As you travel the back roads for your weekly luncheon with mom, you think about the tasks to be completed that day:  A trip to the grocery store. A quick stop at the bank. Shuttling kids to and from sporting activities.

Your mind continues to compose the list as you pull over for an ambulance with lights and sirens blaring. As you round the corner of your parents’ street, you see your father and several neighbors in the driveway; your heart skips a beat.

Your father says mom walked to the mailbox, twisted her ankle, fell and hit her head. She laid in the driveway for about 20 minutes before dad went looking for her. The paramedics insisted on taking mom to the hospital for a quick review and assessment. And so, the ride begins.

Changed Plans, Many Decisions

The next three hours are spent providing insurance information, reviewing past medical history, answering questions about the incident, undergoing multiple tests and waiting to see the emergency department physician. Mom appears to be fine and so your mind starts to revamp the list from this morning: the groceries can wait until tomorrow, hit the ATM on the way home, my sister may be able to shuttle the kids around. Then, the doctor arrives. Test results show abnormalities and the physician recommends that mom stay for observation and additional tests.

Many of us will experience similar situations like the one described. Most of us desperately try to avoid a trip to the hospital, so we avoid talking about the possibility, making us unprepared to traverse this emotional rollercoaster ride. Nearly one in five Americans will visit an emergency department at least once a year, according to the U.S. Centers for  Disease Control and Prevention. We must get out of our comfort zone, do research, and be prepared for an unexpected hospital stay as well as what follows.

By  Liz Pencak

When it comes to finances, most people feel a sense of accomplishment when their income exceeds their expenses and their checkbook balances. In fact, most of us follow similar daily paths: work, play, pay.

We work hard for our money, save money when possible and research our options before making major purchases. What happens when our typical routine suddenly takes on a very different path? Have we looked far enough ahead to be prepared for the detour? Do we know what options are available and what to expect?

Preparation Counts

Let’s face it, there are many variables that come into play when planning for the future. Some of these variables may be planned, like buying a home, getting married, having children or paying for college. Others may be unforeseeable, like losing your job, sudden medical expenses or becoming a caregiver for a loved one. Whether planned or not, one thing is certain: each detour will impact our pocketbooks and may change final outcomes.

Statistics show that only about 50% of Americans are planning for the future, have a retirement income plan, or have an emergency fund set aside for the unexpected. Some will say their income prevents them from planning ahead. Or, they may feel prepared having already experienced an unexpected detour and prevailed. Regardless of the excuse, Americans need to take an active role in preparing for their personal future. After all, no one will ever have more of a vested interest in you than you will.

Beyond healthcare service options, you also need a solid understanding of how financial decisions today impact healthcare needs tomorrow. The complexity of the healthcare system, coupled with the ever-changing rules and regulations imposed by governmental agencies, requires the need to keep yourself educated.

For many people, Medicaid will become their primary source of income/payment as they age.