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☆ New York Has Regained Its Lost Jobs. Why Doesn’t It Feel That Way?
▼ + stars: | 2023-10-24 | by ( Stefanos Chen | More About Stefanos Chen | ) www.nytimes.com time to read: +1 min

New York’s job recovery has lagged behind other cities in part because the virus struck the city sooner, and vital industries, like hospitality and retail, remained closed longer and lost more jobs. The positions, mostly in clothing and department stores, paid an average of about $62,000 a year. In the same period, about 66,200 home health aid jobs were added, the most in any industry. Another 34,000 jobs were added in social services positions, which paid an average of $38,000. The third-fastest growing industry was management consulting, which paid an average $198,000, but only added 14,000 jobs to the economy, Dr. Parrott said.

Persons: haven’t, ”, Aaron Judge, “, Jobs, Parrott Organizations: Yankees, State Department of Labor Locations: New Yorker

☆ Millennials, Gen Z Mistakenly Bet on Inheritance From Boomer Parents
▼ + stars: | 2023-10-18 | by ( Ann C. Logue | ) www.businessinsider.com time to read: +14 min

When she died, Grandma Sue left the most common form of inheritance, called an accidental bequest, which is simply the money left over when someone dies. The New York Times reported on a coming inheritance wealth boom in 2023, 2019, 2014, 2008, and 1999. Even for families with incomes in the 51% to 90% range of earners, the average inheritance was $46,000 — hardly life-changing money. Researchers have been talking about the coming Great Wealth Transfer for at least a quarter of a century. But the reality is that all the wealth boomers are sitting on probably won't end up fixing our collective financial problems.

Persons: Grandma Sue, Grandma Sue's, —, Xers, Gen Zers, Xer, shouldn't, Edward Wolff of, Maury Gittleman, Wolff, Gittleman, Michael Bloomberg, Warren Buffett, Larry Ellison, Bill Gates, Isabel Sawhill, It's, Penn, there's, they're, Bank of America cardholders, Joseph Smith, haven't, boomer, Ann Logue Organizations: Social Security, Medicaid, Boomers, Federal Reserve, New York Times, Edward Wolff of New York University, US Bureau of Labor Statistics, Federal, Brookings Institution, University of Pennsylvania, Penn, Medicare, Family Foundation, Bank of America, Consumer, Department of, Northwestern Mutual, IRS Locations: Northwestern, Chicago

Andreswd | E+ | Getty ImagesMedicare beneficiaries have until Dec. 7 to change their Medicare health and prescription drug coverage for the coming year through open annual enrollment. Starting in 2024, people who face high prescription drug costs will not have to pay anything out of pocket once they hit the catastrophic phase of their benefits, she noted, thanks to new prescription drug legislation. Notably, Medicare beneficiaries who take insulin currently do not have to pay more than $35 per month for covered prescriptions. There are other reasons why Medicare beneficiaries should pay attention to the annual enrollment period this year. Medicare open enrollment is when beneficiaries can shop around for health plans or prescription drug coverage that better meet their needs.

Persons: Meena Seshamani, Seshamani, Darren Hotton, Hotton, that's, Catherine, There's Organizations: Getty, Center, Medicare, Centers, Services, National Council, Aging, Insurance, State Health Insurance Locations: Catherine Falls, Medicare.gov, ShipHelp.org, Utah

With lifespans longer and families more spread out, it's essential that I think about long-term care. Long-term care insurance comes in many forms at many costs. The days of an unmarried woman taking care of elderly relatives are a thing of the past, which is why long-term care insurance products are more popular. Long-term care insurance goes beyond the standard health care insurance policy. A long-term care insurance policy protects against the risk of having to pay out of pocket for in-home and/or out-of-home care services.

Persons: —, Robert Kircher, what's, What's Organizations: Service, Northwestern Mutual Insurance, Life Locations: United States, Massachusetts, Policygenius

☆ Medicare Part B standard premiums to increase by $9.80 per month in 2024
▼ + stars: | 2023-10-13 | by ( Lorie Konish | ) www.cnbc.com time to read: 1 min

The standard monthly premium for Medicare Part B will increase by $9.80 per month in 2024, according to the Centers for Medicare and Medicaid Services. That means the standard monthly premium will go up to $174.70 in 2024, an increase from $164.90 in 2023. The new rate is in line with previous projections by Medicare trustees, which had estimated a $174.80 standard monthly premium for next year. The annual deductible for Medicare Part B will be $240 in 2024, a $14 increase from the $226 annual deductible in 2023. Medicare Part B covers physician services, outpatient hospital services, some home health care services, durable medical equipment and certain other services not covered by Medicare Part A.

Organizations: Medicare, Centers, Services

☆ Year-end tax strategies may affect how much retirees pay for Medicare. Here's what to know
▼ + stars: | 2023-10-12 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

The change will result in an estimated Social Security retirement benefit increase of more than $50 per month, on average. The average monthly retirement benefit for workers will be $1,907, up from $1,848 this year, according to the Social Security Administration. "But remember, depending on your income, you may also be paying a lot more for Medicare," Franklin said. Medicare Part B premiums are based on incomeMedicare Part B covers physician services, outpatient hospital services, some home health care services, durable medical equipment and certain other services not covered by Medicare Part A. Medicare Part B premiums for 2024 have not yet been announced. This strategy may help reduce adjusted gross income and future Medicare premiums, Franklin said.

Persons: Mary Beth Franklin, Franklin, Roth Organizations: Social, Social Security Administration, Social Security, CNBC, Medicare Locations: Franklin

☆ Humana just tapped an Envision exec to be its next CEO as the insurance giant pushes deeper into clinics and home care
▼ + stars: | 2023-10-11 | by ( ) www.businessinsider.com time to read: +6 min

Humana CEO Bruce Broussard will step down next year after more than a decade leading the health-insurance giant. Humana has tapped Jim Rechtin, head of Envision Healthcare, to be its next CEO. Weaving together insurance benefits with care delivery is meant to make healthcare easier for people to navigate and improve patients' health, Broussard said. One example is Humana's recent push into behavioral healthcare, Broussard said. That startup will eventually become part of Humana, Broussard said.

Persons: Bruce Broussard, Jim Rechtin, Broussard, —, Rechtin, " Broussard, Rafael Henrique, Humana Organizations: Healthcare, Humana, Indiana's DePauw University, Harvard, Getty, Aetna, Oak Street Health, Iora, One, General Atlantic Locations: The Louisville , Kentucky, DaVita, Group's California, Kentucky, UnitedHealth

Here's a rundown of some of the largest strikes taking place in the U.S. today. 75,000 Kaiser Permanente workers walk off the jobPolitical Cartoons View All 1199 ImagesIn the health care sector, a major strike kicked off this week — with some 75,000 Kaiser Permanente workers walking off the job Wednesday in multiple states. Doctors are also not participating in the strike, and Kaiser said it was bringing in thousands of temporary workers. After five months on the picket lines, the writers strike was declared over after their union approved a contract agreement with studios last week. During the staggered strikes, workers have also called for solidarity and a boycott of hotels in the Los Angeles area.

Persons: — It's, isn't, Johnnie Kallas, Michelle Gaskill, Hames, Kaiser —, Kaiser, Ford, Shawn Fain, Fain, —, Hilton —, walkouts Organizations: Cornell University’s Labor, Kaiser Permanente, Strikers, The Coalition, Kaiser Permanente Unions, Kaiser, UAW, United Auto Workers, General Motors, Stellantis, Associated Press, Ford, U.S, Hollywood, American Federation of Television, Radio Artists, Alliance, Television Producers, Marriott, United, Biltmore, —, Westin Bonaventure Hotel Locations: U.S, Hollywood, California , Colorado , Oregon, Washington, Virginia, The Oakland , California, Southern California, Los Angeles, Orange, Biltmore Los Angeles

Watching my parents navigate their 80s made me think differently about long-term care insurance. My dad and stepmom bought long-term care insurance while they were in middle age and still without any medical problems. My stepdad was diagnosed with lymphoma and required 24-hour nursing care for several months after he first fell ill. Since they didn't have long-term care insurance, he and my mom had to pay out of pocket for home health care: approximately $10,000 per month. When my parents first needed care and support, I initially thought my husband and I were too old to qualify for long-term care insurance, but it turns out we aren't; many people seek out the insurance in their mid-50s to mid-60s.

Persons: —, stepmom, stepdad Organizations: Service, US Department of Health, Human Services, American, of Medicine Locations: United States, Policygenius

☆ Here's an exclusive look at the 17-slide presentation that startup Jude used to raise $4.24 million to help boomers who need bladder help
▼ + stars: | 2023-09-21 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +2 min

Move over, millennials: one startup founder is betting big that baby boomers are a largely untapped goldmine for discreet undergarments and supplements. With the seed funding, Jude plans to expand into the U.S., selling at the intersection of bladder care, senior healthcare, and women's health. The combination of healthcare, eldercare, and women's health proved to be crucial when Jude tried to line up investors. Take a look at the 17-slide presentation Jude used to raise $4.24 million in seed funding. Jude - healthcare brand for a new age JudeJudeJudeJudeJudeJudeJudeJudeJudeJudeJudeJudeJudeJudeJudeJude

Persons: Jude, Eka, Fiono Pathiraja, Christa Galli, Peony Li, Jude Jude Jude Jude Jude Jude Jude Jude Jude Jude Jude Jude Jude Jude Jude Jude Organizations: Christa Galli Ventures Locations: Samos, London, U.S

☆ Opinion | The Aging of America: Facing the Challenges
▼ + stars: | 2023-09-16 | by ( ) www.nytimes.com time to read: +1 min

To the Editor:“Can America Age Gracefully?” (Sunday Opinion, Sept. 10) powerfully illuminates how the increasing number of older adults in our country affects everyone, regardless of age, and that, as individuals and a society, we are in denial of our rapidly approaching future. Your editorial concludes by asking: “Is this a challenge we want to handle on our own? Or is it something that we as a society should confront together?”I would argue that the best answer is both. Ageism exists in all of us, and it shapes how we treat older people and how we expect to age. Eighty is not 60, but by being creative and open there are actions we can take to adapt to our new normal.

Persons: ”

☆ The CEO of Best Buy's home-healthcare unit shares how a new tech strategy will help grow the business
▼ + stars: | 2023-09-14 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +5 min

Best Buy has been digging into healthcare since 2018, focusing on virtual care and home health. The electronics retailer bought Current Health in 2021 for $400 million as part of that push. It's another example of Best Buy continuing to invest in its healthcare business despite falling retail sales. Best Buy, McGhee said, wants to support patients across the entire continuum of care without actually providing that medical care. "Best Buy is there as an enabler, the plumbing that allows care at home to happen."

Persons: Christopher McGhee, McGhee, hasn't, Matt Bilunas, It's Organizations: Health

☆ Here are the best high-paying and fast-growing jobs for the next decade
▼ + stars: | 2023-09-12 | by ( Madison Hoff | ) www.businessinsider.com time to read: +3 min

Insider looked at jobs with above-median pay that are expected to see growth. We analyzed both employment projections for 2022 to 2032 and May 2022 median annual wage data. Total employment is projected to grow by nearly 4.7 million over this 10-year period, a press release from the Bureau of Labor Statistics said. Advertisement Advertisement Watch: How tech layoffs could affect the economyFor our definition of jobs that pay well or are high-paying, we didn't just look at jobs that have a median of six figures. The Bureau of Labor Statistics has a few occupations that are catchall titles — with the wording of "all other."

Organizations: Software, Service, Bureau of Labor Statistics, BLS, Labor Statistics Locations: Wall, Silicon

Sisters Shelia Miller, Debbie Taylor and Daphne Taylor of the Washington, D.C., area care for their mother, Ernestine Taylor. Managing health-related and long-term care expenses is also a challenge. Still experts say taking these five steps can help prevent burnout and financial stress for many family caregivers. You may also qualify for a dependent care tax credit for a percentage of up to $3,000 in qualified care expenses for one person or $6,000 for two people. Find support from a group or care specialistEmotional stress and burnout can add to the financial strain of caregiving.

Persons: Daphne Taylor, Debbie Taylor, Shelia Miller, Miller, Daphne, Ernestine Taylor, Debbie, There's, Barry Glassman, Glassman, there's, —, Anne Sansevero, they've, Sansevero Organizations: AARP, D.C, Finance, CNBC FA, Wealth, Medicaid, American Council, U.S . Department of Veteran Affairs, Resource Center, Caregiving, Life Care, Istock, Getty Locations: Alexandria , Virginia, Washington ,, Washington, Vienna , Virginia, North Bethesda , Maryland, U.S, medicaidplanningassistance.org

☆ Jana Partners loaded up on little-known defense stocks in second quarter
▼ + stars: | 2023-08-15 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Barry Rosenstein's Jana Partners placed two new bets on defense and aerospace stocks in the second quarter, according to a 13F filing with the U.S. Securities and Exchange Commission . Among Jana's other notable moves in the second quarter were buying a new position in Leidos Holdings worth $29 million. Jana lowered its holding in LabCorp nearly 40%, or $55 million, bringing it to roughly $97 million by the quarter's end. The fund entirely exited a $4 million position in geospatial intelligence stock BlackSky Technology . Jana managed about $1.3 billion in 13F securities at the end of the second quarter, according to WhaleWisdom.com .

Persons: Barry Rosenstein's Jana Partners, Jana Organizations: U.S . Securities, Exchange Commission, Mercury Systems, Leidos Holdings, U.S ., U.S . Department of Defense, U.S . Department of Homeland Security, Fidelity National Information Services, Technology Locations: LabCorp

☆ Do not use certain pregnancy, ovulation, UTI tests, FDA warns
▼ + stars: | 2023-08-12 | by ( Katherine Dillinger | ) edition.cnn.com time to read: +1 min

CNN —Consumers shouldn’t use certain tests manufactured by Universal Meditech Inc., the US Food and Drug Administration warned Friday, including those that test for pregnancy, ovulation and urinary tract infections. “UMI has notified the FDA that it has stopped all operations and is no longer providing support for its tests,” the agency said. “The FDA is not able to confirm the performance of UMI’s tests, raising concerns that the tests may not be safe and effective.”The California-based company has recalled undistributed tests but not those that have already been distributed to consumers. Consumers are advised not to purchase or use the following Universal Meditech tests but rather to throw them away:One Step Pregnancy TestDiagnosUS One Step Ovulation TestHealthyWiser UriTest 10 Parameter Reagent Test Strips for UrinalysisHealthyWiser UriTest UTI Test StripsHealthyWiser KetoFast Ketone Test StripsHealthyWiser pH-Aware pH Test StripsTo Life hCG Pregnancy Urine TestAm I Pregnant Pregnancy Midstream TestDeTec hCG Pregnancy Urine TestPrestiBio Pregnancy StripsPrestiBio Rapid Detection Pregnancy Test MidstreamPrestiBio Ovulation StripsPrestiBio Urinalysis Test Strip 10 ParametersPrestiBio Ketone Test StripsPrestiBio Breast Milk Alcohol Test StripsThe tests may have been distributed under brand names such as AC&C, HealthyWiser, Home Health US and Prestige Biotech. Consumers may report problems with devices or tests to the FDA through its MedWatch program.

Persons: UMI Organizations: CNN, Universal Meditech Inc, US Food and Drug Administration, FDA, Universal, Home Health, Prestige Biotech Locations: The California

☆ Opinion | Mayor Adams and New York’s Immigration Crisis
▼ + stars: | 2023-08-07 | by ( ) www.nytimes.com time to read: +1 min

We’re doing everything we can, and we’ve figured out how to do plenty of things that seemed impossible, too. Camille Joseph VarlackIngrid P. Lewis-MartinSheena WrightNew YorkThe writers are, respectively, chief of staff to Mayor Eric Adams, chief adviser and first deputy mayor. To the Editor:Kudos to Mara Gay. Indeed, this city should be welcoming immigrants and asylum seekers with every resource we have. Not only is it the right thing to do, but history and current economists tell us it will profit the city immensely.

Persons: we’ve, Gay, Camille Joseph Varlack Ingrid P, Lewis, Martin Sheena Wright, Eric Adams, Mara Gay Locations: York

Raised in affluence, Senator Feinstein has long been among the wealthiest members of Congress. Among the backdrops to the fight over Mr. Blum’s estate, however, are questions about the extent of his fortune, as well as the out-of-pocket cost of home health care that Senator Feinstein has received since her bout with shingles earlier this year. During his lifetime, Mr. Blum, Senator Feinstein’s third husband and a private equity magnate, was often referred to in public accounts as a billionaire. However, people familiar with the family’s finances dispute that characterization and say that Mr. Blum’s wealth was less than some heirs had expected. Mr. Blum’s friends said that the pandemic cut deeply into his investments, particularly his extensive holdings in hotels.

Persons: ”, Jerry Roberts, Dianne Feinstein, Feinstein, Blum, Feinstein’s, Blum’s Organizations: Senate Locations: San Francisco neighborhood, Pacific Heights, Aspen, Colo, Hawaii, Kauai, Washington ,

☆ Opinion | Our Immigration System: ‘A Waste of Talent’
▼ + stars: | 2023-07-31 | by ( ) www.nytimes.com time to read: +1 min

To the Editor:“As Politicians Cry Crisis, Migrants Get a Toehold” (news article, July 15) points up the irrationality of the U.S. immigration system. As this article shows, migrants are eager to work, and they are filling significant gaps in fields such as construction and food delivery, but there are still great unmet needs for home health aides and nursing assistants. The main reason for this disjunction lies in federal immigration law, which offers no dedicated visa slots for these occupations (as it does for professionals and even for seasonal agricultural and resort workers) because they are considered “unskilled.”Instead, the law stipulates, applicants must demonstrate that they are “performing work for which qualified workers are not available in the United States” — clearly a daunting task for individual migrants. As a result, many do end up working in fields like home health care but without documentation and are thus vulnerable to exploitation if not deportation. With appropriate reforms, our system would be capable of meeting both the country’s needs for essential workers and migrants’ needs for safe havens.

Persons: United States ” Locations: United States

☆ Heat Is Costing the U.S. Economy Billions in Lost Productivity
▼ + stars: | 2023-07-31 | by ( Coral Davenport | More About Coral Davenport | ) www.nytimes.com time to read: +1 min

As much of the United States swelters under record heat, Amazon drivers and warehouse workers have gone on strike in part to protest working conditions that can exceed 100 degrees Fahrenheit. On triple-digit days in Orlando, utility crews are postponing checks for gas leaks, since digging outdoors dressed in heavy safety gear could endanger their lives. Even in Michigan, on the nation’s northern border, construction crews are working shortened days because of heat. Now that climate change has raised the Earth’s temperatures to the highest levels in recorded history, with projections showing that they will only climb further, new research shows the impact of heat on workers is spreading across the economy and lowering productivity. Extreme heat is regularly affecting workers beyond expected industries like agriculture and construction.

Organizations: United Locations: United States, Orlando, Michigan

☆ Healthcare VCs are focusing their bets on a handful of top startups, forcing the rest to scramble to stay afloat
▼ + stars: | 2023-07-10 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +6 min

In the first half of 2023, healthcare investors have written big checks for their top startup picks. 2023 is on track to be the lowest year of healthcare funding since 2019, Rock Health says. Digital-health startups in the US raised $6.1 billion in the first half of 2023, Rock Health's H1 2023 funding report published on Monday found. Right now, 2023 is on track to be the lowest healthcare funding year since 2019, according to Rock Health. Krasniansky said Rock Health expects many of the impending shutdowns to impact healthcare startups that sell products and services to patients online and on-demand, especially direct-to-consumer companies like telemedicine or mail-order-pharmacy startups.

Persons: It's, haven't, Healthcare's, healthcare's, Adriana Krasniansky, Krasniansky, Ian Chiang, he's, Lynne Chou O'Keefe, it's, Corey McCann, Chou O'Keefe, — Organizations: Rock Health, megadeals, Monogram Health, Frist Cressey Ventures, Flare Capital Partners, Define Ventures, Pear, Madison, Pear Therapeutics

☆ US job gains smallest in 2-1/2 years; labor market still tight
▼ + stars: | 2023-07-07 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Nonfarm payrolls increased by 209,000 jobs last month, the smallest gain since December 2020, the survey of establishments showed. Government employment remains 161,000 below its pre-pandemic levels. Leisure and hospitality employment remains 369,000 below its pre-pandemic levels. The household survey from which the unemployment rate is derived showed employment rebounding 273,000, reversing the 310,000 decline in May. Reuters Graphics"Though demand for labor remains unmatched, the labor shortages that employers sighed over a year ago have definitely subsided some," said Andrew Flowers, lead labor economist at Appcast.

Persons: Sean Snaith, payrolls, Selcuk Eren, Andrew Flowers, Lucia Mutikani, Daniel Wallis, Chizu Nomiyama, Andrea Ricci Organizations: Reserve, Labor, University of Central Florida's Institute, Economic, Reuters, Manufacturing, Institute for Supply, Treasury, Companies, Conference Board, Thomson Locations: WASHINGTON, U.S, Washington

☆ US job growth slows; wage gains remain strong
▼ + stars: | 2023-07-07 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

Nevertheless, the pace of job growth remains strong by historical norms and was further evidence that the economy was far from a dreaded recession. Nonfarm payrolls increased by 209,000 jobs last month, the smallest gain since December 2020, the survey of establishments showed. Government employment increased by 60,000, boosted by a 59,000 rise in state and local government payrolls. Government employment remains 161,000 below its pre-pandemic levels. Annual wage growth remains too high to be consistent with the Fed's 2% inflation target.

Persons: Sal Guatieri, Nonfarm, Lucia Mutikani, Daniel Wallis, Chizu Nomiyama, Andrea Ricci Organizations: Reserve, Labor, Fed, BMO Capital Markets, Reuters, Reuters Graphics Reuters, Treasury, Thomson Locations: WASHINGTON, U.S, Toronto

☆ A 92-year-old woman who works at a Wendy's in Ohio says she does it for her own therapy. 'I'm going to stay as long as I can'
▼ + stars: | 2023-07-05 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

A 92-year-old worker at a Wendy's restaurant in Ohio says she won't quit anytime soon. "I'm going to stay as long as I can," she told The Parkersburg News and Sentinel. Workers aged 65 and over make up just 3.1% of the restaurant industry, per federal data. "I'm going to stay as long as I can," Susie Kelly told The Parkersburg News and Sentinel. As of 2020, 16.8% of the total population, or around 55.8 million people, were aged 65 or over, per Census Bureau data.

Persons: —, Susie Kelly, Kelly, Jason Blair, Nina Male Organizations: Parkersburg, Sentinel, Workers, Service, News, US, Bureau of Labor Statistics Locations: Ohio, Marietta, West Virginia

☆ UnitedHealth bags Amedisys for $3.3 bln as home health firm scraps Option deal
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +1 min

June 26 (Reuters) - Home health and hospice caregiver Amedisys (AMED.O) on Monday agreed to a $3.3 billion sweetened cash offer from UnitedHealth Group (UNH.N) and scrapped an all-stock deal with Option Care Health (OPCH.O). Meanwhile, Option Care said it was "disappointed" with the cancellation of the deal and will get $106 million from Amedisys as per its May agreement. Option Care shares rose 3% in early trading, while those of Amedisys and UnitedHealth were largely flat. Option Care investors had largely disapproved of its deal for Amedisys as they believed the company was capable of recording strong growth on its own. Its shares had slumped 14% in May due to the Amedisys deal, but rose nearly 10% this month after UnitedHealth entered the race.

Persons: Amedisys, UnitedHealth, William Blair, Matt Larew, Leroy Leo, Saumyadeb Chakrabarty, Arun Koyyur Organizations: UnitedHealth, Care, LHC, Amedisys, Thomson Locations: Amedisys, Bengaluru

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