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Saturday 22 September 2007

A parity plan for dual eligibles: the Home and Community Services Copayment Equity Act of 2007

It is hard to believe that it was 18 months ago when consumers, pharmacists, and long-term care providers were trying to figure out the new Medicare Part D prescription drug program. Articles were written, directives were issued, hearings were held, and it seemed like everyone you talked to had an opinion about the new program. Progress has certainly been made as consumers and providers alike have started to understand Part D and how it can help seniors. However, there are still some concerns with the program, and one in particular affects assisted living residents.

Before January 2006 and the implementation of Medicare Part D, dual-eligible assisted living residents (those who receive Medicaid and Medicare benefits) were exempted from remitting co-payments for their prescription drugs. The exemption from co-payments was also applicable to individuals residing in skilled nursing homes, as well.

Under the new Medicare Part D program, however, dual-eligible residents in assisted living communities are not exempt from prescription drug co-payments. This has created a severe financial hardship for these residents who are already living on very low incomes. The only discretionary income most of these residents have is a Personal Needs Allowance (PNA)--frequently less than $60 per month. Residents use the PNA to pay for clothing, personal hygiene items, over-the-counter medications, and any other necessary items they need. To have to use this meager allowance to cover prescription drug co-pays is a true hardship.

With the inability of many dual-eligible assisted living residents to afford the new co-payments, thousands of assisted living providers have had to use their personal funds to cover the cost of Medicare Part D co-payments. Pharmacists have also been providing support for residents who cannot afford the co-pay.

Absent the actions of assisted living providers and others, dual-eligible assisted living residents would have been forced unnecessarily into a higher and significantly more expensive care setting, such as a nursing home, where residents are exempt from Medicare Part D co-payments.

The only remedy for this inequity is legislation that would eliminate the co-payments for assisted living residents. In 2006, Senators Gordon Smith, Hillary Clinton, and Bill Nelson introduced the Home and Community Services Copayment Equity Act of 2006, but unfortunately it was not passed.

The bill has been reintroduced this year as S. 1107. The Home and Community Services Copayment Equity Act of 2007 would ensure that qualified assisted living residents and dual-eligible recipients who live in other home-and community-based settings receive the same relief from Medicare Part D co-payments that nursing home residents receive. This bill has tremendous bipartisan support from Sens. Smith (R-Ore.), Nelson (D-Fla.), Jeff Bingaman (D-N.M.), Barbara Boxer (D-Calif.), Clinton (D-N.Y.), Susan Collins (R-Maine), John Kerry (D-Mass.), and Blanche Lincoln (D-Ark.).

Smith has requested that officials from the Centers for Medicare & Medicaid Services (CMS) explore administrative measures that could alleviate the current situation for dual-eligible residents in home-and community-based settings until Congress can pass the necessary legislation. CMS responded that although it empathizes with the plight of these residents, it cannot address the current situation with an administration remedy.

The Assisted Living Federation of America (ALFA) has been working to gain passage of this legislation for two years, but our efforts alone will not make this happen. Residents, family members, staff, and others are encouraged to write their senators and urge passage of S. 1107.

All consumers, regardless of age or income, have the right to live and receive care in the setting of their choice. Without passage of this bill, many dual-eligible beneficiaries living in assisted living or their own homes could be forced to move into a skilled nursing facility simply because they cannot afford the Medicare Part D co-pay for necessary medications.

Write your senator to urge his or her support. Working together we can make sure this does not happen. Act now to gain passage of S. 1107.

Maribeth Bersani is Senior Vice-President for Public Policy for ALFA. For further information, phone (703) 894-1805 or visit www.alfa.org. To send your comments to the author and editors, e-mail bersani0607@nursinghomesmagazine.com.

Nursing Homes, June, 2007 by Maribeth Bersani

Real Estate Investment: Home equity loans versus refinancing

There are many options for making use of your home equity value when thinking of building your property portfolio. These include loans such as home equity loans, refinancing your mortgage and many others. By far the most tested and used options are the two that we have highlighted. You have to carefully investigate these options and evaluate their benefits to you. Choose the option that is less stressful on your pocket and that offers you the best and easiest repayment terms when all factors are considered.

Home equity loans are loans that leave you with two loans to pay rather than one loan overall. They give you a separate loan on the home equity that you have available. They do not reduce the interest rates on your present mortgage nor do they reduce your mortgage payments. This means that you should be very careful that you can handle the additional burden. You also do not increase the length of your mortgage and are therefore obligated to repay the mortgage in the same time period as previous.

The option is yours to decide whether you can handle the burden of the two loans and the time frame. It is however not always the case that this is possible. It is often an easier option to free the equity in your home by refinancing your present mortgage and even possibly reducing the monthly repayments at the same time by giving you more time to pay. This may be the best option if you know that your budget will be tight.

The refinancing of the present mortgage that you have can even reap other benefits to you such as lower interest rates and of course the fact that you are able to get the cash for your start up into real estate investment and building out your property portfolio. With the right investment you will be able to handle the repayment of your mortgage in no time and you will be braced to succeed in the real estate race to riches.

It is important that you carefully assess your financial situation and determine whether you are financially able to repay the mortgage as it is your home that is being put at risk. Your decisions as to how to free up the equity in your home and refinance should be based on a clear understanding of the type of refinancing that will best accomplish your task without stretching you beyond your resources. You will be able to maintain your current lifestyle while progressing with your investment portfolio.

There are other refinancing options available on the market today that will accomplish the same goal but may or may not suit your requirements better. There is a means of freeing home equity known as cash out refinancing. This should also be considered in collaboration with home equity refinancing. Read on how to go about refinancing for your real estate investment, its benefits and the factors to consider when venturing into this type of transaction.

Article Source: http://www.ApprovedArticles.com

Martin Lukac represents RateTake.com Home Equity and Debt Consolidation Loan mortgage marketplace. RateTake.com matches consumers with mutiple lenders offering low mortgage rate quotes. For more information please visit Home equity loans versus refinancing

***By: rateempire

The Terms of Home Equity

Home equity is the value that your home has due to the payments that you have made on your mortgage. A home equity loan will enable you to borrow money using the equity that your home has as the collateral. It can be confusing to deal with all these terms but the reality of the situation is that you have to arm yourself with the knowledge of these terms. It is important to learn the definitions and understand what they mean when you are thinking of sourcing a home equity loan.

One of the first terms is collateral. This is the property or asset that is put as the guarantee that you will repay your debt. If this debt is not repaid then the lender is able to take the asset and use it to attain their money. With home equity loans the asset on the line is your home and you can be forced to move out of the home and lose the home if you default on the loan. The equity simply of your home is calculated simply as the difference between the worth of the home and the amount you owe on the mortgage.

You can use a home equity loan, which is a second mortgage to turn equity into cash, and this money is made available to spend on many items such as debt consolidation, home improvements, college or any other expense that you may have. There are in reality two main types of home equity debt. These are known as home equity loans

which we mentioned previously and home equity lines of credit. These are often confused but they are not identical even though they are both secured by your property.

The typical home equity loan or line of credit is repaid in shorter times than mortgages. They are set up to run 15 years rather than 30 years but can be significantly shorter or longer depending. A home equity loan is a lump sum that is paid off over a set period. This is at a fixed interest and steady installment per month. This is one time and you cannot borrow again. The home equity line of credit operates a lot differently. There is a revolving balance that lets you borrow a certain amount for the duration of the loan or other set time limit. You withdraw as you need and pay off the principal and reuse.

There are various benefits and disadvantages of these two but this really depends on your unique situation. While there is more flexibility with the home equity line of credit there can also be some downsides due to the fluctuating interest. The home equity loan also has its disadvantages as it is possible to pay only interest and not principal and remain in debt. Whichever you opt for you must be aware of all the possibilities and how to avoid the downfalls. This can help you use either to your advantage and assist in keeping you away from the possibility of losing your home.

Article Source: http://www.ApprovedArticles.com

#1 Equity Home Loan , 1EquityHomeLoan.com, provides home equity mortgage financial marketplace which connects consumers with finance lenders who will help you develop a solid financial plan for your home. For more information please visit The Terms of Home Equity

***By: rateempire

Versatility of HELOCs

Your home's equity can be one of the best ways to find capital when funds are scarce. And the best way to tap into this equity is with a home equity line of credit (HELOC), which gives you the flexibility of a credit card and the tax-deductions of a mortgage. Since a HELOC allows you to draw funds for myriad reasons, it has become the Swiss Army Knife of financial instruments.

One credit line, many uses

Popular reasons to tap a home's equity include home improvement, debt consolidation, a second home purchase, vacations, and college tuition. Many small business owners will opt to use a HELOC instead of applying for business loans, because the process is easier and less expensive.

In recent years, debt consolidation has proven to be an extremely popular use for the HELOC. It can drastically reduce a borrower's monthly payment by offering lower interest rates than credit cards. On the flip side of the coin, people who are debt-free often use the HELOC to buy a car, taking advantage of the tax-deductibility of the interest payments.

Rainy day fund

It's a basic rule of thumb to keep three to six months of living expenses stowed away in a liquid account as a rainy day fund. Even though it's a great savings habit, consumers are forsaking savings, and using a HELOC as a source for emergency funds. If you choose this route, make sure the lender you select doesn't charge a fee just to keep the line of credit open. Just because you have a rainy day fund doesn't mean the institution should rain on your parade.

Fee Free

HELOCs can be fee-free. Avoid a lender who wants to charge you for writing checks or proposes exorbitant closing costs. Some lenders might require an appraisal; but there are plenty of lenders who will waive the appraisal fee. The cost of writing checks should also be free of charge.

Convert to a fixed-rate loan whenever you want

Since HELOCs are tied to short-term interest rates, they may rise suddenly. If they do, you may find that a fixed-rate home equity loan can save you money in interest payments over the long-term. If you choose to convert, expect a higher monthly payment. There may also be additional closing costs, so do the math to see if this move is right for you.

These features, as well as caps on interest rate increases and no prepayment fees, are all versatile benefits that underscore the HELOC's Swiss Army Knife reputation. About the only thing you can't do with it is whittle, or use it to spoon up beans by the campfire. Short of those tangible benefits, the HELOC could be the versatile borrowing tool for just about anything you need.

***By MortgageLoan.com

Wednesday 19 September 2007

How to Guide to Remove Mildew From Walls and Ceilings

Author: The Handyman Guy

Once in a while you may grab fuzzy black or green spots on a bathroom wall or in the kitchen table.

This very likely is mildew, the name for all the spores that are health hazard & a frightening dream to the proprietor. When it gets to the walls & ceilings, it's hard to take out it.

This task is of moderately jammy level. The first thing that you've to do is to wear rubber or latex gloves.

You may spray them with a solution of half a cup of chlorine bleach, 1/3 cup powder laundry detergent & one gallon hot water.

Start implementing from the base to the upper parts of the wall.

You can gently take off the surface mildew with the use of a plastic scrubber sponge. With this sponge, wash thoroughly with pure water.

When it gets dry implement paint with anti-mildew agent in order not to do it another time soon.

Here are also several things that you may do for the ceilings. You have to wear rubber or latex gloves.

Dip a sponge in a bucket full of 1/2 a cup of chlorine bleach, 1/3 a cup of power laundry detergent & 1 gallon of hot water.

It is good to squeeze out the excess. Stand on a stepladder and gently scrub the affected areas.

Following that fill the bucket with clean water & wash thoroughly with a scrubber sponge.

The final thing that you have to do is to implement an anti-mildew paint when it gets dry.

Be cautious not to drip a solution on the rugs or the floor. You may impede mildew by using exhaust fans while cooking and showering.

In order to decrease humidity, let in fresh air in a regular manner. When washing bleach always wear rubber gloves.

Be certain that the room is well ventilated in order to avoid the hazardous bleach fumes.

The things that you are going to need are anti-mildew paint, plastic spray bottle, chlorine bleach, rubber or latex gloves, ladder, plastic scrubber sponge, power laundry detergent and a pail.

Fireplace Fans -how Can They Keep your Home Warmer?

Author: Terry Edwards

Fireplaces are arguably one of a home's finest features. The comfort and visual appeal they add are wonderful. For most people though, the problem comes in when they want to use their fireplace to heat their home. Fortunately, with a fireplace fan you can heat much more of any home.

An electric fireplace is where a fireplace fan really works well. This kind of fireplace has a powerful built-in fan forced heater that disperses the hot air out into the room. Of course, a thermostat helps control the level of heat.

These types of fireplace blower fans are not only very quiet when running, but they are powerful as well. They can easily heat several rooms throughout the home quickly and comfortably.

The heater in an electric fireplace contains a large coil which gets its power from the electricity. Once heated, the fireplace fan kicks in and begins blowing it out into the room.

One of the nicer things about an electric fireplace is that they are much safer overall than a wood burning fireplace or stove. There are no sparks popping out or flames to be concerned with.

They are also convenient with no wood to store or fire to have to start. You simply turn the unit on and the heater begins to immediately get hot. The fireplace blower fan starts and viola, you have a warm toasty room on a cold winter night.

As you can see, having a fireplace is a wonderful thing to have, but having a fireplace fan can turn it into an even more useful appliance.

The Benefits of Foam Roof Insulation

Author: Jo Scher

Are you tired of your metal of shingle roof? Besides compared to the foam roofs metal and shingle roofs take more time to install. Maybe you should consider looking up just how many benefits of foam roof insulation there really are.

There are many advantages to foam roof insulation to metal or shingled roofs. Foam roofing is liquid polyurethane, which spreads on the roof quiet easy. Compared to metal and shingled roofing Foam roofs are much better because they won't end up leaking in a little amount of time. Practically foam roofing has little waste and doesn't require much upkeep.

Foam roofing can be used on any type of surface, which makes it the most efficient for most areas in the world. Foam Roofs hold temperature within the house better than that of metal or shingled roofs for that matter. The foam roofing weighs less, which makes houses last longer.

Repairing foam roofs is the best of them all because it takes less labor and if it does end up with a leak it will be much easier to find and fix because the area will keep the water isolated around the leak, in this matter you can fix a foam room insulation with Electrometric caulk. When you are laying foam room insulation you use a type of gun that heats up two chemicals to heat this material to spread it across the roof then the foam roof insulation expands in order to fit the roof.

Foam Room Insulation is not only easy to work with but foam roofs insulation also helps to save energy more efficiently then other types of roofs. The lifespan of foam roofs is about fifty years, which is a long time for a roof. In all actuality it puts more money in your wallet then fixing a metal roof 5 years from now. You can even walk on foam roof insulation without damaging it. The cost of foam roofing can be cheap compared to other types of roofing. Depends really on the thickness area and complexity of the roof.

If you are considering purchasing a foam roof sometime in the near future I suggest that you purchase foam roof insulation because it will not only save you money but it will also save you plenty of time to do other things as well.

Buying Investment Property in Cape Verde

Author: rossjohnson

Are you thinking about Buying Investment Property in Cape Verde perhaps because you would like to rent it out and have money coming in each week or month from renting out the house? Or perhaps you are looking to buying investment property in Cape Verde just to turn around and sale it for more than you have bought it for, either way you will be making it out money wise.

When thinking of buying an investment property in Cape Verde you will need to take some time out of your busy schedule that you may have and go over to Cape Verde yourself, besides this will be like vacation for yourself. From here you can look at the houses that are up for sale in Cape Verde and maybe even do a bit of bargaining with the seller, you should never just settle for the price that is on the market, because normally people set their prices at a higher price because they know that some individual who is interested in it will try to talk them down on the price, so they tend to set it higher.

Another little hint for when you go to purchase property to invest in Cape Verde is the language difference. Cape Verdeans tend to speak crioulo, so maybe you should take a translator along with you just in case you do not know creola. Chances are if they have a home for sale you may be able to find someone that can speak your language along with creola language as well, but you should always be on the safe side, you don't want to waste a trip for no reason.

Cape Verde would be a nice place to invest buying a home at. Cape Verde is surrounded by sunshine almost all year long. So many of people will want to buy the house that you have bought if they love the sunshine. Cape Verde is a very out going place but whenever you are purchasing homes anywhere you should always look out for scams. If you go by the rules you will see that you are going to have a happy adventure with purchasing your investment home in Cape Verde.