ReportWire

Tag: health insurance

  • AmeriLife’s “Empowering Voices” Campaign Celebrates National Women’s History Month

    [ad_1]

    Campaign honors women leaders, their achievements, and forward-thinking attributes for the next generation of insurance and financial services industry leaders

    AmeriLife Group, LLC (“AmeriLife”), a national organization that develops, markets, and distributes life and health insurance, annuities, and retirement planning solutions, is celebrating National Women’s History Month through the theme of “Empowering Voices” as it recognizes the remarkable women leaders driving innovation and excellence within its industry. This month-long celebration underscores AmeriLife’s unwavering commitment to fostering a unified workforce that values diverse perspectives, contributions, and leadership.

    One of the key initiatives supporting this mission is the Distribution Women’s Leadership Council (DWLC). Now in its third year, the Council is committed to recruiting, retaining, empowering, and advancing women within AmeriLife’s Distribution business. The DWLC maintains a forum for sharing best practices, fostering mentorship, and providing networking opportunities. These efforts are crucial in leveraging market opportunities and achieving its business objectives.

    “We are thrilled to celebrate the incredible women making a significant impact at AmeriLife,” said Mike Vietri, Chief Distribution Officer for Wealth at AmeriLife and executive champion of the DWLC. “Their leadership and dedication are instrumental in shaping our company’s future. The Distribution Women’s Leadership Council plays a vital role in ensuring that we continue to support and empower women at every level of our organization.”

    The DWLC has been instrumental in developing programs that provide Distribution with the skills and resources they need to succeed.

    • From leadership training to networking events such as its monthly “Sips & Strategies” gatherings and annual conference, the Council is dedicated to creating an environment where individuals can thrive and reach their full potential.

    • Sponsoring attendance at community events such as the Valspar Executive Women’s Day, the ANNIKA Women’s Leadership Summit, and the SharpHeels Career & Leadership Summit is a key extension of its mission, providing invaluable networking opportunities and connections with other professionals beyond the office.

    “We are committed to building a workforce that reflects the diverse communities we serve,” said Kelly Atkinson, AmeriLife’s Senior Vice President, Distribution Operations & Chief of Staff, Wealth Distribution, and founding member of the DWLC. “By empowering women and recognizing their contributions, we are strengthening our company and positively impacting the industry.”

    The Power of Mentorship

    Mentorship is not just a pillar but a driving force at the DWLC, essential for fostering growth, development, and success. Each member is committed to embracing this vital role within their respective positions.

    “As women in finance, we can use our experiences and influence to inspire the next generation and ensure they have access to clear, easy-to-understand education,” said Rayna Reyes, Principal of American Federal.

    “Women leaders today can make a significant impact by mentoring young women and, more importantly, shaping policies to create inclusive work environments,” said Angela Palo, Chief Operating Officer of Pinnacle Financial Services, Inc.

    Ana Hernandez, Managing Director of Grupo Latinamericano de Seguras, agrees, saying,Women leaders can leverage their influence and experiences to inspire the next generation and ensure equitable and empowering education for young women by actively mentoring and sponsoring young females, ultimately creating a visible pathway for future female leaders.” 

    Stephanie Kirk, Chief Executive Officer of Secure Benefits, Inc., added, “Young women need mentors. Someone willing to teach them by inclusion, not just instruction. My philosophy is the best education is to learn by doing.  Being a woman of influence gives me an excellent opportunity to roll up my sleeves and work hard alongside someone trying to get to where I am.   The next generation of women coming behind me will reach even greater heights because I’m giving them a shoulder to stand on!”  

    Learn more about the Distribution Women’s Leadership Council and its lead-by-example philosophy.

    About AmeriLife

    AmeriLife’s strength is its mission: to provide insurance and retirement solutions to help people live longer, healthier lives. AmeriLife develops, markets, and distributes life and health insurance, annuities, and retirement planning solutions to enhance the lives of pre-retirees and retirees across the United States. For over 50 years, AmeriLife has partnered with top insurance carriers to provide value and quality to customers through a national distribution network of over 300,000 agents, financial professionals, and more than 160 marketing organizations and insurance agencies. For more information, visit AmeriLife.com, and follow AmeriLife on Facebook and LinkedIn.

    Contact Information

    Jeff Maldonado
    Media Contact
    media@amerilife.com

    Alex Hyer
    Corporate Development
    corporatedevelopment@amerilife.com

    Source: AmeriLife

    Related Media

    [ad_2]

    Source link

  • Axene Health Partners Unveils In-Depth Analysis of Healthcare Denial Rates: Fact vs. Fiction

    [ad_1]

    Axene Health Partners (AHP) has released a new thought leadership article, “Denial Rates: Fact or Fiction?”, providing a data-driven examination of healthcare claim denials and the myths that often surround them. The article explores industry trends, key factors influencing denial rates, and practical strategies for healthcare stakeholders to improve claims processing and reduce administrative inefficiencies.

    Denial rates have become a hot topic in healthcare finance, with various reports citing conflicting statistics. In this article, AHP Partner David Axene separates fact from fiction, offering valuable insights into how payers, providers, and policymakers can better interpret denial rate data and apply actuarial expertise to enhance decision-making.

    Key Takeaways from the Article:

    • The real impact of denial rates on providers and payers.

    • Common misconceptions that misrepresent the scope of claim denials.

    • How actuarial analysis provides a clearer picture of financial and operational implications.

    • Actionable strategies to optimize claims management and reduce unnecessary denials.

    “Misinterpretations of denial rates can lead to flawed policy decisions and financial miscalculations,” said David Axene, Partner at AHP. “Our goal is to bring clarity to this complex issue, using data and actuarial expertise to help healthcare stakeholders navigate these challenges more effectively.”

    The full article is available here: https://axenehp.com/denial-rates-fact-fiction/

    For media inquiries or to schedule an interview with an AHP expert, please contact:

    Lonnie Campbell
    Director of Communication
    Axene Health Partners
    lonnie.campbell@axenehp.com
    951.325.4315
    www.axenehp.com

    About Axene Health Partners:
    Axene Health Partners is a leading health actuarial consulting firm providing data-driven insights and strategic advisory services to payers, providers, and policymakers. AHP specializes in actuarial analysis, healthcare strategy, and financial modeling to drive informed decision-making in a rapidly evolving industry.

    Contact Information

    Lonnie Campbell
    Marketing Director
    lonnie.campbell@axenehp.com
    951-325-4315

    Source: Axene Health Partners, LLC

    [ad_2]

    Source link

  • Colorado reinsurance estimated to save $493 million on health insurance

    Colorado reinsurance estimated to save $493 million on health insurance

    [ad_1]

    Colorado’s reinsurance program will save people who buy their health insurance on the individual market an estimated $493 million next year, compared to how much premiums would have risen without it, according to the Polis administration.

    Statewide, premiums on the individual market will rise by an average of 5.6%, while they will increase about 7.1% for small-group plans.

    Reinsurance is a backstop that limits how much insurance companies have to pay out for the relatively small number of people who have highly expensive medical needs each year. Since they aren’t on the hook to pay out as much, the companies charge lower premiums, which in turn means the federal government doesn’t have to spend as much on tax credits to people buying insurance on the marketplace. Colorado got permission from the federal government to use those federal savings to further lower monthly premiums.

    [ad_2]

    Meg Wingerter

    Source link

  • Question 3: Should ride-hailing drivers be allowed to unionize?

    Question 3: Should ride-hailing drivers be allowed to unionize?

    [ad_1]

    BOSTON — Voters in November will get a chance to resolve a fight over unionizing Uber and Lyft workers with a proposal that calls for reshaping the employment status of ride-hailing drivers who work now as independent contractors.

    Question 3, which appears on the Nov. 5 ballot, would authorize ride-hailing drivers to form unions to collectively bargain with so-called transportation network companies for better wages, benefits, and improved terms and conditions of work.

    A yes vote would create an exemption to the state’s collective bargaining laws and set up a system allowing drivers unionize. A no vote would keep the status quo, where ride-hailing drivers are considered independent contractors with a limited wage and benefit guarantees.

    Backers of the measure say while pay and benefits for the job have increased under a settlement in June with the Attorney General’s Office – including a guaranteed $32.50 minimum wage and other new driver benefits, such as earned sick pay – they want the security of unionization.

    “We help our neighbors get to work and school and bring them home to their families, and we deserve the pay and treatment on the job that will let us support our families and keep a roof over our heads,” Betania Gonell, an Uber and Lyft driver from North Andover, said at a rally at the Statehouse last month.

    “We want a union to help us negotiate for better pay, working conditions and job protections, just like nurses, bus drivers and millions of other workers in Massachusetts.”

    Over the past year, supporters of the measure collected tens of thousands of signatures to put the question before voters in November and survived a legal challenge seeking to strike it from the ballot.

    Among those backing the changes are the Service Employees International Union Local 32BJ and International Association of Machinists, which formed a coalition with progressive and social justice groups earlier this year to push for its approval.

    The outcome of the ballot question could have far-reaching impacts. Massachusetts has seen the number of ride-hailing trips rise from 39.7 million in 2021 to 60.6 million in 2022 – a more than 52% increase, according to state data. There are more than 200,000 approved ride-hailing drivers in the state, but it is not clear if all of them are now working.

    Like most states, Massachusetts has wrestled for years with the issue of how to classify ride hailing drivers. Uber, Lyft and other companies have long argued that their drivers prefer the flexibility of working as independent contractors, not employees. They have cited surveys of drivers saying they prefer contractual work.

    In June, Uber and Lyft dropped plans for a separate ballot question to classify their drivers’ employment status after reaching a deal with the state Attorney General’s Office to boost wages and benefits. The companies also agreed to pay $175 million to the state to resolve the AG’s allegations that they violated the state’s wage and hour laws.

    The agreement requires the companies to pay drivers a minimum wage of $32.50 per hour. Drivers also receive expanded benefits, including paid sick leave and a stipend to buy into the Massachusetts paid family and medical leave program.

    The settlement stems from a lawsuit originally filed in July 2020 by then-Attorney General Maura Healey, who is now the state’s governor.

    But drivers who support Question 3 argue that the proposal would provide more job security and the ability to bargain collectively for better pay and benefits in the future.

    While there is no organized opposition to Question 3, critics argue the move could lead to higher prices for Uber and Lyft rides if the companies pass along the added labor costs to consumers.

    That includes the state’s Republican Party, which says approval of the referendum “threatens the flexibility and affordability” that make ride-hailing services so popular for drivers and those who use the services.

    “It would also set an unfairly low threshold for unionization votes, potentially violating federal labor laws,” MassGOP Chairwoman Amy Carnevale said in a recent statement. “With Massachusetts already being one of the most expensive states to live and do business in, adding more red tape and higher costs is the wrong approach.”

    The conservative Massachusetts Fiscal Alliance, which also opposes Question 3, argues that its approval would not improve the situation for most ride-haling drivers because they will “have no control over leadership of the union and will pay significant dues without real representation.”

    Recent polls have shown a slim majority of voters support approval of Question 3, one of five questions before voters in the November elections.

    A report by Tufts University’s Center for State Policy Analysis found that Question 3, if approved, will likely face significant legal challenges, but it could give workers new power to bargain for better wages and benefits.

    Christian M. Wade covers the Massachusetts Statehouse for North of Boston Media Group’s newspapers and websites. Email him at cwade@cnhinews.com.

    [ad_2]

    By Christian M. Wade | Statehouse Reporter

    Source link

  • ful. CashPay: Revolutionizing Healthcare Access for Employers With Uninsured Team Members

    ful. CashPay: Revolutionizing Healthcare Access for Employers With Uninsured Team Members

    [ad_1]

    ful. Health’s New App Harnesses Innovation, Data and Technology to Deliver Affordable, Easy-to-Use Healthcare Solutions for Part-Time Workers

    ful. Health is excited to announce the launch of ful. CashPay, a groundbreaking healthcare solution specifically designed for part-time employees, gig workers, association members, and the uninsured. As a non-insurance alternative, ful. CashPay empowers employers and organizations to provide essential healthcare benefits, helping their uninsured workers access convenient care and achieve significant savings. 

    This solution is particularly critical for the 42% of the U.S. population living below the ALICE (Asset Limited, Income Constrained, Employed) threshold. These individuals often work but struggle to afford basic necessities, including healthcare. ful. CashPay provides an affordable way to address the healthcare gap, ensuring that part-time and uninsured workers can receive care without financial strain. 

    Healthcare access helps employers create a more stable, productive, and loyal workforce while controlling costs and maintaining a competitive edge in the job market. Brokers, captives, and TPAs now have a powerful tool to help clients support and retain their part-time workforce. 

    With ful. CashPay, organizations can offer uninsured team members a clear, actionable healthcare solution. ful. CashPay features bundled cash pricing for complete episodes of care, eliminating surprise billing. It provides unlimited, no-cost virtual care for employees and their families, including dependents up to age 26 — and more, all for about $6 per part-time employee per month. 

    “At ful. Health, we are committed to giving people the freedom to make their best personal choices for care,” said Dr. Bernie Saks, founder and CEO of ful. Health. “ful. CashPay simplifies access to quality care by combining smart shopping tools and education, creating a comprehensive resource for healthcare savings.” 

    ful. CashPay offers more than just benefits — it creates a cash-pay healthcare ecosystem, leveraging partnerships with industry leaders to provide part-time uninsured employees with: 

    • Free, unlimited virtual care: Powered by CirrusMD, employees can connect within 60 seconds with licensed physicians at no additional cost. 
    • Cash pricing marketplace: Through Tendo, users can access actionable cash prices for complete episodes of care, eliminating billing surprises. 
    • Interactive healthcare education: Quizzify’s engaging quizzes and tools help users make informed healthcare decisions and avoid costly ER visits. 
    • Local Cash Discount Pharmacy: MedOne provides in-app search for local pharmacy cash discount pricing and digital pharmacy discount cards.  

    “Tendo is excited to partner with ful. Health. They have carefully architected a member experience that focuses on ease of access, education, and simplification. Together we are helping employers with dynamic workforces solve for the healthcare needs of their members by making care shoppable with affordability and convenience baked in,” said Ben Maisano, SVP Head of Strategy for Tendo. 

    ful. CashPay doesn’t just provide access to care — it equips users to navigate the system with confidence. With Quizzify’s Doctor Visit PrepKits addressing 200+ healthcare scenarios, users can prepare for their virtual or in-person visits to ensure the greatest value. Through Goodbill, users can also save money on hospital bills through discounts, expert bill reviews, and negotiation support. 

    ful. Health’s commitment to healthcare innovation is transforming how U.S. employers support their uninsured and underinsured team members by providing a comprehensive, tech-driven solution that simplifies access to care and lowers healthcare costs. ful. CashPay’s ecosystem of tools empowers users to make informed decisions, control healthcare spending, and improve their overall health and financial well-being.

    To learn more about how ful. CashPay can enhance an organization’s benefits offerings and improve employee retention, visit ful-health.com

    About ful. Health 

    ful. Health is a leader in healthcare navigation solutions, empowering individuals to make smarter, more informed decisions about their healthcare. Through cutting-edge technology, data-driven insights, and personalized guidance, ful. Health provides easy-to-use platforms that simplify healthcare choices for both the insured and uninsured. The company plans a new release update in the fourth quarter of this year to add Transparency in Coverage alongside cash pricing and savings tools to their apps for insured plan members. Learn more at ful-health.com

    Source: ful. Health

    Related Media

    [ad_2]

    Source link

  • Why is the cost of hearing aids so expensive in Canada? – MoneySense

    Why is the cost of hearing aids so expensive in Canada? – MoneySense

    [ad_1]

    Pretty cool, right? But these advanced hearing aids are not cheap. They’re essentially driven by “mini computers,” and there are costs associated with customization, distribution and professional services, says Glista. 

    At Hotel Dieu Shaver, the independent Niagara Region clinic where I went, non-AI hearing aids range from $3,551 (Phonak L50-R model) to $5,561 (Phonak L90-R model) after the $1,000 Ontario discount has been applied. In contrast, prices for Starkey AI hearing aids range from around $5,000 for the mid-level model (Genesis AI 16) to $7,000 for the highest tech level (Genesis AI 24), again with the $1,000 Ontario discount applied.  

    Yet another high-cost contributor is that, unlike over-the-counter aids that you purchase directly from the manufacturer, today’s digital hearing aids provided through an audiologist are often tweaked through a computer. 

    Using hearing-aid fitting software, an audiologist can select, program and fine-tune the hearing aids. “This includes programming related to sound level and frequency-specific adjustments, based on the person’s hearing loss,” says Glista. “Programming customization also includes other measurements such as real-ear measures to capture how large the person’s ear canal is and ensure that the hearing aids deliver the correct amount of amplification at the eardrum.”

    When you visit a hearing clinic, ask for a detailed breakdown of costs associated with different treatment options, payment options including insurance and government assistance, and follow-up and support services offered. Some hearing health-care providers bundle follow-up maintenance of the hearing aids into their pricing, says Glista. They may also spend time helping patients to develop a listening strategy they can use at work, at home and while participating in hobbies.  

    How much does a hearing test cost?

    Before you get a pair of hearing aids, you’ll want to get your hearing tested at a clinic, which is also where you’ll buy and be fitted for your hearing aids. Some hearing clinics offer hearing tests for free, while others charge about $100. 

    Do insurance and government benefits cover hearing aids?

    Financial support for hearing aids may be available in your province or territory, as part of a broader program for assistive devices and disability supports. For instance, Ontario’s Assistive Devices Program (ADP) pays up to $500 per ear toward the purchase of new hearing aids, for approved applications. (You’ll have to pay for the hearing assessment or find a free one, though—the ADP doesn’t cover that cost.) To qualify, you must be an Ontario resident, have a valid health card, and need the hearing aids for at least six months. Income isn’t a consideration for the ADP.

    So, if you’re an Ontario resident and you buy a $5,000 pair of hearing aids, the audiologist will deduct the $1,000 paid for by the ADP, bringing your cost to $4,000. (There’s no sales tax on hearing aids.) If you’re in a 20% marginal income tax bracket, after claiming the balance you paid as a medical expense at tax time, your end cost is reduced to $3,200. Note, however, that for the 2024 tax year, you can only claim eligible medical expenses minus 3% of your net income or $2,759 (whichever is less)—so, some or all of your medical expenses save no tax. (Learn more about claiming medical expenses.)

    [ad_2]

    Mark Douglas Wessel

    Source link

  • Why are vets so expensive? – MoneySense

    Why are vets so expensive? – MoneySense

    [ad_1]

    The joys of these animal companions, however, don’t come cheap: pet care costs have increased 6% to 8% annually over the past few years. On average, dog owners spend between $965 and $4,020 per year on their pup, while cat owners have it a little easier, at between $930 and $2,400 per year, according to pet-sitting app Rover. Between vaccinations, spaying/neutering, routine check-ups, and illness or emergencies, the costs of vet visits can start to rival your mortgage payments.

    While inflation has had an impact on pet-care costs—as it has on virtually everything else we pay for in life—it’s not the only factor at play. The landscape of veterinary care has changed in recent years, largely thanks to staff shortages, the involvement of big corporations—in recent years, many independent clinics have sold to private equity firms—and increasingly sophisticated equipment and treatments. Here’s why you’re paying through the nose to keep your beloved four-legged friend healthy—and how you can reduce those costs a little.

    Why is veterinary care so expensive?

    Image by Freepik

    There’s a lot that goes into animal health care. If your pet has been injured or simply isn’t feeling well—they’re uncharacteristically lethargic, say, or not interested in food—a battery of tests may be required to pinpoint the issue and determine care. X-ray and ultrasound machines, lab equipment and other vet tools have become more advanced in recent years, and as clinics invest into them, they have to charge more to recoup those costs. 

    Treatments can be pricey as well. Thanks to our publicly funded health care system, Canadians aren’t used to being confronted with the costs of medical care, so a several-thousand-dollar bill for chemo or surgery for your golden retriever can be a shock. But treatments for animal illnesses are often the same or very similar to human ones, so the costs are similar, too. Supply chain disruptions, coupled with a limited number of drug distributors, have led to higher medication prices as well.

    And, like everyone else in the country, vets have seen their expenses rise due to inflation. Rents are higher, as are interest rates on loans, property taxes, insurance, utilities and maintenance fees. Vet businesses are feeling the pinch just like the rest of us, and they need to cover their basic running costs.

    Another issue is staff shortages. There were barely enough veterinarians and veterinary technicians to go around pre-2020. Then, during COVID-19 lockdowns, pet ownership shot up, leaving many clinics struggling to cope with patient demand. There’s hot competition for potential staff, and one way to lure new talent is by offering higher compensation—that cost often gets passed on to pet parents. Let’s not forget there are clinic support workers who keep everything going, such as receptionists and cleaners; they need fair compensation, too.

    One of the biggest factors in the increase in vet bills is that many clinics have been bought up by large corporations over the past few years at surprisingly high prices—sometimes as much as 30 times the clinic’s annual sales. These corporations tend to be more driven by profit than independent clinics and often pressure vets to increase billing or rates so they can plump up their investment. As well, with the high interest rates of the past two years, their new acquisitions have been costing them more than they anticipated, adding even more impetus to raise fees.

    Watch: Is pet insurance worth it?

    How can you save money on vet care?

    “An ounce of prevention,” well, you know the rest. It’s easy to just not worry about your pet’s health if they seem fine and happy, but being proactive now could save you a hefty bill down the road. Ensuring they eat healthy, get plenty of exercise and all the necessary shots and routine check-ups could help you prevent illness—or catch it at an early stage—and avoid potentially expensive treatments. 

    Be sure to shop around animal clinics before settling on where to take your pet. Rates can vary significantly, so it’s worth calling several spots to compare prices. Such differences aren’t necessarily random—the fees might include different things, such as bloodwork and pain medication, and some clinics have newer or better equipment or just pay higher rent. There are also lower-cost spay/neuter and vaccination facilities that offer a more basic (but still safe and adequate) service.

    [ad_2]

    Ciara Rickard

    Source link

  • Bancassurance, the key to universal coverage

    Bancassurance, the key to universal coverage

    [ad_1]

    Bancassurance is usually considered “win-win” for a bank and an insurance company as they enter into a tie-up for distribution of insurance products. But, if a vast section of the previously uninsured population can get insurance cover through this channel, the situation becomes “win-win-win”.

    “Win” for the bank as it gets commission for selling insurance products (as a Corporate Agent) to its own customers, “win” for the insurer as it can reach more customers through the bank and “win” for customers (a large section of the Indian population is currently uninsured).

    Now, a substantial portion of India’s population presently does not have the security of insurance coverage. According to a National Insurance Academy report nearly 60 to 70 per cent Indians remain uninsured. And the 30 per cent insured are found to be working in private and or government sectors. “This indicates that the insurance penetration is low among the self-employed people working in the unorganised sector, which accounts for over 40 per cent of the working population,” the report noted.

    So, the Insurance Regulatory and Development Authority of India’s (IRDAI) move to set up a taskforce on the bancassurance distribution channel (on October 31, 2023) comes in the backdrop of lack of insurance coverage for a significant section of the population. The insurance regulator wants to perk up this channel so that its objective of “Insurance for All” by 2047 can be achieved.

    Expanding horizons

    CR Vijayan, ex-Deputy Secretary General of the General Insurance Council, emphasised that bancassurance can be a very useful channel for achieving higher insurance coverage. For insurers, the advantage of a bancassurance partnership is that a ready-made market (a bank’s customers) is available. “Banks can launch customised products for their customers. For example, most of the banks offer health insurance for their account holders. This way insurance companies can reach out to a section of people whom they would otherwise not have reached out to,” he said.

    Pankaj Gupta, Managing Director and CEO, Pramerica Life Insurance, observed that banks — with their reach, trust with customers and ability to craft financial solutions — are uniquely positioned to assess customer needs and extend protection through appropriate insurance products. They play a pivotal role in expanding access to insurance. “Given that these customers have established relationships with their banks, the sales process is also simpler and underwriting and KYC is smoother. This reduces the cost as well as risk associated with distribution.”

    “Banks are also in a position to place insurance solutions in the context of the overall financial needs of customers, thereby ensuring a holistic approach and a better customer experience,” he said. Gupta underscored that for insurance companies, long-term partnerships with banks leads not only to greater business stability and predictability, but also co-creating joint solutions and products to innovatively meet the needs of a diverse customer base.

    Increasing access

    Industry experts emphasise that an insurance cover (life, medical and accident insurance) is a fundamental pillar of financial security for everyone. And, Bancassurance is one of the fastest ways to achieve the “Insurance for All objective”.

    Dheeraj Sehgal, Chief Distribution Officer – Institutional Business, Bajaj Allianz Life Insurance, opined that initiatives under the “Insurance for All by 2047” umbrella aim to make insurance products more customisable and accessible to people across the country. “One of the most significant enablers of this accessibility is bancassurance partnerships. Banks, with their extensive reach through the network of branches, can significantly bolster insurance awareness and penetration. The move to an open architecture, allowing banks to partner with up to nine insurance companies, has introduced more choices for customers,” he said.

    Under IRDAI guidelines, a Corporate Agent (Composite) can have tie-ups with three insurers each in life, general and health segments.

    Biju Menon, Chief Business Officer (CBO), Star Health and Allied Insurance, observed that bancassurance is transforming the insurance landscape since it brings significant benefits such as increased market reach, cost efficiency, cross-sell opportunities, enhanced customer trust and a diversified distribution channel for insurance companies. “Partnerships and a diversified distribution strategy will characterise the future of innovation for insurance companies, which in turn will lead to deeper insurance penetration,” he said.

    An analysis of IRDAI data indicates untapped potential for expanding the reach of insurance coverage while augmenting the fee-based income for banks. The contribution of banks as corporate agents was 5.93 per cent of non-life premium and 17.44 percent of the new business premium for the life insurers in 2022-23, per latest IRDAI data. One of the ways, according to a senior IRDAI official, to reach the last mile in insurance coverage and make the insurance products available in all parts of the country is to leverage the vast bank branch network.

    Nitin Mehta, Chief Distribution Officer, Bharti AXA Life Insurance, said that there is immense potential to transform the insurance sector and achieve the ‘Insurance for All’ goal by harnessing the combined strength of banks and life insurers. “Firstly, bancassurance capitalises on the immense trust and vast branch network of banks, enabling life insurers to bypass the limitations of traditional distribution channels and reach previously unbanked and under-insured segments, particularly in rural areas. “Secondly, the partnership allows for co-created micro-insurance products that are both affordable and cater to the specific needs of diverse customer groups,” he said.

    Mehta cited the example of a low-wage earner purchasing a micro-term plan seamlessly integrated with his/her existing bank account. These bite-sized plans, catering to diverse needs and risk profiles, address affordability concerns — a significant barrier for many, he added.

    While bancassurance is a useful distribution channel for increasing insurance coverage in the country, insurance sector veteran Vijayan suggested that insurers should also explore tie-ups with telecom service providers. Given that there are about 117 crore mobile phone subscribers, partnerships between insurers and telecom service providers by incorporating an element of insurance in mobile subscription plans could cover most of the Indian population.

    (With inputs from G Naga Sridhar)

    [ad_2]

    Source link

  • Trump claims credit for Biden’s insulin price cap

    Trump claims credit for Biden’s insulin price cap

    [ad_1]

    President Joe Biden and former President Donald Trump 2024.

    Kevin Lamarque | Jay Paul | Reuters

    Former President Donald Trump on Saturday recognized that the price of insulin is lower under President Joe Biden, but he still wants voters to credit his own administration.

    “Low INSULIN PRICING was gotten for millions of Americans by me, and the Trump Administration, not by Crooked Joe Biden. He had NOTHING to do with it,” Trump wrote in a Truth Social post. “It was all done long before he so sadly entered office. All he does is try to take credit for things done by others, in this case, ME!”

    The comment comes as Trump lags Biden on the issue of health care, a top voter priority as the November election nears.

    For example, a May survey from KFF, a nonpartisan health policy research group, found Biden with an 11-point lead over Trump on the question of ensuring access to affordable health insurance.

    Biden led on several other health-care-related topics in the poll, though the candidates were relatively split on addressing high health-care costs. The poll surveyed 1,479 U.S. adults from April 23 to May 1 and the margin of error is +/- 3 percentage points.

    The two candidates are expected to have their first face-to-face presidential debate on June 27.

    Insulin price caps have become a central piece of evidence for Biden’s broader economic argument on the campaign trail against Trump.

    Under the Inflation Reduction Act, Biden issued a host of provisions aimed at bringing down the price of medicine for seniors, including capping the price of insulin at $35 per month for Medicare recipients. The president has continued to push for a more universal insulin cap that would cover younger people as well.

    “Instead of paying $400 a month for insulin, seniors with diabetes only have to pay $35 a month!” Biden said at his State of the Union address in March. “And now I want to cap the cost of insulin at $35 a month for every American who needs it!”

    The Democratic incumbent is trying to use lower insulin costs as proof that he has helped lower consumer costs despite the stubbornly high levels of inflation that have loomed over the U.S. economy’s post-pandemic recovery.

    For Trump’s part, the former president signed an executive order in the last year of his administration to issue his own $35 price cap on insulin. Biden later paused that policy when he took office as part of a larger freeze to allow his administration to review new regulations set to go into effect.

    But the memory of Trump-era health-care policies has still dimmed some voters’ views on the track record of the presumptive GOP presidential nominee. A CNBC All-America Economic survey issued in December found that Biden was ahead by 19 points against Trump on health care.

    Trump unsuccessfully spent most of his presidential term trying to repeal the Obama-era Affordable Care Act without offering a viable alternative health-care option. The ACA provides roughly 45 million Americans wit health insurance, according to a March estimate from the White House.

    Trump has doubled down on the promise to replace Obamacare on the 2024 campaign trail, though he has still not outlined what that replacement would look like.

    “I’m not running to terminate the ACA as Crooked Joe Biden says all over the place,” Trump said in a video posted to his Truth Social account in April. “We’re going to make the ACA much better than it is right now and much less expensive for you.”

    [ad_2]

    Source link

  • Few prepared to cover long-term care costs

    Few prepared to cover long-term care costs

    [ad_1]

    Editor’s note: The share of the U.S. population older than 65 keeps rising – and will for decades to come. Since nearly half of Americans over 65 will pay for some version of long-term health care, CNHI News and The Associated Press examined the state of long-term care in the series High Cost of Long-Term Care, which began Friday and continues this week.

    While many Americans will need long-term care as they get older, few are prepared to pay for it.

    Medicare, which provides Americans over the age 65 with health insurance, doesn’t cover most long-term care services. And Medicaid — the primary safety net for long-term care coverage — only covers those who are indigent.

    Federal estimates suggest 70% of people ages 65 and older will need long-term care before they die, but only 3% to 4% of Americans age 50 and older are paying for long-term care policies, according to insurance industry figures.

    The high cost of premiums for those private long-term care policies puts it out of reach for most people.

    Even some who have this kind of insurance find it doesn’t provide enough to cover the costs of home health aides, assisted-living facilities or nursing homes.

    “People think that long-term care insurance is for everyone — but it is not,” said Jessie Slone, executive director of the American Association for Long-term Care Insurance, an advocacy group. “It’s for a very small subset of individuals who plan, and have some retirement assets and income they can use to pay for it.”

    To qualify, applicants need to pass a health review. Slone said insurance companies have underwriting policies with “page after page” of conditions that will disqualify people from getting that coverage.”If you live a long life, the chances of you needing care are significant. So then the issue becomes who’s going to provide for that care, and who’s going to pay for it. For some, long-term care insurance is an option.”

    Prices vary, based on the age when people apply, how good their health is at the time, and how much coverage they want. “You have to start looking at this generally in your 50s or 60s,” Slone said. “Because, as you get older, you’re going to have conditions which insurers are going to look at, determine that you’re very likely to need long-term care and not give you a policy.”

    That coverage, if you can get it, doesn’t come cheap: In 2023, the annual average cost for a policy for a couple both age 55, taking out a $165,000 initial pool growing at 3% compounded annually — ranged from a low of $5,018 to $14,695 a year, according to the association.

    But, compared to auto insurance — which most people may never use — long-term care insurance is a good investment for those who can afford it, Slone said. “Car insurance is the most expensive insurance you ever pay because the chances of you getting into a car accident are somewhat remote. But the chances of someone needing long-term care if they make it to 90 are pretty significant.”

    Lori Smetanka, executive director of the National Consumer Voice for Quality Long-Term Care, a national nonprofit advocacy group, views it differently. She said the private long-term care insurance system has become a “bust” amid rising premiums and difficulties accessing benefits.

    Consider the fact that the number of companies offering long-term care insurance is declining, while payouts are steadily increasing as the baby boomer generation ages.”Most people have found it very expensive,” Smetanka said. “But, at the same time, people are finding that it wasn’t covering what they needed.”

    Last year, insurers paid a record of more than $14 billion to cover an estimated 353,000 long-term care claims, according to industry figures. That’s compared to about $11.6 billion just three years ago.

    Currently, there are about 7.5 million people in the U.S. age 65 and older with private long-term care insurance, according to industry data.

    With that incentive, some states, including Washington and California, are looking at creating long-term care social insurance pools funded by payroll taxes and other sources of funding. The effort also is being spurred, in part, by the rising costs borne by states for Medicaid long-term care coverage, which they share with the federal government.

    “More and more states are coming to the conclusion that this is an under-funded system,” said Marc Cohen, a researcher and co-director of the LeadingAge LTSS Center at the University of Massachusetts at Boston. “There are simply not enough dollars going into the system – given the needs and the demands of the growing elderly population.”

    So far, Washington is the only state to try to address the issue. A law approved by the state Legislature in 2019 created a long-term care benefit program, which provides residents with up to $36,500 to pay for costs such as caregiving, wheelchair ramps, meal deliveries and nursing home fees.

    The Cares Funds is covered by a payroll tax that deducts 0.58% out of paychecks but guarantees a $36,500 lifetime benefit for those who have paid into the fund for 10 years.

    Several other states are studying the issue. In California, a task force is looking at how to design a long-term care program, according to the National Conference of State Legislatures. Massachusetts, Illinois and Michigan also are weighing the costs versus benefits of creating a state long-term care benefits program.

    But the issue of imposing new taxes to pay for long-term care insurance is controversial — and politically unpopular — on both a state and federal level.

    Washington’s long-term care insurance law is facing a repeal effort from a group backed by hedge fund executive Brian Heywood that argues the system should be voluntary. Voters in November will decide whether to allow people to opt out, which supporters say would essentially gut the program.

    “There are a lot of states that are looking to see what happens in Washington,” Cohen said. “If this billionaire who is funding this repeal effort wins, it will be a real blow.”

    Cohen said efforts on a federal level to create a publicly funded insurance pool haven’t gained much traction. A long-term care program created by Congress through the CLASS Plan, which was tied to the Affordable Care Act, was voluntary. That law was repealed in early 2013.

    “It never got off the ground before it was repealed,” he said. “With the dysfunction in Congress, we’re likely to see more action on a state level than the federal.”

    Recent polls suggest there may be some public support for the move. A survey by the National Council on Aging found more than 90% of the 1,000 female respondents across party lines support the idea of creating a government program to pay for the cost of long-term care.

    “The level of support was significant, and very bipartisan,” said Howard Bedlin, a long-term care expert with the council. “People keep talking about how Congress can’t find bipartisan support. Well, the voters clearly support it.

    “The politicians just aren’t giving these issues the attention they deserve.”

    Christian M. Wade is a reporter for North of Boston Media Group.

    [ad_2]

    By Christian M. Wade | CNHI News

    Source link

  • Safety net hospital fund shortfall widening

    Safety net hospital fund shortfall widening

    [ad_1]

    BOSTON — Lawmakers are seeking more support for the state’s safety net hospitals amid rising concerns about the fiscal health of a fund that helps cover medical costs for large numbers of uninsured and low-income patients.

    Hospitals and health insurers pay into the so-called safety net fund – a pool of money that helps fund care for hundreds of thousands of low-income residents who are uninsured or underinsured – with the state chipping in additional funding. But if the fund runs low, hospitals are on the hook for the shortfall.

    The fund is projected to have a shortfall of more than $220 million in the upcoming fiscal year, hospitals say, rising to the highest level in nearly two decades.

    Without additional funding, financially challenged hospitals will be forced to cover the deficit, leaving less money to provide medical care for low-income and uninsured patients, they say.

    An amendment to the Senate’s version of the $57.9 billion state budget filed by Sen. Barry Finegold, D-Andover, would require commercial health insurance companies to cover 50% of any revenue shortfalls in the safety net fund.

    “We need to do something to help our local hospitals,” Finegold said. “This is part of a long-term problem with funding for hospitals that serve the state’s most vulnerable residents. We need to fix it.”

    Many earmarks

    Finegold’s proposal is one of more than 1,000 amendments to the Senate’s budget, many of them local earmarks seeking to divert more state money to local governments, schools, cash-strapped community groups and nonprofits. Only a handful will likely make it into the Senate’s final spending package.

    The plan faces pushback from the Massachusetts Association of Health Plans, which represents commercial insurers who would be impacted by the proposed changes to the hospital safety net program.

    Lora Pellegrini, the group’s president and CEO, said requiring insurers to cover the fund’s shortfalls would jeopardize negotiations between the state Department of Health and Human Services and the U.S. Centers for Medicare and Medicaid Services that seek to reduce assessments paid by medical insurance carriers.

    “This really came out of nowhere, and would be counterproductive to those efforts,” she said. “We have a committee process for a reason and that’s where these kinds of special interest issues should be vetted, not in the budget.”

    But the move is backed by the Massachusetts Health and Hospital Association, which says requiring insurers to cover the shortfall would help alleviate an “unmanageable financial burden” on the health care system “by broadening funding support for the program.”

    “The Health Safety Net is a vital component of Massachusetts’ healthcare infrastructure and its ability to cover the costs of care for low-income and uninsured patients,” Daniel McHale, MHP’s vice president for Healthcare Finance & Policy, said in a statement.

    “At this increasingly fragile time for the entire health care system, it is imperative that we take the steps needed to stabilize the safety net for the people and providers who rely on it each day.”

    Local hospitals affected

    The state’s safety net hospitals and community health centers – which include Lawrence Hospital, Salem Hospital, Holy Family Hospital in Methuen and Anna Jaques Hospital in Newburyport – serve a disproportionate percentage of low-income patients.

    Many are heavily dependent on Medicaid reimbursements, which are typically less than commercial insurance payouts.

    Nearly 30% of Lawrence General’s gross revenue is for care provided to Medicaid, or MassHealth, patients. The state average is 18%.

    Many community hospitals are collecting from low-paying government insurance programs, and getting below-average reimbursements from commercial insurers, advocates say.

    Lawmakers also swept money from the hospital safety net fund to help cover the costs of new Medicare savings programs that pay some or all of eligible senior citizen’s premiums and other health care costs, including prescriptions.

    Hospitals are also seeing increased demand from uninsured patients as hundreds of thousands of Medicaid recipients see their state-sponsored health care coverage dropped following the end of federal pandemic-related programs, which is driving up costs. Claims processing problems are another factor adding to hospital costs, they say.

    Those and other factors have widened the fund’s shortfall from $68 million in fiscal 2022 to more than $210 million in the previous fiscal year, according to the hospital association. Combined, the shortfall could reach $600 million for the three fiscal years, the association said.

    Biggest expense

    The House, which approved its $58.2 billion version of the state budget two weeks ago, proposed $17.3 million in state funding for the hospital safety net fund. The Senate, which begins debate on its version of the budget next week, has proposed a similar amount.

    In the current budget, the state allocated $91.4 million for the safety net fund.

    But the House budget didn’t include an amendment requiring insurers to help hospitals pay the shortfall. That means even if the Senate approves Finegold’s amendment, it would still need to be negotiated as part of the final budget before landing on Gov. Maura Healey’s desk for consideration.

    Health care coverage, in the meantime, is one of the state’s biggest expenses. Medicaid costs have doubled in the past decade and now account for nearly 40% of state spending.

    MassHealth serves more than 2 million people – roughly one-third of the state’s population – despite federal Medicaid redeterminations that have reduced its rolls over the past year.

    [ad_2]

    By Christian M. Wade | Statehouse Reporter

    Source link

  • Small biz feels left out of legislative blitz

    Small biz feels left out of legislative blitz

    [ad_1]

    BOSTON — A top lobbyist for small businesses said that he does not see lawmakers giving a “primary focus” to that sector, with hefty bills on economic development and health care missing an opportunity to lift up Main Street businesses.

    “I think they need to be a top discussion item,” said Jon Hurst of the Retailers Association of Massachusetts, adding that there was “not enough” targeted legislation for small businesses moving through the State House.

    RAM joined with the Mass. Restaurant Association and the National Federation of Independent Business at a lobbying event inside the capitol on Wednesday, timed about two and a half months away from the end of large-scale lawmaking for this term.

    “This is an election year. This is the year in which we do an economic development bill. Yet, what level of discussion has there been on helping our main streets, helping our small businesses? They are the backbone, they are the majority of our jobs,” Hurst told the News Service.

    He added that he saw “a general taking-for-granted of small businesses out there.”

    Rep. Paul McMurtry, co-chair of the Joint Committee on Community Development and Small Businesses, told the News Service he agreed that “sometimes in policymaking, we take small businesses for granted.”

    “And a lot of us in the small business community focus on running and managing and operating that business day-to-day, don’t have time to focus on the policies and legislative issues,” added the Dedham Democrat, who owns and operates Dedham Community Theatre.

    NFIB’s Christopher Carlozzi told the crowd in a State House meeting room that Gov. Maura Healey’s so-called Municipal Empowerment Act “should be on a lot of your radar screens.”

    The governor’s bill would open the door for increases in local-option meals and occupancy taxes, and Carlozzi said he saw “quite a few mayors and town officials” at the bill’s committee hearing who were ready to embrace the new revenue tools.

    “If you’re a restaurant, if you’re in hospitality, we don’t want consumers to find a reason to go to New Hampshire, or go to Maine, or go to another state and vacation. We want them spending their dollars in Massachusetts,” Carlozzi said.

    While Healey’s bill is still pending, top Democrats haven’t advanced it and have shown little interest in the local option taxes, apart from a potential new tax on high-dollar real estate transactions to fund affordable housing investments.

    Sen. Bruce Tarr listed off other “challenges” that face small businesses, including the cost of workers’ compensation and Paid Family and Medical Leave contributions.

    “There are so many issues when every day you’re running a small business and it’s Thursday night, and you’re thinking about making payroll for Friday,” Tarr said, “and you’re wondering, ‘How am I going to get through that next day, or that next week, with all of these different things that are coming at me?’”

    Public policy affects both the “very flat to down sales” numbers as well as the “very high costs” that local shops must deal with, Hurst said.

    “And particularly for small businesses, some of the costs out there are just choking them,” Hurst added. “It’s one thing, if you’re big companies or you’re very profitable margin type of companies, whether it be biotech, health care, technology, banking and so forth. They’re doing OK, but their customers are not. The small businesses are not. So we have to start focusing on, what can we do to help them?”

    While that could be a “major thrust” of the economic development bill, he said he sees legislators’ eyes attracted to areas like biotech and climate technology.

    “I mean they’re perfectly important for our economy, but there should be an equal thrust on helping our small businesses survive and thrive,” he said.

    Tarr, a Gloucester Republican, said lawmakers were faced in the near-term with “a number of vehicles” that could carry small business priorities, including the Senate budget bill scheduled for debate next week. Senators have filed 1,100 amendments to the bill, including around 110 from Tarr, some dealing with the sales tax or health insurance purchasing cooperatives.

    The Retailers Association passed out a list of four priority bills at the event, though one of them — related to insurance purchasing cooperatives — has already been effectively relegated to the dustbin by a joint committee.

    Sen. Michael Moore’s bill (S 687) would allow insurers to “provide members of small business group purchasing cooperatives with year-end incentives based on administrative efficiencies resulting from the group purchase of coverage,” according to a summary.

    The Joint Committee on Financial Services sent it to study in February. It remained one of the focuses of the lobby day, though, and Moore told the crowd he would potentially file the language as an amendment to the pending economic development bill.

    The Millbury Democrat said he expected action on the eco-dev bill “over the next month and a half or two months,” a timeline that could have Democrats scrambling like they did two years ago when they couldn’t agree to a bill at the July 31 deadline.

    “There’s a big health care bill [in the House] this week,” RAM’s Hurst told the News Service. “How much of that is focused on lowering the cost of health insurance for small businesses? Not seeing much on that, right?”

    Other priorities on the Retailers Association list included bills dealing with credit card surcharging (Rep. James Murphy, H 1101), workers’ compensation premium payment schedules (Sen. Susan Moran, S 695), and a proposed “vendors’ collection allowance” to compensate businesses for collecting and remitting taxes (Sen. John Velis, S 1957).

    The credit card surcharge bill is in House Rules, the workers’ comp bill was sent to Senate Ways and Means in March, and the vendors’ allowance bill is still before the Joint Committee on Revenue.

    Ahead of their lobbying stops around the building, Jessica Muradian of the Mass. Restaurant Association also prepped attendees on opposition to the tipped wage ballot question. The head of the Restaurant Association is among the plaintiffs in a pending Supreme Judicial Court challenge to the question’s certification to appear before voters.

    Muradian said that “we will find out by the end of June if we won that case or not. If we win it, then there’s no more ballot question. If we don’t win it, we fight on and we win it at the ballot in November with your help.”

    Moore has conducted his own unscientific poll of restaurant workers, he told the business owners.

    “I have, on occasion, been out and asked and tried to survey some of them. and when you actually explain what the law will do, they do understand this is going to hurt them, that their wage is going to go down,” he said, adding that policymakers should focus on the tipped wage issue “because I don’t think a lot of people really understand what the effects are going to be, and also the employees who are benefiting from the current system.”

    For McMurtry’s part, he sees a number of small businesses, including his own, still affected by negative implications of COVID-19. He said the Legislature should “put some focus on the small business community” as local outfits continue to emerge from the pandemic.

    McMurtry told the News Service that business at his 97-year-old cinema is “still challenging” post-COVID, but he’s staying the course.

    “We get the right movie, we do well,” the Dedham Democrat said.

    [ad_2]

    By Sam Doran | State House News Service

    Source link

  • CVS cuts 2024 profit forecast as insurance unit faces soaring medical costs

    CVS cuts 2024 profit forecast as insurance unit faces soaring medical costs

    [ad_1]

    (Reuters) -CVS Health Corp slashed its annual profit forecast and missed Wall Street estimates for first-quarter earnings on Wednesday, as elevated demand for non-urgent procedures increased medical costs at its health insurance business.

    The U.S. healthcare giant cut its per-share adjusted earnings forecast for 2024 to at least $7.00 from at least $8.30, adding it anticipates the surge in medical procedures at its unit that houses health insurer Aetna to persist.

    Shares of the company fell 9.7% to $61.15 in premarket trading. They have fallen about 14% so far this year, through Tuesday’s close.

    U.S. health insurers have had to contend with rising medical costs over the past few quarters following higher demand for procedures, especially among older adults, that were delayed during the pandemic.

    CVS said in February it was seeing a rise in hip and knee surgeries, medical services related to the eyes, dental work, as well as vaccinations including the RSV shot during the last three months of 2023.

    The company’s health care benefits segment, which houses the Aetna unit, recorded medical cost ratio – the percentage of premiums spent on healthcare – of 90.4% for the first quarter. That compared with 84.6% a year earlier, and above analysts’ average estimate of 88.43%, according to LSEG data.

    Aetna is also expected to face pressure after the government announced 2025 reimbursement rates to providers of Medicare Advantage health plans below expectations, raising worries about a squeeze on margins.

    Humana last week pulled its already trimmed 2025 profit forecast, citing the disappointing rates.

    CVS, which withdrew its 2025 adjusted earnings forecast of $10 per share in August, said in February it was targeting low double-digit percentage growth.

    On an adjusted basis, the company reported a profit of $1.31 per share for the three months ended March 31, below analysts’ average estimate of $1.69.

    (Reporting by Christy Santhosh and Leroy Leo in Bengaluru; Editing by Sriraj Kalluvila)

    [ad_2]

    Source link

  • Health insurance claim assistance platform ClaimBuddy raises $5 million

    Health insurance claim assistance platform ClaimBuddy raises $5 million

    [ad_1]

    Health insurance claim assistance platform ClaimBuddy has raised a $5 million investment, marking the successful closure of its Series A funding. The funding round was led by Bharat Innovation Fund (BIF), and saw participation from Japanese fund CAC Capital, along with existing investors Chiratae Ventures and Rebright Partners.

    The fund will help ClaimBuddy advance its technology, expand its team and sales network, and add new product lines for its growing network of Hospitals.

    Founded in 2020 by Khet Singh Rajpurohit and Ajit Patel, ClaimBuddy aims to find a seamless solution in the healthcare financing space by addressing the challenges faced by patients and hospitals in the health insurance claim process.

    Since its inception, ClaimBuddy has claimed to process claims for over 35,000 patients, valued at over 500+ crore, and has established collaborations with 250+ partner hospitals across India.

    “Our vision for ClaimBuddy has always been to alleviate the burden on both patients and hospitals in navigating complexities of healthcare expenses & health insurance claims. With this significant investment, we are well-positioned to introduce innovative financial tools & scale our operations and continue driving meaningful impact in the healthcare industry,” said Khet Singh Rajpurohit, CEO at ClaimBuddy.

    The company looks to simplify the claims process by offering cashless and hassle-free experiences for all parties involved.

    “Patients still face very basic problems in their speed of discharge and settlement of a health insurance claim made through the reimbursement mode. With a strong understanding of these challenges in this space, Khet and Ajit are helping solve this problem and having acquired some of the best-known hospital chains in India as customers, are poised to bring a very positive impact in the patient experiences across the country. We look forward to provide a tailwind to their efforts,” said Ashwin Raguraman, Co-founder and Partner at Bharat Innovation Fund.

    [ad_2]

    Source link

  • Flint funeral home goes quiet after judge orders release of Councilman Mays’s body

    Flint funeral home goes quiet after judge orders release of Councilman Mays’s body

    [ad_1]

    City of Flint

    Flint City Councilman Eric Mays.

    A judge ordered a funeral home to release Flint City Councilman Eric Mays’s body to his only son Monday, but that didn’t happen.

    Mays’s son Eric HaKeem Deontaye Mays arrived at the Lawrence E. Moon Funeral Home in Flint on Monday evening with a hearse, expecting to move his father to a new funeral home in Saginaw.

    But no one was at the Lawrence E. Moon Funeral Home, and its attorney refused to comply with the order, Mays’s lawyer Joseph Cannizzo tells Metro Times.

    A man who answered the phone at the funeral home declined to comment Tuesday morning.

    Mays’s son filed a lawsuit last week against the funeral home and his four siblings last week. The lawsuit accused the funeral home of holding Mays’s body “hostage” by refusing to turn it over to the son. The lawsuit also alleged Mays’s four siblings conspired to seize control of Mays’s body and profit from “their fraudulent scheme” by soliciting donations from the community for funeral services.

    Judge Brian S. Pickell of Michigan’s 7th Circuit Court said the son, as next of kin, had the right to make funeral arrangements, not Mays’s siblings.

    After the ruling, Mays arranged for the body to be transferred to the Paradise Funeral Chapel in Saginaw.

    Mays, a passionate and sometimes combative councilman and TikTok sensation, died at his home on Feb. 24 but didn’t leave behind a will, according to the suit.

    The suit alleged that two of Mays’s siblings lied to the Genesee County Medical Examiner’s Office by saying the councilman had no children. A third sibling, who is an employee of the funeral home, falsely claimed that he had legal authority to authorize the release of the body, the suit claimed.

    Mays’s son also filed a lawsuit against city officials on Friday, claiming they engaged in “a cruel act of retaliation” by withholding information about his father’s insurance benefits.

    Flint officials countered that the city could not turn over the information because Mays did not list a beneficiary with the city’s insurance companies. When no beneficiary is designated, “the policy is payable to the Employee’s estate,” Flint Human Resources Director Eddie Smith said in a statement, citing the city’s benefit policies.

    City officials said they are awaiting a probate court to designate a personal representative of Mays’s estate.

    [ad_2]

    Steve Neavling

    Source link

  • Notable US Supreme Court Decisions Fast Facts | CNN

    Notable US Supreme Court Decisions Fast Facts | CNN

    [ad_1]



    CNN
     — 

    Here’s a look at some of the most important cases decided by the US Supreme Court since 1789.

    1803Marbury v. Madison
    This decision established the system of checks and balances and the power of the Supreme Court within the federal government.

    Situation: Federalist William Marbury and many others were appointed to positions by outgoing President John Adams. The appointments were not finalized before the new Secretary of State James Madison took office, and Madison chose not to honor them. Marbury and the others invoked an Act of Congress and sued to get their appointed positions.

    The Court decided against Marbury 6-0.

    Historical significance: Chief Justice John Marshall wrote, “An act of the legislature repugnant to the constitution is void.” It was the first time the Supreme Court declared unconstitutional a law that had been passed by Congress.

    1857 – Dred Scott v. Sandford
    This decision established that slaves were not citizens of the United States and were not protected under the US Constitution.

    Situation: Dred Scott and his wife Harriet sued for their freedom in Missouri, a slave state, after having lived with their owner, an Army surgeon, in the free Territory of Wisconsin.

    The Court decided against Scott 7-2.

    Historical significance: The decision overturned the Missouri Compromise, where Congress had prohibited slavery in the territories. The Dred Scott decision was overturned later with the adoption of the 13th Amendment, abolishing slavery in 1865 and the 14th Amendment in 1868, granting citizenship to all born in the United States.

    1896 – Plessy v. Ferguson
    This decision established the rule of segregation, separate but equal.

    Situation: While attempting to test the constitutionality of the Separate Car Law in Louisiana, Homer Plessy, a man of 1/8 African descent, sat in the train car for whites instead of the blacks-only train car and was arrested.

    The Court decided against Plessy 7-1.

    Historical significance: Justice Henry Billings Brown wrote, “The argument also assumes that social prejudice may be overcome by legislation and that equal rights cannot be secured except by an enforced commingling of the two races… if the civil and political rights of both races be equal, one cannot be inferior to the other civilly or politically. If one race be inferior to the other socially, the Constitution of the United States cannot put them upon the same plane.” The Court gave merit to the “Jim Crow” system. Plessy was overturned by the Brown v. Board of Education decision. In January 2022 Louisiana Governor John Bel Edwards granted a posthumous pardon to Homer Plessy. The pardon comes after the Louisiana Board of Pardons voted unanimously in November 2021 in favor of a pardon for Plessy, who died in his 60s in 1925.

    1954 – Brown v. Board of Education
    This decision overturned Plessy v. Ferguson and granted equal protection under the law.

    Situation: Segregation of the public school systems in the United States was addressed when cases in Kansas, South Carolina, Delaware and Virginia were all decided together under Brown v. Board of Education. Third-grader Linda Brown was denied admission to the white school a few blocks from her home and was forced to attend the blacks-only school a mile away.

    The Court decided in favor of Brown unanimously.

    Historical significance: Racial segregation violates the Equal Protection Clause of the 14th Amendment.

    1963 – Gideon v. Wainwright
    This decision guarantees the right to counsel.

    Situation: Clarence Earl Gideon was forced to defend himself when he requested a lawyer from a Florida court and was refused. He was convicted and sentenced to five years for breaking and entering.

    The Court decided in favor of Gideon unanimously.

    Historical significance: Ensures the Sixth Amendment’s guarantee to counsel is applicable to the states through the 14th Amendment’s due process clause.

    1964New York Times v. Sullivan
    This decision upheld the First Amendment rights of freedom of speech and freedom of the press.

    Situation: The New York Times and four African-American ministers were sued for libel by Montgomery, Alabama, police commissioner L.B. Sullivan. Sullivan claimed a full-page ad in the Times discussing the arrest of Martin Luther King Jr., and his efforts toward voter registration and integration in Montgomery were defamatory against him. Alabama’s libel law did not require Sullivan to prove harm since the ad did contain factual errors. He was awarded $500,000.

    The Court decided against Sullivan unanimously.

    Historical significance: The First Amendment protects free speech and publication of all statements about public officials made without actual malice.

    1966Miranda v. Arizona
    The decision established the rights of suspects against self-incrimination.

    Situation: Ernesto Miranda was convicted of rape and kidnapping after he confessed, while in police custody, without benefit of counsel or knowledge of his constitutional right to remain silent.

    The court decided in favor of Miranda 5-4.

    Historical significance: Upon arrest and/or questioning, all suspects are given some form of their constitutional rights – “You have the right to remain silent. Anything you say can and will be used against you in a court of law. You have the right to an attorney. If you cannot afford an attorney, one will be provided for you. Do you understand the rights I have just read to you? With these rights in mind, do you wish to speak to me?”

    1973 – Roe v. Wade
    This decision expanded privacy rights to include a woman’s right to choose pregnancy or abortion.

    Situation: “Jane Roe” (Norma McCorvey), single and living in Texas, did not want to continue her third pregnancy. Under Texas law, she could not legally obtain an abortion.

    The Court decided in favor of Roe 7-2.

    Historical significance: Abortion is legal in all 50 states. Women have the right to choose between pregnancy and abortion.

    1974 – United States v. Nixon
    This decision established that executive privilege is neither absolute nor unqualified.

    Situation: President Richard Nixon’s taped conversations from 1971 onward were the object of subpoenas by both the special prosecutor and those under indictment in the Watergate scandal. The president claimed immunity from subpoena under executive privilege.

    The Court decided against Nixon 8-0.

    Historical significance: The president is not above the law. After the Court ruled on July 24, 1974, Richard Nixon resigned on August 8.

    1978 – Regents of the U. of California v. Bakke
    This decision ruled that race cannot be the only factor in college admissions.

    Situation: Allan Bakke had twice applied for and was denied admission to the University of California Medical School at Davis. Bakke was white, male and 35 years old. He claimed under California’s affirmative action plan, minorities with lower grades and test scores were admitted to the medical school when he was not, therefore his denial of admission was based solely on race.

    The Court decided in Bakke’s favor, 5-4.

    Historical significance: Affirmative action is approved by the Court and schools may use race as an admissions factor. However, the Equal Protection Clause of the 14th Amendment works both ways in the case of affirmative action; race cannot be the only factor in the admissions process.

    2012 – National Federation of Independent Business et al v. Sebelius, Secretary of Health and Human Services et al

    Situation: The constitutionality of the sweeping health care reform law championed by President Barack Obama.

    The Court voted 5-4 in favor of upholding the Affordable Care Act.

    Historical significance: The ruling upholds the law’s central provision – a requirement that all people have health insurance or pay a penalty.

    2013 – United States v. Windsor
    This decision ruled that the Defense of Marriage Act, which defined the term “marriage” under federal law as a “legal union between one man and one woman” deprived same-sex couples who are legally married under state laws of their Fifth Amendment rights to equal protection under federal law.

    Situation: Edith Windsor and Thea Spyer were married in Toronto in 2007. Their marriage was recognized by New York state, where they lived. Upon Spyer’s death in 2009, Windsor was forced to pay $363,000 in estate taxes, because their marriage was not recognized by federal law.

    The court voted 5-4 in favor of Windsor.

    Historical significance: The court strikes down section 3 of the Defense of Marriage Act, ruling that legally married same-sex couples are entitled to federal benefits.

    2015 – King et al, v. Burwell, Secretary of Health and Human Services, et al

    Situation: This case was about determining whether or not the portion of the Affordable Care Act which says subsidies would be available only to those who purchase insurance on exchanges “established by the state” referred to the individual states.

    The Court ruled 6-3 in favor of upholding the Affordable Care Act subsidies.

    Historical significance: The court rules that the Affordable Care Act federal tax credits for eligible Americans are available in all 50 states, regardless of whether the states have their own health care exchanges.

    2015 – Obergefell et al, v. Hodges, Director, Ohio Department of Health, et al.

    Situation: Multiple lower courts had struck down state same-sex marriage bans. There were 37 states allowing gay marriage before the issue went to the Supreme Court.

    The Court ruled 5-4 in favor of Obergefell et al.

    Historical significance: The court rules that states cannot ban same-sex marriage and must recognize lawful marriages performed out of state.

    2016 – Fisher v. University of Texas

    Situation: Abigail Fisher sued the University of Texas after her admission application was rejected in 2008. She claimed it was because she is white and that she was being treated differently than some less-qualified minority students who were accepted. In 2013 the Supreme Court sent the case back to the lower courts for further review.

    The Court ruled 4-3 in favor of the University of Texas. Justice Elena Kagan recused herself from the case, presumably because she dealt with it in her previous job as solicitor general.

    Historical Significance: The court rules that taking race into consideration as one factor of admission is constitutional.

    2020 – Bostock v. Clayton County, Georgia

    Situation: Gerald Bostock filed a lawsuit against Clayton County for discrimination based on his sexual orientation after he was terminated for “conduct unbecoming of its employees,” shortly after he began participating in a gay softball league. Two other consolidated cases were also argued on the same day.

    The 6-3 opinion in favor of the plaintiff, written by Justice Neil Gorsuch and joined by Chief Justice John Roberts, states that being fired “merely for being gay or transgender violates Title VII” of the Civil Rights Act of 1964.

    Historical Significance: Federal anti-bias law now protects people who face job loss and/or discrimination based on their sexual orientation or gender identity.

    2022 – Dobbs v. Jackson Women’s Health Organization

    Situation: Mississippi’s Gestational Age Act, passed in 2018 and which greatly restricts abortion after 15 weeks, is blocked by two federal courts, holding that it is in direct violation of Supreme Court precedent legalizing abortion nationwide prior to viability, which can occur at around 23-24 weeks of pregnancy, and that in an “unbroken line dating to Roe v. Wade, the Supreme Court’s abortion cases have established (and affirmed and re-affirmed) a woman’s right to choose an abortion before viability.” The court said states may “regulate abortion procedures prior to viability” so long as they do not ban abortion. “The law at issue is a ban,” the court held. 

    Mississippi appeals the decision to the Supreme Court.

    The 6-3 opinion in favor of the plaintiff, written by Justice Samuel Alito states that “Roe was egregiously wrong from the start…Its reasoning was exceptionally weak, and the decision has had damaging consequences. And far from bringing about a national settlement of the abortion issue, Roe and Casey have enflamed debate and deepened division.”

    In a joint dissenting opinion, Justices Stephen Breyer, Sonia Sotomayor and Elena Kagan heavily criticized the majority, closing: “With sorrow – for this Court, but more, for the many millions of American women who have today lost a fundamental constitutional protection – we dissent.”

    Historical Significance: The ruling overturns Roe v. Wade and there is no longer a federal constitutional right to an abortion, leaving abortion rights to be determined by states.

    1944 – Korematsu v. United States – The Court ruled Executive Order 9066, internment of Japanese citizens during World War II, is legal, 6-3 for the United States.

    1961 – Mapp v. Ohio – “Fruit of the poisonous tree,” evidence obtained through an illegal search, cannot be used at trial, 6-3 for Mapp.

    1967 – Loving v. Virginia – Prohibition against interracial marriage was ruled unconstitutional, 9-0 for Loving.

    1968 – Terry v. Ohio – Stop and frisk, under certain circumstances, does not violate the Constitution. The Court upholds Terry’s conviction and rules 8-1 that it is not unconstitutional for police to stop and frisk individuals without probable cause for an arrest if they have a reasonable suspicion that a crime has or is about to occur.

    2008 – District of Columbia v. Heller – The Second Amendment does protect the individual’s right to bear arms, 5-4 for Heller.

    2010 – Citizens United v. FEC – The Court rules corporations can contribute to PACs under the First Amendment’s right to free speech, 5-4 for Citizens United.

    2023 – Students for Fair Admissions v. Harvard together with Students for Fair Admissions v. University of North Carolina – Colleges and universities can no longer take race into consideration as a specific basis in admissions. The majority opinion, written by Justice John Roberts, claims the court is not expressly overturning prior cases authorizing race-based affirmative action and suggests that how race has affected an applicant’s life can still be part of how their application is considered.

    2024 – Donald J. Trump v. Norma Anderson, et al – The Court rules former President Donald Trump should appear on the ballot in Colorado in a decision that follows months of debate over whether Trump violated the “insurrectionist clause” included in the 14th Amendment.

    [ad_2]

    Source link

  • Say What? Atlanta Restaurant Goes Viral After Adding Health Insurance Charge To Customers' Bills

    Say What? Atlanta Restaurant Goes Viral After Adding Health Insurance Charge To Customers' Bills

    [ad_1]

    A restaurant in Atlanta, Georgia has gone viral after adding a health insurance fee to patrons’ bills. According to the Daily Mail, the establishment is now receiving threats via social media.

    RELATED: Restaurant Goes Viral For Adding “Loud Kids” Fee To Customer’s Bill

    More Details Regarding The Atlanta Restaurant & Why It Went Viral

    On Thursday, January 4, an account with the handle @GAFollowers took to X, formerly known as Twitter, to share a photo of a receipt. The bill was from a family-owned fusion restaurant called JenChan’s.

    Furthermore, the receipt showed a subtotal charge of $50.50 with a $4.49 sales tax charge. However, it also included an additional fee — a “Health Insurance” charge of $2.02.

    The bottom of the receipt featured a note explaining that the health insurance charge is calculated at four percent of the patrons’ subtotal. Additionally, the text explained why the establishment had employed the additional charge.

    “The small percentage does not cover everything but it does allow us to offer ALL of our full time employees health insurance,” the text read. “Our industry is an incredibly difficult one to survive in, the small charge affords our staff the ability to go to the doctor for mental or physical ailments they may face. Thank you for your understanding.”

    Social Media Reacts

    Over the past five days, the tweet has received over 467,000 views and prompted many mixed responses from social media users.

    The Restaurant’s Health Insurance Charge Is Reportedly Optional

    As X users shared their reactions, one with the handle @desota shared that the health insurance charge should be optional for patrons. 

    Then, a second X user, @xKALeeds, hopped in to confirm that the health insurance fee is optional.

    According to Daily Mail, the X user’s claim is correct. JenChan’s reportedly disclosed the optional charge on its menu, outside the establishment, and on the receipt — presumably in a location not pictured in the above viral photo.

    “On your receipt, you will notice 4% health insurance we implemented after our premiums more than tripled last year…

    Please know that we will be more than happy to remove this for you without hesitation,” the restaurant’s disclosure message reportedly reads.

    The outlet adds that outside of the commentary the restaurant has sparked on X, they’ve also received threats from patrons on Facebook.

    “I’ve never seen a family that needs to be beaten up more; make that healthcare come in handy,” one person allegedly wrote on the company’s Facebook page, per Daily Mail.

    However, the restaurant’s owner, Emily Chan, is committed to drawing attention to the “huge crisis going on with healthcare.”

    “We feel like there’s a pretty huge crisis going on with health insurance. No one can afford it. Nothing has worked,” she explained. “

    We just felt like if we put it as a line item, then it would highlight that there’s an issue here, and we need to pay attention to it.”

    According to Fox 10 News, Chan is “not changing a thing” despite the backlash.

    “Not changing a thing. The only thing I would change is if Congress does something, then I can just take that line item off completely and not even worry about it,” she said.

    RELATED: Viral KFC Manager Reveals The Dangers Against Restaurant Workers | TSR Investigates

    [ad_2]

    Jadriena Solomon

    Source link

  • The new CDCP: Here’s when seniors can apply for the federal government’s dental plan – MoneySense

    The new CDCP: Here’s when seniors can apply for the federal government’s dental plan – MoneySense

    [ad_1]

    “Far too many people have avoided getting the care that they need simply because it was too expensive, and that’s why this plan is essential,” Mark Holland, the federal health minister, said at a press conference on Dec. 11, 2023. He also noted that the plan is “going to help make life better for eligible Canadian residents because they won’t have to make the choice between paying their bills and getting the care that they absolutely need.”

    The plan will cost $13 billion over the next five years, and $4.4 billion annually in subsequent years.

    When can you apply for the federal dental plan for seniors?

    The government has announced that application dates for the CDCP will be rolled out gradually. According to its website, it will mail letters to potentially eligible seniors aged 87 and older in mid-December; ages 77 to 86 in January 2024; ages 72 to 76 in February 2024; and ages 70 to 71 in March 2024. The letters will contain a personalized application code and instructions to call Service Canada and apply by phone.

    Letters will only go out to those who had an adjusted family net income of less than $90,000 in 2022, based on their tax return for that year, and they will be mailed to the address used in that tax return. (Haven’t filed your 2022 taxes? It’s a good time to catch up!) There’s no information yet on what to do if you think you qualify for the CDCP but don’t receive a letter, but you could try calling a CDCP representative at 1-833-537-4342. And if your address has changed, contact the Canada Revenue Agency to ensure its records are up to date.

    Starting in May 2024, potentially eligible Canadians aged 65 to 69, and those aged 70 and up who received a letter but could not apply by phone, can apply for the CDCP online. Those who are approved for the CDCP will be enrolled in the program by Sun Life, the service provider that has been contracted to manage the dental plan. 

    When can other eligible Canadians apply for the federal dental care plan?

    For children under age 12, applications for the Canada Dental Benefit are open until June 30, 2024—here’s how to apply

    The government will start accepting CDCP applications for children under 18 and adults who have a valid disability tax credit certificate starting in June 2024. All other eligible Canadians can apply in 2025.

    Who qualifies for the Canadian Dental Care Plan?

    To qualify for the CDCP, the government says that you must:

    [ad_2]

    Jaclyn Law

    Source link

  • Why Biden Should Shift the Debate to This Topic

    Why Biden Should Shift the Debate to This Topic

    [ad_1]

    President Joe Biden and Democrats cannot win the debate over the economy without fundamentally reframing the terms of the choice they are offering voters, an extensive new research study by one of the party’s prominent electoral-strategy groups has concluded.

    The study, scheduled to be released today, seeks to mitigate one of the party’s most glaring vulnerabilities heading into the 2024 election: the consistent finding in surveys that when it comes to managing the national economy or addressing inflation, significantly more voters express confidence in Republicans than in Democrats.

    To close that gap, the study argues, Biden and Democrats must shift the debate from which party is best equipped to grow the overall economy to which side can help families achieve what the report calls a “better life.” The study argues that Democrats can win that argument with a three-pronged message centered on: delivering tangible kitchen-table economic benefits (such as increased federal subsidies for buying health insurance), confronting powerful special interests (such as major corporations), and pledging to protect key personal liberties and freedoms, led by the right to legal abortion.

    The study was conducted by Way to Win, a group that provides funding for candidates and organizations focused on mobilizing voters of color, in conjunction with Anat Shenker-Osorio, a message consultant for progressive candidates and causes. Last year, Way to Win was among the top advocates pushing the party to stress a message of protecting personal freedoms and democracy—an approach that helped Democrats overperform expectations despite widespread discontent about the economy.

    Reversing the advantage Donald Trump and the GOP have on the economy will require Democrats to highlight “the tangible improvements their policies have made in people’s lives, in lieu of speaking of abstract economic gains, as well as touting their future agenda of expanding on these gains, taking on corporate greed and the MAGA Republicans who aim to rule only for the wealthy few,” concludes a memo summarizing the research that was provided exclusively to The Atlantic.

    Based on months of polls, focus groups, and other public-opinion research, the study comes amid simmering Democratic anxieties over national and swing-state surveys showing Trump leading Biden. Especially frustrating for the White House and other Democrats has been the persistence and pervasiveness of negative public attitudes about the economy, despite robust economic growth, low unemployment, and a huge reduction in the inflation rate over the past year. Democrats were particularly unnerved by a recent survey from Democracy Corps, a group founded by the longtime party strategists James Carville and Stanley B. Greenberg, that found that voters in the key swing states gave Trump a retrospective job-approval rating for his performance as president nearly 10 percentage points higher than what they give Biden for his current performance.

    Biden has spent months trying to highlight positive trends in the economy by describing them under the rubric of “Bidenomics.” But the Way to Win study, like the Democracy Corps research, argues that it is counterproductive for the administration to try to convince voters that inflation is abating or that the economy is improving while so many are struggling to make ends meet. Telling voters that “inflation is going down [produced a] backlash” in the research, Jenifer Fernandez Ancona, Way to Win’s senior vice president, told me: “Their experience is that it’s up. If you make an overarching statement that things are getting better, it rubs people the wrong way.”

    Probably the key insight in the report is the contention that it’s a mistake for Democrats to focus the 2024 debate on any of the broad national trends in the economy, including those that have been positive under Biden, such as job growth.

    For many years, the report argues, voters have been inclined to believe that Republicans are better than Democrats at managing the overall economy—an advantage that may be especially pronounced for Trump, a former business mogul, if he’s the GOP nominee. But, the study found, swing voters, as well as the irregular voters the party needs to turn out in 2024, give Democrats an edge on which party can best deliver for “you and your family’s economic well-being.”

    “If the argument is who [handles] the economy best, even though it’s not true in any sense, that’s their brand advantage,” Shenker-Osorio told me. “If the question is who is going to create the best future for your family, that is a Democratic-brand advantage. That is a story we can tell. It’s a credible story, and it’s a story that people care more about.”

    To shift the debate into this more favorable terrain, the report argues, Biden and other Democrats must simultaneously reorient their economic arguments in opposite directions. The group argues that Democrats must narrow their focus by talking less about macroeconomic trends and more about specific policies they have enacted to help families make ends meet. That includes policies that Biden has passed to lower prescription-drug and utility costs, and policies he could promote in a second term, such as restoring the expanded child tax credit that Democratic Senator Joe Manchin of West Virginia stripped from the Inflation Reduction Act last year.

    “Among both swing voters and surge voters, folks are moved more by talking about tangible gains than by talking about growing the economy,” Shenker-Osario said.

    Simultaneously, the report argues that Democrats must link their economic agenda to a broader promise to defend voters against an array of forces threatening their ability to succeed. In its research, the group found that the strongest case for Democrats blended pledges to deliver concrete economic benefits with promises to defend fundamental rights and stand up to big, wealthy corporations.

    Across all of these fronts, Fernandez Ancona argues, the key for Democrats is not just to warn about what a second Trump term could mean but to give voters a positive vision that emphasizes their success at stopping him and the prospect that reelecting Biden could deliver measurable benefits. “We really believe we can’t just rely on telling people the bad things,” Fernandez Ancona said.

    Key results in the 2022 election offer Democrats some reason for optimism that the approach urged by Way to Win can succeed. In the five swing states most likely to decide the 2024 presidential race, Democrats won seven of the nine Senate and gubernatorial races in 2022, primarily around variations on the themes that Way to Win wants the party to stress next year.

    The range of problems confronting Biden, such as doubts about his age and capacity, can’t all be resolved by recalibrating his message. Fernandez Ancona doesn’t pretend otherwise. But she argues that a more precisely targeted message will provide Biden the best chance of maximizing his support whatever the background environment looks like next year. “We can’t control what conditions are,” she told me. “Messaging can’t solve all problems. But it does do something to paint the path forward and make sure that voters go into the booth knowing what the stakes are.”

    With Trump looming as the likely GOP nominee, Democratic strategists at this point may have greater consensus about the stakes in 2024 than the path forward for the party. The sheer proliferation of studies proposing a new approach for Biden may be the most telling measure of how much more difficult this election looks than Democrats once anticipated.

    [ad_2]

    Ronald Brownstein

    Source link

  • The top 10 things to watch in the stock market Monday

    The top 10 things to watch in the stock market Monday

    [ad_1]

    The top 10 things to watch Monday, Dec. 11

    1. U.S. stocks are muted Monday following last week’s push to a new 52-week high in the S&P 500, helped by a stronger-than-expected jobs report Friday. Good economic news is good news for the stock market, for now, with investors looking ahead to Tuesday’s consumer price index report. But we’ll learn what the Federal Reserve makes of the state of the labor market and inflation when the central bank convenes this week for its final meeting of the year.

    2. Bank stocks like Club name Wells Fargo became “extraordinary performers” last week, according to Jim Cramer’s Sunday column. “The percentage gains for bank shares and the pretty stock charts, all wondrous, look like they are in their infancy,” he writes.

    3. Health insurer Cigna abandons its pursuit to acquire Club holding Humana — a deal that was misguided from the start because it never would have received regulatory approval. Cigna announces a new $10 billion stock buyback. And shares of Humana rally roughly 2% in premarket trading.

    4. Occidental Petroleum announces plans to buy privately held CrownRock for $12 billion in cash and stock, while raising its quarterly dividend by 4 cents, to 22 cents per share. Before the deal announcement, Morgan Stanley had upgraded Occidental to overweight from equal weight, with an unchanged price target of $68 a share.

    5. More analysts are warming up to energy stocks after last week’s carnage. Citi upgrades Club holding Coterra Energy, along with EQT and Southwestern Energy, to a buy. Coterra is the firm’s top large cap pick, with a $30-per-share price target based on capital-efficiency improvements.

    6. Goldman Sachs upgrades Abbvie to buy from neutral, with a $173-per-share price target. The firm cites revenue that has proved more resilient than expected, along with the drug maker’s recent deployment of capital to build out its pipeline. Over the past two weeks, Abbvie has shelled out nearly $20 billion in cash to acquire ImmunoGen and Cerevel Therapeutics.

    7. JPMorgan raises its price targets on a handful of cybersecurity stocks, including CrowdStrike (to $269 a share from $230), Club name Palo Alto Networks ($326 from $272) and Zscaler ($212 from $200).

    8. Citi upgrades Nike to buy from neutral, while raising its price target on the stock to $135 a share, up from $100. The firm sees margin recovery beginning in the second quarter of next year through 2025, helped by easing freight costs, leaner inventories and a shift to direct-to-consumer.

    9. Jefferies upgrades Best Buy to buy from hold, while raising its price target to $89 a share, up from $69. Analysts at the bank think this call won’t take much to work, with expectations low and the stock cheap and yielding a 5% dividend.

    10. Citi resumes coverage of Club holding Broadcom with a buy rating and $1,100-a-share price target. The firm sees the chipmaker’s artificial-intelligence business offsetting the cyclical downturn in the semiconductor business, along with strong accretion from its recent acquisition of VMware. We thought the company reported a better quarter last Thursday than what the market gave it credit for. 

    (See here for a full list of the stocks at Jim Cramer’s Charitable Trust.)

    What Investing Club members are reading right now

    As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

    THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, TOGETHER WITH OUR DISCLAIMER.  NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.  NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.

    [ad_2]

    Source link