u/Kitchen-Drama-8375

In my 30s, married and w a kid of my own, abroad, thinking of starting a fund just for my parents’ (60s) health insurance. Terrible situation all around as they don’t have a ton of funds, only remaining “asset” is their home — one for each. Anyway, looks like we need that fund soon to cover inevitable hospital bills (that just comes naturally with aging).

What is the smartest way to approach this situation? Like just open a PH bank account w a high yield savings - is that even worth it? Given that they’ll use the fund short term. (I’m working ft and am doing fine financially & is able to contribute to said funds). Thanks for your time if you’ve read this far.