Many health care providers struggling to get paid after the hack of a UnitedHealth Group subsidiary are still trying to figure out if their cyberattack insurance will help cover their losses. Why it matters: Providers ranging from large health systems to small independent practices are racking up big bills and say efforts to advance payments while Change Healthcare restores medical…
This story was originally published by Grist. Sign up for Grist’s weekly newsletter here. The nation’s insurance industry has gone haywire in recent years amid a succession of floods, fires, and other climate-fueled disasters. These catastrophes have forced carriers to pay out billions in claims, and many have responded by raising premiums in disaster-prone states like Florida…
Prosecutors in Ho Chi Minh City, Vietnam, have sought capital punishment for businesswoman Truong My Lan, chairwoman of real estate developer Van Thinh Phat, accused of the largest financial fraud in the history of Vietnam and Southeast Asia, local media reported Monday. In turn, the sum exceeds 4.8% of Vietnam's GDP in 2023.. Between 2012 and 2022, Lan and her…
The Federal Reserve may revise down its forecast to just two interest rate cuts this year after inflation stayed elevated in January and February.
But semiannual testimony to lawmakers reveals how little U.S. senators and representatives know about the Federal Reserve and monetary policy.
Former cryptocurrency billionaire Sam Bankman-Fried is facing between 40 and 50 years in prison for his role in the collapse of the FTX brokerage he co-founded, prosecutors have requested. He was convicted of fraud and conspiracy in the US in the case that prosecutors claim was "the biggest fraud of the decade", involving more than 1 million victims and losses of…
Apple agreed Friday to pay US $490 million to settle a U.S. lawsuit in which a group of investors accused top executive Tim Cook of fraud for concealing a drop in iPhone demand in China.. The preliminary agreement to close the class-action lawsuit, in which the tech giant has denied any liability, was delivered Friday in an Oakland federal court and is due to receive…
The Office of the Comptroller of the Currency fined JPMorgan Chase $250 million Thursday, and the Federal Reserve added a $98.2 million penalty, asserting the bank failed to adequately monitor client trading activities for market misconduct between 2014 and 2023.. JPMorgan“ operated with gaps in trading venue coverage and without adequate data controls,”…
People walk past a mural by artist M. Tony Peralta picturing a healthcare worker at New York Presbyterian Hospital on March 22, 2021. Some kinds of care could go out of network as soon as April 1. [ more › ]
Meanwhile, the CEOs of the top 10 health insurance companies were paid between $13 million and $22 million in total compensation in 2022, including salary, bonuses and other pay, according to a Connecticut Office of Legislative Research report, issued Feb. 5. Joseph Zubretsky, CEO of Molina Healthcare, with only 2.16% of the market, was paid $22,131,256.
Federal regulators' recent approval of anti-obesity drug Wegovy to reduce cardiovascular risks in overweight people opens the door for Medicare to cover the pricey treatment for more people — though takeup is likely to be slow initially. Why it matters: More than 40% of Medicare enrollees have at least one heart condition, meaning the new Wegovy approval could greatly expand…
The Federal Reserve is looking for steady, reliable signs that inflation is simmering down before it cuts interest rates this year. So far, 2024 has not delivered. Data released by the Bureau of Labor Statistics on Tuesday showed prices rose 3.2 percent over last year, slightly outpacing forecasts of 3.1 percent.
And auto insurance inflation remains stubbornly high even as the overall inflation rate continues to gradually fall toward the Federal Reserve's 2% target. "There's a myriad of reasons for it," said Brian O'Connell, insurance analyst for InsuranceQuotes.com. The average cost of full coverage car insurance rose to $2,543 nationwide in 2024, a 26% increase…
NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. At age 65, some couples may need as much as $413,000 to cover health care costs in retirement, according to a January report from the Employee Benefit Research Institute.
Trump has previously urged fellow Republicans not to cut popular government programs such as Social Security and Medicare, in contrast to some others in the party who say the programs are financially unsustainable without an overhaul. CNBC's Joe Kernen asked Trump whether he had changed his outlook on "entitlements" such as Social Security, Medicare and…
Washington, Mar 11- The president of the United States, Joe Biden, suggested Monday that he will increase taxes on the richest people in the country from 8.2% on average that they pay now to 25%, which would raise 400,000 million dollars in ten years, while he pledged that "never" cut social security or' Medicare'. "Even Trump said this morning that cuts in Social Security…
The news: Federal Reserve Chair Jerome Powell anticipatesbig changes to the controversial capital requirements proposal his office issued last July. –The Federal Reserve, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency then extended the comment period from October to January 2024 and promised to perform an impact…
A pandemic-era temporary auto insurance regulation that has returned more than $26 million to Nevada drivers is set to expire later this year. The Nevada Division of Insurance estimated this regulation provided $26.7 million in refunds to more than 195,000 policyholders in Nevada who were improperly charged. The expiration of this regulation may not…
Byline: Michael Sasso Bloomberg News. The wealth of the typical U.S. senior climbed by about $91,000 during the pandemic years as home and stock values soared, new research shows. That was the median increase in net worth between 2019 and 2022 for households headed by someone age 65 or older, according to research from the Federal Reserve Bank of St. Louis, using data…
