Financial Planning and Insurance
My brother suffered a massive stroke last fall and, as he is unmarried, my sister and I have been looking after his finances while he is in a group foster home. He has been approved for Social Security payments but will not be eligible for Medicare for two more years (he is 51) and the insurance from his former workplace expires in two months. We have been paying for his care at the foster home ($4000/mo.) - as well as his truck payments and household bills - with his savings (we have P.O.A. for him). Thankfully, he has always been a good saver. However, his savings will not last forever. We are not sure how to approach paying for the gap in insurance as well as how to best use his savings.
We had hoped that he might be well enough by this time to return to his house but that is not an option at this point. We are in desperate need of advice!