The Cost Dilemma”Can you believe how much our health insurance premium is going up this year?” my wife said to me. “No surprise to me,” I said to her. Health insurance has been heading this way for a long time now. Not only are premiums increasing at an incredible rate of 17% per year, the delivery of health costs by doctors and hospitals seem to be spiraling out of control. It is a well know fact that much of our health insurance premium today is well padded to take care of the indigent, the un-insured as well as the illegal immigrant. However, we continue to hear claims that 47 million people are uninsured. How did we come up with that number? “How did we let this happen?” a colleague asked me the other day. As in everything else in life, if we do not pay attention to the details in our lives the bad is liable to bite us when we least expect it. We have swept escalating costs under the carpet for too long. However, in this economy and for our future we now need to take control of managing our own health care and its related costs. Regardless of whether Government achieves its perceived “nirvana” with Universal health care, consumers will ultimately be paying the price.The rise of Health Savings Accounts (H S A)For those of you who have not heard of H.S.A. accounts, it is time to take heed of this incredible option for families. In the simplest example that I can make, if you were able to reduce your premium by half and put the other half into a savings account for your family that would grow tax deferred like an IRA would you do it? If you got to pay for medical services before tax from this account would you do it? Most people would say, “Where’s the catch?” The only catch for this type of plan is you must have a high deductible plan and not want the Cadillac plan that pays for everything. Now, you can control and manage your costs by picking and choosing for the services that are most important to you. If you and your family are healthy, you will visit doctors less and save more in the health savings account. It seems like a win-win. You can always get more information on these plans and the benefits by visiting HSAbank.com.The Long Term Care problemAs most of you are aware, people are living longer which will has ultimately created a breakdown in services and a rise in costs. When one looks at the expense of home health care, assisted living or a nursing care facility it is truly mind boggling. If you think paying $6,000 to $8,000 a month in home health care is a lot today, look no further than tomorrow for the coming crash. These costs are literally unsustainable into the future and most people will run out of money for this care, move into their children’s homes or surrender to the state.How many of you have visited a nursing home facility? How many of you think that Medicare or Medical will take care of you? Think again because that party is ending as we run out of money.While most baby boomers are thinking about how to help fund college expenses, they should also be thinking about their Long Term Health Care needs. Only 9% of people older than 65 have long term care insurance and 60% of those will require some form of long term care. It seems that the public has failed to recognize the future risk. The quality of the care will ultimately go down while the costs continue to spiral. Medicaid will probably become a real welfare program that covers everyone. State budgets are in trouble as well. Due to this coming crash it is important that you re-position your wealth management assets with this in mind whether you are affluent or not.The Case for Means testingWe have all heard the news about Social security and Medicare running out of money due to the fact that there will be fewer workers to support those on these government assisted programs. So what is the possible solution? Pundits have been talking about increasing the age that you can receive benefits, reducing the benefits or just not letting anyone with decent income have any of what they have put into the system. The best case I have heard centers around means testing. This type of benefit planning involves the current income levels of those who are about to retire or are retired. Into the future it is possible that the individual benefits for Medicare and Social Security will either become reduced or possibly eliminated for people who make a certain amount of income. This has partially been done by limiting the benefits you receive at age 62 as well as taxing those benefits if you make too much income from other sources. Those who have put a lot of dollars into the system will not be happy since they will feel cheated. However, this unfunded liability of trillions of dollars will have to be dealt with sooner rather than later.ConclusionYes we are living in uncertain and chaotic times! Yes we know that we will have to take our head out of the sand and face the future of health care and costs. Don’t expect for health care costs to go down in the near future. Don’t expect that some magic plan is going to appear to solve this coming cost and benefit dilemma in heath care. Do expect that you need to take control of your health care costs and manage them as you would any thing else in life. We will all pay the price into the future but we must come together to force those in charge to be creative, use the dollars they get judiciously and take this very seriously. We are on a collision course with Health care and we need to deal with it. Do some research and take control. It’s your life!
When commercial borrowers are seeking commercial real estate loans and business loans, malpractice can occur with both business financing lenders and brokers. Malpractice in commercial funding activity is a concern when there is a serious failure of professional duty.During the opening segment of the television series Hill Street Blues, Sergeant Phil Esterhaus usually ended with a suggestion (let’s be careful out there) that will also be helpful in avoiding malpractice situations involving working capital financing. Although that is a worthy goal, the actual practice of avoiding problems with business loans is somewhat difficult and complex. The most effective approach we have found for a dilemma like this is to offer comprehensive strategies and advice that reflect a candid analysis of these difficulties.We have published a special report addressing one of the biggest recent causes of malpractice involving business financing and commercial real estate loans. Most commercial borrowers are probably aware that chaotic conditions started impacting residential real estate beginning about 12 months ago. This has produced problems for commercial borrowers since it has resulted in numerous former residential lenders and brokers now attempting to execute business loans because their previous residential lending activities have all but dried up.Inexperience involving commercial loans is never a good thing when you are describing a commercial lender or broker. In almost all cases the complexity of business loans combined with inexperience by their financing advisors can result in a formula for malpractice.Even though a broker or lender was superb at executing residential mortgage financing, please do not assume that they will also be good (or even marginally capable) when it comes to commercial mortgages, working capital financing or small business loans. We have prepared a series of reports which focus on over twenty critical differences between residential financing and business financing. It really does take several years to be effective in finalizing commercial loans.Another common source of malpractice with working capital financing is currently seen with many agents for business cash advance programs. Most of these agents represent only providers for credit card receivables financing and simply do not understand business loans in general. They are focused on only the narrow but important service that they provide and are not capable of assisting with other forms of business financing.Although it might not be obvious to most business owners, the malpractice potential with business cash advances is also directly related to the first example described above involving inexperienced brokers and lenders. In many cases throughout the United States, call centers that previously focused on residential real estate loans have simply switched their focus to merchant cash advance programs. Once again inexperience is never a good thing when complicated working capital management services are involved.Specialized commercial real estate loans and SBA loans represent the final example of malpractice potential. Although many commercial lenders seem to suggest that they can do SBA financing, in reality very few do what they claim. One major business financing lender ceased most business operations during the past year because of apparently fraudulent SBA loan activities.Specialized commercial property such as funeral homes, gas stations, bowling alleys and golf courses have always been recognized as problematic for commercial loans. As a relevant example, a national lender for funeral home loans is now the target of litigation due to commercial funding activities that almost anyone would view as irresponsible.Commercial borrowers should rightfully conclude that an important step in avoiding potential malpractice circumstances might simply be to avoid certain lenders and brokers. We would agree wholeheartedly, and in fact published a special report some time ago dealing with the need to avoid problem brokers and commercial lenders.No matter how serious the three malpractice examples might be, they should be considered as the tip of the iceberg when looking at the overall obstacles for working capital loans and business loans. Our advice is meant to reinforce the importance and value of being prudent in pursuing commercial loans.
Approximately 50% of the new businesses fail within the first three years. This failure has been attributed to the lack of a complete and structured business plan. This should, however, not rob you your peace. Getting online courses on how to open a business will equip you with the skills and knowledge you need to make a clear concept on what your business is and what it will be doing. The courses will also provide you with marketing skills that are essential for the success of any investment. On the whole, the courses online will help you start your own business with confidence.Which is the best course to take?In the market today, there are innumerable courses you can consider to help jumpstart your small business. The downside is that most of the courses are vague. The best course to take is one designed solely for the small businesses. The Certificate IV in Small Business Management is tailored specifically for the people who already operate or intend on opening a business. This type of courses develops knowledge and skills relevant in handling a variety of unpredictable problems. The graduates will also be able to evaluate information from a range of sources.What skills do you gain from this qualification?The graduates develop better skills in an assortment of business studies contexts. They become better leaders and give appropriate guidance to other people. Graduates have also been found to be more responsible for the output of other staffs. These are all essential skills for running a small business.In addition to gaining great leadership skills, the learners are able to muster skills needed in small business operations. Common skills gained from the courses online include financial planning, risk management, marketing and legal requirements. The qualification also includes such skills as team management, effective communication, planning, organizing, and problem solving in addition to customer service. The education Australia gives the students relevant skills to become a successful entrepreneurs.How the course helps you gain confidence After completing a small business course, you will be energized to implement your ideas. This is simply because you will be better equipped to assess the market, make plans as well as manage resources to achieve specific goals. In addition to that, the online courses will give you great insights on how to get funding for your business and how to maintain a great performance. In general, the skills learned will enable you open a business without the worry of failing.Getting the qualification through online courses is the best decision you can make. This is because of the flexibility you get in completing the courses. The option is even better if you are running short on time. All you need to do is select a reputable online program and enroll.