Americans with student loan payments contribute at a lower rate and have smaller overall balances in their 401 accounts than those earning the same without student loan debt, a report from the Employee Benefit Research Institute study said. The savings disparity is most pronounced among those who earn $55,000 or more a year. Americans earning less than…
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,”…
A week ahead of the March meeting of the US Federal Reserve, at which the body will update its macroeconomic forecast and forward guidance on interest rates, the release of February's US inflation data has delivered an unpleasant surprise to the Fed, and threatens to delay the start of the US rate cut expected in June. Monday's CPI reading and Thursday's producer…
EDITOR'S NOTE: This story was originally published by the Arizona Center for Investigative Reporting. In the 10 months since Arizona officials announced an investigation into massive Medicaid billing fraud, they've maintained the abuse was mostly limited to a small share of the Arizona Health Care Cost Containment System: behavioral health providers…
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 › ]
Hajar Tyler, 14, gets a routine blood transfusion at Children’s Healthcare of Atlanta in March. Hajar has sickle cell disease, a rare hereditary blood disorder for which the FDA recently approved two gene therapy treatments. The Centers for Medicare & Medicaid Services has launched a pilot program to help state Medicaid agencies pay for these expensive treatments. Courtesy of…
Two Colorado Farmers must pay more than $6.5 Million for defrauding federal crop insurance programs, according to U.S. Attorney Cole Finegan. Finegan's office announced that Patrick Esch and Ed Dean Jagers of Springfield, Colorado, agreed to pay the sum to resolve allegations that they defrauded federal crop insurance programs by tampering with rain gauges.
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.
You are not alone, California is in the grip of a home insurance crisis, with insurers abandoning the state’ s market at an alarming rate. Daily headlines announce the withdrawal of major insurance companies from California, leaving homeowners scrambling for coverage. The answer lies in the state’ s extreme losses, particularly stemming from the severe…
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.
Modern vehicles have abilities we never would have thought possible a few decades ago, including sharing owners' driving habits with insurance companies. A new report has uncovered how connected cars with built-in telematics share driver statistics and data with insurers, often without the owners even realizing it.Connected vehicles are becoming an increasingly common sight in the…
Biden seeks to cut costs for seniors. Legal challenge to future of Medicare negotiations. TRENTON, N.J.- Pharmaceutical giants are mounting a vigorous legal battle against President Biden's plan to lower seniors' prescription drug costs, urging federal judges here and around the country to invalidate a new program that aims to reduce the price of medications…
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…
United States, Kenneth and Thomas Meador, are suing the government in U.S. District Court in Boston. The plaintiffs’ attorney, Eugenie S. Reich of Boston, said the lesson for practitioners is not to claim medical expenses in a personal injury case when those expenses have already been paid by Medicare Advantage or Medicare. “Let the insurance plan bring its own…
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…