Information about low income health insurance in California

Medical costs are no more affordable to the common people. At times of medical emergency you must be able to avail of the appropriate treatment and a health cover will enable you with this opportunity. The government has taken a number of measures to see that the residents of California are covered by suitable medical insurance plans. Every resident must understand the importance of a suitable health care coverage and do the needful to avoid heartbreaks during emergencies for themselves or their family members.

Affordability Care Act enacted by the government is something that you must know before venturing into the arena of health care plans. In a way extending the health care coverage to the uninsured, the Affordable Care Act has come to offer a greater number of choices in front of the customers. In addition, it has also made quality health care affordable to all. The act has created what are called as health insurance exchanges in the state such as Covered California. These establishments provide the avenue for those looking forward to purchase affordable low income health insurance plans. One striking benefit of the act is as follows.

Previously, health insurance providers denied health care coverage to individuals reported with preexisting health conditions. Henceforth, they have been mandated to offer health care coverage to the needy irrespective of the preexisting conditions. One another provision makes it possible to keep the young adults stay covered under their parents’ health insurance policy until the age of 26 or till they get an independent job, whichever is earlier.

The act has also benefited the low income health care policy holders in some more useful ways. The upper limit that the insurance companies had placed on the amount paid by them to the hospitals for certain treatments including hospitalization, maternity, newborn care and rehabilitation services is now lifted off. Also the same arrangement holds good for drug prescription also. In addition, the health care insurance providers must now offer free cover to a set of preventive care services like immunizations, vaccinations, mammograms, HIV screening, blood pressure and cholesterol tests. Senior citizens will get discount for prescriptive drugs. Thus, the host of measures introduced by the act has now made it easier for low income health insurance subscribers to enjoy maximum coverage for a less spending. Therefore, a large number of uninsured individuals have been motivated to purchase a suitable health care coverage for themselves and their families.

There is a special version of Medicaid meant for California citizens implemented by the state namely Medi-cal. This is a federal sponsored health insurance program that is exclusively meant for low income California citizens and their families. The affordable care act has made provisions to extend the benefits of the Medi-cal coverage to low income adults not having any children. Provided the families and individuals meet certain eligibility requirements, Medi-cal will now offer either subsidized or no-cost medical insurance coverage. Thus, a good number of positive developments by the state have made it possible for a large number of low income health insurance seekers to obtain coverage with ease.

How to avoid Repossession of your Car during Bankruptcy?

Car is no longer a luxury for an American; it has become a necessity for his survival.

Don’t worry about your car, when you file for Chapter 7 bankruptcy. You can keep using your car during bankruptcy. You just have to inform the bankruptcy court about your decision by filling an official document called Statement of Intention (SOI).

Why is it important to take a quick decision about your car?

When a person files for bankruptcy, the “Automatic Stay” prevents creditors from repossessing your assets. But, the stay is not absolute. The lender can ask the bankruptcy court to remove the stay and repossess your car. So, it is important that you take care of your car before filing for bankruptcy.

If you want to keep your car during Chapter 7 bankruptcy and don’t want it to repossess, you have two other options:

1. You can opt for Redemption and pay a lump sum amount to the lender. The amount will be equal to the current value of the car.

If you have money to cover the current value of your car, you can opt for redemption and buy the car disregarding the total loan balance. For example, your total loan amount may be $15,000 but if the car’s current value is just $10,000, you will have to pay $10,000 only.

2. You can enter into a contract with your lender and continue to make payments to the lender as if you did not file for bankruptcy. It is called Reaffirmation.

Now, most people who file for bankruptcy don’t want to part with a large amount of money. So, redemption is a less popular choice. If you want to keep using your car during bankruptcy, you can choose reaffirmation and continue making smaller payments to the lender in comparison to making a lump sum payment.

What are the benefits of Car Loan Reaffirmation?

• Impossible to get loan approval

Lenders don’t provide car loan approval to people in bankruptcy. Also, it becomes very difficult for people with a history of recent bankruptcy to obtain a loan. So, it is wise to stick to your current loan program.

• Higher loan terms

Even if you manage to get approval, the interest rates are exceptionally high on post-bankruptcy auto loans. It is extremely risky to obtain a loan with exorbitant rates because it will impair your credit score.

• Upper hand in the negotiation process

If you let the car repossess, lender will have to carry out a lot of processes to recover money. He/she will have to sell the car at an auction and accept whatever money he/she receives. So, it is in his/her interest that you keep making payments. You can take advantage of this situation and obtain lower rates on your loan.

So, now that you know all about car loan reaffirmation, do not worry about your car during bankruptcy.

Rates Skyrocketing for Residential Projects in Goregaon

Real estate companies are launching various residential projects in Goregaon, offering attractive options to the buyers. This suburb has witnessed unprecedented growth in the last few years. It has emerged as a sought-after location for potential buyers from Mumbai and all over India.

Affordable Rates Compared to Central Mumbai

Being one of the greenest suburbs in Mumbai, this lush destination is a favorite among buyers who don’t want to stay in a densely populated area of Mumbai. Rate is also an important factor due to which this suburb has become quite popular. Even though property rates have skyrocketed in this area, price of a flat in Goregaon is still affordable compared to the rates in Bandra and Andheri. Since belts from Bandra-Andheri and Powai have become unaffordable for majority of buyers in the city, they are coming to Goregaon for buying a property.

Developers Launching New Residential Projects

Considering the growing demand, property developers as well as real estate agents in Mumbai are making good money by helping people buy, sell or rent Goregaon properties. Developers are taking advantage of the growing demand by launching large township projects and residential complexes with luxurious yet affordable flats. They are offering world class amenities to ensure a comfortable living experience for the buyers.

Why Buy a House in Goregaon?

Located in the northern part of Mumbai, this suburb is easily accessible through auto-rickshaws, trains and taxis. Film City and Filmistaan are also located in this part of the city. Many famous Bollywood celebrities and businessmen also have a house in Goregaon.

This suburb is quite close to commercial areas such as Andheri and Bandra. The Western Express Highway is in proximity, making it easy for the residents to reach other parts of the city conveniently.

Proximity to Bandra-Kurla complex and eastern and western suburbs has accelerated the demand for properties in this area. It has reputed colleges, schools, malls, restaurants and healthcare facilities. Growth in infrastructural facilities at Goregaon has pushed property rates.

Per square feet property rate in Goregaon West ranges between 12,500 and 15,500 whereas in Goregaon East, properties are available at 12,500 to 18,500 rupees per square feet.

Will 2015 Bring Good News for Mumbai’s Real Estate Sector?

Last year, cities like Mumbai and Kolkata didn’t witness any increase in demand for properties, however, some developers launched new projects during the end of 2014. According to the industry experts, 2015 will bring some good news for the housing sector in India. It is being predicted that global investors will start showing renewed interest in India’s residential market. Spike in FDI (Foreign Direct Investment) in the real estate sector will also increase. Developers will be able to enjoy improved liquidity as new rules for Real Estate Investment Trusts are also expected to be implemented this year.

In order to increase demand, developers will have to make price corrections. This might prove to be a good year for buyers looking for attractive realty options in Goregaon or other parts of the city.