|
July 22, 2010 |
Vol 17, Issue 32
|
|
| |
| |
| |
|
Welcome to this week's
edition of the FAHSA Link!
Count-Down is On
-- Three Days 'til Convention -- Pack
your bags for Boca! We look forward to seeing
you at the Boca Raton Resort for FAHSA's
Strategic Visioning Workshop on Sunday, July 25
in conjunction with FAHSA's 47th Annual
Convention and Exposition. FAHSA has posted
copies of most of the education session handouts
on the website for download. Please look for
the website link in your email with a reminder
letter. If you are attending the convention,
please print copies of the session handouts to
bring with you. FAHSA will be providing CDs to
all participants, generously sponsored by
RXperts, Inc., so bring your laptop and plug in
the CD to follow along with the presenters.
Special
Legislative Session a Non-Starter -- In
less than an hour of convening a special session
on Tuesday at the request of Governor Charlie
Crist, the House adjourned without taking any
action on a constitutional amendment restricting
off-shore oil drilling. The Senate followed a
couple of hours later. Leadership in the House
and Senate indicated that more time was needed
to study the situation and its affect on Gulf
Coast businesses. The tone in the Senate was
different in that there was some bipartisan
support for a constitutional amendment. A vote
to sine die narrowly passed by an 18 to 16 vote.
A couple of weeks ago, Senate President Jeff
Atwater asked the Select Committee on Florida's
Economy, chaired by Senator Don Gaetz, to gather
information about the economic impact of the oil
spill on businesses and citizens in Gulf Coast
communities and to develop legislative
recommendations based on its findings. The
Senate Select Committee on Florida's Economy met
on Tuesday after the Senate adjourned to hear
proposals from Senate staff and state economists
on how to help those affected by the spill. That
same day, House Speaker Larry Cretul created six
work groups to do the same.
Rep. Cretul's opening remarks to House members
were anything but complementary of the Governor.
Excerpts of his speech follow.
"The Florida Constitution authorizes the
Governor to call the Legislature into special
session for any legislative purpose. When the
call is issued, we are compelled to assemble. By
assembling here today, you have performed your
duty as the Governor may demand. But from the
moment a quorum assembled here, the agenda in
this House is and always will be set by its
membership. The Governor has no direct authority
to propose constitutional amendments to voters.
The Governor has no veto power over proposed
constitutional amendments."
"The fact remains that he has called us here at
the last possible moment to consider a
constitutional amendment for which he never
proposed language and permitted far too little
time for reflection and review. That is a
terrible way to propose constitutional changes."
|
|
 |
|
| |
ALF News
|
|
Genworth Survey
Offers Nationwide Comparison of AL Costs --
We are reprinting part of
an AAHSA article containing comparative
information about assisted living facility costs
for the benefit of our for-profit members.
According to this year's survey, the cost of
care among facility-based providers has steadily
increased over the past five years while home
care costs have remained relatively flat.
Genworth reports that the median monthly rate
for assisted living in 2010 is $3,185, which
represents a 12-percent increase over 2009 and a
6.7 percent annual growth over the past five
years.
The median annual cost of a one-bedroom assisted
living residence in Florida is $30,600,
according to the Genworth 2010 Cost of Care
Survey, a new survey by Genworth Financial,
which is a publicly traded global financial
security company. Some other costs for similar
assisted living residences in other parts of the
U.S are as follows:
-
$42,000 per year in California
-
$43,020 per year in Illinois.
-
$39,060 per year in New York.
To accompany its report, Genworth offers an
interactive Web feature where visitors can find
specific cost information by care type for 436
cities and regions nationwide. The Web site
allows users to compare costs across four
locations and to calculate what the cost of care
will be in 10, 15, 20, 25 and 30 years.
Source: AAHSA
July 2010 Assisted Living Report
|
|
Education News
|
|
Order Your Copy
of the Background Screening Webinar -- If
you missed the Background Screening Webinar
yesterday featuring Molly McKinstry, Agency for
Health Care Administration and Tim Giesecke,
Florida Department of Law Enforcement, the
webinar and audio was recorded. Place an order
to download a copy of the webinar and watch with
your staff. To receive two contact hours, take
the 10-question test, and fax a copy of it along
with the completed CE Broker form to FAHSA. To
order your copy,
click here.
Order Your New Two-Hour Domestic Violence and
Human Trafficking DVD Now -- FAHSA has
developed a NEW
Domestic Violence and Human Trafficking DVD
featuring Robin Thompson, M.A., J.D., an expert
in domestic and sexual violence law and policy
analysis, program evaluation, and facilitation.
Order your new DVD now, by downloading a
copy of the
order form. Either mail or fax the order
form to FAHSA, 1812 Riggins Road, Tallahassee,
FL 32308, fax: (850) 671-3790 with your check or
credit card information.
Join Us
for Upcoming Training Opportunities:
|
Financial Tips
|
Plan to Attend "The
Art of the Deal: Changing Times Require a Change in
Financing Strategies" on Monday, July 26 beginning
at 10:30 a.m. during FAHSA's Annual Convention.
A Lesson In Managing Interest Rate Risk --
Long-term interest rates remain at
historic lows and yet, as we all know too well,
credit remains tight. Recent economic data
suggests the Fed may have to take drastic action
in order to thwart deflationary pressures. Such
measures may cause long-term rates to drop
further in the near term but pose considerable
risk of rising significantly thereafter. What
can your organization do to proactively manage
any interest rate risk?
Rating agencies and financial advisors generally
provide guidance to borrowers that not more than
25% of debt should be unhedged. Hedging can be
accomplished in a number of different ways, but
most common are: 1) issuance of fixed rate debt;
2) match funding with the investment portfolio;
and, 3) utilization of swaps. Each of the
methods has its pros and cons. For instance,
fixed rate debt locks in a borrower's credit
profile and lacks flexibility. Match funding
usually results in lower overall investment
returns and can cause negative returns in a very
low rate environment as presently exists. Swaps
have mark-to-market adjustments and are commonly
stigmatized by the general public as a result of
misuse and uninformed decisions.
Lancaster Pollard has long been an advocate of
the variable rate debt structure combined with
appropriate methods for mitigating interest rate
risk. "Appropriate" means adopting an
asset-liability management plan to guide the
decision-making process of your organization
relative to obtaining and maintaining access to
the capital markets. We do not believe hedging
is appropriate to make a "bet" on the market and
direction of rates. Such actions are both
ill-conceived and lack justification if meeting
the organization's mission is the ultimate goal.
Some combination of variable rate debt and
well-planned hedging techniques has served
non-profit borrowers well. In the end, the
structure allows for the lowest overall cost of
capital and greatest flexibility. The
flexibility is important for any organization
contemplating future capital needs or making
adjustments in response to operational or market
issues.
Earlier this month, Lancaster Pollard met with
an existing client to review the asset-liability
management plan we helped develop as part of a
comprehensive recapitalization and debt
issuance. The organization was assessing its
financial position, funding sources, the overall
credit environment, and - of particular timing
importance - discussions with the letter of
credit ("LOC") provider to extend the term for
enhancement of the variable rate bonds.
Here is what we were able to get done:
-
10-year fixed payor swap
-
Notional amount of $11,875,000 (amortizing)
-
Borrower pays a fixed rate of 2.93%
-
Counter-party pays 67% of LIBOR
-
$500,000 maximum loss for an unwind of the
transaction during the 3-year extension of
the LOC
-
$0 maximum loss for an unwind after the
3-year LOC extension period
This structure is particularly appealing to
borrowers interested in swapping at today's low
rates for as long a term as possible, but are
leery of LOC renewal risk beyond the extension
period because a non-renewal can be cause for
termination of the swap.
The entire transaction reflects the more prudent
underwriting of credit risk that has returned to
the capital markets. Mitigating interest rate
risk with a swap is more than just locking in a
rate. The consequences of early termination and
impact to the financial viability are only a
couple of the other issues that ought to be
considered. This innovative solution
implemented by an informed borrower will serve
the organization well regardless of what happens
to interest rates and long after a renewal or
extension of the LOC in 2013.
|
|
General News |
|
CNBC Ranks Florida
#1 for Its Workforce --
Florida has
been ranked number one in the nation for its
workforce by CNBC. The ranking came in CNBC's
fourth annual America's Top States for Business
rankings - a study of all 50 states that
examines 10 different categories, including
workforce, to measure each state's ability to
attract businesses. Florida moved up from the
number three spot in 2009, reclaiming the
number-one ranking the state held in 2008.
Workforce
Florida Inc., the state's business-led workforce
policy and oversight board largely appointed by
Governor Crist, is charged with strengthening
Florida's business climate and helping
Floridians enter and advance in the workforce.
Through the recently launched Microsoft® Elevate
America initiative, an innovative public-private
partnership, free technology training is
available to Floridians for a limited time.
Another recent workforce-system initiative,
responding to a real-time need confronting the
state, is the creation of the
Florida Gulf Recovery Jobs web portal.
The portal is dedicated to helping Floridians
access information about jobs stemming from
recovery and cleanup of the Gulf of Mexico oil
spill.
To view the CNBC workforce rankings,
CLICK HERE
To find out about the comprehensive workforce
services and resources available in Florida,
visit
Employ Florida.
Advair Diskus Stolen
Product Warning Issued by FDA -- Certain
Advair Diskus inhalers
stolen from a distribution warehouse in 2009
have been found in some pharmacies. The safety
and effectiveness of the stolen inhalers cannot
be assured and they should not be used. The lot
numbers, doses, and quantities of the stolen
Advair Diskus inhalers are:
-
Lot 9ZP2255 - NDC 0173-0696-00, Advair
Diskus 250/50, 60 Dose, Exp: Sep 2010
(14,400 inhalers)
-
Lot 9ZP3325 - NDC 0173-0697-00, Advair
Diskus 500/50, 60 Dose, Exp: Sep 2010
(11,200 inhalers)
Advair Diskus (fluticasone propionate and
salmeterol inhalation powder) is an inhaler used
to treat patients with asthma and chronic
obstructive pulmonary disease. The products were
reported stolen in August 2009 from a
GlaxoSmithKline warehouse near Richmond, Va. The
inhalers found recently were the first from the
stolen lots to be found in commerce. However,
more stolen product may still be on the market
and the FDA continues to aggressively
investigate the matter.
RECOMMENDATION: Patients who have products with
these lot numbers should immediately stop using
them, contact GlaxoSmithKline's Customer
Response Center at 888-825-5249, and follow-up
with their physician or pharmacist to obtain a
proper replacement.
|
HCBS News
|
Thought-Provoking
HCBS/ALF Roundtable Session Planned during Annual
Convention -- The list of topics for the HCBS/ALF
Roundtable Session (Tuesday, July 27 from 2 PM until
3:30 PM) should result in a lively discussion.
Click here to view the topics. This is your
opportunity to ask questions and share information
about any topic that is of interest to you as a
provider of home and community-based services or
assisted living. Mike Bell, the chair of FAHSA's
HCBS/ALF Public Policy Committee, will be
facilitating the session. Please join us!
Medicare Fraud
Crackdown Leads to Arrests in Florida -- An
ongoing, multistate healthcare fraud investigation
has led to more than 90 individuals being accused of
defrauding Medicare of more than $251 million. The
arrests occurred in Miami, FL; Baton Rouge, LA;
Brooklyn, NY; Houston, TX; and Detroit, MI and were
linked to doctors, nurses and others who have
allegedly billed Medicare for millions of dollars
worth of medical equipment, physical therapy
services and HIV treatments that were never
delivered to patients. The raids were conducted as
part of the new Health Care Fraud Prevention &
Enforcement Action Team (HEAT) initiative, and
reportedly involved roughly 360 agents.
The announcement of the arrests came at a joint U.S.
Justice Department and U.S. Department of Health and
Human Services summit in Miami on Friday. Attorney
General Eric Holder and HHS Secretary Kathleen
Sebelius, along with a wide array of federal, state
and local partners, beneficiaries, providers, and
other interested parties, met to discuss innovative
ways to eliminate fraud within the U.S. health care
system, according to a DOJ/HHS statement.
Source: McKnight's
Long-Term Care and Assisted Living, July 20, 2010
|
Housing & Service Coordinator News
|
HUD Requests
Information
on Changes to Section 8 Renewal Guide
-- The Department is seeking your comments on
the proposed changes to the Section 8 Renewal
Guide. The draft page changes to the Section 8
Renewal Guide are posted on the
HUD Website. The draft page changes will be
posted for ten business days after the
publication of the Federal Register Notice.
Comments are due to HUD 20 business days after
the publication of the Federal Register Notice
and must be identified by specific page and
paragraph reference.
Comments may also be submitted by
email or overnight mail to: Department of
Housing and Urban Development, Attention:
Section 8 Renewal Guide, Room 6134, 451 7th
Street SW, Washington, DC 20410
Send Your
Applications Now for the Sustainable Communities
Regional Planning Grant
-- August 23, 2010, one minute before midnight,
is the deadline to receive applications for the
Sustainable Communities Regional Planning Grant
Program. The objective is to improve efforts
that integrate housing and transportation
decisions, and increase state, regional, and
local capacity to incorporate livability,
sustainability, and social equity values into
land use plans and zoning. Approximately
$98,000,000 will be used for competitive grants
to support preparation of Regional Plans for
Sustainable Development, with $2,000,000
reserved for capacity support grants. Specific
questions regarding the Sustainable Communities
Regional Planning Grant Program requirements
should be directed to: sustainablecommunities@hud.gov
or may be submitted through the www.hud.gov/sustainability
website.
If your organization is interested in applying
for the Sustainable Communities Planning Grant
Program, please call the HUD NOFA Information
Center as soon as possible. The NOFA Information
Center will ask for your organization name and
address, contact name, email, and telephone
number, including area code. HUD's NOFA
Information Center at (800) HUD-8929.
FHA Announces
Updated Standards for Multifamily Lenders --
Federal Housing
Administration's (FHA) Commissioner David
Stevens recently announced plans to implement a
series of changes to the multifamily insurance
programs that will update underwriting policies,
increase lender and underwriter quality, and
align loan application, submission and approval
standards. The policy changes were announced in
Mortgage Letter 2010-21 and will affect all
multifamily rental programs. The changes
include:
-
Revised underwriting standards;
-
Enhanced verification of property financial
performance;
-
Expanded borrower mortgage credit analysis;
and
-
Pre-screening of proposals.
In addition to the changes outlined in the
mortgagee letter, FHA's multifamily programs
will be pursuing additional steps to update
agency standards and align the programs with the
Obama Administration's broader goals for
financial oversight.
Source: HousingOnline.com
|
|
Nursing Home News |
CMS Posts Payment Update for Nursing homes --
1.7%
Medicare Payment Increase in FY 2011 --The
Centers for Medicare & Medicaid Services last
Friday posted payment updates for skilled
nursing and inpatient rehabilitation facilities'
prospective payment systems for fiscal 2011.
Nursing homes will realize a 1.7% increase in
its market basket rate, while IRFs' will rise by
2.5%. Read more about this and other news in
this week's Nursing Home Alert, NH 10-25 by
clicking the website link below.
Other Nursing Home News:
- CMS Posts Payment Update for Nursing
homes -- 1.7%
- Medicare Payment Increase in FY 2011
- Five-Star Quality Rating System - July
News
- Secretary Sebelius Announces Final Rules
To Support 'Meaningful Use' of Electronic
Health Records
-
New Law Becomes Effective Eliminating
DOH Kitchen Inspection-But Make Sure to
Check Your Local Ordinance
-
Civil Money Penalties for Nursing Homes
-
AARP Sends Message to Congress on FMAP
|
|
Preferred Business Associates News |
Plan to attend the Insurance Panel session on
Thursday, July 29 from 8:30 to 10:30 a.m. during
FAHSA's Convention.
 Employer
Question
How can we lower our Workers Comp premium when
rates are set by the state?
Agent Answer:
Most insurance professionals only identify 3-5
cost factors for Workers Comp. We have
identified at least 13 and CLAIMS drive almost
every aspect or Workers Comp. Rates are down
over 65% the last 5 years, but your Experience
Mod Factor may have increased for no apparent
reason. Has your Mod Factor Calculation & Audit
been reviewed by an expert? Please join us for
our Summit /FIC education session at the FAHSA
convention next week to learn the answers to
these and many more questions regarding Proper
Claims Management, Back 2 Work Programs, The
Myth of Experience Mod Factors and overall Tips
to Reduce your Insurance Cost "A
Return-to-Work Program Can Lower Workers' Comp
Costs" -- Brought to you by Summit, the people
who know workers' comp®
When one of your employees is injured on the
job, your business can be affected in many ways,
from production to morale. Historically,
returning an injured worker to the workforce
during the healing process has proven to be
beneficial to that employee, the co-workers and
the company.
How does a business implement a return-to-work
program? To create your own program, keep these
tips in mind.
-
Put precise job descriptions in writing.
-
Get management buy-in. No program works
unless the people at the top believe in it.
-
Make your program a benefit that employees
know about and understand. Include a
description in your return-to-work
orientation training as a company benefit.
-
Stay in close contact with your injured
employee. Once the injury is reported,
supervisors should track employee progress.
Appoint a return-to-work coordinator to make
calls, visit, send cards-whatever is
appropriate.
-
Stay in contact with the physician. Your
return-to-work coordinator can contact the
physician with the injured employee's job
description and ask for any physical
limitations.
-
Offer transitional duty with a focus on
tasks.Supervisors, managers and Human
Resource directors can help identify tasks
that can become temporary and modified jobs
to meet the injured worker's medical
limitations.
-
Document, document, document. Be able to
show every step you made to try and get your
employee back on the job. Keep your records
confidential and in a designated place.
Here at Summit, comp is all we do, and we want
to help you. Contact your independent insurance
agent to find out more about Summit workers'
compensation program, including Back2Work™,
Summit's return-to-work program, offered to
FAHSA members.
|
|
Career Center |
|
Welcome to the
Florida Association of Homes and Services for
the Aging Career Center!
Your destination for
exciting Aging Services job opportunities and
the best resource for qualified candidates in
the Florida Aging Services Industry. Searching
for a job in Aging Services?
Looking to fill a
position? This job board is custom tailored for
the Aging Services industry, which means we
attract the most qualified professionals in
Florida.Create
an Employer Account,
search resumes and post your Aging Services job
now!
|
Copyright 2010 -- Publication of the Florida
Association of Homes and Services for the Aging
(FAHSA).
- FAHSA Chair: Terri Cunliffe
- FAHSA President/CEO: Janegale Boyd
- Managing Editor: Gail Matillo, MPA, COS
Copyright Information: Copies of the articles
and other information in this publication may be
noncommercially reproduced for the purpose of
educational or scientific advancement.
Otherwise, no part of this publication may be
reproduced or utilized in any form or by any
means, mechanical or electronic, including
photocopying, microfilm and recording, or by any
information storage and retrieval system,
without the written permission of the editor.
Correspondence: Should be addressed to: Editor,
1812 Riggins Road, Tallahassee, FL 32308. For
telephone inquiries, call (850) 671-3700. Or
E-mail FAHSA at info@fahsa.org. © 2010 FAHSA.
All rights reserved.
Disclaimer: The information contained in this
correspondence is not intended as a substitute
for legal advice. Please discuss any information
gathered from this or any other FAHSA
publications with your legal counsel in the
context of your particular situation before
implementing any new policies or procedures.
|
|
|