Origin Of Long Term Care Insurance

In the early 1980's Medicare started using a system called the 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 the hospital.

The hospital gets paid the same whether the patient is in 3 days or 6 days. So the hospital can make more money if they free up the bed space for the next patient. The problem this has caused is that nursing homes have become the 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 the 21 days in the nursing home, then the funds come out of the patients estate, provided they have one. Needless to say, it does not take long to eat up one's estate at the nursing home rates.

Insurance companies have just in the 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 the advantages and disadvantages to purchasing long term care insurance.

Many people assume that their healthcare provider will cover long term care. Unfortunately Health care insurance covers medical bills, hospital bills and some prescriptions. They do not cover nursing home expenses. The same rule applies for Medicare. Medicare will pay for skilled nursing home care only for patients that are able to fully recover from their injuries or illnesses. Then the myth is that a person can always fall back on Medicaid, but Medicaid is for the people who fall under the low income guidelines and have little or no assets.

If a person can afford long term care insurance, it is highly recommended that they purchase it when they are young, as the rates are substantially lower.

Timothy Gorman is a successful webmaster and publisher of Best-Free-Insurance-Quotes.com. He provides more insurance information and offers discount long term care insurance, life, auto and home insurance that you can research in your pajamas on his website.

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table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.telegraph.co.uk/finance/3169986/Japanese-insurer-Yamato-Life-collapses---countrys-first-credit-crunch-victim.htmlcid=1255992539ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNEQCScbs3WektT_rsmbo2jZbLKyVwimg src=http://news.google.com/news?imgefp=B4FfRXWvfoUJimgurl=www.telegraph.co.uk/telegraph/multimedia/archive/01007/yamato_1007118c.jpg width=80 height=49 alt= border=1brfont size=-2Telegraph.co.uk/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.telegraph.co.uk/news/worldnews/asia/japan/3179580/Japan-in-desperate-effort-to-halt-its-own-downward-economic-spiral.htmlcid=1255992539ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNHultP-QMMWO24Knq5BELbaeZv7cQJapan in desperate effort to halt its own downward economic spiral/abrfont size=-1font color=#6f6f6fTelegraph.co.uk,nbsp;United Kingdomnbsp;-/font nobr19 hours ago/nobr/fontbrfont size=-1Testimony to this were the nation#39;s first direct victims: the 1000 employees of Yamato Life bInsurance/b, as well as its 170000 policy holders, b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.ft.com/cms/s/179be274-96f3-11dd-8cc4-000077b07658.htmlcid=1255992539ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNEkjrkbq21FttApCziZz5j_Jahh-wYamato files for bankruptcy/a font size=-1 color=#6f6f6fnobrFinancial Times/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.hindu.com/thehindu/holnus/000200810101676.htmcid=1255992539ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNHhrh2H8spgTMJTT1h2KHb_ByF1vwJapan#39;s Yamato Life bInsurance/b files for bankruptcy/a font size=-1 color=#6f6f6fnobrHindu/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.thehindubusinessline.com/blnus/10101205.htmcid=1255992539ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNEI_IHYMxKZZZvxpoMS5v5LVuOuygJapanese binsurance/b co Yamoto collapses; files for bankruptcy/a font size=-1 color=#6f6f6fnobrHindu Business Line/nobr/font/fontbrfont size=-1 class=pa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.yomiuri.co.jp/dy/business/20081011TDY01302.htmcid=1255992539ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNFP5W9PKag4tHYU2v7xhDfQsvVwZQnobrThe Daily Yomiuri/nobr/anbsp;- a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://online.wsj.com/article/SB122363610847322687.html%3Fmod%3Dgooglenews_wsjcid=1255992539ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNGL8zfH8iE7yIvK0UZjzvFfOssjnwnobrWall Street Journal/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1255992539hl=ennobrall 382 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://time.com/time/business/article/0,8599,1849023,00.html%3Fimw%3DYcid=1255996111ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNH2EX0_hIMEOJuE_ltlmNQ2-c1AWwDespite the Turmoil, bInsurance/b Companies Appear Safe/abrfont size=-1font color=#6f6f6fTIMEnbsp;-/font nobrOct 10, 2008/nobr/fontbrfont size=-1Consumers could be forgiven for being jittery this week when news came that MetLife and The Hartford, two well known binsurance/b giants, had experienced huge b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.forbes.com/feeds/ap/2008/10/10/ap5536520.htmlcid=1255996111ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNEqf89Ba0_LpM_TtUIA41T7tfmMowSector Snap: bInsurance/b companies fluctuate/a font size=-1 color=#6f6f6fnobrForbes/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.nytimes.com/2008/10/10/business/10place.htmlcid=1255996111ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNHeojre33xbj5qIOwMcl3fxs9K8TQMarket Place bInsurance/b Industry Joins Banking Giants on the Hot Seat/a font size=-1 color=#6f6f6fnobrNew York Times/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://online.barrons.com/article/SB122350252742116839.html%3Fmod%3Dgooglenews_barronscid=1255996111ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNGtjhDdodROrgQ8FCoc9jN59nGb2AConsider Staking a Claim in Allstate/a font size=-1 color=#6f6f6fnobrBarron's/nobr/font/fontbrfont size=-1 class=pa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.straitstimes.com/Breaking%252BNews/Money/Story/STIStory_288533.htmlcid=1255996111ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNGRmF-RrCjat0reL9uVDtNj40TJYgnobrStraits Times/nobr/anbsp;- a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.forbes.com/feeds/ap/2008/10/09/ap5532725.htmlcid=1255996111ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNEuhs_-zTPuILo2J4AZVSQxHPr8BgnobrForbes/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1255996111hl=ennobrall 49 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.modbee.com/24hour/politics/story/460608.htmlcid=1256842309ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNF6vt1tQpoJJLZNo0nU0SK8CifQtAimg src=http://news.google.com/news?imgefp=O-VCHEPmKGMJimgurl=media.modbee.com/smedia/2008/10/10/13/USNEWSFLOODPLAINS1BL.embedded.prod_affiliate.11.jpg width=80 height=53 alt= border=1brfont size=-2Modesto Bee/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.courant.com/news/opinion/editorials/hc-miner1012.artoct12,0,2496392.storycid=1256842309ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNFt7zQnlkyVD_TYwWTc6kth75cXuQHow To Keep Flood Bailouts At Bay/abrfont size=-1font color=#6f6f6fHartford Courant,nbsp;United Statesnbsp;-/font nobr6 hours ago/nobr/fontbrfont size=-1By LAURA WILDMAN AND MARGARET MINER The National Flood bInsurance/b Program was established to help communities afford the cost of insuring against inevitable b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.bellinghamherald.com/255/story/601572.htmlcid=1256842309ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNFYXc_O7SJfC4uYidkvTSrxqD6M3gSpecies ruling could slow development along Nooksack/a font size=-1 color=#6f6f6fnobrBellingham Herald/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1256842309hl=ennobrall 17 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.chinadaily.com.cn/china/2008-10/11/content_7096731.htmcid=1256028374ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNHNPK_3CFDfj_kPVdielL-owmL2FAimg src=http://news.google.com/news?imgefp=DqexUCPCtEcJimgurl=www.chinadaily.com.cn/china/images/attachement/jpg/site1/20081011/0013729e42ea0a5a388804.jpg width=80 height=60 alt= border=1brfont size=-2China Daily/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.nytimes.com/2008/10/11/business/11credit.html%3Femcid=1256028374ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNEDR2jAyG0VR7gKJrMSXrizEvGjRwbInsurance/b on Lehman Debt Is the Industry’s Next Test/abrfont size=-1font color=#6f6f6fNew York Times,nbsp;United Statesnbsp;-/font nobr21 hours ago/nobr/fontbrfont size=-1David A. Paterson of New York, left, and Eric R. Dinallo, the binsurance/b regulator, want credit-default swaps regulated. Nearly three weeks after the Wall b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.globalresearch.ca/index.php%3Fcontext%3Dva%26aid%3D10535cid=1256028374ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNEKN0KtQbWLpY-avy-W28p8QdBmzwThe Next Derivatives Bloodbath: bInsurance/b Companies and Auto Makers/a font size=-1 color=#6f6f6fnobrCenter for Research on Globalization/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.venturacountystar.com/news/2008/oct/12/unregulated-swaps-seen-as-big-factor-in-wall/cid=1256028374ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNHGydm_dlYz2D_6OsZPGXN3RfkB7AUnregulated swaps seen as big factor in Wall Street collapse/a font size=-1 color=#6f6f6fnobrVentura County Star/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.forbes.com/business/2008/10/10/lehman-bonds-banking-biz-wall-cx_lm_1010auction.htmlcid=1256028374ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNFe95toiLKqIZNK-vgWBkhsrfiSogLehman Auction Leaves Cloudy Picture For Banks/a font size=-1 color=#6f6f6fnobrForbes/nobr/font/fontbrfont size=-1 class=pa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.independent.co.uk/news/business/news/traders-worst-fears-realised-at-lehmans-auction-957953.htmlcid=1256028374ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNEsSoGIIsdENromt4q-DNAAI0GUpAnobrIndependent/nobr/anbsp;- a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.todaysfinancialnews.com/investment-strategies/credit-default-swaps-a-blind-date-goes-wild-4718.htmlcid=1256028374ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNFv8HZVv6WEbA3588V-lk8no0DcngnobrTodays Financial News/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1256028374hl=ennobrall 236 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.wwj.com/Michigan-Bank-Shutdown/3117833cid=1256248304ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNHV7O3aIHrlfM_kKpuj3pp4B7-rYwimg src=http://news.google.com/news?imgefp=yqdDfITJELQJimgurl=imgsrv.wwj.com/image/DbGraphic/200810/1084888.jpg width=80 height=65 alt= border=1brfont size=-2WWJ/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.thestreet.com/story/10441964/1/two-more-us-banks-fail.html%3Fpuc%3Dgooglen%26cm_ven%3DGOOGLEN%26cm_cat%3DFREE%26cm_ite%3DNAcid=1256248304ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNH1EapIKjUZHcZ3oe8LV44mmiw0fgTwo More US Banks Fail/abrfont size=-1font color=#6f6f6fTheStreet.comnbsp;-/font nobr22 hours ago/nobr/fontbrfont size=-1The Michigan Office of Financial and bInsurance/b Regulation shut down Main Street Bank of Northville, Mich., and the Federal Deposit bInsurance/b Corporation was b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.bloomberg.com/apps/news%3Fpid%3D20601087%26sid%3DaqNGxkgoO5Hc%26refer%3Dhomecid=1256248304ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNEa6Temgu7ZCEUPUuMkeyeiUY21YAIllinois, Michigan Banks Shut by Regulators; Toll Climbs to 15/a font size=-1 color=#6f6f6fnobrBloomberg/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.chicagotribune.com/business/chi-sat-meridian-bank-oct11,0,4556722.storycid=1256248304ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNHkWZIjs_F8lGaKEGJrJWT-ssFp2gMeridian Bank is closed by regulators/a font size=-1 color=#6f6f6fnobrChicago Tribune/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.freep.com/article/20081011/BUSINESS06/810110303/1019/BUSINESS06cid=1256248304ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNHaa1I78cng5gMySNuGwjRq3Y1mLgRegulators shut Main St. Bank/a font size=-1 color=#6f6f6fnobrDetroit Free Press/nobr/font/fontbrfont size=-1 class=pa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.reuters.com/article/ousiv/idUSTRE49995320081011cid=1256248304ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNH3Fn1vQrsjnVbFjKFTYTr3c53m2AnobrReuters/nobr/anbsp;- a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.thepeninsulaqatar.com/Display_news.asp%3Fsection%3DBusiness_News%26subsection%3Dmarket%2Bnews%26month%3DOctober2008%26file%3DBusiness_News2008101283659.xmlcid=1256248304ei=SP_xSN3BK43W6gOC2smwAwusg=AFQjCNGYzPD4hC6GWZXBisSiB4phZnfzPAnobrPeninsula On-line/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1256248304hl=ennobrall 93 news articles/nobr/a/font/div/font/td/tr/table
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