medicare and/or a supplement to Medicare. Since you use the term “elderly,” I will assume they are in the Medicare age group. Medicare is health insurance offered by the federal government for people 65 and older and to some younger people who have disabilities. Part A of Medicare is automatically available to people who paid social security taxes and it helps pay for hospital bills, nursing home care, hospice and home care. Medicare Part B is a supplemental insurance option for people who qualify for Medicare and covers outpatient doctor services and other medical services. Its purpose is to provide coverage for health care not covered under Part A. Part B provides coverage for doctors services, lab tests, physical, medical equipment, and some other medical services. There is a monthly premium and a co-pay. A fairly new part of Medicare is referred to as Plan C or Medicare Advantage Plans (like HMOs and PPOs). These private health plans have their own networks but do provide all Part A and Part B coverage and some offer drug coverage. The individual may have to see providers within their network. Out-of-pocket costs in these plans may be lower because of this. An excellent website www.medicare.com lists the options: Medicare Preferred Provider Organization (PPO) Plans, Medicare Health Maintenance Organization (HMO), Medicare Private Fee-For-Service (PFFS), Medicare Special Needs Plans (SNP), Medicare Medical Savings Account (MSA) Plans. People are generally eligible if they live in the service area of the plan, they have Medicare Part A and Part B coverage, and they don't have End-Stage Renal Disease. The newest part of Medicare is Part D prescription drug coverage. You must be enrolled in Medicare before you can apply for Part D coverage. It is offered by private companies and there is a monthly premium.