1. It's a common mistake of young employees that they tend to rely only on group medical insurance provided by their current employer.
2. They should also buy their own medical policy, preferably a family floater, which will help them to meet treatments even during job changes and job losses or unemployment.
3. For the elderly, their employed kids could possibly include them in their employer's group medical insurance, if a standalone policy is costly to buy.
4. A family should also maintain a reasonable contingency corpus for taking care of such emergency needs of the elderly that can't be covered.
5. Adopting a healthy retired lifestyle, with disciplined regular exercise, can also help in managing medical costs.
2. They should also buy their own medical policy, preferably a family floater, which will help them to meet treatments even during job changes and job losses or unemployment.
3. For the elderly, their employed kids could possibly include them in their employer's group medical insurance, if a standalone policy is costly to buy.
4. A family should also maintain a reasonable contingency corpus for taking care of such emergency needs of the elderly that can't be covered.
5. Adopting a healthy retired lifestyle, with disciplined regular exercise, can also help in managing medical costs.