Houston Consumer Blog

Flexible Spending Account Spending Sprees

It is the last day of the year and if you are enrolled in a Flexible Spending account, today is "use it or lose it" day.

Many FSA's give consumers one calendar year to spend the money set aside in the accounts or the cash goes back to a persons employer.

For that reason the last week in December is popular time for people to go to the eye doctor, dentist or even the pharmacy.

FSA participants can spend their money on a long list of over the counter medications and remedies, so there is no reason to lose the money.

Here is a link to the qualifying expenses.

http://www.irs.gov/publications/p502/index.html

The end of the year may not be the last chance to spend the FSA money.  The rules governing the accounts have changed and now companies can offer participants a 2 and a half month grace period on the accounts.

That could give you until the middle of March to use the FSA money.

Call your FSA plan to find out.

 

Can you retire?

My in-Laws just did it, but it may take me a few decades longer before it's my turn.

To find out how your are doing on the retirement front, check out this site from Consumer Reports:

http://www.consumerreports.org/cro/money/retirement-planning/retirement-readiness-quiz/overview/retirement-readiness-quiz.htm

Netbook Notes

Just when you thought the computer could get any smaller, along comes the netbook.

The light weight personal pc's are tiny, powerful, and in demand.

Netbooks have been available over the internet for a couple of years, but now they are in the stores for the first time.

The machines are ideal for email and web browsing and the cheapest versions cost just $275.00.

Netbooks can be great for high school or college students, but before you buy one you should know about some drawbacks.

First, the keyboard on some models is very small. It's a good idea to go to a store and let your fingers get a feel for the device before buying one.

Also, netbooks can't run games with high end graphics.

Some do not come equipped with Windows operating systems and that can make opening Word documents time consuming.

To see a great review of the top 10 selling netbooks, click here.

The top and bottom paying jobs in Houston

If you are looking for work, good news!   There are plenty of places looking for employees right now. You may have to work outside your chosen career field and you may have to settle for less pay, but if you really want a job you can get one. We spoke with career consultant Marilyn Logan, who told us restaurants, home health care companies, valet parking companies, delivery services, casinos, and sports arenas, all are hiring. While you look, here's a list of the top and bottom 100 salaries in Houston right now.

See the top and bottom paying jobs in Houston

Power to save

If you have not heard, the cost of natural gas is falling and that can save you money on your power bill.

How?

Here in Texas, most of our electricity is generated by natural gas powered electricity plants.

When the cost of natural gas goes up, as it did in the summer, the cost of electricity rises.

Now the cost of natural gas is falling and so too is the electricity rate.

Right now you can find a 6 or 12 month contract at a little more than 12 cents per kilowatt hour.

If you are paying much more than that, it may be time to switch plans or providers.

One thing to keep in mind, if you are in a year long contract, it may cost you up to 200 dollars to break the contract.

But depending on your current rate and usage, you may be able to save more than that by switching.

Call your provider to find out about switching to a new plan, or check the current advertised rates here.

Shopping for Shipping

Finally, procrastinators are getting a break. If you still have to buy gifts for loved ones, here's a deal for just for you. On December 18th more than 100 retailers are offering free shipping. If you buy on Thursday you are guaranteed to get the items to their destinations by Christmas. To see a full list of the places taking part in the Free Shipping Thursday, click here.

If you have already bought your gifts and still need to ship them, now is the time to act. The U.S. Post Office and the private shipping companies are still offering the lowest rates right now. The cheaper postal rates are available until the 20th. As for FED EX and UPS, the lowest rates are available until Thursday of this week.

Prosthetic Problem

Imagine what it would be like to have to hide your face because you're the un-willing center of attention. David Kelly was in that situation- he had lost his nose to cancer. Our angels, however, gave him the only Christmas present he wanted, a prosthetic nose. Kelly's insurance covered 15 surgeries, 30 radiation treatments and 125 appointments at  M.D. Anderson Cancer Center. When he had to stop working because of the cancer he lost his job and insurance, and he couldn't afford to pay for cobra insurance. He had no income and ended up losing his car and his utilities were turned off. If that wasn't hard enough, medical treatment stopped when his insurance stopped. Kelly couldn't get a prosthetic nose. After waiting for five months he wrote us and within two weeks Kelly had his nose.

Here is M.D. Anderson's policy for patients whose insurance is topped off or cut off during treatment.

"If you cannot pay your patient balance in full, it may be possible to arrange a Payment Plan. Your Business Center Representative or Financial Counselor can provide information about the monthly Payment Plans which are available. If the cost of your care is beyond your financial means and you are a Texas resident, you may request an Application for Supplemental Financial Assistance from your Business Center Representative or Financial Counselor. Eligibility for Supplemental Financial Assistance is based on the Federal Poverty Index."

Where's my insurance money?

If you have Hurricane Ike storm damage this next one is for you.

We have gotten several complaints from storm victims concerning their insurance money.

By now most have gotten a check from the insurance company, but for many, the check is written to both the storm victim and the victim's mortgage company.

It is not uncommon for a mortgage company to hold the insurance money and then distribute money as repairs are made to their satisfaction.

But some home owners say the mortgage company is not releasing any money at all.

The Texas Department of Insurance says mortgage companies have 10 days to once they get the insurance money to tell home owners what must be done to get the money and then 10 days to release the money once the requirements have been met.

Check out the Frequently Asked Questions from the Texas Department of Insurance here.

If your mortgage company is keeping your repair money, you can call the Texas Department of Insurance at 1-800-252-3439.

Unemployment & You

If you are recently unemployed, or think you may soon lose your job, there are things you need to know about the unemployment process.

First, to get unemployment benefits you have to register with the Texas Workforce Commission.  You can do that by calling 1-800-939-6631 or 281-983-1100, but be warned the numbers are often busy.  There is an easier way to register for benefits, do it on line here.

The most you can expect is $392 every two weeks.  The benefits last 6 months.  You will have to pay for your own health insurance, but the state of Texas does have the Chips program for kids.  Find out more about that here.

If you get a severance package, you may have to wait until the payments end before getting unemployment benefits.

You may qualify for food stamps and child care, but you'll have to apply for those separately.

Texas Workforce Solutions has more than 20 local offices that can help you find a job.  They even offer free resume classes, interview tips, and job leads.  You can find the locations here.

Ike Renters Rights

Three months after Hurricane Ike a lot of people are still displaced. Lyonel Harris for one. He lived in his retirement apartment home for 6 years, but was forced out when the building was severely damaged by the storm. Harris said fire officials evacuated him and other residents.

"They came back early the next morning knocking on everyone's door saying everyone had to evacuate it's unsafe." said Harris.

Harris was worried about his rent. He was paying for a place he couldn't live in. In this case, residents will be given credit for future rent due, and those who left will receive their rent money and deposit back plus interest.

Houston Apartment Association  Howard Bookstaff says if a place is un-livable either you or your landlord can terminate the lease. You pay rent until the termination date and are eligible for your deposit back. 

Here are a couple or websites that are useful to both renters and owner/managers on recouping rent and security deposits following devastating destruction to apartment buildings during disasters   www.haaonline.org http://www.haaonline.org/portal_res.aspx, http://www.haaonline.org/web/2007/09/legal_referrals.aspx. http://www.haaonline.org/web/2008/09/action_alert.aspx. 

Lori

Cyber Monday Deals

Today is the day retailers offer online sales and free shipping in an effort to attract shoppers.

This year Black Friday sales were predicted to be slow, but according to the National Retailer Federation more people went shopping after Thanksgiving this year than a year ago.  The Federation also says those shoppers spent more money this year than in 2007.

The Cyber Monday deals are still available, check them out here.