so as the title suggests i am taking care of my immigrant parent. she was a homemaker and recently separated from my dad after a terrible life together. they were not considered married after a legal gaffe from years ago, so she gets nothing from him.
i applied for medicaid for her and she was denied based on citizenship status (she is a greencard holder) so her healthcare is a mess. before, she basically never went to the dr - she hasn't had health insurance basically ever since we immigrated here. she had always scrounged to pay out of pocket.
anyway, so she basically sacrificed everything a person can for my siblings and i. i finished college and bought a house, i make $70k a year - not amazing but not terrible for a single person. she has now moved in with me and i am trying to come up with a long term plan to care for her. i feel absolutely no resentment and she is going to live with me forever & thats that. she basically costs me zero dollars to have around right now.
but these are my biggest questions & concerns long term now that i understand her situation:
health insurance: i tried getting her coverage through the market and the plans were unaffordable - like $600 for the shittiest plans possible. what options do i have? reapply for medicaid? panic?
life insurance: what is the best way to go about getting her a policy? what other insurances should i consider? (edit: i now realize life insurance for her is not a logical choice, thanks for the feedback guys :)
retirement: even though she is going to be camped with me for the rest of her natural life, i still want to have a financial safety net for her in case i randomly croak. is getting her an ira or something feasible? what are my options?
in addition to this i am also helping my other siblings through school, so i don't really have a lot of expendable income. i really need help that isn't 'live your life, your parent chose to have you!'. i tried reading other posts but other folks have parents who at least worked a little - she never had a real job. she had little informal side hustles but never worked a real job with benefits.
i should also add she had pretty serious surgery for an ortho injury so sending her to work now is out of the question too.
thanks reddit.
Submitted May 13, 2021 at 09:10AM by leafingtree https://ift.tt/3tJWAn4
