Category Archives: Q&A with Lubell Rosen

Plaintiff attorneys challenging COVID-19 Medical Immunity laws in Florida

Health care Professionals continue to put their lives at risk amid the battle against the COVID-19 pandemic. While many states, such as New York, have temporarily implemented safeguards shielding doctors from civil liability for medical malpractice suits related to COVID-19 treatment, Florida has not followed suit. As of today, Florida laws remain unchanged, leaving doctors open to an influx in COVID-19 related lawsuits. On April 4, 2020, New York Governor Andrew Cuomo signed The Emergency Disaster Treatment Protection Act. The
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Question: (Part 2 of 4): While waiting for the government to re-fund the PPP loan program, what else can my medical practice do to bring in revenue or save money while our office is partially or fully closed? Answer: 2. HEALTH INSURANCE RECOVERY: Another practice area of the firm that can help make you money at no expense to you is our health insurance recovery team, led by Sinead B. Killeen, Esq. This group will help you make the most
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Question: (Part 1 of 4): While waiting for the government to re-fund the PPP loan program, what else can my medical practice do to bring in revenue or save money while our office is partially or fully closed? Answer: 1. PIP RECOVERY: If your practice sees patients that were involved in an automobile accident, you may have unpaid or underpaid medical bills. Ryan Sanders, Esq. heads our PIP recovery team. PIP Insurance is supposed to pay 80% of all medical
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Question: Is it true that banks are running out of money for the PPP program today? Answer: All predictions are that the money will run out today or early tomorrow. Community banks may last slightly longer but it is estimated that even they will be out before the weekend.If you haven't made your application yet, we strongly advise you to get it in this morning. Our firm will continue to assist clients process applications even after funding ends in the
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Question: Why is HHS handing out stimulus money to some doctors and not others? Answer: 30 billion dollars were set aside from the stimulus to go directly to the healthcare industry to fight Covid-19. If HHS determines a doctor is a participating Medicare, and essential to the fight against Covid-19, HHS will automatically send some of the thirty billion to that doctor. There is no way to apply for the money distribution is solely HHS' call.   Written by: Joshua
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Question: Which banks are still accepting loan applications and which banks have stopped or never really started? Answer: Wells Fargo, City National, and BBVA USA Banks have paused their application programs. SunTrust and BB&T are merging. They are not processing anything yet just asking for customer’s names while placing them in what they call “a line”. BankUnited, Capital One, and Citizens are not processing loans yet either. Bank of America is JP Morgan Chase, Fifth Third, Regions, and TD are
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Question: If I am an independent contractor, or sole proprietor, how much can I qualify to borrow under the PPP? Answer: An independent contractor, or sole-proprietor, can qualify for 2.5 times their monthly net income as reported on their 2019 taxes. This requires that you at least have a copy of your 2019 taxes, even if you have not submitted them yet. While banks were supposed to be ready on Friday to issue PPP loans for sole proprietors, and independent
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Question: I hear the application form at some banks is two pages, other banks take fifteen minutes to apply, is this true? Answer: No, people mistake the one, or two-page, form they fill out through Suntrust, BB&T, and others, as the full application. What you are really doing is reserving a spot in line for the funding, but you are not applying for the funding yet. The reason why banks do this is because the regulations keep changing, a full
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Question: Can I furlough, fire, or cut time, for employees while waiting for my PPP Loan to come through? Answer: Yes. In June of 2020 you have to have as many employees as you did in June of 2019, to get full forgiveness. However, that only applies to having that many employees in June of 2020. If you are not able to sustain that number of employees now there are things you can do until June 2020, to reduce your
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Question: Is the funding for the PPP running out? Is it too late for me to apply? And which bank is best for me to apply? Answer: It is not too late to apply. However we do recommend applying as soon as possible before funds run out. Just yesterday the government announced additional funding, so it seems likely they will continue to add money to cover loans. But most experts agree it will impossible to cover all requested loans, so
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Question: My bank says I do not qualify for a PPP Loan or that they are not issuing them, and other banks will not talk to me because I do not have an account with them. What should I do? Answer: Be patient, the program rolled out last Friday. It was deeply flawed and did not have anti-money-laundering guidance for banks to deal with borrowers who are not already clients of the bank. Hence, the banks do not know, at
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Question: I hear the rollout of the Payroll Protection Program was rocky, and last-minute changes made the rules different. What are the biggest changes? Answer: The night before the rollout of the Payroll Protection Program, the Treasury Department changed the rules, putting banks front and center as the main bodies through which loans are processed. However the Fed gave the banks few rules about how to be an SBA PPP Lender. Some large banks took all of Friday to roll
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Why should I hire Lubell Rosen to file my application for financial relief instead of doing it myself, or using a bank rep or a CPA for assistance?

Question:   Why should I hire Lubell Rosen to file my application for financial relief instead of doing it myself, or using a bank rep or a CPA for assistance? Answer: 1. When a doctor hires Lubell Rosen, it is our job to maximize your recovery. In other words, we will use our expertise to figure out how you can get the most money borrowed and more importantly, the most forgiven. While we make no guarantees, in most cases we
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I heard new regulations keep coming out on the Paycheck Protection Program, is that true, and how do they change what percentage of my loan will be forgiven?

Question: I heard new regulations keep coming out on the Paycheck Protection Program, is that true, and how do they change what percentage of my loan will be forgiven? Answer: The effective date of the PPP was supposed to be April 1, 2020, now it is April 3, 2020, and new regulations come out, sometimes, several times a day. At Lubell Rosen we are on top of these changes, constantly figuring out how they can best benefit our clients. For
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If I already laid off employees, can I qualify for an SBA Economic Injury Disaster Loan?

Question: If I already laid off employees, can I qualify for an SBA Economic Injury Disaster Loan? Answer: Yes but your loan forgiveness eligibility will be decreased if you have fewer employees in 2020 than 2019. There are ways to hire back employees, economically, by taking advantage of the act, and doing so will decrease or eliminate the loan forgiveness penalty. We can help you fund the rehiring of employees, through government aid, so you are not penalized. However, in
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If I apply for economic relief under the CARES act, when will I receive my benefits?

Question: If I apply for economic relief under the CARES act, when will I receive my benefits?   Answer: The average amount of time it takes to process an SBA loan is 21 days. After that is an average of three days to get the money direct deposited. However, once you apply, there is $10,000 of economic aid available within 72 hours. If everything the SBA is trying to do goes as planned. This $10,000 is for immediate payroll and
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As the owner of a medical practice, how much can I borrow from the government under the CARES act, and will any of the loan be forgiven?

1. As the owner of a medical practice, how much can I borrow from the government under the CARES act, and will any of the loan be forgiven? Answer: The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, recently passed by Congress, allocates $350 billion to help small business keep workers employed during the COVID-19 pandemic.  The “Paycheck Protection Program”, contained within the act, provides 100% federally guaranteed loans to small business, including medical practices, that are less than 500
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