Long Term Health Care Insurance

There is nothing more tragic than watching a loved one that has lived their lives suffers from a sickness or disease and they have no insurance to help ease the pain. When we start to age, as we all do our bodies are tired and will start to wither away. Long term health care insurance is expensive yes, but think about not having it. Where would you be if there was no insurance to cover most of your bills? So many pay more for their houses and cars than they do for health insurance which is very sad and wrong.When your parents start aging you must have some sort of long term health care insurance or it can cost them and you your life savings, not to mention your house and car. I honestly feel that our parents took care of us and now it is our turn to take care of them. There are three major factors when considering health insurance, long term in particular. It is where you live, your age and how healthy you are. These all factor into the price of the long term health care insurance.If you start out young purchasing long term health care insurance the cheaper the rates will be and you are able to get more benefits if you should ever need it. People that are healthy when young and stay that way will more likely be healthy when they start to age. Some insurance companies will deduct around ten percent of the premiums which can really add up. Once that premium each year that you pay out, it cannot not be changed even if your health worsens or you get older, which you will.All insurance companies that deal with long term health care insurance demand a physical for each person being insured. This determines the cost of the premiums that one is entitled to and the tax deductions. You should not lie about your health; you will eventually get caught and can lose your insurance. It also depends on what part of the United States you live in that determines the cost of your insurance.If you live in the big metropolitan areas expect to pay quite a lot of money for your premiums each year, those living in rural areas won’t pay as much. So get with a good long term health care insurance company and sit down with them and decide what you want and need. Children of aging parents can do this as well.

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Learn How You Can Save Money on High Health Care Costs – Even Without Health Insurance!

Today, if you have no health insurance, it can cost tens of thousands of dollars if you have an accident or major illness. The cost of health care has increased so much that it is impossible for many people to visit a physician when they are ill.Emergency rooms are seeing more very serious illnesses now, because people do not visit their doctors when an illness is minor. Instead, they suffer with the illness until it becomes very serious, causing them to go to an emergency room instead. Fewer employers (smaller businesses in particular) are providing health insurance to their employees, leaving the employees the option of having no health care coverage or purchasing their own.And the vast majority of families cannot afford to pay the full premium of health insurance, so most must choose to do without. In fact, some studies show that approximately 70 percent of Americans have either no health insurance or they are under-insured. Those who are considered poor, may qualify for assistance from the state or county in which they live. Each state has their own qualifying criteria, so those seeking such assistance will have to contact their own county or state for information.In some states, the assistance is excellent for those who qualify, even paying for a taxi to transport them to their physician during inclement weather. In other areas, the assistance is minimal, i.e. a patient can have a tooth pulled and the county agency will pay for it, but they cannot have their tooth repaired, because it costs more.So, if you are one of those with no health insurance for yourself or your family, what can you do to reduce your health care costs? There are several ways to reduce costs. Some are better than others, and some people will qualify for all of them, while others qualify for only one or two. We have all heard the horror stories of people going to an emergency room for an injury or illness only to have an extensive wait to be treated, often six hours or more.A better alternative is to go to one of the many Urgent Care Centers that can be found in most cities. The wait to see a physician may not be quick, but it will most certainly be shorter than at the ER. And, if you are paying out of your own pocket, it will very likely be less expensive at the Urgent Care Center. To save money when you see your physician, you may want to join one of the discount health plan providers.There are several companies that charge a monthly fee (sold either per person or per family or household), and when you visit their network of providers (which are usually available in abundance in large cities, fewer in smaller cities and towns); you pay a discounted rate for the services or treatment rendered. The discounts can vary from one area to another and depending upon the treatment received, from only about 15 to 50 percent or more.These plans usually provide discounts on lab work and other tests ordered by your physician. Some also provide discounts at dentists, for prescriptions, vision care, chiropractic care and even elective procedures and alternative medicine. The discount plans usually have a monthly fee, paid by automatic debit that ranges from about $20 to around $60 per month, and often the fee covers an entire family/household. Another advantage of these programs is that, besides receiving discounted medical treatment, you need not get approval from an insurance company for tests or other treatment your doctor orders.You will receive the discount on any treatment ordered by your doctor, and even for cosmetic surgery and other optional care. Also, everyone qualifies for these plans, and no one can be turned down. If you require a prescription, many physicians will provide you with samples, but you may have to ask. Pharmaceutical representatives provide many samples to doctors, wanting them to give them to their patients. There are also several Prescription Advocacy Programs that are suitable for those who take prescriptions regularly.Each program has its own qualifying criteria, but they usually are restricted first by the income of the patient. Other criterion that sometimes comes in to play is whether or not the patient has insurance and whether the insurance will pay for particular medications.You may have to become a member to receive the benefits of these programs, but the savings on your prescriptions can be huge. For instance, if all your monthly prescriptions total $200 per month, and you have no health insurance to cover any of the costs, you may be able to join a program for small start-up cost with an additional monthly fee. With one Prescription Advocacy Program of which I am aware, the sign-on cost is $25, and the monthly fee is $82 (per person).Besides the monthly fee, you pay nothing toward the purchase of your prescriptions! Using the $200 per month example referred to above, you would save $118 every month. If you take even more prescriptions or very expensive prescriptions, you could save much more. If you are one of the unlucky many who have no health insurance, you may want to take advantage of one or all of these cost-cutting methods.

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Top Ten Things to Do When Considering Wealth-Creation through Commercial Real Estate Ownership

1. Get organized – most competent lenders can give you a checklist of their needed documents immediately. Full documentation loans (like SBA 504′s) are worth spending the extra time on in order to get organized and shave a couple hundred basis points (100 basis points equals 1.0%) off interest rates. This will add up to tens of thousands of dollars, if not more, over the life of your loan.2. Get pre-approved – this saves you time by knowing what you can afford to “shop” for. There is no sense wasting your time looking at $3 million buildings if you can only afford a $ 300,000 one. We have gotten very efficient and accurate with these (assuming you provide the documents we need to examine), issuing them in as little as 24 hours.3. Know the market you’ll be buying in.— use a knowledgeable commercial realtor to find your new property. If you’re like most business owners, you don’t have time to go on endless drives shopping for a building. A competent commercial realtor can save you time plus give you comparable sales/lease rates in the area, demographics, and plans for growth.4. Consider low down payment and longer-term loans — this preserves your capital for better utilization, keeps your cash flow high, and allows you to redeploy the “capital savings” into other profit-generating business activities. Small business owners no longer have to put down 20 percent to 30 percent or accept fifteen-year terms with five-year fixed rates that balloon from ordinary lenders to get a “good deal.” The commercial loans we provide (504′s) are a perfect antidote to those ordinary loans. The key point here is to actually do something with the “capital savings” you get from only putting a third to half as much equity down and getting up to 25-year terms.5. Buy commercial real estate for the “right” reasons – if your likely exit strategy someday is not an IPO, but rather selling or simply closing your business, then it makes great sense to “pay yourself rent” rather than some landlord. As soon you have the capital for the down payment, you should consider turning that rental payment into a mortgage payment that will at least give you something for your effort – just like buying a home instead of renting an apartment. By doing this, you no longer will be throwing away your lease payment monthly, but building equity in an appreciable asset that also offers multiple tax advantages and income-sheltering opportunities not available with leasing.6. Consider adding other furniture, fixtures and equipment (FF&E) into your commercial loan — as long the FF&E costs are still a minority of your overall project costs and the FF&E have relatively long useful lives, you will get to amortize these on the much longer real estate terms (which will greatly improve your cash flow) at the same time that you depreciate these over shorter, allowable IRS schedules. This aspect gives you truly the highest cash-on-cash return for your project when you employ 90% loan-to-cost SBA 504 financing.7. Consider buying/building more square footage than you need right now — you can always grow into it, but this will also allow you to get some rental income until that time. In virtually all situations with 504 loans, you will have to occupy at least a simple majority within one year of buying the property.8. Always establish a real estate holding company or what is known as an Eligible Passive Concern (EPC) to own your new property — the formation of a master lease between an EPC and your operating company is how you’ll tie the two together. If you later decide to sell your operating business, you can keep the real estate company (and by default, the real estate) from which you can continue cashing rent checks. It is in this way that owning your commercial property can become a great retirement asset for small business owners everywhere, all while “paying yourself” to do it.9. Consider partnering with another business owner in your EPC if coming up with the down payment is tough – if we’ve already pre-approved you for X dollars, this solution will allow you to gain the advantages of commercial property ownership even while you share the equity requirement and upside with another. Please understand that your new partner’s operating business will also have to be examined to commit to your loan, and don’t forget to always use good judgment when partnering with someone else. Make sure to clearly stipulate the buy-out provisions in your operating agreement or other documents ahead of time — disagreements do occasionally occur, but corporate entity documents are usually better at resolving disputes than personal memories.10. Only work with a commercial loan specialist – again, your time is precious so only deal with a lender that specializes in commercial loans. Involving residential mortgage brokers or banker in your transaction will only slow the process down and will probably cost you in expertise, loan terms, fees, and pricing.

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