Young Adults and ER Costs

Posted on November 25, 2015 by robertjrussellcompanies

New research finds that young adults are being shielded from ER costs because of PPACA. (Jason Redmond/Associated Press/file)

A popular and key aspect of the Patient Protection and Affordable Care Act that allows young adults up to age 26 to stay on their parents’ health coverage has “shielded them, their families and hospitals from the full financial consequences of serious medical emergencies,” according to new research.

A new RAND Corporation study found that $147 million in medical care service in hospital emergency departments was newly covered by private insurance during a one-year period. Without the new regulation, those costs would have been paid by young people and their families, or been written off by hospitals as uncompensated care, researchers said.

The study, published in the May 30 edition of the New England Journal of Medicine, estimated that more than 22,000 “nondiscretionary emergency room visits” during 2011 involved young adults who were newly insured under the provision. The change increased health insurance rates by 3 percent among the young adults needing care in emergency departments nationwide during the period.

The under-26 provision was one of the first PPACA provisions to go into effect, when it did in September 2010. And despite the law in its entirety struggling with popularity nationwide, that provision has remained one of the most popular parts of the law since its inception. It has expanded coverage to about 3 million young adults.

For the study, researchers examined emergency care provided to adults age 19 to 31 at nearly 400 hospitals from January 2008 through the end of 2011. Researchers analyzed emergency cases that involved serious illness or injury that would lead patients to an emergency room whether or not they had insurance.

“The change allowing young people to remain on their parents’ medical insurance is protecting young adults and their families from the significant financial risk posed by emergency medical care,” said Andrew Mulcahy, the paper’s lead author and a health policy researcher at RAND, a nonprofit research group.

Mulcahy also said hospitals are benefiting from the provision, too, because they’re treating fewer uninsured young people for emergency ailments.

“Because we looked at only the most-serious emergency cases to rule out the influence of insurance on the decision to seek health care, we probably underestimate the full financial benefits that the new rules have provided to young adults who need urgent medical care,” Mulcahy said.

Got a Question? Call Robert J Russell 972-292-8967

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Maybe It’s Time for a Property Manager

Posted on November 24, 2015 by robertjrussellcompanies

One of the best modes of assuring your future is investing in property. You can come across many people who keep on investing in real estate so that in difficult times they can tide over by either selling or renting/leasing the property.

But it is also important to maintain these properties and to get good income from them and for this the best way is to hire a skilled property manager, who is employed with a property management company and works for you on contract basis.

There are many properties that are maintained by the residential managers. But then, you have to keep a tab on his working all the time as he is directly answerable to you. So you are never free from the worries of property maintenance. What’s more you have to attend to all the queries which the residential manager brings up. Hiring a real estate manager can relieve you of all these hassles as he has got enough experience to handle all such things.

Duties performed by a property manager

A manager for your property can prove to be the most perfect decision as not only he takes care of your property, but he also makes sure that you get maximum benefit from it in the form of rent or leasing amount. Check out some of the duties performed by him:

A good manager has established contacts and references in the market and hence can immediately arrange for tenants or people who are interested in leasing for you. He is aware of the market rates in different locations and therefore, makes sure that you are getting the right rental or leasing amount. A property manager ensures that the tenants have good background and runs a character check before finalizing the deal.

Taking care of all the legal agreements and documents is a part of his job responsibility and he expertly prepares the entire rental, leasing as well as selling documents for you according to the latest legal norms.

It’s his job to collect the rent regularly from the tenants, look out for the repairing needed such as plumbing, pest control, electrical installations and wiring and upkeep of garden and the surrounding area including gate and fence.

A property manager will find a good buyer for you; if you are interested in selling your property he will see to it that you get a good rate according to the prevailing market price.

He can expertly perform the duty of selling and re-investing in real estate and enhance you real estate portfolio with his years of experience and can help you gain better properties at good rate. So, once you have hired a real estate manager you can be assured of good upkeep and returns from your properties.

Got a Question? Call Robert J Russell 972.292.8967

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Do It Yourself Staging Tips

Posted on November 23, 2015 by robertjrussellcompanies

Home staging shows your home in the best light possible by making your home look like a model home so taking on the task of staging it yourself can be a big one. The advantages of staging your home are numerous with the possibility of multiple offers and a shorter number of days on the market being just a few of the benefits you could enjoy.

Seven Do-It Yourself Home Staging Tips

Crank up the curb appeal – When it comes to selling your home the curb appeal, also known as the first impression the buyer will see, is crucial. Clean the exterior of your home by pressure washing the siding, cleaning the gutters to prevent sagging and landscaping the walkway leading to the front door. You don’t have to spend thousands of dollars on landscaping because a few hundred dollars in plants and flowers will go a long way.

Clear away cluttered spaces – Cluttered counter spaces and rooms steal valuable square footage and make home buyers think the rooms are smaller than they actually are. Leave room for only the essential appliances on the kitchen counters and clear away any unused furniture or storage containers in bedrooms, family rooms and home offices.

Add complementary accessories – Staging your home isn’t just about clearing away the clutter because a home that is too bare will make the home seem like it lacks personality. Use accent pieces and accessories that complement each other. For example, a round coffee table will help a living room with large chairs and sofas feel more open and flow better.

Shuffle furniture so each room has a purpose – Sometimes when you live in a home for a while a room can lose its original purpose because you found a better use for the space. This frequently happens in casual living environments when the dining room becomes an office or catch-all space. Once you have decided to sell your home make sure that each room has a purpose and that the space is clearly defined so home buyers aren’t ticking away dollars for a perceived loss of space.

Finish any deferred projects – Occasionally we all take on projects that end up being far more time or labor intensive than we can handle. Before putting your home on the market be sure to finish all of your “some day” home projects to give your prospective buyers confidence that they are buying a well cared for home. These projects can be as simple as changing out dead light bulbs and as complex as finishing a deck. Either way, they need to be done!

Rent furniture or accessories to fill in empty spaces – Like most people, you live in your house and your furniture may be showing signs of significant wear and tear. To keep your home looking fresh you should consider replacing aged furniture with rented newer looking pieces. You can also rent accent pieces like vases, dishes and more.

Wash your windows and open the shades – Probably the most laborious task on the list, washing your windows on the outside and on the inside will make a big difference in the way your home shows. Clean windows show off the views around your home while showing buyers that you take pride in your home’s appearance. A win-win all around.

Staging your home by yourself can be a daunting task but knowing where to start and what steps will help you achieve the most benefit from your time invested will increase your chances of selling your home faster and for more money than comparable properties in the neighborhood.

Got a Question? Call Robert J Russell 972.292.8967

 

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Contractor Insurance Claims

Posted on November 22, 2015 by robertjrussellcompanies

Claiming on your insurance is something that none of us ever really want to do, but often it is necessary, and when it does, one does not want to be scratching their head as to what to do. Insurance for contractors is a busy market at present, and policy holders should know when they are able to make a claim.

images (1)The importance of contractor insurance is high, and within a competitive business, limited company professionals should understand what policies are relevant to them. There are a number of different forms of protection for self-employed individuals, and cover can be purchased for almost all eventualities.

When it comes to any form of insurance and paid protection, one of the most common questions that crops up is when exactly one should make a claim. Of course, if someone crashes a car, the first thing that they would be asking (apart from ‘am I alive?’) would be what is the number for my insurance provider? When it comes to professional protection however, notably contractor insurance, the potential for claims on a cover policy is less clear cut. It is important that when the time comes, contractors know exactly what they are entitled to as set out in their insurance policy.

Maintaining professional indemnity and protecting limited company finances are both very important when contracting, the safety of PSCs being the priority of self-employed professionals. Within the business market, no matter what sector one may be working in, all self-employed workers are liable and susceptible to claims being made against them. Whether this is because of an accident occurring to others around them, their professional mistakes, or simply a loss of client property or finance, contractors must obtain sufficient insurance to stay protected.

Contractor insurance is highly valued as a form of cover, each different policy providing protection against a number of potential eventualities that could result in financial loss to a limited company. It must be noted that this form of insurance provides cover to the limited company, and not the individual, thus for example it would be ‘Larry LTD’ that was covered, and not ‘Larry’ himself.

Deciding whether or not one can claim on their insurance can differ, obviously depending on both the policy itself and the circumstances of the issue. Insurance for contractors is vital in the profession, and the insurance works commonly on claims made basis. If a contractor working via their limited company was to be the on the receiving end of a liability claim, then their insurance would act as financial cover. Popular contractor insurance products can cover eventualities from accidents and sickness, tax and IR35 related issues, and even cover travel insurance, all serving a purpose tailored specifically to a contractor’s needs.

Being financially covered is so important to professional contractors, as being business owners; their limited company is potentially vulnerable to liability claims as a result of a number of different eventualities.

Contractor insurance offers far more than the standard cover in many cases, the existence of a policy offering the best of both worlds, giving the policy holder further benefits than financial protection when insurance is in place. What this means is that many policies are advantageous regarding the professional status of a contractor regarding tax and HMRC guidelines.

For more info – contact Robert J Russell – 972.292.8967

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Is the Lead keeping you from getting a house?

Posted on November 21, 2015 by robertjrussellcompanies

People usually share the nostalgic view that “they don’t build homes like they used to.” And, when it comes to the nation’s older housing inventory, there is good reason. Older houses were often better built to last longer than contemporary houses. They had “class,” “charm,” “character,” and matured lots. Not to forget something that is not so appealing: old houses often have lead.

While paint manufacturers have not been permitted to add lead to their paints since 1980, before then it was a common additive. Adding lead made paints brighter and increased their durability. Experts believe that in some parts of the country, three out of four homes are likely to have some lead paint. Wall paint and pipe solder are probably the most prevalent sources.

Problems with Lead

While experts generally concur that lead is potentially harmful, unfortunately there is little consensus on how much lead is harmful. Children are particularly vulnerable to the effects of lead contamination. Scientists believe that lead may cause serious health problems in children, especially young children. Studies link lead poisoning, which means that a person has a lot of lead in his/her body, with brain damage, nervous system impairment and learning disabilities. It may also cause problems in pregnancy.

Experts believe that children under six are at greatest risk from exposure. Children who live or play with other children that have been lead poisoned are at greater risk. As are also children living in pre-1960s homes and children that do not ingest sufficient levels of iron or calcium.

For good reason, federal health officials recently reminded owners of older homes to ensure that their children are kept away from home improvement projects involving paint scraping or sanding. A recent New York state study of children living in homes where there had been recent removals of lead containing paint revealed that nearly ten percent had dangerously high levels of lead in their blood.

Ingestion and inhalation pose an ongoing threat to children in houses with lead containing paint. Parents need not just be concerned during renovation projects, either. Small children haven been known to eat paint chips and to even bite contaminated window sills. Due to the health risk, prudence therefore suggests that all home purchasers determine whether the home they are buying contains lead.

Legal Requirements

Under recent federal laws, buyers of pre-1978 homes must receive a pamphlet which identifies the risks of lead contamination. The pamphlet states that it is assumed that paint in pre-1978 houses is lead based. Buyers are instructed that they have the right to test for lead in the paint, usually at their own expense.

If lead is found, a buyer has the right to cancel the contract. There are two other options as well: (1) the seller may pay for lead paint removal or (2) the buyer may purchase the house “as is.”

In addition, landlords are now required to advise tenants of the presence of lead paint once it is detected. If lead is found, a landlord must properly remove the lead containing paint. Landlords must also provide their tenants with information pamphlets concerning lead exposure.

Lead As a Contingency In the Sales Contract

It is very common practice for homes to be sold with “contingencies.” The most common contingencies are an acceptable termite inspection and radon inspection (at least on the east coast). But there are few rules in real estate, only customs. Parties are free to adjust their contracts as they deem fit. In the case of an older home purchase, cautious purchasers –especially those with young children, may wish to consider an acceptable lead inspection as one of the purchase contingencies.

Conclusion

In the last ten years, there has been a tremendous amount of litigation nationwide over injuries allegedly attributed to lead contamination. Older paint manufacturers, distributors and retailers have been included in these large, multi-party cases, and plaintiffs’ attorneys have collected a sizable war chest of shared information. Their clients, often people who came into prolonged contact with lead as children, are alleged to be suffering from irreversible brain damage.

Home purchasers never are interested in buying into these kinds of horrifying lawsuits. They might therefore consider confronting this issue before the purchase. If you already own a house with this problem, a professional should be consulted to evaluate your particular situation and define your available options.

As explained above, recently enacted federal laws also cover this issue. Sellers need to ensure that their practices conform with federal law. Some states also have their own laws that must also be considered by buyers, sellers, and tenants.

 

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Housing and Your Garage

Posted on November 20, 2015 by robertjrussellcompanies

In an increasingly mobile society, our automobiles are as important as horses were a century ago. Horse thieves were shot or hung, and we don’t feel much differently about our horsepower. That is why we go to so much trouble and expense to house our cars in garages, which are quickly becoming the number one home amenity.

The work revolution of the seventies changed more than our nation’s economic picture, it also changed the way we live in our homes and influenced how homes are designed. When women went to work in record numbers, numbering more than 56% of the work force today, the two income family became the norm, and along with that, the two-car garage.

Double buying power has contributed to the affluent economy we are enjoying today, which is raising the prominence of the garage even more. Once considered a luxury, the garage is now considered one of the most important assets on a property. Although a two-car garage can be built for approximately $10,000, it can be worth as much as double on the right property. Add a electronic door opener and you’ve got an asset that pays for itself.

Three-car garages are becoming increasingly popular. When you drive through new suburbs, take note of the massive garages that are now being offered with new properties. The larger homes of four and five bedrooms often come equipped with three car garages.

According to a recent article, one garage company owner, Perry Smith is building more and more garages of 24 by 24 square feet, up from the 20 by 20 garages of just a few years ago.

He was quoted as saying, “The reason for that is you’ve got two-car families for sure. But you’ve also got the lawn tractor, the snowmobile, the bicycles the odd who-knows-what-else, and these things need to be in a building and 20-by-20 doesn’t cut it anymore.”

Smith estimates that 70 percent of the company’s business is garage replacement, 10 percent is commercial and the rest is in new construction, including some condominium developments.

But the industry sites other reasons besides large homeowners wanting large impressive garages. One issue is the inefficiency of mass transit in many cities. Another issue is security and convenience. Also, as the economy improves, people will spend their disposable income and collect more items that ultimately end up in the attic or garage. Some families use the garage as a hobby center.

The apartment industry reports that apartment dwellers, particularly, will pay extra for shelter for their cars.

According to Smith, many homeowners want garages built because they think it is impossible to sell their home without one. ” When you consider the garage, in addition to being a shelter for our automobiles, has become a shelter for our stuff — gas grills, bikes, storage of wood for fireplaces — it makes sense. Today, generally, you’ve got two people working on a daily basis so you see more and more people with two-car families. And as kids age, you see households with four or five cars in the family.”

Nonetheless, a garage is a personal investment. It might be better to examine the market before deciding to spend a large amount of money to sell a home. “When you build a garage, you can figure on getting 80% of the value back, but after five years, the value is going to continue to appreciate.”

 

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Household Cleanup Tips

Posted on November 19, 2015 by robertjrussellcompanies

Chances are good that if you’re not being hit by one of our nation’s droughts this summer, you’re being deluged with rainfall. A recent series of strong thunderstorms has swept throughout the United States, wreaking havoc upon homes in their path. While much of the resulting damage is easy to spot — broken windows, missing shingles, and flooded basements — some damage isn’t easy to find. And if those problems remain ignored, they may add up to serious bills later. Professional home inspector Thomas Kraeutler, president of HomeChek of New Jersey, Inc., provides the following helpful tips for detecting hidden damage after a storm:

Foundation failures. Foundations may become weak if water accumulations become heavy. You can check on yours by examining your outdoor and indoor walls, looking for any areas that are cracked or that bulge. If you don’t find any signs of damage, check again each week for the next several weeks. According to Kraeutler, water can wash out soil under the footings holding up your home, and it may not show up as a problem until months after the storm. As you’re examining your interior walls, look for cracks or doors that stick. These, too, are signs that your foundation may be damaged and that your house is shifting. And even if you’re next in line to Bob Villa, don’t attempt to make any foundation repairs yourself, Kraeutler advises. Instead, call an expert — such as a professional home inspector.

Flooded fixtures. Replace any electrical outlet, appliance, or furnace that has had exposure to flood waters. Contaminants in flood water may cause damage to very sensitive components of your electrical outlets and appliances, causing a malfunction, or far worse, an electrical fire. If your heating system has been flooded, Kraeutler says, call an expert heating and cooling contractor or home inspector to examine the system. You may be able to merely replace an individual part or two without having to purchase an entirely new unit.

Backstroke in the basement? If your basement now doubles as an indoor pool, first remove your (damaged) possessions, and run fans to dry the room. Then, Kraeutler says, take precautions to avoid future problems by surveying the outside of your home, looking for any loose or disconnected gutters and repairing any that you find. If you see any washed-out soil along your foundation walls, add clean fill dirt to the area, and make sure that you slope the dirt away from your house.

Gargantuan gusts. The winds from summer storms can cause more damage to a home than you might realize. Kraeutler advises that home owners look first at the ground level of their homes, checking for loose siding, metal trim, and loose soffits; leaks may result if any of those parts are loose or missing. Check your window panes for any signs of loosening, cracks, or breaks, and fix them when necessary. Examine your storm doors’ closers and safety chains to see if they’re bent or broken. Then get out your binoculars, and thoroughly examine your roof for missing shingles — an extremely common occurrence — or collapsed antennae. According to Kraeutler, the force of driving rain may push up underneath roof shingles and cause major leaks later. Also check your flashing around the chimney and plumbing vents; it may become loose. Loose flashing, too, may cause leaks.

Clean up: the fun begins. Most of don’t consider just how many contaminants are floating around in the flood waters inside our homes following a storm. That’s why it’s important to use strong disinfectants (you may also use one cup of Borax mixed in a bucket of hot water) on all surfaces of your home — floors, walls, and everywhere else. Be liberal. And remember to open up your windows and ventilate your rooms while you clean with these disinfectants, which usually fill your house and your lungs with potent odors.

 

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Should you improve your insurance?

Posted on November 18, 2015 by robertjrussellcompanies

If you have just insured your new home and paid a year’s premiums in advance as required by many lenders, you may think you can forget about insurance for a while. But what if you are planning to remodel your home ? Your liabilities may not be covered under your current policy.

Homeowners spend approximately $100 billion annually on home improvements either preparing a home for sale, to remain in their homes or improving the home after move-in. But before the first nail is hammered, you should check with your insurance representative to make sure your home, the contractor and the subcontractors have adequate coverage.

According to the Insurance Information Institute (I.I.I.) homeowners who wait until an addition or extra room is completed to increase their coverage are making a mistake. If the new addition is destroyed or damaged before insurance coverage has been increased, the homeowner may be responsible for the cost of repairing or rebuilding the addition. The I.I.I. suggests that homeowners contact their insurance agent before or shortly after work begins to increase the insurance coverage to cover rebuilding/replacement costs.

Although it varies from state to state and among individual contractors, homeowners need to make certain that the contractor they have chosen has workers’ compensation. Workers compensation pays for medical and rehabilitation expenses, and lost wages if a worker sustains injuries on the job. In some cases, contractors without this coverage may hold the homeowner financially responsible.

In many home improvement projects, the contractor subcontracts the carpenters, electricians, and plumbers. If the workers are not full-time employees of the contractor, they are not covered under the contractor’s workers compensation policy.

It is the job of the homeowner to find out the situation. If the contractor has insurance, you are well within your rights to ask to see the policy and determine for yourself if the coverage is sufficient, and whether or not you will need to extend the liability portion of your own homeowner’s policy.

 

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The Hotel Scam You Need to Know About

Posted on November 15, 2015 by robertjrussellcompanies

The phone rings in the middle of the night. Pick it up and you may fall victim to the latest hotel scam. Here’s the lowdown on how to protect your personal and credit card info on your next trip.

A new wave of scammers are targeting hotel guests by pretending to be calling from the front desk, requesting personal information and credit card details.

The fraudsters, according to Lifehacker, call hotel rooms, claiming to be hotel managers or front desk clerks reporting an error with their booking, asking them to clarify credit card numbers over the phone.

One Reddit contributor experienced this on a recent hotel stay in Vegas: “Sunday morning at 10:30 my hotel phone rings and it’s the manager letting me know their computer system is down at the moment…He lets me know that because the system is down they’re a few hours behind on recovering data. He confirmed my room number and offered me an extended checkout (which sounded great from the hangover) and also offered to comp our least expensive night’s stay for the inconvenience. He mentioned there were 30+ people in the checkout line and offered to check me out via the phone and said I could leave my keys as I left. He asked me to confirm my credit card number and I got a little hesitant and said I would feel more comfortable providing that in person.”

Luckily the Redditor picked up on the scam and headed to the lobby where the front desk confirmed that the call had not come from inside the hotel.

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4 Tips for Replacing Appliances With Energy-Efficient Models

Posted on November 14, 2015 by robertjrussellcompanies

Buying appliances that use less power can be a smart thing to do, but figuring out when to swap an existing model for what’s often a more expensive version can be tough. The payback for new, energy-saving appliances can vary greatly depending on the age of existing models and your usage habits, as well as the cost of electricity in your area.

The National Resources Defense Council suggests you consider a more efficient model for any appliance that’s more than 12 years old. Here are some shopping guidelines to help you do that:

Choose certified appliances. If you remember only one thing when you shop, make it this: Look for the government-backed Energy Star label. This blue and white logo indicates models that have been certified as using less energy.

Go beyond purchase price. Price shouldn’t be the only factor you consider. Find the EnergyGuide label — a yellow and black tag required on most appliances — and look for the estimated annual cost of operating the appliance. Use both figures to make your decision.

Buy only as big as you need. Bigger isn’t necessarily better. Extra-large appliances require more energy, and they run at reduced efficiency when they’re not operating at full capacity.

Look for energy-saving features. Some models or features can save you more money. For instance, a top freezer refrigerator will use 10 to 25 percent less energy than a side-by-side or bottom-mount model, and a natural gas-powered water heater will typically cost less to operate than an electric model.

New appliances are not only more efficient, but they’ve also been proven to perform the same as or better than older appliances, so you won’t have to sacrifice performance to gain energy savings.

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