Social Security is a valuable program that ensures retirees have some income to rely on in their golden years. Learn: Understanding the Basics of Social Security. Just over one-third of soon-to-be retirees failed and another 18% earned a grade of D on a basic knowledge quiz about Social Security retirement benefits by MassMutual.
Read moreWhat’s the best way to fund your retirement? Well, I wish could answer that, definitively, for you. But, unfortunately, how you…
Rate hikes will be far fewer than the markets currently expect. Currently, with inflation pushing more than 7%, the highest level in decades, it is not surprising to see the market “pricing in” a more aggressive rate-hiking campaign by the Federal Reserve. As shown via the Daily Shot, the markets expect a certainty of 4-rate hikes in 2022.
Even if Baltimore State's Attorney Marilyn J. Mosby isn't guilty of the charges brought against her, she is certainly guilty of making a monumentally bad financial move. The indictment stems from her claim that she experienced "adverse financial consequences" and thus was entitled to withdraw money from her City of Baltimore retirement fund under a…
Per the latest Earnings Preview, the Finance sector's fourth-quarter earnings are expected to grow 8.1% while revenues are estimated to improve 3.2%. However, a still low-rate environment is likely to have weighed on the upside. With the help of the Zacks Stock Screener, we have identified five insurers namely, Everest Re Group RE, American Equity Investment…
DOVER, Del. (Legal Newsline) – Insurance companies don’t have to cover defense costs for Rite Aid against opioid lawsuits by governments seeking economic damages, Delaware’s highest court ruled, rejecting one major source of funding that plaintiffs and defendants alike were counting upon to pay out multibillion-dollar settlements. Reversing a lower court judgment in Rite…
Federal Reserve Bank of New York President John Williams said that given current signs of a very strong labor market, the U.S. central bank is moving closer to a decision to begin gradually raising interest rates. In December, U.S. central bankers forecast that rates would rise three times this year and accelerated the pace of tapering their asset purchases to…
WASHINGTON- President Joe Biden on Friday announced the nominations of three people for the Federal Reserve's Board of Governors, including Sarah Bloom Raskin, a former Fed and Treasury official, for the top regulatory slot and Lisa Cook, who would be the first Black woman to serve on the Fed's board. Biden also nominated Phillip Jefferson, an economist, dean of…
One of the problems that has affected life insurance companies in recent years is the low sales of one of their "star" products: life annuities. This was strongly reflected in 2021, since according to figures from the Financial Market Commission, last year the sector marketed a total of 11,527 of these policies, which meant a 16% drop compared to 2020, which had…
The states experiencing the highest inflation in the country are in the Mountain West: Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah and Wyoming. While the data is only for price trends, the gap highlights the large differences in the U.S. and the difficulties the Federal Reserve faces in controlling inflation. Consumer prices in the U.S. soared last…
Lawrence Rudolph A Pennsylvania dentist and big-game hunter killed his wife during a 2016 African hunting expedition to collect millions in life insurance money, federal authorities claim. Dr. Lawrence P. Rudolph, 67, was taken into custody last month and charged with one count of mail fraud, but federal prosecutors laid out an elaborate scheme claiming Lawrence intentionally…
At the start of a crucial midterm election year, the top political concerns of citizens in the United States are shifting and seem to indicate that Democrats face considerable difficulty in maintaining their control of Congress. A poll by The Associated Press-NORC Public Affairs Research Center reveals that pandemic management, once an issue strongly…
The scariest story I read over the holidays had nothing to do with winter wildfires, the COVID-flu combo or the threat of Russia invading Ukraine. It was Christopher Leonard's superb profile in Politico of Thomas Hoenig, a retired central banker. Mr. Hoenig made a name for himself after the financial crisis of 2008, as one of the top members of the Federal Reserve…
Federal Reserve Chair Jerome H. Powell appears before lawmakers Tuesday morning for a Senate confirmation hearing teeing up his second term as chair, and he's expected to win enough support to secure another four years running the central bank. Just about everything else swirling around the economy is much less certain. Powell's appearance on Capitol Hill…
The Federal Reserve is on track to raise interest rates in March, economists say, as strong wage growth and falling unemployment reduce analysts' focus on monthly job creation. Figures released Friday showed a sharp slowdown in the number of new jobs in December. Stephen Juneau, an economist at Bank of America, said, "Although the payrolls number was a little weaker,…
“I needed the extra income,” said Durham, who is 67.“ Trying to live off of Social Security is just not an option. As costs rise, some seniors have turned to gig driver apps like Uber or Lyft to afford life in Tampa Bay. Florida, home to not one but three Fountains of Youth, has long been a magnet for older adults.
The White House is strongly considering nominating Sarah Bloom Raskin to become the Fed's top banking regulator, and Lisa Cook and Philip Jefferson as Fed governors, according to people familiar with the decision-making progress. The nominees would complete Biden's roster to the Fed's seven-seat board, while appealing to Democrats who have pushed for…
Massive Wave of Boomer Retirement Underway The first chart highlights the current wave of boomer retirements. Covid and a soaring stock market is goosing the trend. Population Totals Age Group Percentages …
Image Source: Zacks Investment Research. Banking on strong fundamentals and benefiting from favorable macro backdrop, First American Financial Corporation FAF, Fidelity National Financial Inc. FNF, American Equity Investment Life Holding Company AEL, Brown and Brown Inc. BRO and Aflac Incorporated AFL have not only outperformed the industry and the…
adamkaz / E+ / Getty Images CC The start of a new year is a good time to review your financial picture and make adjustments to reflect life changes, whether it's a new job, a salary increase, or some other monetary reality. It's also important to check in on planning and saving for retirement. As you embark on 2022, take some time…
U.S. financial markets have been pretty smooth sailing for investors this year, with the Federal Reserve’ s easy-money policies helping to iron out rough patches during the pandemic. In the final weeks of December, the S&P 500 index SPX, +0.62% was up about 20% on the year, while U.S.“ junk bond” yields with speculative-grade JNK, +0.30% ratings were near historic lows…
-As we continue to navigate the economic impact of the pandemic, a Prudential Financial survey* finds more than half of Americans have made a significant change in their lives in the past 18 months, and three-quarters are considering life changes in the future; changes that include switching jobs, taking time off from work and retirement. According to Brad Hearn,…
A dozen people from New Jersey and Pennsylvania are charged in connection with a multimillion-dollar insurance scheme that centered around a Phillipsburg- area truck stop. Hundreds of vehicles from 170 trucking companies claimed to garage at Phillipsburg& Easton Heavy Duty Truck Repair lot on Route 22 to pay lower insurance premiums while they actually…
Global investment bank Goldman Sachs projects that the pursuit of value-based care could potentially bring significant payoff for big insurers in 2022. For the next two years, analysts Nathan Rich and Lindsay Golub estimate a potential 13% annual earnings per share growth for large-cap managed care organizations, more than double the firm’s 6% projection for S&P EPS growth, according to a recent report.
If one of your 2022 resolutions (more on those next week) is to focus on your physical health, your financially healthy choices may help. Health Savings Accounts (available to those participating in an H.S.A Qualified High Deductible health insurance plan) can be used today, in 5 months, or during retirement to pay for medical expenses.… The post 5 Surprising Items You Can…
WASHINGTON— President Biden’ s roughly $2 trillion social spending and climate change bill appeared doomed after Senator Joe Manchin said Sunday he could not support it, blindsiding the White House, enraging progressive lawmakers, and seemingly leaving key Democratic priorities to wither on the vine. The announcement, which the White House and progressives…
Data from the National Federation of Private Pension and Life show that the collection of premiums by insurers in the segment was R$ 8 billion from January to September, 29% above the same period in 2020.. "There was also growth, but smaller," reinforces Nelson Emiliano Costa, of FenaPrevi. Data from FenaPrevi show an increase of 77.5% in the value of claims from…
As Washington Democrats seek ways to pay for massive current and future government spending, they continue to rely on the false promise of not increasing taxes on ordinary Americans. The supposed targets are always billionaires, Wall Street, or more broadly,“ the rich.” Recent proposals from progressive politicians use the generic term“ wealth tax” to drive their…
Yesterday, a day before Banxico makes its last monetary policy announcement of the year, most members of the Federal Open Market Committee of the US Federal Reserve said they are prepared to raise the benchmark interest rate, currently in the range of 0 to 0.25 percent, at least three times next year to control high inflation. In Mexico, analysts estimated that…
Instead, a large number of beneficiaries are sliding into medical debt and delaying needed health care due to financial holes in the system, according to findings published online Dec. 10 in JAMA Health Forum. "People sort of imagine the Medicare population is well taken care of in this regard, in terms of being able to access care," said lead researcher Jeanne…
The Federal Reserve made its strongest move yet signaling a pivot toward tackling inflation on Wednesday, moving up the timeline for what policymakers project could be three interest rate hikes next year. The change in policy, including a faster timeline for when the Fed will end its vast asset purchase program, marks a significant shift in how the Fed is…
PRESIDENT JOE BIDEN'S "Build Back Better" bill was just passed by the House of Representatives and is now on its way to the Senate, where it will likely be negotiated and revised. For joint filers, the extra tax would equal 5% of modified AGI from $10 million to $25 million and would jump to 8% of modified AGI above $25 million. 3.3. 8% surtax expanded to cover net…
Attorneys in the Boy Scouts of America bankruptcy case have reached a tentative settlement under which one of the organization’ s largest insurers would contribute $800 million into a fund for victims of child sexual abuse. The settlement comes as more than 82,000 sexual abuse claimants face a Dec. 28 deadline to vote on a previously announced Boy Scouts…
Natural disasters in 2021 caused global losses covered by insurance of 105 billion dollars, the fourth highest figure in the last half century, the Swiss multinational reinsurer Swiss Re said today in a report. Hurricane Ida, which caused flooding in New York and other areas of the U.S., was the natural disaster that caused more insured losses according to the…
Employer health insurance costs spiked in 2021, and it remains unclear if this is a one-off course correction or the beginning of a new trend, according to a new Mercer survey.
But it was not until June, when her job as a policy director for a Dallas nonprofit organization was eliminated— leaving her with insurance premiums she no longer could pay— that Robinson discovered a gap she had never known existed. In Texas, even that scanty income is too much for adults to qualify for Medicaid. It would create a path to health coverage for her and…
Buying insurance for small-scale farms just got easier under a new Micro Farm policy developed by USDA to simplify record keeping and to cover post-production costs such as washing and value-added products. Micro Farm is available for the 2022 crop year. Eligibility. Micro Farm is available to producers who have a farm operation that earns an average…
A new study from the Urban Institute found nearly 13 million people had problems before the pandemic getting access to prescription drugs as Congress considers major reforms.
Living as an expat, you need to have coverage for medical expenses. This is one of those things that you cannot always go back to your home country to seek medical care. Being prepared is half the battle. Choosing the best country to live in with excellent expat health insurance is what you should look for. As an American Expat, I have searched many different places to figure out…
Start with those who would have the Federal Reserve immediately slam down on the economic brakes. Similarly, those who blame inflation on the economic rescue package President Biden and the Democrats pushed through in March choose to ignore how much that package did to improve the standard of living of so many Americans, especially the least advantaged.
On November 22, President Joe Biden announced that he will confirm Jerome Powell as chairman of the Federal Reserve when his current term expires next February. The central banker was deservedly praised for leading a powerful response to last year's pandemic-induced slowdown in the U.S. economy. Instead of opting to raise interest rates, Powell has pledged to…
WASHINGTON – Reimbursements for at-home rapid COVID-19 tests. Tougher testing requirements for international travelers. More emergency response teams to aid states combating infection spikes. And another big push to get Americans…
According to the lawsuit, which was filed in Cedar Rapids, employees who invested in Transamerica's retirement plan lost between $15 million and $20 million because some funds performed worse than comparable ones that employees couldn't choose in the plan. Attorney Charles Field, who represented the employees, said "the settlement provides genuine and…
Berkshire Hathaway is the ultimate Warren Buffett stock. But is it a good buy? Here's what the earnings and chart show for Berkshire stock.
The growing impact of sustainability, the need to diversify portfolios into higher-yielding asset classes and the drive to digitize business are the dominant themes for insurers over the next year globally, according to a recent BlackRock survey of industry leaders. In total, the participating companies represent investment-grade assets worth $27…
This is the result of the median projections of the eight consulting firms and research centers that participated in El Cronista's Macroeconomic Expectations Survey, which submitted their responses between November 15 and 23, with the results of the elections already on the table. By then, 17 of the previous 18 months will have surpassed the 3 percent mark and…
Insurance issues in the cannabis space are multiplying daily as operations continue to expand across United States markets. Cannabis companies face the risk of operational losses as a result of fires, burglary, business interruptions, and myriad other events. Cannabis companies also pay hefty premiums on insurance policies to cover those very losses. Many companies discover,…
Child-free U.S. adults are increasingly likely to say parenthood isn’ t in the cards for them, a new report says. The report analyzed responses from 3,866 U.S. adults under 50, both parents and non-parents, who took part in Pew’ s American Trends Panel survey. Birth rates in the U.S. have steadily declined since the 2008 recession, and the birth rate in 2020 hit another…
Kentucky and Mississippi are the latest states to pass rules governing the recommendation of annuities, becoming the 17 th and 18 th states, respectively, to adopt rules based on the National Association of Insurance Commissioners’ model rule meant to align states’ annuity regulations with the Securities and Exchange Commission’ s Regulation Best Interest.
The House passed a massive roughly $2 trillion infrastructure bill that includes drug price reforms, closes the Medicaid coverage gap and cuts DSH payments to hospitals in states that did not expand Medicaid.
-If you’ re a millennial, the chances you’ ve already invested in a private life insurance policy are probably pretty low. The share of Americans covered by life insurance slid from 63% in 2011 to 52% in 2021— and the most pronounced decrease has come from younger generations. It makes sense— you’ re young and healthy, and extra money goes towards the latest iPhone, smart…
Washington, Nov 17- U.S. President Joe Biden on Wednesday defended his "Build Back Better" project, a social spending plan to fight climate change and job creation, among other measures, and urged the country's big companies to "pay a little" in taxes. Biden, who participated today in the official opening of Factory Zero, the new General Motors plant in Detroit that will…
—An insurance company is suing the mother of two boys killed by her estranged husband over a $4 million life insurance payout which claims she may not have been legally entitled to receive. Meanwhile, she is trying to collect $10 million from her husband’ s estate. Paul Reinhart, 46, of Gainesville, fatally shot the couple’ s young sons on May 4 before setting fire to…
EAST ST. LOUIS — A man who became disabled after a motorcycle crash is suing his insurer for allegedly denying of his disability benefits coverage. Terry Roundcount filed a complaint Nov. 12 in the U.S. District Court for the Southern District of Illinois against Lincoln National Life Insurance Company, alleging violation of the Employee Retirement Income Security Act (ERISA).
New legislation would make permanent key telehealth flexibilities and let Medicare cover newly approved medical devices faster.
The technological advances of today can be seen in every aspect of our lives. From cell phones, which are as good as laptops, to medical programs that can connect every location, allowing you the ability to check on the history of one patient. The automotive…
Leaving behavioral health conditions untreated can balloon healthcare costs, according to new data from Cigna.
(The Center Square) – Louisiana Insurance Commissioner Jim Donelon has forced two “financially troubled” homeowners insurance companies into receivership over unpaid policyholder claims stemming from Hurricane Ida.
Auto insurance rates have increased in Louisiana this year despite
Beth Smith dreads the day when her wheelchair finally gives out. And her insurance plan caps its coverage for wheelchairs and other "durable medical equipment" at $2,000 a year, she said— far less than the $17,000 cost of her motorized chair. The federal class-action suit targets the biggest commercial health insurer in California— Kaiser Foundation Health Plan—…
