Some Republicans say changes to entitlement programs, like upping the retirement age to prolong the initiatives, should be "on the table." The big picture: Entitlement reform is a politically potent topic — and it's one that could be a key part of presidential candidates' messaging ahead of 2024.Medicare is one of the largest line items in the U.S. budget, and as the population…
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Two Republican lawmakers have suggested that the age at which people retire should be increased. This statement follows ongoing declarations from GOP members that they will not make any changes to Social Security, after President Joe Biden criticized them in his 2023 State of the Union address for their previous attempts to cut the social program. Losing Benefits Senator John…
The March 8 editorial calling on additional states to expand Medicaid coverage under the Affordable Care Act, "It's time for the GOP to end this anti-Obamacare crusade," ignored several elephants in the room, which neither expanded Medicaid nor Obamacare will solve. We spend $600 billion a year on unnecessary administrative costs— money that would be better…
Chiquita Brooks-Lasure, Head of the Centers for Medicare and Medicaid Services and President Joe Biden. “What the president is outlining in his budget is calling on Congress to make a couple of key changes to extend the life of the Medicare program for future generations,” said Chiquita Brooks-Lasure, Head of the Centers for Medicare and Medicaid Services.
A lack of affordable, accessible health care was notably left out of the conversation by Gov. Ivey.
Around 7 million people are likely at risk of being kicked off Medicaid due the end of pandemic-era benefits, according to early estimates from federal officials. (Getty Images) Courtney Blake and her 10-year-old daughter live on their own in Ypsilanti, Michigan. Both of them struggle with chronic mental health issues and have been using Medicaid to help pay for their behavioral…
The Louisiana Supreme Court suspended indefinitely the law license of the attorney who manages McClenny Moseley& Associates' office in New Orleans— the latest setback for a law firm that paid nearly $14 million for client leads and filed more than 1,600 lawsuits over the course of three days. The high court on Friday approved an interim suspension of the law…
According to the National Oceanic and Atmospheric Administration, in 2022 there were 18 weather/climate disaster events with losses exceeding $1 billion each to affect the United States. As I read reports of the historic damage caused by the hurricane, I came across this photo in an article in The Insurance Journal. Photo credit: A graphic by Michel Bruneau,…
Earlier this week, American Family Insurance report a 2022 net underwriting loss of $1.5 billion in its property/casualty lines, up from an underwriting loss of $460 million in 2021.. In total, American Family responded to $2.8 billion in catastrophe claims, including spring storms in the Midwest, Hurricane Ian in Florida and other states in September and…
After a weekend of speculation and anxiety following the collapse of Silicon Valley Bank, federal banking regulators on Sunday night determined that FDIC insurance funds will be used to protect Silicon Valley Bank depositors from losing their money.Plus, China gets a major diplomatic win.And, atmospheric rivers bring more rain, snow and flooding to California.Guests: Axios' Neil…
Silicon Valley Bank was the biggest U.S. lender to fail since the 2008 global financial crisis – and the second-biggest ever. (Getty Images) Silicon Valley Bank, which catered to the tech industry for three decades, collapsed on March 10, 2023, after the Santa Clara, California-based lender suffered from an old-fashioned bank run. State regulators seized the bank and made the…
Metaphorically, that's what happened at Silicon Valley Bank, which collapsed Friday morning just two days after first revealing its struggles. "You shouldn't be worried at all; you're going to be made whole" if you have less than $250,000 in your bank account, said Jay Ritter, professor of finance at the University of Florida. "This is nothing like 2007, when the core…
In December, a federal judge blocked New York Mayor Eric Adams's plan to allow police to involuntarily hospitalize unhoused people with mental illness. Adams argues that overly strict interpretations of New York's Mental Hygiene Law have left police, city workers and clinicians unsure if they are able to involuntarily hospitalize individuals with severe…
NEW YORK— The financial institution best known for its relationships with high-flying world technology startups and venture capital, Silicon Valley Bank, experienced one of the oldest problems in banking— a bank run— which led to its failure on Friday. Here's what to know about why the bank failed, who was affected most, and what to know about how it may, and may not…
A hacker who uses the pseudonym "Denfur" is selling a database they claim includes stolen sensitive data from at least 55,000 customers of D.C.'s health insurance marketplace, including members of Congress and their staffs.Driving the news: Congressional leaders started warning lawmakers on Wednesday about the breach at DC Health Link and suggested they freeze their credit while an…
Alyssa Maness is one of the affected patients. The 32- year-old told NBC News that in December 2021 she was diagnosed with POTS, a nervous system disorder that her doctors believe was caused by COVID-19. Following the diagnosis, in early 2022 doctors began running labs on her, but the patient reported that when she sent the test to her insurance, Anthem Blue Cross,…
NEW YORK— Stocks stumbled on Wall Street Thursday and added to the week's losses as markets remain anxious about the prospect of more aggressive action by the Federal Reserve to fight inflation. SVB Financial Group lost 60% of its value after announcing plans to raise up to $1.75 billion in order to strengthen its position amid concerns about higher interest…
The data released this morning by INEGI is slightly below market expectations and is its best level since March 2022. As for the non-core component, which reflects less volatility, it benefited from a 3.02% decline in the prices of fruits and vegetables, which is its largest drop in the average observed for February in the previous 10 years, according to data from…
WASHINGTON, Mar 10- U.S. job growth probably slowed in February but would still maintain a still solid pace, with the unemployment rate expected to remain at its lowest level in five decades, which could prompt the Federal Reserve to raise interest rates longer and higher to control inflation. The Labor Department's employment data, Friday's focus, is also…
