Medical Billing Companies Can Be Profitable

When your company starts to grow, you'll envision ways to make an even greater profit. This is what all business must do to stay not only solvent, but competitive in the marketplace. Some types of industries are just more profitable than others. If you're looking for ways to improve the profitability of your medical billing company, then you can follow the example of other larger companies within your industry and others.

For example, one way to improve profits is to cut costs. This sounds simple, but over time, bad habits and poor systems can lead you to a place where finding areas to cut can be difficult. Do you cut employees and downsize to be a more 'lean and mean' force, cut your rent and other utility expenses or other flexible spending areas? For that matter, is cutting costs in these areas the best way to be more profitable at all?

If there is one comment that can be made about medical billing companies it is that personnel is key. In other words, having just a few great employees is better than having many lesser productive ones. Medical billing specialists you might call them.

When it comes to this industry, your clients - mostly HR and CFO employees of larger companies - are looking for ways to make their medical billing more efficient and error free. This is what will make them more money in the end as well. Their profit is your profit as you'll likely be paid on a percentage of fees collected or some other arrangement where you will benefit from filing very accurate and timely claims.

Since the future is always here when it comes to electronic means, filling this way also saves costs and can reduce error rates. By having an electronic billing software program, you can cut your personnel issues with having to process manually. This is really the key to managing costs, reducing errors and exceeding your customer's expectations when it comes to medical billing companies.

Medical Billing and Coding Service - Do You Know All the Services You Can Expect From Them?

Medical billing services are a blessing to medical practitioners that are hard-pressed for time and resources. They take over the burden of billing and related administrative tasks from the healthcare provider and increase their revenue. Medical billing services are quickly becoming the industry standard because of the many advantages they offer.

Medical billing services offer both claim submissions and comprehensive practice management solutions. Generally, small organizations that are either home-based or small scale offer only simple billing services. Larger practice management companies offer comprehensive packages that promise long-term benefits for the practice. These services can offer anything from advertising to scheduling assistance, and much more.

Depending on your organizational needs you can hire a provider who offers suitable services. The services are broadly categorized into standard services, extended services and practice management services.

Standard billing services

These are the minimum any medical billing provider offers. These include:

Claim submissions: Billing providers use medical billing software to submit claims. The patient demographics, encounter data, and insurance details are entered into the application that is programmed to validate the claim for accuracy. Accurate claims reduce the chances of claim rejection by the insurance company. The validated claim is submitted to the insurance company electronically within 24 hours.

Regular follow-up of claims: This is where medical billing providers prove their mettle. They follow up on the claim aggressively and tenaciously. The medical practice reaps the rewards of this strategy by receiving more payments on time.

Analytical reporting: Billing services capture and project key statistics in monthly reports. The reports can help business heads of the medical practice take steps to improve the growth, productivity and cost-savings in the establishment.

Patient billing and enquiries: Billing services take care of the logistics of the billing function, and assist in patient enquiries.

Extended billing services

These take on responsibilities that are not directly related to the billing process. They include:

Diagnosis and procedure coding: Billing providers do the medical coding for the patient record before it is entered into the medical billing software application.

Medical transcription: Medical transcription is done before the medical coding stage. Many billing providers offer transcription as an administrative service.

Credentialing insurance companies: Credentialing services are a real help to new medical practices. Billing providers evaluate the license, credibility, background and performance history of insurance companies, and initiate a relationship with them for the medical practice.

Dispel Confusions by Attending Emergency Medicine Coding Conference

If a particular doctor provides a new patient with a standard office-visit E/M, can you use an established patient E/M to code the encounter?

Well, this is not the right way to go about. If you do so, your practice could be in for disappointment. What's more, Medicare's doing away of consultation codes means that coders will have to answer the new versus established question more than before.

For Medicare payers, and payers that follow their lead, E/M coders will have to select the right code, new or established to bill for what used to be consults and didn't have a new versus established, to bill for what used to be consults and didn't have a new vs. established component concept.

Do not get the doctor steamed; nail the patient's status every time by following this piece of advice on new and established patients.

For family practices coding, the main difference between new and established patient codes is the payment rate.

Ask three-year question first

If your patient has had a face-to-face service with the FP within the last three years, then the patient is established.

Face time a must for established patients

What does a coder do when the patient has got treatment from the doctor within the last three years, however the physician didn't actually see the patient? This is a different coding situation.

As an emergency medicine coder, you will encounter situations relating to such as this at regular intervals. So if you are to avoid tricky situations regarding new and established patient encounters and ensure the cash keep flowing, head straight to Orlando, FL this December for an emergency medicine coding conference.

Officials Delay Red Flag Rules Until December 31, 2010

The Red Flag Rules were initially intended to be enforced starting June 1, 2010 but members of Congress decided in a press release issued on May 28th, 2010 to have the Federal Trade Commission (FTC) announce that it would delay enforcement of the Red Flag Rules until December 31, 2010.

Although this was communicated by the FTC on May 28th, 2010, it is recommended that your practice be forewarned as enforcement on these rules could still start before the end of the calendar year.

The reason for Congresses delay is due to the fact they requested another delay in the enforcement timeline because they are still working on the legislation to limit the rules and regulations surrounding the Red Flag Rules. Based on information released by the FTC, "a limited further delay of the rules area justified so that the FTC does not begin to enforce a regulation that Congress plans to over-rule." It is essential to know though that the FTC has stated it will start enforcement before the end of the calendar year if Congress passes a law with an earlier effective date.

The House of Representatives unanimously passed H.R. 3763 on October 20, 2009, which is a bill that would automatically relieve physician practices with 20 or less employees from the Red Flag Rules and allow other practices to request an exemption from the FTC. The bill was introduced to the Senate Committee on Banking, Housing and Urban Affairs on October 21, 2009 but the Senate did not introduce the bill until May 25th, 2010, and no one has voted on it.

The Red Flag Rules requires all creditors, or those who provide goods and or services and allow customers to pay later (i.e. an example is when a medical practice renders service, files the claim and then finds out the patient has not met their deductible and therefore the patient is responsible for that particular date of service and billed accordingly) to implement an Identity Theft Prevention Program. The intentions of the rules are to protect consumers from identify theft by requiring businesses to show they can protect sensitive financial and personal data. Under this definition, the FTC considers most physician practices to be creditors and therefore expects them to implement the necessary procedures and processes to comply with the Red Flag Rules regardless of when they are implemented.

How Much Money Do Medical Billing and Coding Assistants and Specialists Make? - Salary Range

If you're thinking about entering the field of medical billing you'll find it's part of one of the fastest growing industries - healthcare. People will always need health care. And there is so much demand for good healthcare today that health facilities, hospitals, clinics, doctors and other health professionals are overwhelmed. To handle all the billing and claims they have to hire medical billing assistants or billing specialists or turn the billing work over to large billing services or small home business billing services. The same goes for medical coders although they have a separate function and separate training. They provide the codes before it goes to any medical billing services.

The salary range is dependent on how much education or experience you have in the billing field. If not in the billing field then related experience to billing will be taken into account by some companies. You may actually be able to work into this area if you're lucky enough to already be working for one of these billing services or companies.

But more than likely you'll not have that opportunity. The another options is to get some medical billing training and approach the large and small billing companies with your resume to pursue a job or career in the field. Another other option is to start up a home business if you're so inclined but you must feel confident you can do the work if you only have the education but haven't had any experience in the field. I do know a woman who has done this - started a medical billing business from home and did heavy marketing to get her first doctor client and then the doctor was so happy with her billing work that he referred her to other doctors. So yes this is a possibility but not as likely. There is an investment in the software to consider plus the expense of starting up a home business, etc.

So the hourly rate for jobs for billing assistants can start at about $10 an hour depending on the company. Once you have a lot of experience under your belt you'll move up and the experience will help you get a higher salary. You can work up to an hourly rate of $35 to $40 an hour. Medical coding salaries are comparable to biller's wages or salaries.

If you're serious about medical billing as a career you may want to become a Medical Billing Specialist. To become a specialist you'll need to take a national exam for certification. But many medical billers get jobs without this certification. So it's not required. And if you decide you want to start up a home business and work from home it won't be needed.

So the salary range is good and the more education and experience you have will help you get a higher salary for both medical billing and medical coding. Make sure to check out any schools thoroughly and watch out for scams. Financing is available in the form of loans and surprisingly there is federal aid for online courses, online classes, and online programs.

Low Cost Auto Insurance For Young Drivers - How to Find Cheap Online Car Insurance

By law, anyone who is driving a vehicle on the road is required to have a certain level of auto insurance protection. And while you may believe that your driving skills are good enough that you should not have to get coverage for both yourself and your vehicle, often when there is an accident involving your vehicle it is most likely going to be the other parties fault. Even in situations such as these you are going to need insurance coverage and for younger drivers this can be expensive. This is why you need low cost auto insurance for young drivers.

Shopping for insurance these days has become much easier than it was in the past. Gone are the times where you had to make countless calls or even visit each companies office, talk to one of their representatives and give them all sorts of information so that you can just get a quote from them. Now, with the power of the internet at your finger tips you can simply go online and in just a few moments you can quickly and easily be able to get numerous quotes from several different companies. This not only saves you time, but will more than likely save you a significant amount of money if you are looking for low cost auto insurance for young drivers. Here is how you can save money.

The main benefit the internet has over the local companies is because of all of the competition these companies have to fight with to get your business, they will constantly try to give you just a little bit more coverage for just a little less than the other guy is quoted at. Just remember, a low price does not always mean good coverage. Take the time and actually look over what they are going to offer you and compare them to the other companies out there to ensure you get low cost insurance with the right cover.

Another great benefit to using insurance companies you find online is that they often have 24 hour customer support waiting to either answer your questions or to help you with a claim. This is a very important thing for most of us these days. It makes us feel as if the company is willing to take care of us in the event something should happen and you are involved in a car accident. Accidents do not happen during office hours!

Go online, provide information like the make and model and year of your car, and some basic information about yourself a s well and they should be able to provide you with numerous quotes in just a few moments of your time. If you want low cost auto insurance for young drivers get online and get cheap car cover now.

Worthwhile Discounts on Car Insurance

Nobody likes to pay for car insurance, but it's a necessary part of staying on the road and driving safely. All states have laws against driving uninsured, and most drivers buy a bit more than the bare minimum amounts of coverage that their states require. The cost of auto insurance can quickly add up over the course of a year, which is why many drivers look for special insurance discounts that can lead to lower premiums.

Most car insurance companies offer a variety of these special discounts, but they're all offered to drivers who are able to reduce their risks of making a car insurance claim. For instance, if a driver takes a special safe driving course, many car insurance companies will offer that driver a discounted rate. This is not always the case, and many insurance companies have very specific requirements that a driver must fulfill in order to qualify for this particular discount. Most insurers will also restrict this "safe driver" discount so that only certain driving courses count--in other words, a driver will need to check with his insurance company to find out which classes to take in order to get lower car insurance rates.

Another common type of discount is the anti-theft discount. This is designed for drivers that reduce the risk of theft, and it's usually only available to drivers who buy comprehensive coverage. This is because "comprehensive coverage" is what covers the cost of a stolen vehicle. To get an anti-theft discount, a driver may need to install a car alarm or a similar anti-theft device. The auto insurance company will often require proof that the anti-theft device has been installed. Drivers may also get discounts for parking in locked garages, as this further reduces the risk of claims against drivers' comprehensive coverage.

There are many other discounts, and they're always based on the driver's relative risks. Young drivers can get discounts for getting good grades in school, and in many states, drivers can reduce their rates by driving fewer miles. Some car insurance companies even offer customer loyalty discounts, although this specific type of discount has become illegal in several states.

The best way to find out about the discounts offered by your insurance company is to call your insurance agent. Ask what you can do to get a lower premium and reduce your rate, and be sure to check online for other insurance quotes from time to time. You'll lower your premiums quickly by keeping yourself and your car safe.

Introducing Women's Car Insurance

When it comes to car insurance for women, there is little doubt that insurers treat women differently than they do men, although this fact is not published openly. It's actually in the woman's favor however that this happens and they will typically pay less than the average man when it comes to the monthly insurance bill.

There are several reasons why this is so, but it basically boils down to the fact that a woman is much less likely to take a chance, or 'race' their cars than the average guy. While it is true that there are plenty of daredevil women out there who feel the need for speed and the thrills of pushing the bar, but by and large, a guy is much more likely to do so on average than a woman. It's statistically proven that women are much safer drivers than the men are.

It's not necessarily that one gender is better at driving than the other. It's just that it seems that most men are predisposed of taking risks. One way of looking at things is to take a look at the race car circuit. It's not that women are banned from the sport it's just that more men are willing to take the risk involved in being a race car driver than their female counterparts.

There is a difference between drivers that are skillful and those who are safe drivers. That's why you will typically find that car insurance for women will cost less money. Other reasons are the root cause of this fact as well.

For instance, men are typically more aggressive and prone to 'road rage' than women, and seem to take on the 'me first' attitude when driving, meaning they want to lead the pack in a line of traffic and will take chances at passing vehicles on the road in order to get in front.

Understand now, that there is no exclusive way to differentiate any one driver from another without looking at each person individually. This leaves the insurance companies to rely solely on traffic and accident statistics when setting their rates and taking risks on those that they insure. It doesn't appear that car insurance for women is going to cost more than that for men anytime soon.

The best way men can work to bring their car insurance premiums down is to drive safe and maintain a good driving record.

Ways to Decrease Your Rates After a Vehicle Accident

When you are involved in an car incident it can be typical that your particular premiums will rise. The amount of increase depends on your insurer and whether or not you caused the accident. Most often following an incident you will be labeled by your insurance plan provider as being a 'high risk'. This can be avoided. You've the power to keep your prices low. Enclosed in this article are the methods which you can use to keep your rates low after an accident.

You have the power to keep your rates from changing too much. All you have to do is to stand up to your insurance provider.

The accident wasn't your fault? Rates have increased anyways? Do this:

Letting your present provider know that you will not be punished mainly because the crash wasn't your fault. Don't be afraid to put your foot down. Make sure that your provider hears you loud and clear, and understands that if your rates are not lowered you will be more than capable of getting your requested rate elsewhere.

Another option available is to as about any new discounts that have recently become available.

When you are fault-less in an auto accident it is easier to have your rates returned to their pre-accident levels. Insurance companies are businesses who compete with one another. When you threaten to give your money to another company they usually are much more likely to re-evaluate their stance on your case.

Being at fault in an accident will make it more difficult to return to pre-wreck premium prices. You may be able to find some relief by speaking with your provider and re-negotiating your contract. If that fails to produce lower rates, there are other options. Possibilities for lowering your insurance policy prices after a car accident are reduced based upon conditions in which it developed. During the accident if you were found to have been intoxicated, it is going to be extremely difficult for you to return to the low premiums of your past. A case of DUI/DWI labels you automatically a 'high risk' and your rates will skyrocket, that is if your insurance provider doesn't decide to cancel your policy all together. If you only have a higher premium afterwards you are lucky.

If you have many traffic offenses and accidents you may also be classified as a 'high risk', and therefore your rates will be higher than average. After which, you will be required to not have an accident for a specific amount of time if you want a lower premium. Even when prices are re-lowered it still may not be enough and you might have to shop around in order for them to be lowered to where they once had been.

The most efficient method for keeping your insurance rates low is of course to keep a spotless record. If an crash does occur, it is essential that you are armed with the various tools and information that will get your costs lowered again. Changing indemnity suppliers is always a choice which will save you money as long as you shop around for your coverage needs.

Look After Your Possessions With Student Insurance

When you decide to go to university, you'll probably be thinking about your course, making new friends and, of course, where you're going to live.

Obviously these are all important considerations but have you thought about what you'd do if you were burgled and had some of your most valuable possessions stolen?

Buying student insurance should be on your list of things to do before you start the new semester, right up there with buying your books and packing your bags ahead of the journey to university.

If you're thinking that you don't have anything particularly valuable then you should think again.

All your favourite gadgets - MP3 players, cameras, laptops - can add up. Research from uSwitch suggests that the average UK student has approximately £4,000 worth of possessions.

When you consider that having a computer or laptop stolen could also seriously impact your studying, then you start to understand just why student room insurance is so important.

As a student, chances are you'll be on a pretty tight budget. But that needn't stop you from getting the right level of cover.

You can tailor your student insurance policy to make sure that it will protect your valuables but that you aren't paying out for unnecessary extras.

A basic student insurance package will cover things such as laptops and cameras, but what if you've got some specialist equipment that you need for your course?

Well, don't worry, you can always get a top-up of your cover to make sure that items such as musical instruments are not just protected in case of theft, but also accidental damage, giving you complete peace of mind.

Another extra option when it comes to student insurance is cover for a bicycle. For a slightly higher monthly premium, you can get cover for your wheels, meaning you won't need to worry about paying out to replace your bike if it gets stolen or damaged.

Tailoring your student insurance policy to ensure you are only covered for what you need will not only help you settle into your new home, but will also allow you to keep your premiums at a manageable level.

iPhone Insurance - What is Fully Comprehensive Cover?

Getting your iPhone insured is a great way of adding peace of mind to your lifestyle. With the cover in place you can go out and do whatever you like and not have to worry about damaging your phone. You can have a good time and it doesn't matter if your phone gets damaged or lost in the process.

So what exactly is fully comprehensive cover? Quite simply it means that your iPhone will be covered against accidental damage, liquid damage and theft. So if you're out one night and a drink gets spilt on your phone, don't worry, it's covered.

Even if your handset gets stolen by someone, that doesn't have to be the end of a good night. All you need to do is contact your local authority and report the handset as stolen. You can then make a claim against the insurance and you'll get a replacement handset delivered to you.

Fully comprehensive cover means you can enjoy your life and not have to worry about your iPhone. Sometimes you might find yourself constantly checking your pocket to make sure your phone's OK. This can soon distract you from actually having a good time, relaxing and enjoying yourself.

A fully comprehensive cover allows you to concentrate on your life. If anything does happen to your phone you won't have to fork out a lump sum of £500+ to get a new handset. In a worst case scenario you'll be without a phone for a maximum of 2 days. That's just 48 hours before you get a replacement handset

Bike Insurance Online

Apart from the car insurance policies, people are also interested in two-wheeler insurance today. These bikes are the choice of the new generation. These automobile vehicles are known for their speed and better fuel consumption. Due to these popular reasons, these bikes are very much liked by the young people. However, these bikes are more risky than any other automobile vehicle. Therefore, a greater care is taken to provide bike insurance. As a matter of fact the governments of all the states under the United States lay more emphasis upon these two-wheeler insurance policies. No risk is taken in the process and no compromise is also granted in these bike insurance.

There are many formalities that are taken before granting to two-wheeler insurance to the applicants. The higher rates of road accidents make these bike insurance more important than anything else. The authorities are more caring towards these highly sensitive bikes as they show sharper rates of accidents all over the world. All the users of bikes are made to accept and buy these policies at any rate. As per the existing rules of the roads everywhere, all the bikers are supposed to have these two-wheeler insurance policies even before they are supposed to take their bikes on the road.

Have you purchased a new bike or wish to have one, then you must obey the requirements of the traffic rules, which essentially include these high value bike insurance. It is absolutely necessary to carry the documents related with this two-wheeler insurance policy. As these motor vehicles cover more risk on the roads, therefore the formalities are also very high. These insurance policies are available at higher premiums and therefore, they are always very expensive for the bikers to buy. However, there is no other option left.

If you wish to find two-wheeler insurance easily, then you can go for bike insurance online. Most of the popular and successful companies are available on the Internet. These companies offer cheaper and affordable policies to the interested bikers. As a matter of fact, these highly sensitive motor vehicles are very popular among the people and therefore, these policies are in great demand all over. You can find these companies on the Internet also ask for their online quotes. These quotes help you to get a comparative evaluation of these policies.

Getting Your Jewelry Insured

Although it is possible that some of the jewelry insurance can be provided by home insurance, you may also have a separate insurance if the value exceeds from the one established by other policies.

Go to an independent jewelry. Make sure that each object is examined, described and its value is on paper. Read to find home insurance is included in this amount. Best insurance will cover loss, theft and damage. Note that the amount paid for jewelry insurance is different from state to state, and you can choose with or without insurance deductible tax.

Talk to your agent to add a clause in your insurance to protect jewelry that exceeds in the house insurance. You can also ask and a separate insurance for jewelry. You can choose a separate insurance for jewelry. Compare all offers of insurance and each company 's reputation, and choose the one that offers the highest compensation for money and give the most flexible in case you need to replace the jewelry.

Tips

* When determining the amount for the home insurance do not forget to calculate the deductible amounts. After these are paid, you will receive full value of jewelry.
* In addition to insurance you can buy a safe deposit box to keep your jewelry safe.
* It is important to have pictures of stolen jewelry because the parts can be reproduced on the basis of good quality pictures.

Gadget Cover For Technology Products

With phones such as the iPhone 4 currently on the market it can be all too tempting to fork out for these extremely expensive little gadgets so that you're up to speed with the crowd. The problem I find is that although I love expensive gadgets I am a little clumsy. Like many people I get too complacent and begin to leave it lying around or in my pocket only to be thrown on the floor by mistake. With a cheap phone although this is annoying it isn't the end of the world as you can replace it. The problem with items like the iPod or the iPhone 4 is that these are extremely expensive pieces of technology which I would expect most people had to save up for to be able to purchase in the first place. Objects like these are not easy to replace unless you're very financially secure.

I've written the following article to inform people of a great way to protect your new gadget and still have plenty of fun. I hope my advice helps.

I would recommend purchasing gadget cover for your new piece of technology. I must admit, until recently I'd never heard of gadget cover but it's a great way to protect your gadget. For only a couple of pounds a month you can make sure that if you ever lose or drop your gadget you can replace it easily. This cover also protects you against theft too.

Gadget Insurance really will enable you to purchase any item of technology without the concern of not being able to replace it. Before getting any type of insurance or cover I would suggest using a comparison site so that you can find the best possible deal. Along with this I would recommend getting voucher codes to save money on your cover!

Loan Insurance - All You Need to Know

Most people are required to take a loan of some sort or the other, at various points of time in their lives. Most of them are also plagued with the fear of being unable to pay their monthly loan repayments due to some financial crunch. But now they don't have to feel scared because they can make use of the loan insurance concept that is slowly catching up all over the globe.

Loan insurance is a kind of a protection insurance that you can undertake to safeguard yourself against inability to make monthly loan repayments. It is a form of payment protection insurance that you can undertake to help cover you when you are unable to make your loan repayment due to some kind of an illness or an accident. In most cases, this insurance is taken up to cover home loans, personal loans or even car loans.

Advantages

In case of a personal problem or tragedy, you can be sure that your loan payments will be made, thanks to the insurance on loan coverage you have. People who suffer from sickness, loss of job, accident, death or any other kind of disability, leading to inability to pay the EMI's on loans taken will benefit greatly from this kind of insurance. With your insurance taking care of your loan monthly repayment, you no longer have to be worried about the pressure being put on your family.

There is an option to undertake joint loan insurance by those who have taken up a joint loan application, giving you and your partner coverage at the same time. This scheme is very effective for partners as there is a constant reassurance that if either of the partner is taken ill or is involved in an accident or passes away, the repayments on the loan will be made on that person's behalf.

Now the question arises on the types of loans that are covered under the loan insurance. In most cases, an insurance on loan is usually provided for borrowers of home loans. But certain banks are known to provide the insurance on auto loans as well as other personal loans.

Insurance Premium

Like any other kind of insurance, premiums are required to be paid in the case of this type of insurance as well. The amount of premium charged will differ from bank to bank. Very few banks even allow the insurance to be taken without the requirement of a premium to be paid.

The amounts of premiums that are charged on insurance for loans depend upon certain factors such as the age of the insurance holder, the amount of loan being insured, the medical record of the person taking the loan etc. The higher the person's age, the higher will be the premium. Similarly, a higher loan amount being insured will lead to higher premiums being charged. Also, if the person' medical records show a good status, a lower premium will be charged on the insurance. A serious ailment or a poor physical record will automatically rise up the premium amount.

Quick Settlement Through Endowments Selling

Are you the recipient of an endowment policy? If you are, the amount of time before the settlement matures may be too long for you. You may have an immediate need, and there is no way for you get the money right away. In case of emergencies or whenever a need presents itself, there will be no way for you to capitalize on your settlement. This was in the past. Now, you can make use of endowments selling.

We all know how these policies work. You will have to wait a considerable amount of time for you to enjoy the benefits. You have to wait for a number of years before you see any money. True, your future is secured, but you will have to wait for this time to come. Sadly, you never know when emergencies may come. No one wants to be stuck in a situation wherein you have no options.

These insurance firms may have the option to let you collect your settlement at an earlier date. However, the value of the settlement is too low for you to accept. The amount may not be enough to take care of the immediate need. Furthermore, the amount may not be enough to cover the initial investment of the policy. Cashing out early is just not worth it.

Through endowment selling, you are presented with much better options. With this option, you get a much higher value for your policy compared to the surrender value of these insurance firms. Compared to surrendering your policy, the amount you get from selling is much greater. This simply means that you get to take care of situations like emergencies in a much better way.

In today's troubled times, there is a greater need to have ready cash at hand. However, due to the financial crisis, there is just not enough ready cash to come by. This is when we have to make use of endowments selling. This presents us with options to take care of situations that need ready cash at hand. This way, you are always on your guard.

You may ask yourself how much more will you get from selling your policy? The value varies from policy to policy. However, it is still much larger than what the insurance firm has to offer for a surrender value. There are some policies that sell for 30% more compared to surrendering the policy. As you can see, the amount is much more significant.

Why are these policies purchased? Firms purchase these policies to gain more from their investment in the long run. This is why endowments are in demand. However, you have to understand that there are endowments that are more in demand compared to others. It is not the same for all policies.

Oregon Long Term Care

The Oregon Office of Economic Analysis reported that the state's senior population (age 65 and older) will double in less than 20 years. The overall population will have swelled by 47 percent; thus, the 65-plus age bracket will grow twice the previous years.

Concurrently, the funding for long term care in Oregon has declined though the demands for LTC increased dramatically. The state has no standardized financial infrastructure that will foster the growing demands of elders for long term care services.

Home and Community Based Services Setting

Home and community-based services are much advantageous compared to institutionalized care. The costs are less expensive than nursing home care or assisted living, helping Oregon taxpayers save more dollars to fund their long term care and other needs. However, the costs of home-based care have risen at levels unexpected by many. Based on Genworth's Financial's 2010 Cost of Care Survey, the home health aide services rise by 36% OR/WA- Portland-Salem while nursing home rates soared up to 8%. The increment in the rates of home-based care is noticeably higher than institutional care, leaving caregiving families all the financial constraints. About 80 percent of Medicaid funds are divvied out for nursing home care, so a lot of elders are pushed to spend down costs for home-based care.

Alongside the debilitating costs of home-based care services, the publicly-funded Medicaid is unreliable in helping residents ease out the problems of long term care; instead, it makes the problem become worse. Medicaid can Oregonians pay for LTC services provided that they have no more than $2000 assets to avail the state's financial assistance program. The Senate Bill 1919 (ch 486) was passed during the 74th Oregon Legislative Assembly in 2007. This bill was approved by the Centers for Medicare and Medicaid Services which enables Oregon's Medicaid program to adopt the Long-Term Care Insurance Partnership Act. The Oregon Long-Term Care Partnership Program became effective on January 1, 2008.

Oregon Long Term Care Insurance Partnership Program

The Oregon Long Term Care Partnership is the recent reform established by the State of Oregon and private insurance companies. This program is a collaborate by two state agencies: the Oregon Department of Human Services is responsible for the Medicaid program in Oregon; while the Insurance Division under the Oregon's Department of Consumer and Business Services supervises the participating companies to market long term care insurance policies in the state.

The difference of partnership policies is significantly better than of regular policies offered by private insurers. This program provides the most sought-after benefit of asset protection that allows policyholders to protect assets should they apply for Medicaid financial assistance. The amount of assets that can be retained is also the same as the amount of benefits that a person get from Medicaid.

LTC insurance policies that adhere to partnership requirements are called Qualified Partnership Policies or QPP. All partnership policies must meet the following federal requirements:
Inflation Protection - Inflation protection depends on the age of policyholder at the time of purchase. This helps policyholders to save from the increasing costs of care annually.
Tax Qualified - As defined in section 7702B(b) of the Internal Revenue Code of 1986, the premiums paid for partnership policies may be deducted from state and federal income tax returns. However, the benefits from partnership policies are exempted from taxation.

Pennsylvania Long Term Care

In Pennsylvania, there are various means to address long term care needs through either home and community-based services or institutional care. Meanwhile, the number of people needing LTC has increased over the years, and this indicates the greater demand for such care in the future. The Bureau of Census reveals astounding figures of the Pennsylvania's senior population aged 65 and older that rose up to 63,000 or 3.3 percent from 2005 to 2010, the increment is almost thrice the rate of the overall population growth of 1.2%. From 2010 to 2020, the state's population of 65 and up is projected to grow. The Bureau of Census gauges the growth of senior population to about 510,000 or 27% as baby boomers will make up the the increase in this age group.

Medicaid is a health financing program that pays for LTC of eligible low-income Pennsylvanian residents. However, Medicaid program has its share of complexities that most taxpayers rage about as it is not as effectual as they have thought. More than 200,000 senior Pennsylvanians are enrolled in Medicaid with the hopes of getting financial backup for long-term care. Medicaid. Unfortunately, Medicaid does not pay the overall long-term care costs, and accommodates most ow-income individuals. An individual should have not more than $2,400 worth of assets to become eligible for Medicaid. Uninsured individuals are prompted to pay expenses out-of-pocket, or, if all else fail, wait for their resources and assets to reach the asset limit of Medicaid. As long term care costs rise each year and Medicaid program seems repressive, Pennsylvanian seniors are on the verge of bankruptcy and debt as those factors hamper them from getting humane and decent home care services. It's been critical for many individuals to plan for their future since this planning entails massive wealth. People are torn between purchasing long term care insurances or spending down their assets to qualify for long term care; however, the state has implemented programs that will solve these problems.

Pennsylvania Long Term Care Partnership

On July 17, 2007, Act 40 was established creating the Pennsylvania Long Term Care Partnership. It is an alliance between private insurance companies and the State of Pennsylvania, through the Pennsylvania Insurance Department. This program was also meant to comply with the Deficit Reduction Act of 2005, a nationwide effort to reduce Medicaid expenditure on LTC. Studies show that total Medicaid spending for the fiscal year 2007 was $16 billion, where 40.2% of the total spending went to long term care for nursing homes. Moreover, the partnership program is established to promote the sales of private LTC policies to help residents of Pennsylvania finance their own long term care needs.

Partnership Policy Features

All participating insurance companies are required to follow the federal requirements when issuing partnership policies. Partnership policies must incorporate the following features:

Asset Disregard - This is also known as the dollar-for-dollar asset protection. This helps policyholders to protect their assets regardless of what Medicaid has imposed on maximum asset limit. Through this, people are not compelled to become impoverished only to avail Medicaid coverage because this feature allows them to keep their assets equivalent to their total benefits.

Inflation Protection - Policyholders of partnership policies need not worry about the increasing costs o fLTC since they have inflation protection. The percentage of this protection depends on the age of the person. So the younger you are, the lower are the premium rates will be.

Tax-Qualified- Insurance benefits are non-taxable. This policy allows you to get a portion of the premium paid as tax deduction, but your medical and dental expenses should not exceed 7.5 percent of your gross income.

Rhode Island Long Term Care

The 2007 US Census shows the current population of Rhode Island that hit 1,045,570. Around 130,730 or 13 percent of the population are comprised of elders aged 65 and above. The population of seniors rise incessantly each year; thus, the state government is alarmed of the possible effects on health and welfare. Many private and public communities have come up with several programs that will bolster education for seniors about aging and health. The state government also devised programs for the elderly to help them achieve decent and worry-free retirement years.

Programs for Elderly in Rhode Island

One of the well-known programs that aims to further long term care in the state is the Rhode Island Fall Prevention Partnership. Its name addresses the common problem: fall is the most susceptible season for the occurrence of medical disabilities. This program educates seniors how fall can seriously affect their health and ruin their lives. It is sponsored by the Long Term Care Coordinating Council and has expanded to different foundations, associations and councils whose main objective is the care of the elderly in the state of Rhode Island. The state government also support this program, including the Rhode Island Department of Elderly Affairs and the RI Department if Health.

Another program that is better known yet is the government funded Annual Medicare Enrollment Event. It is an annual event that gathers all agents and seniors to meet at a plaza. This is considered as a group therapy for people rather than the promotion of Medicare Prescription Drug Plan, since many people do not want to get the latter's program either for themselves or for their loved one. Participants in this program are also looking for insurance plans as they mingle and speak with some group of agents and policyholders as well.

The two above-mentioned programs are only part of the many programs plotted by the Rhode Island government for the elderly. Although both programs appear as self-serving, they still enlighten the minds of many Rhode Island residents about the benefits of planning for their future and getting long term care insurance. These programs have attracted so many residents who are decisive in purchasing LTC plans, in fact, the number of residents with LTC plans have increased since these programs were promoted. When more and more residents purchase LTCs, the costs of these plans became suitable to all the residents of Rhode Island regardless of the state where they come from.

Rhode Island Long Term Care Insurance Partnership Program

May 15, 2007 is official approval of the Rhode Island Long Term Care Insurance Partnership Program. This program serves as benchmark of effective long term care plans that aims to prevent residents from squandering half or more than half of their assets to avail Medicaid coverage. Applicants need not be "impoverished" or "poor" to qualify for Medicaid benefits, since the funds allocated for Medicare directly come from the blood and sweat of many American tax payers. This will benefit both existing and potential policyholders from becoming eligible for Medicaid benefits although they have used up all the benefits. Through this, Rhode Islanders will save their lifetime savings and lead a happy and sound retirement years.

Oklahoma Long Term Care

The Genworth Financial names Oklahoma as the sixth state with wide choices as well as the most affordable nursing home services in the entire United States. The results are based on the recent study of Genworth Financial's Choice and Affordability Index.

Based on reports, nursing homes range $48,000 and above a year stay in Oklahoma, and the costs continue to rise sharply over the five year period. The rates are found highest in Oklahoma City. Meanwhile, the hourly rates of Medicare-certified home health aide have escalated in the last five years. It is disheartening for care-giving families who are compelled to spend down large money of at least $89,378 a year for home care services.

Most taxpayers and all residents believe that Medicaid and Medicare would cover the expenses for long term care. Ironically, these publicly-funded programs do not cover long term care and leave the burden on the shoulders of Oklahomans and their caregiving families. The program of Medicaid or "SoonerCare" health care has stringent policies in providing care for qualified applicants; thus, many residents feel the program is useless as ever. The program prioritizes applicants with maximum of $2,000 savings and $2,022 gross income. Once eligible, all of the applicant's income, exclusive of $50 personal monthly allowance, must pay the nursing home costs.

Moreover, to qualify for Medicaid, all applicants are not allowed to simply transfer their assets to heirs or put them in an irrevocable trust. The gifts or transfer of assets must had occurred prior to five years of application for Medicaid eligibility benefits. Failure to comply on this rule will require the applicant to personally pay the long term care costs. Revocable trust is exempted from Medicaid eligibility benefits. In 2009, SoonerCare paid long term care costs for more than 21,000 Oklahomans. Nursing home care received the highest budget with 13 percent of Medicaid's $3.9 annual expenditures.

Oklahomans, who haven't purchased private insurance plan, have no option but pay for LTC costs themselves until their assets reach the amount allowed by State Medicaid program. Residents need to follow the stringent rules including the transfer of assets that make the eligibility process horrible.

Oklahoma Long Term Care Insurance Partnership

The Oklahoma Long Term Care Insurance Partnership is a joint effort of the State of Oklahoma and private insurance industry to address the increasing demands for long term care, while aspiring to reduce the financial impact on residents and caregiving families. The Oklahoma Health Care Authority, the Oklahoma Insurance Department, and private insurance companies join hand-in-hand to provide policies that provide maximum benefits such as asset disregard and inflation protection.

The asset disregard benefit deals with the most excruciating problem when applying for Medicaid -- the asset limit. Through this benefit, applicants may protect assets as much as they want to, but still qualify for Medicaid coverage. Therefore, Oklahomans can receive LTC without exhausting their hard-earned assets and lifetime's savings for SoonerCare. Partnership policies ignore the amount of assets a person have when determining the eligibility benefits, and the amount received from policy benefits is equal to assets that can be protected or called the dollar-for-dollar protection.

The inflation protection protects policyholders from the increasing costs of long term care services. A minimum of 3 percent inflation benefit is included on policies for people aged 60 and below. The inflation benefit is optional for those aged 76 and above.

Flops Then Collectible Now

Some cars, like Ferraris, are worth big bucks from the day they're born. Others, like classic muscle cars, always have a following but attain collectible status only later in life. But some truly special cars are total busts when they're new but go on, decades later, to find their place in the hearts of car collectors, especially those with a sense of humor.

McKeel Hagerty, president of Hagerty Insurance, which specializes in covering collectible cars, cites these examples as among his favorites flop-to-tops category.

Edsel (1958-60)

Value: Over $100,000 for convertible in good condition

The name Edsel, has become synonymous with "flop." When Ford developed the Edsel car line in the 1950s, it was intended to offer customers something a bit nicer and more distinctive than Mercury cars but not quite as luxurious as a Lincoln.

Ford spent about $400 million to develop the cars, or about $3 billion in today's money, according to Hagerty Insurance, a company that insures collectible cars. During Edsel's short life, only 118,000 cars were sold, about half of what Ford needed to break even.

Edsel's are valuable today in part simply because most cars from that chrome-and0fins era are increasing in value, said McKeel Hagerty, president of Hagerty Insurance. The more chrome and the bigger the fins, the better.

Amphicar (1961-68)

Value: $26,000 - $58,000

The German-made Amphicar, the only amphibious vehicle ever produced for the mass market, was a strange compromise between a road-going and water-bourne vehicle. It wasn't particularly good in either place.

Since fewer than 4,000 were sold -- much less than the 20,000 that had been anticipated -- their appeal as curiosities today far outstrips the number of working models available.

Other German-made cars from that time tended to rust easily, HcKeel Hagery said, but given that Amphicars appear regularly at collector car auctions, they seem to be holding up surprisingly well.

BMW Isetta (1955-62)

Value: $30,000 - $60,000

An early example of a microcar, or a city car, the Isletta fared even less well in the U.S. market than the Smart ForTwo, a modern example, has in recent years.

The ultra-tiny Isletta was actually a big hit in post-war Europe, where it fit the need for ultra cheap transportation that could run on narrow roads using very little fuel. In the United States however, it was a bust.

That only makes it more desirable today. For many buyers, the Isletta is a sort of "comic relief" in their collection of otherwise fine cars, Hagerty said.

Continental Mark II (1956-57)

Value: $40,000 - $90,000

Edsel wasn't the only new car brand Ford introduced in the 1950s. Wanting to stretch into the upper realm on the luxury class, Ford announced the creation of the Continental car line.

This car sold for about $10,000 in its day. Sounds dirt cheap but that was about the price of a Rolls-Royce in 1956.

"The Continental division was meant to compete independently in that super-expensive range," McKeel said.

The Continental was an impressive car -- and it still is -- but people weren't ready to spend that kind of cash for Detroit metal. About half of the 3,000 Continental Mark II's produced still survive.

Delorean DMC 12 (1981-82)

Value: $10,000 - $35,000

The Delorean factory was supposed to crank out 30,000 of these futuristic looking cars. Unfortunately, the cars turned out to be underpowered and overweight, Hagerty said.

Management troubles and drug trafficking allegations only added to the company's problems. As it turned out, only 9,000 were produced over two years.

The Back to the Future films cemented its place in the public consciousness.

Fiat Jolly (1958)

Value: $30,000 - $60,000

The Jolly, a modified Fiat 500 or 600, was intended for wealthy yacht owners who wanted a car they could carry from resort to resort on their boat. The seats were made of wicker and an optional fringe top protected occupants from sunburn. Not surprisingly, perhaps, it didn't sell well. That's why fewer than 100 exist today, a small supply that increases their value.

De Tomaso Pantera sold through Ford (1971-75)

Value: $42,000 - $65,000

The hot-looking rear0engined Pantera was sold at Lincoln-Mercury dealers, a rather incongruous retailing channel for a car like this. With its Ford engine, the Pantera was supposed to be easier to maintain than something with a finicky Italian engine. Alas, keeping a Pantera running wasn't so easy after after all. Despite impressive performance numbers, dependability problems and a generally poor early '70s market for performance cars -- including gas price spikes and rising insurance costs -- kept sales low.