Strategies for meeting the medical expenses of one's ageing parents

Medical insurance for seniors comes with co-payment clauses, sub-limits, and waiting periods; buy the cover, but also build a health contingency fund

Health-related problems grow as one enters the sixties. Senior citizens themselves, and their children need to plan for these needs. The planning, in fact, needs to begin from the early fifties.

A recent survey by Aditya Birla Health Insurance reveals that parents and their children need to do much more to take care of the healthcare needs of the former. Things become more difficult to handle within double-income families. With children moving to other cities, or even abroad, often no one is present with the elderly parents when medical emergencies arise.  

Create a health contingency fund: One should start building