from Bignews.biz:Irvine, CA--Thanks to increased longevity and advances in health care,Americans are facing a new crisis: a growing need for long-term care.Americans spent over $200 billion on long-term care last year, about atenth of the nation's health care spending and that number will explodeas baby boomers age, explains Jesse Slome, executive director of theAmerican Association for Long-Term Care Insurance.Most insurers offer preferred health discounts that can reduce theyearly cost by 10 percent. Once you qualify for this discount, younever lose it even if your health changes, explains Petchul.Adding a deductible to your policy -- something most people have fortheir car, health and home insurance -- can reduce the cost by roughly20 percent annually. Over 80 percent of long-term care insurancepolicies purchased today have a 90-day deductible period, statesPetchul. Most people have some savings that will cover the cost duringthis time period or
