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☆ A 31-year-old millionaire who has 7 different types of investment accounts says that his HSA is 'my favorite by far' — and explains how he's using it to build long-term wealth
▼ + stars: | 2023-07-16 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

Of all of his different types of accounts, his favorite is his health savings account (HSA). He and Erin, who own their primary residence in Texas outright, owe $12,000 in property taxes each year, so they send $1,000 a month to a high-yield savings account to cover that expense. High-yield savings accounts, which earn multiple times more than a traditional savings account, typically return between 3.40% APY and 4.25% APY. (That's if you're under 65; after 65, you can use your HSA money to cover any expense without incurring a penalty.) HSA accounts, unlike FSAs (flexible spending accounts, which are another type of account that can help with health care costs) don't have a "use it or lose it" policy.

Persons: Brennan Schlagbaum, Erin, Brennan, Schlagbaum, Erin Schlagbaum, Dravet, It's Locations: IRAs, Texas

☆ Diners are shocked to see a 4% 'employee healthcare' fee on their bills at an LA restaurant — but the owner says it's common
▼ + stars: | 2023-07-07 | by ( Nancy Luna | ) www.businessinsider.com time to read: +7 min

Diners are increasingly noticing restaurant surcharges. A Los Angeles eatery received blowback after a diner tweeted about its 4% healthcare surcharge. Some questioned if the owner would cancel an employee's health insurance on a slow night. If the restaurant has a slow day or u opt-out, do staff not get health insurance that day?" "As most LA diners will know, Alimento's 4% healthcare surcharge is hardly unique," he wrote.

Persons: Dave Anthony, Mr Dave Anthony, Lord, Anthony, Alimento, Zach Pollack, Instagram, Pollack, Condie, surcharges, Vinny's Organizations: Industry, Service, Twitter, Affordable, ACA, California Restaurant Association, Restaurant Association, Jon, Daily Mail, CRA Locations: Los Angeles, Wall, Silicon, Italian, Silver Lake, North America, California, San Francisco, Dallas

☆ Biden wants to roll back Trump’s expansion of short-term health insurance plans
▼ + stars: | 2023-07-07 | by ( Tami Luhby | ) edition.cnn.com time to read: +5 min

CNN —The Biden administration wants to crack down on short-term health insurance plans, which it says can leave patients saddled with hefty medical bills. The proposal would largely reverse former President Donald Trump’s expansion of short-term plans in 2018, which extended the duration of the policies to just under a year and allowed them to be renewed for a total of up to 36 months. Short-term plans do not have to adhere to Obamacare’s consumer protections. The Trump administration heralded them as a cheaper alternative to Affordable Care Act policies since the limits on benefits allow short-term plans to carry lower premiums. Also, the Biden administration announced new guidance to strengthen rules protecting patients from surprise medical billing.

Persons: CNN —, Biden, Donald Trump’s, Trump, Neera Tanden, Joe Biden, ” Rohit Chopra Organizations: CNN, Affordable, Biden, House, of Health, Human Services, Treasury Department, Consumer Financial, Bureau, “

☆ Hepatitis C cure is not reaching overwhelming majority of patients due to financial barriers
▼ + stars: | 2023-06-29 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Hepatitis C is often referred to as the silent killer because the initial infection has few to no symptoms. Overtime, however, the virus can cause liver damage, liver cancer, liver failure and ultimately death. These pills, taken once a day for eight to 12 weeks, cure more than 95% of hepatitis C cases. Hepatitis C contributed to the deaths of nearly 15,000 people in 2020, according to the CDC. The Biden administration has asked Congress to approve $11 billion in funding for a national program to eliminate hepatitis C by 2030.

Persons: Dr, Jonathan Mermin, Biden, Francis Collins Organizations: Gilead Sciences, U.S ., Centers for Disease Control, Health, CDC, White Locations: U.S

☆ Leaked messages show angry employees roasting Microsoft CEO Satya Nadella after he thanked the troops for a 'landmark' fiscal year
▼ + stars: | 2023-06-29 | by ( Ashley Stewart | Julie Bort | ) www.businessinsider.com time to read: +3 min

Microsoft CEO Satya Nadella posted a thank-you note to the troops on Wednesday. In light of all of this, CEO Satya Nadella took to Microsoft's internal message boards on Wednesday to thank the troops, in a message viewed by Insider. But a number of employees reacted to Nadella's thank-you note with salty messages, according to internal posts seen by Insider. Another message, also upvoted by over 100 people, wrote, "Here employees take pay cuts as our company and leadership make record profits. As we previously reported, a recent internal Microsoft poll showed that more Microsoft employees say they would leave if they got another comparable offer.

Persons: Satya Nadella, he's, It's, Ashley Stewart Organizations: Microsoft, Activision

☆ American companies are draining their cash at the dumbest possible time
▼ + stars: | 2023-06-28 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Companies are sitting on a lot less cash than they were last year, largely because they’re spending it on share buybacks and corporate dividends. What’s happening: A new report from Moody’s Investors Service finds that nonfinancial companies’ corporate cash declined 12% last year to $2 trillion. But debt was flat year over year, meaning that companies didn’t use much of their cash reserves to pay down outstanding loans. Now that it’s more expensive to borrow, companies in the US should reconsider the amount of money they’re spending on buybacks, he added. Preventing companies from repurchasing their own shares, they argue, would free corporate cash to invest in growth and raise wages instead.

Persons: Emile El Nems, ”, Ben Lofthouse, Janus Henderson, ” El Nems, Joe Biden, buybacks, “, Brian Moynihan, Moynihan, CNN’s Poppy Harlow, Nathaniel Meyersohn, That’s Organizations: CNN Business, Bell, New York CNN — Companies, Moody’s Investors Service, Moody’s, Federal Reserve, Bank of America, Corporations, ”, CNN, Commerce Department, UBS Locations: New York, buybacks

☆ Pickleball injuries may cost Americans nearly $400 million this year
▼ + stars: | 2023-06-27 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +1 min

Pickleball injuries may cost Americans $377 million in health care costs this year, accounting for 5% to 10% of total unexpected medical costs, UBS analysts estimated in a report Monday. From 2010-2019, 86% of emergency department visits due to pickleball injuries occurred in people over 60 years old, according to the medical study. Around 60% of pickleball injuries are sprains, strains and fractures. The analysts estimated that there will be around 67,000 emergency room visits, 366,000 outpatient visits and 9,000 outpatient surgeries related to pickleball injuries this year. According to the Sports and Fitness Industry Association trade group, pickleball has grown from 3.5 million players in 2019 to 8.9 million in 2022.

Persons: New York CNN —, Pickleball Organizations: New, New York CNN, UBS, Sports, Fitness Industry Association Locations: New York

☆ Drugmakers aim to strike down Medicare drug-price negotiations at Supreme Court
▼ + stars: | 2023-06-20 | by ( Spencer Kimball | ) www.cnbc.com time to read: +10 min

And Bristol Myers Squibb is trying protect its blood thinner Eliquis, which brought in $11.8 billion in sales last year, or about 25% of the company's $46 billion total revenue for 2022. Long legal battle aheadMerck, the chamber and Bristol Myers Squibb filed their lawsuits ahead of two key deadlines. Bristol Myers Squibb did not either. If circuit court decisions on the matter contradict one another, the Supreme Court would step in to decide the issue, Bagby said. Bristol Myers Squibb made an identical argument in its complaint.

Persons: Richard A, Gonzalez, Pascal Soriot, Giovanni Caforio, Jennifer Taubert, Johnson, Kenneth C, Frazier, Albert Bourla, Olivier Brandicourt, Win Mcnamee, Drugmaker Merck, Drugmaker, Bristol Myers Squibb, PhRMA, Eli Lilly, Merck, Bristol Myers, Robin Feldman, Nicholas Bagley, Bagley, Gretchen Whitmer, Chris Meekins, Raymond James, Antonin Scalia, Brett Kavanaugh, Neil Gorsuch, Meekins, Long, Xavier Becerra, Randolph Daniel Moss, Barack Obama, Judge Thomas M, Rose, George W, Bush, Kelly Bagby, Bagby, Amgen, Donald Trump, Karine Jean, Pierre, Biden, Jean, we'll, Becerra, Feldman Organizations: Senate, AbbVie Inc, AstraZeneca, Myers Squibb Co, Janssen Pharmaceuticals, Johnson, Merck & Co, Inc, Pfizer, Sanofi, Getty, U.S . Chamber of Commerce, Bristol Myers Squibb, Washington , D.C, Southern, Southern District of, Democratic Party, U.S, Merck, Bristol, Pharmaceutical Research, Manufacturers of America, CNBC, Medicare, University of California College of, Justice Department, Michigan Gov, Bristol Myers, Human Services, Centers, Services, AARP Foundation, HHS, AARP, Specialty Pharmacy, Reuters, Supreme, Appeals, Democratic, U.S . Sixth, Republican, Third, White Locations: America, Washington , DC, Bristol, U.S, Washington ,, Southern District, Southern District of Ohio, New Jersey, Commerce's Dayton , Ohio, San Francisco

☆ It’s Not Just You: Many Americans Face Insurance Obstacles Over Medical Care and Bills
▼ + stars: | 2023-06-15 | by ( Reed Abelson | ) www.nytimes.com time to read: +3 min

The NewsA majority of Americans with health insurance said they had encountered obstacles to coverage, including denied medical care, higher bills and a dearth of doctors in their plans, according to a new survey from KFF, a nonprofit health research group. Those who were most likely to need medical care — people who described themselves as in fair or poor health — reported more trouble; three-fourths of those receiving mental health treatment experienced problems. The survey also underscored the persistent problem of affordability as people struggled to pay their share of health care costs. Among the nearly 60 percent who reported difficulty with their insurance coverage, 15 percent said their health had declined. Background: Insurance coverage is confusing to everyone.

Persons: ”, Drew Altman, Karen Pollitz, Amanda Parente Organizations: Kaiser Family Foundation Locations: KFF, Nashville

Here's the latest:ELECTRIC VEHICLE FRICTIONBiden's domestic policy is embodied in working to electrify roadways across the United States. Getting more electric vehicles on the roads is central to his climate change agenda, ensuring the vehicles are "Made in America" is part of his commitment to restore manufacturing jobs. But the IRA's consumer tax credits are tightly linked to the cars' and batteries being made in the U.S., roiling allies in Europe and Asia whose companies sell into U.S. markets. Instead, Japanese and U.S. officials struck a trade deal on electric vehicle battery minerals that expands eligibility for the $7,500 per vehicle EV tax credits in the IRA. NEW RACE FOR SUBSIDIESThe promise of corporate tax credits has renewed interest in investing in the U.S., and Europe has responded with subsidies of their own.

☆ Debt ceiling threat: Time to take this political football off the field
▼ + stars: | 2023-05-17 | by ( Christine Romans | ) edition.cnn.com time to read: +5 min

In theory, the debt ceiling should act as a fiscal restraint during the budgeting process. Deciding later not to pay the bills by not raising the debt ceiling is not sound fiscal policy. Federal Reserve Chairman Jerome Powell, a Republican, has said the debt ceiling is counterproductive. And the CEO of the nation’s biggest bank, JPMorgan Chase’s Jamie Dimon turns visibly frustrated at the subject of the debt ceiling. KPMG Chief Economist Diane Swonk says the politicization of the debt ceiling has weakened America.

☆ Why fighting the urge to sleep may be bad for our health
▼ + stars: | 2023-04-07 | by ( ) www.reuters.com time to read: +17 min

What happens when we sleep Sleep itself has cycles, in which the brain and body move through phases, marked by varying brain activity. Moving into REM sleep A region in the upper brainstem kickstarts the move into REM sleep. Waking up After cycling through non-REM and REM sleep around 4 to 5 times, the basal forebrain and other structures receive signals to start exiting sleep. Then we transition back to lighter sleep, into REM sleep and back down again, and so on until we wake up. Tips for better sleep Good sleep habits can contribute to better sleep, studies have found.

Chart showing the percentage cut the committee would make to each area of government spending to balance the budget over 10 years. 8 8 8 Deficit 6 6 6 4 4 4 Spending Spending Spending Revenue Revenue Revenue 2 2 2 2023 2033 2023 2033 2023 2033 Current projections Deficits are projected to grow to $2.7 trillion by 2033. 8 8 8 Deficit 6 6 6 4 4 4 Spending Spending Spending Revenue Revenue Revenue 2 2 2 2023 2033 2023 2033 2023 2033 Eliminate by increasing taxes Current projections Eliminate by cutting spending Deficits are projected to grow to $2.7 trillion by 2033. plan to balance budget 50% Projections 1920 1930 1940 1950 1960 1970 1980 1990 2000 2010 2020 2030 2040 2050 Current trajectory 200% of G.D.P. plan to balance budget 50% Projections 1930 1960 1990 2020 2050 Sources: Committee for a Responsible Federal Budget; Congressional Budget Office; Republican Study Committee Note: Both plans were released in 2022 and are based on outdated baseline projections; their debt reduction may differ modestly.

☆ Biden says other companies will slash insulin prices after Eli Lilly move
▼ + stars: | 2023-03-01 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +1 min

BALTIMORE, March 1 (Reuters) - U.S. President Joe Biden said on Wednesday that other pharmaceutical companies will have to lower their insulin prices in the wake of Eli Lilly's decision to slash its prices for the popular diabetes treatment. Eli Lilly (LLY.N) said on Wednesday it will cut list prices by 70% for its most commonly prescribed insulin products, Humalog and Humulin, beginning from the fourth quarter of this year. U.S. President Joe Biden discusses health care costs and access to affordable health care during an event in Virginia Beach, Virginia, U.S., February 28, 2023. REUTERS/Leah Millis"Guess what that means?," Biden told Democrats gathered in Baltimore for an annual retreat. Biden’s signature legislative achievement, the Inflation Reduction Act, has capped insulin prices for Medicare recipients at $35 per month but the law does not extend to patients with private insurance or without insurance from higher prices.

☆ Robocallers are preying on the elderly with fake Medicare calls. It's a no-brainer to stop it, but nobody has.
▼ + stars: | 2023-02-06 | by ( Madison Hall | ) www.businessinsider.com time to read: +7 min

These honeypots comprise only a sliver of the total number of US phone numbers but provide valuable insights into how robocalling scams operate. Every day, the honeypot numbers get inundated with calls from scammers purporting to be from Medicare. Many of those calls spoof the services' "1-800-MEDICARE" (1-800-633-4227) hotline in the phone's caller ID. "Many seniors are targeted by scammers who want to steal their Medicare numbers to do things like rack up fake health care charges and commit identify theft," the representative said. With this in mind, it's unclear why the Centers for Medicare & Medicaid Services use the phone line for both outbound and inbound calls.

☆ A booming market for gear to help seniors grow older at home is creating an opportunity for investors
▼ + stars: | 2023-01-21 | by ( Michelle Fox | ) www.cnbc.com time to read: +13 min

Alphabet, Amazon and Best Buy are among the fund's plays on the aging in place theme. Best Buy breaks into the space It's Best Buy that has really been doubling down on its efforts to break into the space. Best Buy sees the role of technology within health care becoming much more important. Medicare Advantage's health care at home coverage includes primary care, transitional care when someone is released from a hospital and often hospice care, she said. That should lead to higher earnings power, said Baker, who has a buy rating and $237 price target on Lowe's stock.

☆ NYC mayor cites slower economic growth spurred by high office vacancy, cost of migrant crisis and health care, in budget address
▼ + stars: | 2023-01-12 | by ( Mark Morales | ) edition.cnn.com time to read: +3 min

“We crafted this budget in the environment of economic and fiscal uncertainty. The increase in vacancies weakens the commercial office market, according to analysis from the preliminary budget. Rising health care costs and settling expired labor contracts are also listed as hurdles, according to the preliminary budget. Adams said that 88% of jobs lost during the pandemic have been recovered, according to the preliminary budget. The Adams administration also boasts $8.3 billion in budget reserves, according to the preliminary budget, which also looks ahead to investments in affordable housing addressing and environmental concerns.

The problem was the Neris had switched to a new, high-deductible health insurance plan to save money. The 2010 Affordable Care Act expanded access to health insurance, so companies were faced with covering more people than ever before. But the epinephrine auto-injectors — which deliver a shot of epinephrine and are the only emergency medicine available for life-threatening allergic reactions — usually are not. But AHIP (formerly known as America’s Health Insurance Plans), a group that represents such companies, said drug manufacturers are to blame. Fight it with your health care provider, fight it with your insurance company.”“No almost never means no in health insurance,” he said.

So if workplace weight loss programs don’t actually improve employee health — what is it they are attempting to do? And yet, workplace wellness programs that focus on weight loss and other fatphobic-related measures like BMI and fat percentage persist. There’s not much evidence to suggest these workplace weight loss programs even reduce costs. So we’re shaming fat folks, excluding people with disabilities and triggering those of us recovering from eating disorders for ... absolutely no reason at all. And any workplace wellness program that specifically incentivizes weight loss should be acknowledged as harmful and ended immediately.

How much does insulin cost? People with Type 1 diabetes need, on average, one to three vials of insulin per month, according to the American Diabetes Association. Patients with Type 2 diabetes don't always need to take insulin, but those who do can sometimes require more than people with Type 1 diabetes. Even people with what's considered good health insurance coverage can face steep costs in certain situations. In addition to insulin and insurance premiums, Gibson also must spend $550 every three months for glucose monitors and $1,100 for insulin pumps.

☆ We can help battle the ‘tripledemic’ with this commonsense solution
▼ + stars: | 2022-12-17 | by ( Molly Weston Williamson | ) www.nbcnews.com time to read: +5 min

Others should join them as the fight for federal paid sick time rights continues. Three years into a pandemic, nearly 1 in 4 private sector workers in the U.S. still don’t have a single paid sick day. Millions more do not have paid sick time to care for sick children. Paid sick time is also an investment in one of our most powerful tools to build up children’s fragile immune systems: vaccination. We must act now to ensure that everyone has the paid sick time they need for themselves and their families.

Participants who were offered cash incentives for either pounds lost or for completing certain activities were more likely to lose weight compared with those who were simply offered tools, such as diet books, fitness trackers and access to a weight loss program, the study found. On average, participants in the goal-directed group earned $440.44, as compared to $303.56 in the outcome-based group. “Even if less weight is lost, adopting lifelong physical activity or better eating habits may be more important,” she said. Kushner, who was not involved with the new study, agreed that low-income people face extra challenges when it comes to weight loss. What’s not clear, however, is how the strategy of offering cash for weight loss could be implemented in a real-world setting, outside of academia.

Both have highlighted policies that limit health care access in Georgia, such as its new six-week abortion ban and a decision by Republican Gov. Georgians have witnessed health services dwindle before and during the pandemic, straining the state’s medical system even as regional health care costs rise. Nearly half of Georgia’s 159 counties have no OB-GYN, according to the Georgia Board of Health Care Workforce. Some see the shutdowns as exacerbating racial disparities in health care access in Atlanta, where a 2018 Trulia analysis found 25.3 health care providers per 10,000 residents in the city’s majority-white census tracts, compared with 9.8 in majority-Black tracts. “I’m looking at somebody that is going to be for the community,” she says, “that’s going to help us with the health care — bring it closer to us.”

☆ Sen. Cory Booker says that Democratic party has a 'strong pathway' to control Senate despite recent polls
▼ + stars: | 2022-11-06 | by ( Taylor Ardrey | ) www.businessinsider.com time to read: +2 min

Cory Booker says that Democrats have a strong chance to control the Senate. "The reality is we still have a very strong pathway," Booker told ABC News. During an appearance on ABC's "This Week," host Martha Raddatz asked Booker about a recent FiveThirtyEight poll that predicts that Republicans have a 55% chance of taking control. "That this is the party at the end of the day that's trying to protect fundamental freedoms like the right to control your own body. So I think this a tough elections season ... but I still see a pathway for us to maintain control of the Senate."

☆ Americans now say they will need $1.25 million to retire comfortably, survey finds
▼ + stars: | 2022-10-25 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

Mstudioimages | E+ | Getty ImagesAmericans now expect they will need $1.25 million to retire comfortably, according to a new study from Northwestern Mutual. That's not necessarily good news for individuals who have seen their retirement savings decline in the past year amid persistent high inflation and market volatility. The average retirement nest egg has fallen 11% to $86,869, down from $98,800 a year ago, Northwestern Mutual's survey found. Why people plan to work longerA quarter of Northwestern Mutual's survey respondents — 25% — plan to retire later than they had anticipated. About a quarter, 26%, are taking care of relative or friend, and 24% have had to dip into retirement savings, 24%.

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