As inflation cools down, the odds are heating up that Social Security benefits won't rise as dramatically next year as they did in 2023.. This year's COLA amounted to an 8.7% bump for Social Security benefits, as well as Supplemental Security Income benefits– the biggest increase since 1981 when the inflation adjustment was 11.2%. "We are returning to reality,"…
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John Paul Dillon, of Franklin, pleaded guilty to bank fraud, wire fraud and money laundering connected to his submission of fraudulent Paycheck Protection Program and the Economic Injury Disaster Loan applications, the Federal Deposit Insurance Corp.' s Office of the Inspector General said Thursday. Now, Dillon must forfeit his residence, two new automobiles…
LAHAINA, Hawaii— President Joe Biden on Monday told survivors of Hawaii's wildfires that the nation "grieves with you" and promised that the federal government will help Maui "for as long as it takes" to recover after touring damage caused by the deadliest wildfire in the United States in more than a century. Biden arrived in Maui 13 days after the wildfires that…
New York Supreme Court Judge Lyle Frank officially blocked the city of New York from removing its roughly 250,000 municipal retirees off their current healthcare plan and onto Aetna' s privatized Medicare Advantage, which the Adams administration inked a deal on this past March. On Aug. 11, he explicitly ordered "that the respondents are permanently enjoined…
"Our updated estimates suggest that households held less than $190 billion of aggregate excess savings by June," the analysis, published by San Francisco Fed researchers Hamza Abdelrahman and Luiz Oliveira, said. That is cause for concern as the Federal Reserve credited the savings buildup with keeping the economy rolling, despite dual headwinds from high…
Aug. 20— Tropical Storm Hilary swamped roads and downed trees in Southern California on Sunday as emergency officials warned that the first tropical storm to strike the region in 84 years would continue to spur mudslides, flash floods and high winds with the potential for catastrophic damage overnight. Downgraded from a hurricane but still expected to bring…
The average rate exceeded 7% in the country, reaching the highest level since April 2002. The average fixed interest rate on new 30- year mortgages stood at 7.09% last week, compared to 6.96% the week before, according to data from the Federal Home Loan Mortgage Corporation, quoted by Bloomberg. The trend is related to the US Federal Reserve's strategy of…
Freddie Mac rates climbed past the 7% mark, landing at 7.09% Thursday. In January, the Federal Reserve Bank of Philadelphia published a study on owner-occupancy fraud and mortgage performance. The study of mortgages from 2005 through 2017 by Fannie Mae and Freddie Mac of bank portfolios and private securitized mortgages found that one-third of investors…
Photo illustration by Getty ImagesThe list prices of the 25 medications that Medicare spends the most money on have more than tripled on average since they went on the market, according to a new analysis by a national advocacy group for older Americans. AARP, which conducted the analysis, says the findings reinforce the importance of federal legislation enacted one year ago to put…
A tropical storm building off of Mexico's west coast was upgraded to hurricane strength on Thursday, Aug. 17, bringing with it the potential for unusually strong winds and something even more unusual— August rainfall— over Southern California this weekend and into next week. Hurricane Hilary was expected to upgrade to category 4 by the weekend, impacting the…
The Federal Open Market Committee of the U.S. Federal Reserve forecasts further interest rate hikes and warns of the possibility of a new rise in inflation in the coming months. As we have reported in Libre Mercado, the European Central Bank has made the same pronouncement in recent weeks, warning about the deterioration of economic growth in the Eurozone and…
Freddie Mac rates climbed past the 7% mark, landing at 7.09% on Thursday, Aug. 17. Bad as that is for borrowers, it's looking much worse for those who seek financing for an investment property. In January, the Federal Reserve Bank of Philadelphia published a study on owner-occupancy fraud and mortgage performance.
Laura Humphrey walks a wheelbarrow to a pile of debris while volunteering to clean up in Perry County near Hazard on Aug. 6, 2022. Thousands of Eastern Kentucky residents lost their homes ater devastating rain storms flooded the area. (Photo by Michael Swensen/Getty Images)Few in Eastern Kentucky have flood insurance or have ever been able to afford it. A federal agency’s new…
Federal regulators say these arrangements“ appear designed to” redirect Medicaid dollars away from facilities that treat the poorest patients to those that“ provide fewer, or even no, Medicaid-covered services,” according to a proposed enforcement plan released May 3 by the Centers for Medicare& Medicaid Services. Not even federal regulators know how…
Since January, Florida customers have made more than 7,000 complaints about their property insurance carriers' response to Hurricane Ian claims.
A wet year may have provided a mental reprieve, but Colorado continues to have more homes at risk from wildfires than any state besides California, according to the Wildfire Risk Report from CoreLogic. And within Colorado, metro Denver and Colorado Springs, not communities high up in the mountains, are where the largest property losses are most likely to occur.
Named in the indictment are pharmacist Samer Youssef, 56 of Troy and Indian Rocks Beach, Florida, Daoud Faraj, MD, 52 of Dearborn, and pharmacy technician Houdi Bazzi, 34 of Dearborn and Indian Rocks Beach, Florida. Youssef is the former owner of AMA Pharmaceuticals, LLC, which did business as Somerset Pharmacy in Troy, and is current owner of SMA Patient Care LLC which…
By Molly Castle Work| KFF Health News. Santa Clara Valley Medical Center, along with other units of county-owned Santa Clara Valley Healthcare, will also adopt procedures to ensure patients are informed of their eligibility for charity care, which nonprofit and public hospitals must provide. "This is huge," said Helen Tran, a senior attorney with Western Center on…
One year after President Biden signed the Inflation Reduction Act, the future of the law's signature drug pricing policy — Medicare negotiations — is up in the air. Why it matters: A barrage of lawsuits from drugmakers and allied groups are seeking to overturn provisions enabling Medicare to negotiate drug prices, just as the Biden administration is preparing to announce the…
