The insurance sector has taken advantage of the rise in interest rates to present itself as an alternative to banks in the remuneration of savings. Especially during the first half of the year, when it was somewhat exaggerated, "explains the top executive of one of Spain's largest insurance companies. This type of policy now accounts for almost 90,000 million…
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The Biden administration is aiming to close loopholes that it says allow Medicare Advantage insurers to encourage brokers to steer consumers toward certain plans.Why it matters: Federal officials say their proposal, which comes as lawmakers have raised concerns about broker payments, would help ensure brokers are working in seniors' best interest. It also marks the administration's…
Mike Johnson called for a bipartisan commission to resolve the debt crisis. Here's a look at what this means for Social Security and Medicare.
Here are three of the week's top pieces of financial insight, gathered from around the web: It’s too easy to lose health insurance I jeopardized my family’s health insurance because of a missed email, said Dr. Danielle Ofri in The New York Times. I got stuck on an unwanted plan last year because I had missed the open-enrollment period. How is that possible? Easy. A spam filter…
The Federal Reserve left interest rates unchanged Wednesday while leaving the door open to a future increase, a cautious stance at a time when rapid inflation is retreating but is not yet vanquished. Rates have been on hold in a range of 5.25% to 5.5% since July, up from near zero as recently as March 2022. “The full effects of our tightening have yet to be felt,” Jerome…
The wealth of Spain's great fortunes has soared by 37% this year, to 196.13 billion, despite the war in Ukraine and inflation, according to the Forbes list, headed once again by the founder of Inditex, Amancio Ortega, whose wealth has grown by 53%, to 81.8 billion. The stock market revaluation of Inditex has contributed to this, but also the fact that the valuation of…
California’ s unemployment insurance fund is $20 billion in debt, putting the state in a terrible position in case of a recession. Now the situation is more dire, with the Employment Development Department issuing a spring forecast that the debt— which the Legislative Analyst’ s Office has said does not include the infamous unemployment fraud that mostly…
The number of Americans applying for jobless benefits inched up last week but remains low by historical standards, even with the Federal Reserve's aggressive interest rate hikes meant to cool the economy and taper lingering inflation. Still, the American labor market continues to show resiliency in the midst of the Federal Reserve's effort to get inflation…
Real estate investor Gary Dragul, who pleaded guilty to securities fraud over the summer, has agreed to pay $850,000 to a receiver who accused him of running a Ponzi scheme. Dragul, 61, once had considerable real estate holdings in the area, including downtown’ s Writer Square and the Happy Canyon Shopping Center in southeast Denver, through his company GDA Real…
Georgians looking for health insurance on the Affordable Care Act marketplace exchange can start window shopping now. Open enrollment begins Nov. 1 and runs through January 15. This is an important year for consumers in Georgia and other states.
The United States Federal Reserve will decide on Wednesday whether to raise the benchmark interest rate by 25 basis points or to maintain the current range of between 5.25% and 5.5%, at a time when the US economy is showing signs of overheating, with a very active labor market and inflation still above the target set by the monetary body. The Fed's Federal Open…
7:00am: Futures indicate a bright start on Wall Street US stock futures pointed upwards on Monday ahead of a busy week of earnings, the Federal Reserve’s rate call, plus a raft of data on the data, culminating in the jobs report on Friday. In pre-market trading, futures for the Dow Jones Industrial Average were 0.5% higher, while those for the S&P 500 were up 0.6%, and contracts…
Failure to comply with the Prompt Payment Act and contesting payment claims or administrative orders from the Office of the Commissioner of Insurance are some of the practices that delay payments to health care providers in Puerto Rico. "The adjudicative and judicial process is used by insurers and health services organizations to hinder and delay the…
Americans own more stocks than ever before. During 2022 about 58% of U.S. households owned some stock asset, directly or indirectly, according to figures from the quarterly Survey of Consumer Finances, released by the Federal Reserve. The significant participation of households in the stock market is one of the distinguishing characteristics of the U.S….
The proposal includes ratification and "inflation protection" bonuses, but wouldn't end unpopular pay and benefits tiers.
Noting that Guerrero is among the 17 coastal states that concentrate 48% of losses due to hydro-meteorological risks, insurers said they were ready and with sufficient resources to attend insured goods with damages caused by the meteors Norma and Otis in their passage through Baja California Sur and Sinaloa, affected by the first one; and Guerrero, early…
U.S. household wealth ballooned at a record pace during the pandemic as the government doled out unprecedented aid, Americans hunkered down amid widespread lockdowns and stock and home values soared, according to a Federal Reserve survey. From 2019 to 2022, the median net worth of U.S. families surged 37% to $192,900, adjusted for inflation– the largest rise in…
A 47- year-old Fresno man pleaded guilty Thursday to stealing millions of dollars with his former girlfriend from a Malibu doctor in an elaborate scheme involving deception and psychoactive drugs before his death in 2018.. His ex-girlfriend, Anna Rene Moore, 40, had pleaded guilty in August to seven felony violations in the same case, according to Flores' plea…
Insurance giant Geico said it will lay off about 6% of its total workforce— or about 2,000 employees— as it makes some changes to the business and pushes for a return to the office for remote workers. Reports said an email to staff was received early on Thursday morning from the company's CEO Todd Combs. Geico was expected to fully implement the return to office…
