Long Term Care InsuranceWritten by Tim Gorman
In early 1980's Medicare started using a system called diagnosed related group of guidelines for advance payments to hospitals. This has really given hospitals authority and incentive to discharge patients very soon after admission to hospital. The hospital gets paid same whether patient is in 3 days or 6 days. So hospital can make more money if they free up bed space for next patient. The problem this has caused is that nursing homes have become recovery place for these patients that were not ready to go back to their homes. The problem with this is that Medicare only pays up to 21 days of skilled nursing care. Therefore, if a patient is not recovered after 21 days in nursing home, then funds come out of patients estate, provided they have one. Needless to say, it does not take long to eat up one's estate at nursing home rates.Insurance companies have just in last decade recognized this problem and now are offering Long Term Care Insurance. The long term insurance rates vary by geological location, as well as state and local regulations. The premiums are costly, however, a person has to weigh out advantages and disadvantages to purchasing long term care insurance.
| | Debt ConsolidationWritten by Tim Gorman
Millions of Americans are finding it hard to pay their bills and dig themselves out of debt. Many are turning to debt consolidation for help. While biggest problem seems to be credit card debt, other debts such as; tax debts, medical bills, student loans and personal loans can all be included in a debt consolidation plan. Debt consolidation is a simple process that can be done over Internet. A person needs to search for a lender that is listed in Better Business Bureau. It is also recommended to find a lender that is part of a non-profit organization. After a lender is picked, an application is filled out with personal information as well as debt amounts, account numbers and present monthly payment amounts. A debt specialist will then give you feedback on what your 1, new monthly payment would be and how long until your debts are paid. If both parties accept debt consolidation plan, a signature will be required to get started. The lender will deal with creditors. In most cases lender will get creditors to lower interest rate and in some cases even lower amount owed.
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