About 2.5 million people have signed up for health insurance on the one-year-old Obamacare exchanges, federal officials said Tuesday.
Reported by msnbc.com 11 hours ago.
'Strong Start': Millions More Sign Up for Obamacare
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How Working Past Age 65 Can Hurt Your Finances
Every month, approximately 250,000 Americans turn 65 years of age. For most, retirement represents an opportunity to enjoy life and the leisure activities for which they simply didn't have time during their working years. But it's also a time to make important decisions about personal finances. If you haven't saved enough money to hit your retirement goal, you need to start asking some hard questions about where that money is going to come from. (If you don't have a retirement goal number, here are some tips to help you figure it out.)
The question that an increasing number of would-be retirees are asking is whether it makes sense for them to continue working after they reach retirement age. Certainly, working after 65 has some positive financial incentives. It means continuing to receive a salary and to increase savings, as well as fewer years living on a fixed income. It also means increasing the amount of money you receive from your social security benefits. But there are also some often overlooked disincentives to working after you turn 65, and retirees need to be aware of all the facts in order to make an informed decision.
*When to Sign Up for Medicare*
If you plan to continue working after age 65 and are covered by health insurance from your work, you might think you don't need to sign up for Medicare. What you might not know, however, is that not signing up for Medicare at age 65, even if you're still working, can hurt your finances when you do retire.
In fact, if you don't sign up for Medicare during the seven months following your 65th birthday, you might find yourself paying 10 percent more for your Medicare Part B premiums after you do retire. And an additional 10 percent is tacked on to your premiums for every year you're eligible for Medicare but don't sign up.
You could also find yourself facing a Medicare Part D premium penalty if you don't enroll in Medicare when you first become eligible. Finally, many retirees who feel they need extra health insurance for the things not covered by Medicare buy private insurance in the form of a Medigap policy. If you don't purchase such a policy within one month of the time you sign up for Medicare Part B, you might not be able to buy this kind of policy down the road, or you could find yourself paying more for it than you would if you signed up during open enrollment.
*Getting the Most Out of Social Security*
You are eligible to begin receiving your social security benefits at age 62, but the monthly benefits you receive are reduced as compared to what you would receive at age 65. For example, someone who is eligible to receive $1,000 in social security benefits at age 65 will see that benefit reduced to $800 at age 62. And your benefits further increase for each month you delay retirement after age 65. In general, your benefits increase by an additional 8 percent for each year you delay retirement.
But delaying retirement past age 65 doesn't mean lifetime total social security earnings will be increased. That's because early retirees, though their monthly benefits are less, are receiving those reduced benefits over a longer period.
Equally important, if you begin receiving your benefits but continue to work, social security will withhold a part of your benefits if you exceed established salary limits. For example, the salary limit until the year you turn 66 is $15,720. For any salary in excess of this limit, social security will withhold one dollar for every two dollars you earn. The salary limit increases to $41,880 in the year you turn 66, at which time one dollar for every three dollars earned in excess of this limit will be withheld.
Continuing to work past age 65 might initially appear to be a no-brainer, but it's important to know all the facts and how these will impact your individual situation before you make this important decision. If after reviewing the facts you still have questions, your best bet is to work with an experienced financial planner who can walk you through the process and create a plan that's best for you. Here are some other tips to keep you from sabotaging your retirement. Reported by Huffington Post 9 hours ago.
The question that an increasing number of would-be retirees are asking is whether it makes sense for them to continue working after they reach retirement age. Certainly, working after 65 has some positive financial incentives. It means continuing to receive a salary and to increase savings, as well as fewer years living on a fixed income. It also means increasing the amount of money you receive from your social security benefits. But there are also some often overlooked disincentives to working after you turn 65, and retirees need to be aware of all the facts in order to make an informed decision.
*When to Sign Up for Medicare*
If you plan to continue working after age 65 and are covered by health insurance from your work, you might think you don't need to sign up for Medicare. What you might not know, however, is that not signing up for Medicare at age 65, even if you're still working, can hurt your finances when you do retire.
In fact, if you don't sign up for Medicare during the seven months following your 65th birthday, you might find yourself paying 10 percent more for your Medicare Part B premiums after you do retire. And an additional 10 percent is tacked on to your premiums for every year you're eligible for Medicare but don't sign up.
You could also find yourself facing a Medicare Part D premium penalty if you don't enroll in Medicare when you first become eligible. Finally, many retirees who feel they need extra health insurance for the things not covered by Medicare buy private insurance in the form of a Medigap policy. If you don't purchase such a policy within one month of the time you sign up for Medicare Part B, you might not be able to buy this kind of policy down the road, or you could find yourself paying more for it than you would if you signed up during open enrollment.
*Getting the Most Out of Social Security*
You are eligible to begin receiving your social security benefits at age 62, but the monthly benefits you receive are reduced as compared to what you would receive at age 65. For example, someone who is eligible to receive $1,000 in social security benefits at age 65 will see that benefit reduced to $800 at age 62. And your benefits further increase for each month you delay retirement after age 65. In general, your benefits increase by an additional 8 percent for each year you delay retirement.
But delaying retirement past age 65 doesn't mean lifetime total social security earnings will be increased. That's because early retirees, though their monthly benefits are less, are receiving those reduced benefits over a longer period.
Equally important, if you begin receiving your benefits but continue to work, social security will withhold a part of your benefits if you exceed established salary limits. For example, the salary limit until the year you turn 66 is $15,720. For any salary in excess of this limit, social security will withhold one dollar for every two dollars you earn. The salary limit increases to $41,880 in the year you turn 66, at which time one dollar for every three dollars earned in excess of this limit will be withheld.
Continuing to work past age 65 might initially appear to be a no-brainer, but it's important to know all the facts and how these will impact your individual situation before you make this important decision. If after reviewing the facts you still have questions, your best bet is to work with an experienced financial planner who can walk you through the process and create a plan that's best for you. Here are some other tips to keep you from sabotaging your retirement. Reported by Huffington Post 9 hours ago.
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Hawaii Health Connector enrolls 3,500 in its first month
The Hawaii Health Connector enrolled 3,500 people in its first month of open enrollment, which ended on Monday, the exchange confirmed Tuesday. The state's online health insurance exchange saw more than an eleven-fold increase in enrollment in comparison to its first month of enrollment last year, when the just 300 signed up for health insurance on the Connector. "This is a huge return on investment we're seeing," Hawaii Health Connector Executive Director Jeff Kissel told PBN. "We as a nation…
Reported by bizjournals 6 hours ago.
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Signup deadline coming for Maryland health exchange
A big deadline is coming up for people who get their health insurance from the Maryland state exchange.
Reported by WTOP 31 minutes ago.
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UMI Provides Updates Regarding New Individual Medical Insurance Policy Regulations in Dubai
As the Dubai Health Authority (DHA) continues to release updates regarding the Dubai Healthcare reform, UMI recommends new and existing clients address their individual medical insurance options in Dubai so as to meet new regulations in 2015.
Dubai (PRWEB) December 17, 2014
UAE Medical Insurance (UMI) recently announced the latest updates from the Dubai Health Authority (DHA) regarding the Dubai Healthcare reform, but now as the implementation date for compliant individual policies approaches, new and existing clients should be alerted as to how to address their individual medical insurance options in Dubai moving forward into 2015.
As previously reported, the DHA has provided updates regarding all aspects of the healthcare reform via a number circulars over the recent months. Released on September 24th, 2014, the second circular informed insurers and policyholders alike that the implementation date for new policies to become compliant with the new regulations would be brought forward to the 1st of January, 2015. It should be noted however, that existing policies have until the first renewal date after the 30th of June, 2015.
To qualify as compliant under the new healthcare reform regulations, all policies must meet a number of requirements. For example, policies must provide an annual limit of 150,000 AED, inpatient and outpatient treatment each covered with 20% co-insurance, maternity coverage up to 7,000 AED and essential inoculations for newborns.
Understandably, this information has caused a stir amongst insurers working with the Dubai health insurance market as creating compliant solutions within a short time frame is no small feat. UMI is keeping close contact with the insurers involved and is confident a number of international key players will be able to offer compliant local policies in time, namely Aviva, Now Health, William Russell, Morgan Price and Integraglobal.
Providers of individual medical insurance in Dubai have also had to undergo a major reassessment of how they underwrite their policies. For example, while insurers were once allowed to decline coverage for applicants with major pre-existing conditions, coverage must be provided up to the minimum cover limit after the implementation date.
While some insurers have opted to develop insurance products specifically for the Dubai market, others appear to be updating their existing plans. UMI believes that the majority of the key players in the market will adapt their products to become compliant rather than withdrawing from the market completely. However, predicting the performance of individual plans in such a competitive market is difficult.
Moving forward, now that the new law has been published and specific regulations are becoming clearer, UMI strongly recommends those residing in or traveling to the Emirate to keep themselves informed and review their health care options immediately. Reported by PRWeb 1 day ago.
Dubai (PRWEB) December 17, 2014
UAE Medical Insurance (UMI) recently announced the latest updates from the Dubai Health Authority (DHA) regarding the Dubai Healthcare reform, but now as the implementation date for compliant individual policies approaches, new and existing clients should be alerted as to how to address their individual medical insurance options in Dubai moving forward into 2015.
As previously reported, the DHA has provided updates regarding all aspects of the healthcare reform via a number circulars over the recent months. Released on September 24th, 2014, the second circular informed insurers and policyholders alike that the implementation date for new policies to become compliant with the new regulations would be brought forward to the 1st of January, 2015. It should be noted however, that existing policies have until the first renewal date after the 30th of June, 2015.
To qualify as compliant under the new healthcare reform regulations, all policies must meet a number of requirements. For example, policies must provide an annual limit of 150,000 AED, inpatient and outpatient treatment each covered with 20% co-insurance, maternity coverage up to 7,000 AED and essential inoculations for newborns.
Understandably, this information has caused a stir amongst insurers working with the Dubai health insurance market as creating compliant solutions within a short time frame is no small feat. UMI is keeping close contact with the insurers involved and is confident a number of international key players will be able to offer compliant local policies in time, namely Aviva, Now Health, William Russell, Morgan Price and Integraglobal.
Providers of individual medical insurance in Dubai have also had to undergo a major reassessment of how they underwrite their policies. For example, while insurers were once allowed to decline coverage for applicants with major pre-existing conditions, coverage must be provided up to the minimum cover limit after the implementation date.
While some insurers have opted to develop insurance products specifically for the Dubai market, others appear to be updating their existing plans. UMI believes that the majority of the key players in the market will adapt their products to become compliant rather than withdrawing from the market completely. However, predicting the performance of individual plans in such a competitive market is difficult.
Moving forward, now that the new law has been published and specific regulations are becoming clearer, UMI strongly recommends those residing in or traveling to the Emirate to keep themselves informed and review their health care options immediately. Reported by PRWeb 1 day ago.
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TAHU: Business Owners Encouraged to Consult Benefit Professionals on 2015 Health Insurance Changes
AUSTIN, Texas, Dec. 17, 2014 /PRNewswire/ -- The second year of the Affordable Care Act (ACA) health insurance open enrollment period is underway from Nov. 15 to Feb. 15. Beginning in 2015, provisions of the new law will affect how large and small employers manage health insurance...
Reported by PR Newswire 1 day ago.
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New Federal Budget Freezes Most Spending for Senior Services -- Again
Congress has again frozen funding for most senior services programs, from Meals on Wheels and other nutrition programs to falls prevention and state health insurance assistance programs (SHIPs). This has been the trend throughout most of the Obama Administration. But it may be about to come to an end, as [...]
Reported by Forbes.com 15 hours ago.
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Prevent Blindness Study Projects Number of Cases and Costs Related to Glaucoma to Soar in Years to Come
Prevent Blindness Supports National Glaucoma Awareness Month in January to Educate Public on Major Eye Disease
CHICAGO (PRWEB) December 17, 2014
According to the 2014 Prevent Blindness “Future of Vision: Forecasting the Prevalence and Costs of Vision Problems” report, more than 2.8 million Americans currently have glaucoma. Those numbers are projected to jump by 50 percent by 2032. And, there will be an estimated 92 percent increase, or 5.5 million cases, by 2050.
Glaucoma is an eye disease that causes loss of sight by damaging a part of the eye called the optic nerve. This nerve sends information from the eyes to the brain. When glaucoma damages the optic nerve, patches of vision are lost, usually side vision (peripheral vision).
Medical treatment costs related to glaucoma and disorders of the optic nerve are also projected to skyrocket in the coming years. Today, more than $6 billion is spent annually on the disease. In 2032, the number jumps to $12 billion a year and by 2050, the annual medical treatment cost is estimated to be $17.3 billion.
In addition, the study also found that currently 64 percent of glaucoma patients are white and 20 percent are black. By 2050, most glaucoma patients will be non-white, due primarily to the rapid increase in Hispanic glaucoma patients. By 2050, blacks and Hispanics will each constitute about 20 percent of all glaucoma patients. By 2018, the largest age group of glaucoma patients will be 70-79. The largest age group will be 80-89 after 2032.
January has been declared as National Glaucoma Awareness Month by Prevent Blindness and other leading eye health organizations. The goal is to help educate patients on the “sneak thief of sight” including risk factors, treatment options and public health resources. The national non-profit group hosts the online “Glaucoma Learning Center” and provides additional free information via its toll free number at (800) 331-2020.
Types of glaucoma include:· Chronic (Open Angle) Glaucoma: The most common form. In open angle glaucoma, aqueous fluid drains too slowly and pressure inside the eye builds up. It usually results from aging of the drainage channel, which doesn't work as well over time. However, younger people can also get this type of glaucoma.
· Normal Tension Glaucoma: This is a form of open angle glaucoma not related to high pressure. People with normal tension glaucoma may be unusually sensitive to normal levels of pressure. Reduced blood supply to the optic nerve may also play a role in normal tension glaucoma.
· Acute (Angle Closure) Glaucoma: Those of Asian and Native American descent are at higher risk for this form of glaucoma. It occurs when the drainage system of the eye becomes blocked. It causes a sudden rise in pressure, requiring immediate, emergency medical care. The signs are usually serious and may include blurred vision, severe headaches, eye pain, nausea, vomiting or seeing rainbow-like halos around lights. Occasionally, the condition may be without symptoms; similar to open angle.
· Secondary Glaucoma: Secondary glaucoma is the result of another eye condition or disease, such as inflammation, trauma, or tumor.
“By getting a complete dilated eye exam, doctors can detect glaucoma and other eye diseases and help minimize the damaging effects by treating it early,” said Hugh R. Parry, president and CEO of Prevent Blindness. “We wish everyone a happy and healthy 2015 and urge everyone to protect their vision by scheduling an eye exam today.”
Prevent Blindness offers free fact sheets to help answer common questions about health insurance, Medicare coverage for glaucoma, the Affordable Care Act and eye care. These may be found at http://www.preventblindness.org/health-insurance-and-your-eyes.
For more information on glaucoma, please call Prevent Blindness at (800) 331-2020 or visit http://www.preventblindness.org/glaucoma-learning-center.
About Prevent Blindness
Founded in 1908, Prevent Blindness is the nation's leading volunteer eye health and safety organization dedicated to fighting blindness and saving sight. Focused on promoting a continuum of vision care, Prevent Blindness touches the lives of millions of people each year through public and professional education, advocacy, certified vision screening and training, community and patient service programs and research. These services are made possible through the generous support of the American public. Together with a network of affiliates and regional offices, Prevent Blindness is committed to eliminating preventable blindness in America. For more information, or to make a contribution to the sight-saving fund, call 1-800-331-2020. Or, visit us on the Web at preventblindness.org or facebook.com/preventblindness.
### Reported by PRWeb 1 day ago.
CHICAGO (PRWEB) December 17, 2014
According to the 2014 Prevent Blindness “Future of Vision: Forecasting the Prevalence and Costs of Vision Problems” report, more than 2.8 million Americans currently have glaucoma. Those numbers are projected to jump by 50 percent by 2032. And, there will be an estimated 92 percent increase, or 5.5 million cases, by 2050.
Glaucoma is an eye disease that causes loss of sight by damaging a part of the eye called the optic nerve. This nerve sends information from the eyes to the brain. When glaucoma damages the optic nerve, patches of vision are lost, usually side vision (peripheral vision).
Medical treatment costs related to glaucoma and disorders of the optic nerve are also projected to skyrocket in the coming years. Today, more than $6 billion is spent annually on the disease. In 2032, the number jumps to $12 billion a year and by 2050, the annual medical treatment cost is estimated to be $17.3 billion.
In addition, the study also found that currently 64 percent of glaucoma patients are white and 20 percent are black. By 2050, most glaucoma patients will be non-white, due primarily to the rapid increase in Hispanic glaucoma patients. By 2050, blacks and Hispanics will each constitute about 20 percent of all glaucoma patients. By 2018, the largest age group of glaucoma patients will be 70-79. The largest age group will be 80-89 after 2032.
January has been declared as National Glaucoma Awareness Month by Prevent Blindness and other leading eye health organizations. The goal is to help educate patients on the “sneak thief of sight” including risk factors, treatment options and public health resources. The national non-profit group hosts the online “Glaucoma Learning Center” and provides additional free information via its toll free number at (800) 331-2020.
Types of glaucoma include:· Chronic (Open Angle) Glaucoma: The most common form. In open angle glaucoma, aqueous fluid drains too slowly and pressure inside the eye builds up. It usually results from aging of the drainage channel, which doesn't work as well over time. However, younger people can also get this type of glaucoma.
· Normal Tension Glaucoma: This is a form of open angle glaucoma not related to high pressure. People with normal tension glaucoma may be unusually sensitive to normal levels of pressure. Reduced blood supply to the optic nerve may also play a role in normal tension glaucoma.
· Acute (Angle Closure) Glaucoma: Those of Asian and Native American descent are at higher risk for this form of glaucoma. It occurs when the drainage system of the eye becomes blocked. It causes a sudden rise in pressure, requiring immediate, emergency medical care. The signs are usually serious and may include blurred vision, severe headaches, eye pain, nausea, vomiting or seeing rainbow-like halos around lights. Occasionally, the condition may be without symptoms; similar to open angle.
· Secondary Glaucoma: Secondary glaucoma is the result of another eye condition or disease, such as inflammation, trauma, or tumor.
“By getting a complete dilated eye exam, doctors can detect glaucoma and other eye diseases and help minimize the damaging effects by treating it early,” said Hugh R. Parry, president and CEO of Prevent Blindness. “We wish everyone a happy and healthy 2015 and urge everyone to protect their vision by scheduling an eye exam today.”
Prevent Blindness offers free fact sheets to help answer common questions about health insurance, Medicare coverage for glaucoma, the Affordable Care Act and eye care. These may be found at http://www.preventblindness.org/health-insurance-and-your-eyes.
For more information on glaucoma, please call Prevent Blindness at (800) 331-2020 or visit http://www.preventblindness.org/glaucoma-learning-center.
About Prevent Blindness
Founded in 1908, Prevent Blindness is the nation's leading volunteer eye health and safety organization dedicated to fighting blindness and saving sight. Focused on promoting a continuum of vision care, Prevent Blindness touches the lives of millions of people each year through public and professional education, advocacy, certified vision screening and training, community and patient service programs and research. These services are made possible through the generous support of the American public. Together with a network of affiliates and regional offices, Prevent Blindness is committed to eliminating preventable blindness in America. For more information, or to make a contribution to the sight-saving fund, call 1-800-331-2020. Or, visit us on the Web at preventblindness.org or facebook.com/preventblindness.
### Reported by PRWeb 1 day ago.
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FORBES Twitter Chat: Avik Roy On Obamacare
When Obamacare was signed into law, its authors promised that “if you like your plan, you can keep it,” and that the law would reduce the cost of health insurance. But Forbes Opinion Editor Avik Roy has discovered that the opposite is true: The new health law has disrupted health coverage [...]
Reported by Forbes.com 22 hours ago.
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Women in Business Q&A: Bethany Lampland, COO, The New York Foundling
As Chief Operating Officer, Bethany oversees all of The New York Foundling's business departments- human resources, finance, legal, development and communications, information technology, facilities and capital projects. Since assuming her current role in 2011, Bethany has championed a number of innovative business ventures that have increased The Foundling's operating efficiency and public exposure. Under her leadership, the operations team accomplished a complete redesign of the charity's Manhattan headquarters, resulting in an open office floor plan that maximized valuable space, created lucrative rental revenue streams and dramatically improved the design and layout of the residential programs located in the building. Bethany initiated The Foundling's first employee wellness program, which has provided health and wellness incentives to our staff while significantly reducing health insurance costs for the charity and its employees. Bethany oversaw a substantial technology infrastructure upgrade and complete restructuring of the information technology department, which has produced critical reliability and efficient delivery of technology services for staff and clients. Working with the communications team, Bethany spearheaded a rebranding of The Foundling's public image--introducing a new marketing focus, logo and web site aimed at providing a clearer picture of the numerous, invaluable services The Foundling provides to disadvantaged children and families.
*How has your life experience made you the leader you are today?*
I grew up in a small, rural town in the Midwest, where the values of hard work, integrity and supporting the local community were of paramount importance. I'm incredibly lucky that from a young age I had this value system all around me, especially within my family. These tenants are central to how I attempt to lead in the workplace, what I expect from the colleagues on my teams, and the attributes I look for in the hiring process. These are personal qualities not skills--you either have them or you don't. Rarely can you teach something like a work ethic or empathy to an adult, and especially not in the employer/employee context.
The flip side of living in a town with a population of less than 5,000 people was a tendency for the community to be fairly insular and demand conformance. I never could conform, and at some point I finally stopped trying. What I found out was that the world didn't fall apart when I stopped attempting to fit into molds that weren't meant for me. It was hard, even painful, not to fit in, but I realized early on that the desire to belong never trumps the need to be yourself and follow your greatest dreams. As a professional and a manager, I constantly try to approach problems in creative ways and often reject the usual and accepted approach. I also encourage my teams to think critically about their work, to challenge the status quo, and even to challenge the end goal I have asked them to accomplish. Independent, analytical thinkers are extremely valuable to me.
*How did your previous employment experience aide your position at The New York Foundling?*
I am a lawyer by training and started my career at a large law firm in New York City. Seven years and a couple of law firms later, I took my first non-legal job at The Foundling. My legal training has helped me immensely in approaching my work in a different way than your typical nonprofit leader. As an attorney, my job was to listen to a complex set of problems, figure out what was noise, what was relevant, and what was critical. I still approach problems that way at The Foundling. I assess a situation by identifying the primary issues as quickly as possible, isolating the key components necessary to solve the problem, and putting a stop to dialogues that focus on unhelpful sideshows. The private sector doesn't have a monopoly on efficient, results-oriented decision making. We can do that in the nonprofit world too.
*What have the highlights and challenges been during your tenure at The New York Foundling?*
The most challenging and most rewarding part of working at The Foundling has been formalizing and bringing clarity to the practices and procedures of an organization of this size. Like many nonprofits, our primary focus historically has been delivering excellent service to our clients; the result of this type of singular focus is often underdeveloped business protocols. While lack of structure can be overwhelming, it is also quite freeing. Starting from scratch means you are free to tackle problems in different ways and take advantage of interesting opportunities.
The freedom to take a fresh look at our business operations has resulted in many exciting accomplishments in my short three-and-a-half year tenure. We initiated The Foundling's first corporate wellness program and successfully changed our employees' approach to healthcare decisions in such an impactful way that our health insurance premiums have actually decreased. We radically shifted our approach to using office space, resulting in the ability to occupy significantly less real estate with the same number of employees. Overall employee satisfaction with the work environment has increased and costs have dramatically decreased. Due to these changes, we have closed on the sale of over $100 million of real property in the last two years, creating valuable opportunities to redirect assets to our expanding client base and new programs. Of particular importance to me, the Development team and I took a critical look at our approach to fundraising and created a new, high-touch model for working with existing and new private donors. The results have been astonishing: our institutional and corporate donations have increased by over 40% and last year, our annual appeal raised over 50% more revenue than the previous year.
A recent example of my teams' out-of-the-box thinking is coming to fruition in mere weeks. We recognized the value of our headquarters being located on a busy corner in Manhattan and created a retail space in our lobby to house a socially-conscious coffee shop. We ran a contest and asked local, high-end coffee shops to compete for the right to our coveted Chelsea real estate (at rental rates 50% off market price) by telling us what they'd do to further The Foundling's mission. We found an amazing partner--COFFEED (http://www.coffeednyc.com/), a Long Island City-based company--that will open its newest café, and its first in Manhattan, this December. COFFEED will not only donate up to 10% of gross revenue to The Foundling, it will also devote a quarter of its interior space to marketing the issues of disadvantaged New Yorkers and employ Foundling clients, including teens in the child welfare system and adults with developmental disabilities. In fact, COFFEED has already hired two of our high school students in foster care! This amazing cross-sector partnership is a win/win for everyone.
*What's it like being a COO at one of the oldest charities in NYC?*
Being the Chief Operating Officer of one of New York's oldest and largest nonprofits is both a tremendous honor and a huge challenge. As one of my colleagues described it, most days my Outlook calendar looks like a game of Tetris. It's exhilarating being involved in so many interesting projects and working with the dedicated and smart people who run my various business teams. Without all-star colleagues, I would never move the needle in any significant way. One of the most valuable lessons I have learned in transitioning from managing people to managing teams made up of hundreds of people is that hiring strong, competent leaders and then trusting them to run their business line better than you ever could is essential to success. There is a fine line between managing and micromanaging, which I have learned the hard way.
*What advice would you give to other nonprofits who are looking to refresh their image and operations?*
First, I would tell them to make a list of their current assets and liabilities; essentially assess the organization honestly and get a comprehensive lay of the land. When I started at The Foundling we had some key assets--an amazing history, incredible reach within the five boroughs of New York City, and over 1,500 extremely dedicated employees. We also had some serious liabilities--our government funding was a disproportionate piece of the pie and people under 50 had rarely heard of us. Taking a good look at where you stand is always the first step.
Second, spend serious time establishing impactful short (1-3 years) and medium (4-6 years) term goals for the organization. When your goals are clear, decision making is easier and more straightforward. Does the opportunity further your goals or does it squander resources and energy on something that isn't a priority? In a world of finite resources and time, it's essential to pursue only those opportunities that take the organization closer to its core goals--this is especially true when you are aiming for rapid transformation. The hardest thing about this kind of laser focus is that you have to pass on some pretty cool and interesting opportunities. I was recently at a conference where Jony Ive of Apple explained the discipline of focus this way: "what focus means is saying no with every bone in your body to something you know is a good idea, but you say no because you're focused on something else."
*How do you maintain a work/life balance?*
Truthfully, I don't do a great job with work/life balance. For all the talk in the media and among female professionals about "having it all", I'm still unsure of what that all really means. I know that I'm a happier, more inspired person when I have a rich life comprised of different activities, interests and people. That said, my career takes up a disproportionate amount of my time, and I like it that way. I get a lot of enjoyment, satisfaction and fulfillment from what I do, so the line between work and personal life is often blurry in my day to day.
As my colleagues often tease, I am always looking for unique opportunities for The Foundling. For example, last year I mentioned our work while shopping for dresses at Cynthia Rowley's West Village boutique and that quickly gave rise to an incredibly successful fundraising event that garnered great press and raised money for The Foundling. We now have a tremendous friendship with Cynthia and her colleagues.
Most importantly, I'm fortunate to have an incredible husband, extremely wonderful friends, a supportive family and Quinn, the dog of all dogs. These relationships keep me grounded and happy even when there is zero "balance" in sight.
*What do you think is the biggest issue for women in the workplace?*
In my experience, women tend to underestimate their own skills and often fail to have confidence in their professional abilities - myself included. I once told a male colleague I would never get a job I'd applied for because I only had 50% of the skills in the job description. He said, "Bethany, no man would ever think that way. A man would say, 'I've got at least 50% of the things they want nailed, they've got to hire me." Despite being a bit stereotypical, there is some truth to his comment. When my current boss, our CEO, offered me the job of chief operating officer of The Foundling (then with a $100 million annual operating budget and 1500 employees), I told him I was flattered but didn't think I was qualified for the promotion and would help him find someone with more experience. My responses sounded so crazy to him that he later told me he thought I was just badly attempting to portray some false sense of humility. (Of course this was untrue -- what I was thinking at the time was, "hey, I'm 33 and save the last 6 months I have only ever been a lawyer, why would anyone think I'm qualified to run the operations of a $100 million organization!") Luckily, I found the courage to take the job and the last three and a half years have been a tremendous adventure; I've learned an incredible amount, and more times than not, moved the ball forward.
*How has mentorship made a difference in your professional and personal life?*
I've been lucky to cross paths with so many strong, intelligent and caring men and women and have learned a lot from watching how they navigate their careers. Despite that, I've never had a mentor in the formal sense, though it's something I've always wanted. A dear friend with a good 30 years of additional life experience once told me that at some point early on in his career, he accepted that he may never find a mentor, so he decided to be his own mentor. That stuck with me. I'd still love to find a mentor who is available to provide sage advice, field questions and offer encouragement, but until then, I try to fill that void by creating my own opportunities to learn and grow--be it through books, lectures or just paying attention to the positive and negative results of my own and others' decisions.
*Which other female leaders do you admire and why?*
There are so many influential women leaders that I look up to, but a few that have been forefront in my mind lately include: Kamala Harris (Attorney General of California), Indra Nooyi (Chairperson and CEO of PepsiCo), Sheryl Sandberg (COO of Facebook), Patricia Harris (CEO of Bloomberg Philanthropies), Kirsten Gillibrand (U.S. Senator), and Sister Simone Campbell (lawyer, activist, nun). In their own unique way, each of these women thinks big, acts with integrity, holds themselves and their staff accountable, and simply gets things done.
*What are your hopes for the future of The New York Foundling?*
My hope is that this esteemed 145 year-old organization continues to stay relevant and impactful for many decades to come. The best nonprofits change alongside the communities they serve. As long as we are nimble, effective and responsive to our clients' needs, The Foundling will serve New Yorkers with compassion for a long time. Reported by Huffington Post 23 hours ago.
*How has your life experience made you the leader you are today?*
I grew up in a small, rural town in the Midwest, where the values of hard work, integrity and supporting the local community were of paramount importance. I'm incredibly lucky that from a young age I had this value system all around me, especially within my family. These tenants are central to how I attempt to lead in the workplace, what I expect from the colleagues on my teams, and the attributes I look for in the hiring process. These are personal qualities not skills--you either have them or you don't. Rarely can you teach something like a work ethic or empathy to an adult, and especially not in the employer/employee context.
The flip side of living in a town with a population of less than 5,000 people was a tendency for the community to be fairly insular and demand conformance. I never could conform, and at some point I finally stopped trying. What I found out was that the world didn't fall apart when I stopped attempting to fit into molds that weren't meant for me. It was hard, even painful, not to fit in, but I realized early on that the desire to belong never trumps the need to be yourself and follow your greatest dreams. As a professional and a manager, I constantly try to approach problems in creative ways and often reject the usual and accepted approach. I also encourage my teams to think critically about their work, to challenge the status quo, and even to challenge the end goal I have asked them to accomplish. Independent, analytical thinkers are extremely valuable to me.
*How did your previous employment experience aide your position at The New York Foundling?*
I am a lawyer by training and started my career at a large law firm in New York City. Seven years and a couple of law firms later, I took my first non-legal job at The Foundling. My legal training has helped me immensely in approaching my work in a different way than your typical nonprofit leader. As an attorney, my job was to listen to a complex set of problems, figure out what was noise, what was relevant, and what was critical. I still approach problems that way at The Foundling. I assess a situation by identifying the primary issues as quickly as possible, isolating the key components necessary to solve the problem, and putting a stop to dialogues that focus on unhelpful sideshows. The private sector doesn't have a monopoly on efficient, results-oriented decision making. We can do that in the nonprofit world too.
*What have the highlights and challenges been during your tenure at The New York Foundling?*
The most challenging and most rewarding part of working at The Foundling has been formalizing and bringing clarity to the practices and procedures of an organization of this size. Like many nonprofits, our primary focus historically has been delivering excellent service to our clients; the result of this type of singular focus is often underdeveloped business protocols. While lack of structure can be overwhelming, it is also quite freeing. Starting from scratch means you are free to tackle problems in different ways and take advantage of interesting opportunities.
The freedom to take a fresh look at our business operations has resulted in many exciting accomplishments in my short three-and-a-half year tenure. We initiated The Foundling's first corporate wellness program and successfully changed our employees' approach to healthcare decisions in such an impactful way that our health insurance premiums have actually decreased. We radically shifted our approach to using office space, resulting in the ability to occupy significantly less real estate with the same number of employees. Overall employee satisfaction with the work environment has increased and costs have dramatically decreased. Due to these changes, we have closed on the sale of over $100 million of real property in the last two years, creating valuable opportunities to redirect assets to our expanding client base and new programs. Of particular importance to me, the Development team and I took a critical look at our approach to fundraising and created a new, high-touch model for working with existing and new private donors. The results have been astonishing: our institutional and corporate donations have increased by over 40% and last year, our annual appeal raised over 50% more revenue than the previous year.
A recent example of my teams' out-of-the-box thinking is coming to fruition in mere weeks. We recognized the value of our headquarters being located on a busy corner in Manhattan and created a retail space in our lobby to house a socially-conscious coffee shop. We ran a contest and asked local, high-end coffee shops to compete for the right to our coveted Chelsea real estate (at rental rates 50% off market price) by telling us what they'd do to further The Foundling's mission. We found an amazing partner--COFFEED (http://www.coffeednyc.com/), a Long Island City-based company--that will open its newest café, and its first in Manhattan, this December. COFFEED will not only donate up to 10% of gross revenue to The Foundling, it will also devote a quarter of its interior space to marketing the issues of disadvantaged New Yorkers and employ Foundling clients, including teens in the child welfare system and adults with developmental disabilities. In fact, COFFEED has already hired two of our high school students in foster care! This amazing cross-sector partnership is a win/win for everyone.
*What's it like being a COO at one of the oldest charities in NYC?*
Being the Chief Operating Officer of one of New York's oldest and largest nonprofits is both a tremendous honor and a huge challenge. As one of my colleagues described it, most days my Outlook calendar looks like a game of Tetris. It's exhilarating being involved in so many interesting projects and working with the dedicated and smart people who run my various business teams. Without all-star colleagues, I would never move the needle in any significant way. One of the most valuable lessons I have learned in transitioning from managing people to managing teams made up of hundreds of people is that hiring strong, competent leaders and then trusting them to run their business line better than you ever could is essential to success. There is a fine line between managing and micromanaging, which I have learned the hard way.
*What advice would you give to other nonprofits who are looking to refresh their image and operations?*
First, I would tell them to make a list of their current assets and liabilities; essentially assess the organization honestly and get a comprehensive lay of the land. When I started at The Foundling we had some key assets--an amazing history, incredible reach within the five boroughs of New York City, and over 1,500 extremely dedicated employees. We also had some serious liabilities--our government funding was a disproportionate piece of the pie and people under 50 had rarely heard of us. Taking a good look at where you stand is always the first step.
Second, spend serious time establishing impactful short (1-3 years) and medium (4-6 years) term goals for the organization. When your goals are clear, decision making is easier and more straightforward. Does the opportunity further your goals or does it squander resources and energy on something that isn't a priority? In a world of finite resources and time, it's essential to pursue only those opportunities that take the organization closer to its core goals--this is especially true when you are aiming for rapid transformation. The hardest thing about this kind of laser focus is that you have to pass on some pretty cool and interesting opportunities. I was recently at a conference where Jony Ive of Apple explained the discipline of focus this way: "what focus means is saying no with every bone in your body to something you know is a good idea, but you say no because you're focused on something else."
*How do you maintain a work/life balance?*
Truthfully, I don't do a great job with work/life balance. For all the talk in the media and among female professionals about "having it all", I'm still unsure of what that all really means. I know that I'm a happier, more inspired person when I have a rich life comprised of different activities, interests and people. That said, my career takes up a disproportionate amount of my time, and I like it that way. I get a lot of enjoyment, satisfaction and fulfillment from what I do, so the line between work and personal life is often blurry in my day to day.
As my colleagues often tease, I am always looking for unique opportunities for The Foundling. For example, last year I mentioned our work while shopping for dresses at Cynthia Rowley's West Village boutique and that quickly gave rise to an incredibly successful fundraising event that garnered great press and raised money for The Foundling. We now have a tremendous friendship with Cynthia and her colleagues.
Most importantly, I'm fortunate to have an incredible husband, extremely wonderful friends, a supportive family and Quinn, the dog of all dogs. These relationships keep me grounded and happy even when there is zero "balance" in sight.
*What do you think is the biggest issue for women in the workplace?*
In my experience, women tend to underestimate their own skills and often fail to have confidence in their professional abilities - myself included. I once told a male colleague I would never get a job I'd applied for because I only had 50% of the skills in the job description. He said, "Bethany, no man would ever think that way. A man would say, 'I've got at least 50% of the things they want nailed, they've got to hire me." Despite being a bit stereotypical, there is some truth to his comment. When my current boss, our CEO, offered me the job of chief operating officer of The Foundling (then with a $100 million annual operating budget and 1500 employees), I told him I was flattered but didn't think I was qualified for the promotion and would help him find someone with more experience. My responses sounded so crazy to him that he later told me he thought I was just badly attempting to portray some false sense of humility. (Of course this was untrue -- what I was thinking at the time was, "hey, I'm 33 and save the last 6 months I have only ever been a lawyer, why would anyone think I'm qualified to run the operations of a $100 million organization!") Luckily, I found the courage to take the job and the last three and a half years have been a tremendous adventure; I've learned an incredible amount, and more times than not, moved the ball forward.
*How has mentorship made a difference in your professional and personal life?*
I've been lucky to cross paths with so many strong, intelligent and caring men and women and have learned a lot from watching how they navigate their careers. Despite that, I've never had a mentor in the formal sense, though it's something I've always wanted. A dear friend with a good 30 years of additional life experience once told me that at some point early on in his career, he accepted that he may never find a mentor, so he decided to be his own mentor. That stuck with me. I'd still love to find a mentor who is available to provide sage advice, field questions and offer encouragement, but until then, I try to fill that void by creating my own opportunities to learn and grow--be it through books, lectures or just paying attention to the positive and negative results of my own and others' decisions.
*Which other female leaders do you admire and why?*
There are so many influential women leaders that I look up to, but a few that have been forefront in my mind lately include: Kamala Harris (Attorney General of California), Indra Nooyi (Chairperson and CEO of PepsiCo), Sheryl Sandberg (COO of Facebook), Patricia Harris (CEO of Bloomberg Philanthropies), Kirsten Gillibrand (U.S. Senator), and Sister Simone Campbell (lawyer, activist, nun). In their own unique way, each of these women thinks big, acts with integrity, holds themselves and their staff accountable, and simply gets things done.
*What are your hopes for the future of The New York Foundling?*
My hope is that this esteemed 145 year-old organization continues to stay relevant and impactful for many decades to come. The best nonprofits change alongside the communities they serve. As long as we are nimble, effective and responsive to our clients' needs, The Foundling will serve New Yorkers with compassion for a long time. Reported by Huffington Post 23 hours ago.
↧
14 Things That Will Be More Expensive Next Year
This article was reported by DealNews, a site that scours the web for the best retail deals.
Love bourbon, bacon, and chocolate? Too bad. Those are just a few of the things you can expect to pay more for next year, thanks to droughts, increased demand, and, possibly, hipsters.
Take heart, there's some good news, too. In spite of the earthquake in Napa Valley this August, wine prices aren't likely to increase, and even though L.L. Bean is experiencing a shortage of its signature duck boots, a company spokesperson told *DealNews* there are no plans right now to raise prices. (With a waitlist of more than 100,000, though, you might want to order a pair for next winter.) Also, national average gas prices (which seem to be synonymous with "rising prices") have actually fallen every day since the end of September, are currently at four-year lows, and are expected to continue dropping.
To see what you might want to stockpile, read our list of items predicted to be more expensive in 2015. And to combat these price hikes, consider signing up for the DealNews Select Newsletter so you can save money on everything elsethroughout the year.
-*Bourbon*-Some think the impending bourbon shortage announced by Buffalo Trace earlier this year is nothing but a marketing ploy to drive up prices and demand, but a spokesperson for the company recently told Business Insider that the shortage is "very real." Within the last five years, sales of domestic bourbon have increased 36%, and while there's no minimum aging time for bourbon, most are aged for at least two years or longer. (Buffalo Trace, for example, ages its whiskey for 4 to 23 years.) Not predicting the craft cocktail- and hipster-fueled popularity, some bourbon distilleries are rationing their bottles for the first time since the end of Prohibition — and, of course, raising their prices.
-*Beef and Pork (Yes, Bacon Too)*-
Remember the bacon shortage panic of 2012? While those reports were exaggerated, the price of bacon has increased, hitting an all-time high in 2014. It's not entirely the fault of hipsters and foodies. (Though they're almost certainly drinking all the bourbon.) Aside from increased demand, a pig-killing virus and higher feed costs have been causing the bacon and pork price hike. Higher feed prices are also affecting beef prices. In fact, Chipotle has even reported that customers are opting for chicken instead of steak after the chain's menu prices changed to reflect the rising beef costs. Beef and pork prices will continue to increase in 2015.
-*Avocados*-
Speaking of burritos, it might cost more to make guacamole. It looks like 2015 will be the year of the avocado shortage, largely because people are eating too many of them.
-*Chocolate*-
Well, this is just getting depressing. Top chocolate manufacturers have warned of a cocoa shortage, a disaster that Stephen Colbert predicts will be heralded by "the 3 Musketeers of the apocalypse." Ebola-stricken countries produce only 0.7% of the world's cocoa, so the main culprit is a West African drought — as well as increasing worldwide demand for chocolate. Chocolate prices have already been rising, particularly in the case of small artisanal chocolate makers who use quality ingredients and often more cocoa for dark chocolate.
If prices of sweet treats don't increase, it's not necessarily luck. Some confection experts predict that candy makers will use less chocolate and more of other ingredients — nuts and raisins, for example — to keep costs down, while others will use cheaper ingredients, like palm oil. Even the Easter Bunny is expected to fill baskets with smaller chocolate eggs this year.
-*Air Travel*-
Fuel prices have been falling, but while airlines are paying less for jet fuel — 17% less than at the end of 2015 — they are increasing their prices. "An improving economy and the airlines' skill at operating at full capacity will mean fewer flight bargains," says Tim Leffel, author of The World's Cheapest Destinations and editor of the Cheapest Destinations blog.
According to the American Express Global Business Travel Forecast 2015, there will be a 6% increase for short-haul business flights, while the Global Business Travel Association (GBTA) Foundation and Carlson Wagonlit Travel (CWT) predict a 2.5% increase in cost for business air travel within North America, slightly higher than the 2.2% hike worldwide, but lower than the 3.5% Latin American air travel increase.
-*Hotels*-
"For hotels, business travel is up and unemployment is down, so rates will continue to tick up," says Leffel. The CWT and GBTA project a 2.2% increase in hotel costs for business travelers worldwide, with North America seeing a 3.5% increase. Hotel rooms in Latin America are expected to cost 6.5% more because of a shortage of rooms.
-*FedEx and UPS Fees*-
FedEx and UPS are implementing dimensional weight pricing in 2015, meaning the price of all packages — not just those larger than three cubic feet — will be based on the amount of space a package occupies in relation to its weight. As of December 29, UPS will increase prices 4.9% for ground, air, international, and freight services in the U.S., Canada, and Puerto Rico. Beginning January 5, FedEx prices will also increase an average of 4.9% for U.S. domestic, import, and export services, as well as for FedEx Ground and FedEx Home Delivery.
However, the United States Postal Service offered some good news. Come January, there won't be any postage increases, though a price hike might just be postponed.
-*Coffee*-
Last year, coffee prices were expected to drop, but a drought in Brazil — the world's largest grower of coffee — caused prices to increase among brands like Folgers, Dunkin' Donuts, Maxwell House, Gevalia, and Starbucks. While Smucker's, which owns Folgers, said the price hike by as much as $2 per can was a "misstep," it doesn't look as if prices will drop in the coming year. Following an increase in K-Cup prices by Keurig, Kraft Foods recently announced an approximate 9% price increase for Maxwell House, Yuban, Gevalia, and McCafe single-serve K-Cup packs.
-*Olive Oil*-Brazil and West Africa weren't the only areas affected by drought this past year. Italian olive growers have just weathered what they called the worst year in memory, decreasing olive oil output from Italy by 37%, while Spain, the top olive oil exporter to the U.S. and Japan, suffered a drought that's expected to raise prices worldwide.
-*Some Sports Cars*-
If you were thinking of buying a car, keep in mind that some models for 2015 will be more expensive. For example, for the 2015 Ford Mustang, prices have increased by about $1,000, says Jeff Ostroff of CarBuyingTips.com. At some Ford dealerships, he says, "they were selling all the new Mustangs at full sticker price off the truck last month, and all were selling."
-*Redbox Rentals*-
As of January 6, the price of renting a video game from a Redbox kiosk will increase from $1 to $3 per day. In December, Redbox raised DVD rentals by 30 cents to $1.50 per day, while Blu-Ray disc rentals increased by 50 cents to $2 per day.
-*Girl Scout Cookies*-
Before you start hoarding Thin Mints, relax — unless you live in California. Prices of Girl Scout Cookies are set by each of the 112 Girl Scout councils across the country, so prices vary. San Francisco Girl Scouts raised prices last year raised prices last year to $5 a box, and in 2015, Orange County and Los Angeles area Girl Scouts are following suit. (Just keep in mind about 75% of sales go back to the Scouts, and you'll make a girl aiming for a badge very happy. Also, Girl Scout cookies in Hawaii have been $5 per box for years.)
-*Health Care*-
Medical costs will increase by 6.8% in 2015, according to a PricewaterhouseCoopers Health Research Institute report. The institute's survey found that 85% of employers are implementing or considering increasing employee cost-sharing within the next three years, and 18% of employers now offer a high-deductible health plan as the only health insurance option for employees.
Some insured under the Affordable Care Act could pay up to 20% more for health insurance if they don't reconsider their current plans. During open enrollment through February 15, it's possible to switch to a plan that will cost less, taking into account the ACA tiers of coverage, monthly premiums, deductibles, and possible tax subsidies and cost-sharing reductions.
If that weren't enough, a new AARP report and the Segal 2015 Health Plan Cost Trend Survey predict the continuing dramatic increase of name-brand prescription drug prices. "Typically, less than 1% of all prescriptions are specialty drug medications, yet these drugs now account for more than 25% of total prescription drug cost trends," says Edward Kaplan, Segal's National Health Practice Leader. Oh, and generic drug prices are going up, too.
If this list has you feeling down, cheer up! DealNews also has a list of things that will cost less in 2015 as well! Do you have predictions for items that will be more expensive this year? Tell us below! And make sure to sign up for the DealNews Select Newsletter to save money year round, or check out our monthly buying guides to get a leg up on seasonal changes. Reported by Huffington Post 22 hours ago.
Love bourbon, bacon, and chocolate? Too bad. Those are just a few of the things you can expect to pay more for next year, thanks to droughts, increased demand, and, possibly, hipsters.
Take heart, there's some good news, too. In spite of the earthquake in Napa Valley this August, wine prices aren't likely to increase, and even though L.L. Bean is experiencing a shortage of its signature duck boots, a company spokesperson told *DealNews* there are no plans right now to raise prices. (With a waitlist of more than 100,000, though, you might want to order a pair for next winter.) Also, national average gas prices (which seem to be synonymous with "rising prices") have actually fallen every day since the end of September, are currently at four-year lows, and are expected to continue dropping.
To see what you might want to stockpile, read our list of items predicted to be more expensive in 2015. And to combat these price hikes, consider signing up for the DealNews Select Newsletter so you can save money on everything elsethroughout the year.
-*Bourbon*-Some think the impending bourbon shortage announced by Buffalo Trace earlier this year is nothing but a marketing ploy to drive up prices and demand, but a spokesperson for the company recently told Business Insider that the shortage is "very real." Within the last five years, sales of domestic bourbon have increased 36%, and while there's no minimum aging time for bourbon, most are aged for at least two years or longer. (Buffalo Trace, for example, ages its whiskey for 4 to 23 years.) Not predicting the craft cocktail- and hipster-fueled popularity, some bourbon distilleries are rationing their bottles for the first time since the end of Prohibition — and, of course, raising their prices.
-*Beef and Pork (Yes, Bacon Too)*-
Remember the bacon shortage panic of 2012? While those reports were exaggerated, the price of bacon has increased, hitting an all-time high in 2014. It's not entirely the fault of hipsters and foodies. (Though they're almost certainly drinking all the bourbon.) Aside from increased demand, a pig-killing virus and higher feed costs have been causing the bacon and pork price hike. Higher feed prices are also affecting beef prices. In fact, Chipotle has even reported that customers are opting for chicken instead of steak after the chain's menu prices changed to reflect the rising beef costs. Beef and pork prices will continue to increase in 2015.
-*Avocados*-
Speaking of burritos, it might cost more to make guacamole. It looks like 2015 will be the year of the avocado shortage, largely because people are eating too many of them.
-*Chocolate*-
Well, this is just getting depressing. Top chocolate manufacturers have warned of a cocoa shortage, a disaster that Stephen Colbert predicts will be heralded by "the 3 Musketeers of the apocalypse." Ebola-stricken countries produce only 0.7% of the world's cocoa, so the main culprit is a West African drought — as well as increasing worldwide demand for chocolate. Chocolate prices have already been rising, particularly in the case of small artisanal chocolate makers who use quality ingredients and often more cocoa for dark chocolate.
If prices of sweet treats don't increase, it's not necessarily luck. Some confection experts predict that candy makers will use less chocolate and more of other ingredients — nuts and raisins, for example — to keep costs down, while others will use cheaper ingredients, like palm oil. Even the Easter Bunny is expected to fill baskets with smaller chocolate eggs this year.
-*Air Travel*-
Fuel prices have been falling, but while airlines are paying less for jet fuel — 17% less than at the end of 2015 — they are increasing their prices. "An improving economy and the airlines' skill at operating at full capacity will mean fewer flight bargains," says Tim Leffel, author of The World's Cheapest Destinations and editor of the Cheapest Destinations blog.
According to the American Express Global Business Travel Forecast 2015, there will be a 6% increase for short-haul business flights, while the Global Business Travel Association (GBTA) Foundation and Carlson Wagonlit Travel (CWT) predict a 2.5% increase in cost for business air travel within North America, slightly higher than the 2.2% hike worldwide, but lower than the 3.5% Latin American air travel increase.
-*Hotels*-
"For hotels, business travel is up and unemployment is down, so rates will continue to tick up," says Leffel. The CWT and GBTA project a 2.2% increase in hotel costs for business travelers worldwide, with North America seeing a 3.5% increase. Hotel rooms in Latin America are expected to cost 6.5% more because of a shortage of rooms.
-*FedEx and UPS Fees*-
FedEx and UPS are implementing dimensional weight pricing in 2015, meaning the price of all packages — not just those larger than three cubic feet — will be based on the amount of space a package occupies in relation to its weight. As of December 29, UPS will increase prices 4.9% for ground, air, international, and freight services in the U.S., Canada, and Puerto Rico. Beginning January 5, FedEx prices will also increase an average of 4.9% for U.S. domestic, import, and export services, as well as for FedEx Ground and FedEx Home Delivery.
However, the United States Postal Service offered some good news. Come January, there won't be any postage increases, though a price hike might just be postponed.
-*Coffee*-
Last year, coffee prices were expected to drop, but a drought in Brazil — the world's largest grower of coffee — caused prices to increase among brands like Folgers, Dunkin' Donuts, Maxwell House, Gevalia, and Starbucks. While Smucker's, which owns Folgers, said the price hike by as much as $2 per can was a "misstep," it doesn't look as if prices will drop in the coming year. Following an increase in K-Cup prices by Keurig, Kraft Foods recently announced an approximate 9% price increase for Maxwell House, Yuban, Gevalia, and McCafe single-serve K-Cup packs.
-*Olive Oil*-Brazil and West Africa weren't the only areas affected by drought this past year. Italian olive growers have just weathered what they called the worst year in memory, decreasing olive oil output from Italy by 37%, while Spain, the top olive oil exporter to the U.S. and Japan, suffered a drought that's expected to raise prices worldwide.
-*Some Sports Cars*-
If you were thinking of buying a car, keep in mind that some models for 2015 will be more expensive. For example, for the 2015 Ford Mustang, prices have increased by about $1,000, says Jeff Ostroff of CarBuyingTips.com. At some Ford dealerships, he says, "they were selling all the new Mustangs at full sticker price off the truck last month, and all were selling."
-*Redbox Rentals*-
As of January 6, the price of renting a video game from a Redbox kiosk will increase from $1 to $3 per day. In December, Redbox raised DVD rentals by 30 cents to $1.50 per day, while Blu-Ray disc rentals increased by 50 cents to $2 per day.
-*Girl Scout Cookies*-
Before you start hoarding Thin Mints, relax — unless you live in California. Prices of Girl Scout Cookies are set by each of the 112 Girl Scout councils across the country, so prices vary. San Francisco Girl Scouts raised prices last year raised prices last year to $5 a box, and in 2015, Orange County and Los Angeles area Girl Scouts are following suit. (Just keep in mind about 75% of sales go back to the Scouts, and you'll make a girl aiming for a badge very happy. Also, Girl Scout cookies in Hawaii have been $5 per box for years.)
-*Health Care*-
Medical costs will increase by 6.8% in 2015, according to a PricewaterhouseCoopers Health Research Institute report. The institute's survey found that 85% of employers are implementing or considering increasing employee cost-sharing within the next three years, and 18% of employers now offer a high-deductible health plan as the only health insurance option for employees.
Some insured under the Affordable Care Act could pay up to 20% more for health insurance if they don't reconsider their current plans. During open enrollment through February 15, it's possible to switch to a plan that will cost less, taking into account the ACA tiers of coverage, monthly premiums, deductibles, and possible tax subsidies and cost-sharing reductions.
If that weren't enough, a new AARP report and the Segal 2015 Health Plan Cost Trend Survey predict the continuing dramatic increase of name-brand prescription drug prices. "Typically, less than 1% of all prescriptions are specialty drug medications, yet these drugs now account for more than 25% of total prescription drug cost trends," says Edward Kaplan, Segal's National Health Practice Leader. Oh, and generic drug prices are going up, too.
If this list has you feeling down, cheer up! DealNews also has a list of things that will cost less in 2015 as well! Do you have predictions for items that will be more expensive this year? Tell us below! And make sure to sign up for the DealNews Select Newsletter to save money year round, or check out our monthly buying guides to get a leg up on seasonal changes. Reported by Huffington Post 22 hours ago.
↧
Stakeholders Urge FDA to Pass Final Guidance on Biosimilars at Recent Conference, AIS Newsletter Reports
Biosimilar stakeholders urge the FDA to pass final regulations related to the drugs at a recent conference on biosimilars, reports Atlantic Information Services’ Specialty Pharmacy News in its December issue.
Washington, DC (PRWEB) December 17, 2014
The December issue of Atlantic Information Services, Inc.’s (AIS) Specialty Pharmacy News (SPN) offers coverage of a recent conference on biosimilars, drugs that are highly similar to and less expensive than brand-name biologic drugs and use an abbreviated pathway for the Food and Drug Administration’s (FDA) approval. At Rx Innovation: A Discussion on Biosimilars, Patient Access & Affordability, representatives and stakeholders from across the health care industry – from government officials to executives from pharmaceutical companies — focused particularly on the status of the FDA’s biosimilars guidance, with all panelists urging the FDA to issue final regulations on biosimilars.
Speaking at the conference, Sen. Richard Blumenthal (D-Conn.) and Rep. Gus Bilirakis (R-Fla.) expressed bipartisan support for biologics, SPN reports. Sen. Blumenthal called biosimilars “a tremendously important and profoundly significant subject to the future of medicine in the U.S. and to our health.” Rep. Bilirakis agreed, saying, “It benefits companies, the FDA and most importantly the patient if the FDA provides clear guidance on the issue.” The drugs “have had remarkable international success,” Rep. Bilirakis continued, and in Europe and Asia have “reduced treatment costs by 40%....Competition lowers prices. It’s the free market at work.”
Steve Miller, M.D., senior vice president and chief medical officer for Express Scripts, one of the conference’s co-hosts, urged the FDA to put out guidance to address issues such as whether indication extrapolation would be allowed and how the biosimilars will be named, SPN reported. He also said it will be important to know how CMS will reimburse for these drugs. “Many biosimilars are administered in a doctor’s office,” he said, “so how CMS chooses to reimburse for them will be crucial in their uptake.”
The FDA’s Sally Howard, deputy commissioner for policy, planning and legislation, said the agency is of the opinion that “no additional guidance is needed before a product [can be] approved,” also asserting that the six draft guidances FDA has released so far should help “the industry to understand the data they’ll need to submit to demonstrate biosimilarity,” SPN reports. David Gaugh, senior vice president of sciences and regulatory affairs for the Generic Pharmaceutical Association, agreed with Howard’s sentiments, saying that the draft guidance “gives us the end goal we need to get to.…I think we’ll see several filings in the coming months.”
Visit http://aishealth.com/archive/nspn1214-02 to read the article in its entirety, including commentary from executives at America’s Health Insurance Plans and the Generic Pharmaceutical Association.
About Specialty Pharmacy News
Specialty Pharmacy News is a monthly newsletter packed with business news and management strategies for containing costs and improving outcomes related to high-cost specialty products. Designed for health plans, specialty pharmacies, PBMs, pharma companies, providers and employers, the hard-hitting newsletter contains valuable insights into benefit design tactics, specialty markets for certain conditions, formulary decisions, merger and acquisition activity, payer-provider partnerships, patient adherence strategies, and new products. Visit http://aishealth.com/marketplace/specialty-pharmacy-news for more information.
About AIS
Atlantic Information Services, Inc. (AIS) is a publishing and information company that has been serving the health care industry for more than 25 years. It develops highly targeted news, data and strategic information for managers in hospitals, health plans, medical group practices, pharmaceutical companies and other health care organizations. AIS products include print and electronic newsletters, websites, looseleafs, books, strategic reports, databases, webinars and conferences. Learn more at http://AISHealth.com. Reported by PRWeb 20 hours ago.
Washington, DC (PRWEB) December 17, 2014
The December issue of Atlantic Information Services, Inc.’s (AIS) Specialty Pharmacy News (SPN) offers coverage of a recent conference on biosimilars, drugs that are highly similar to and less expensive than brand-name biologic drugs and use an abbreviated pathway for the Food and Drug Administration’s (FDA) approval. At Rx Innovation: A Discussion on Biosimilars, Patient Access & Affordability, representatives and stakeholders from across the health care industry – from government officials to executives from pharmaceutical companies — focused particularly on the status of the FDA’s biosimilars guidance, with all panelists urging the FDA to issue final regulations on biosimilars.
Speaking at the conference, Sen. Richard Blumenthal (D-Conn.) and Rep. Gus Bilirakis (R-Fla.) expressed bipartisan support for biologics, SPN reports. Sen. Blumenthal called biosimilars “a tremendously important and profoundly significant subject to the future of medicine in the U.S. and to our health.” Rep. Bilirakis agreed, saying, “It benefits companies, the FDA and most importantly the patient if the FDA provides clear guidance on the issue.” The drugs “have had remarkable international success,” Rep. Bilirakis continued, and in Europe and Asia have “reduced treatment costs by 40%....Competition lowers prices. It’s the free market at work.”
Steve Miller, M.D., senior vice president and chief medical officer for Express Scripts, one of the conference’s co-hosts, urged the FDA to put out guidance to address issues such as whether indication extrapolation would be allowed and how the biosimilars will be named, SPN reported. He also said it will be important to know how CMS will reimburse for these drugs. “Many biosimilars are administered in a doctor’s office,” he said, “so how CMS chooses to reimburse for them will be crucial in their uptake.”
The FDA’s Sally Howard, deputy commissioner for policy, planning and legislation, said the agency is of the opinion that “no additional guidance is needed before a product [can be] approved,” also asserting that the six draft guidances FDA has released so far should help “the industry to understand the data they’ll need to submit to demonstrate biosimilarity,” SPN reports. David Gaugh, senior vice president of sciences and regulatory affairs for the Generic Pharmaceutical Association, agreed with Howard’s sentiments, saying that the draft guidance “gives us the end goal we need to get to.…I think we’ll see several filings in the coming months.”
Visit http://aishealth.com/archive/nspn1214-02 to read the article in its entirety, including commentary from executives at America’s Health Insurance Plans and the Generic Pharmaceutical Association.
About Specialty Pharmacy News
Specialty Pharmacy News is a monthly newsletter packed with business news and management strategies for containing costs and improving outcomes related to high-cost specialty products. Designed for health plans, specialty pharmacies, PBMs, pharma companies, providers and employers, the hard-hitting newsletter contains valuable insights into benefit design tactics, specialty markets for certain conditions, formulary decisions, merger and acquisition activity, payer-provider partnerships, patient adherence strategies, and new products. Visit http://aishealth.com/marketplace/specialty-pharmacy-news for more information.
About AIS
Atlantic Information Services, Inc. (AIS) is a publishing and information company that has been serving the health care industry for more than 25 years. It develops highly targeted news, data and strategic information for managers in hospitals, health plans, medical group practices, pharmaceutical companies and other health care organizations. AIS products include print and electronic newsletters, websites, looseleafs, books, strategic reports, databases, webinars and conferences. Learn more at http://AISHealth.com. Reported by PRWeb 20 hours ago.
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Millions of Marketplace Enrollees Have Tough Purchasing Decisions Ahead - An Online Tool Is Here to Help
WASHINGTON, Dec. 17, 2014 /PRNewswire-USNewswire/ -- With 25 percent more issuers participating in the health insurance marketplace this year, an expected 10.5 million enrollees will have more options and tougher decisions to make when shopping for a health plan. While many people...
Reported by PR Newswire 20 hours ago.
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New Obamacare enrollments in California top 144,000
California's health insurance exchange said 144,178 people have newly enrolled in Obamacare coverage during the first month of sign ups.
Reported by L.A. Times 19 hours ago.
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Exchange withholds payments to contractor Deloitte over glitches
Washington state's health insurance exchange is withholding payments to its primary technology contractor, Deloitte, as a result of repeated problems with the Washington Healthplanfinder website and the exchange's payments and accounts systems.
Reported by Seattle Times 18 hours ago.
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MNsure signups: New plans outpace renewals
Nearly 14,000 Minnesotans have signed up for coverage through the state's health insurance exchange for the first time.
Reported by TwinCities.com 18 hours ago.
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MNsure enrollments rise as extended deadline nears
Nearly 24,000 Minnesotans have purchased or renewed private health insurance coverage through MNsure since open enrollment began on Nov. 15, officials announced Wednesday.
Reported by TwinCities.com 17 hours ago.
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Applications mount faster this year at Covered California
Almost 593,000 people applied for private health insurance or Medi-Cal during the first month of open enrollment at Covered California, program officials announced Wednesday. A total of 301,539 applications for private health insurance have been received since the sign-up period began Nov. 15. More than 144,000 of these applicants also picked a health plan. That's a faster pace than the 109,296 plans selections during the first two months of open enrollment last year. Applications for Medi-Cal…
Reported by bizjournals 17 hours ago.
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Engaged Employees: Your Company's No. 1 Competitive Advantage
If you asked 100 CEOs what their company's competitive advantage is, how do you think they'd respond? A few might say they make a superior quality product, or they've got a bulletproof business model. I'm willing to bet, however, that the majority of the CEOs of leading organizations would say it's their people -- and although that may seem like a soft answer, it's true -- and anything but soft.
Think about it. No matter how good your product is, you still need a stellar team to design it, build it, improve it, sell it and service it. No matter how solid your business model, you need great people to back it up and deliver on your company's promise to your stakeholders.
If that's the case -- that employees are the secret sauce behind any successful business -- then why do so many leaders have a "set it and forget it" mentality when it comes to their workforce? If our people are our biggest asset, why isn't every leader trying their hardest to set their employees up for success?
*Measuring engagement*
According to the Boston Consulting Group, "people" companies -- those the firm categorizes as having good people practices -- have a competitive advantage that can be backed up by solid results. Companies that have made the "100 Best Places to Work" list for three or more years outperformed the S&P 500 in eight out of 10 years -- and over a decade, they cumulatively beat the S&P 500 by 99 percentage points.
What's more, companies with high engagement scores perform much better than those with low scores in key operational areas like productivity, absenteeism, turnover, safety and quality incidents, shrinkage, customer metrics, and profitability, according to Gallup. CEOs care about and are measured against these very real numbers, so it's no wonder they're taking aim and launching initiatives to boost employee engagement. In fact, CEOs say "increasing employee engagement" is their number one strategic priority, according to a 2013 Conference Board survey. But there's room for improvement in how their companies are going about it.
Most companies measure employee engagement -- loosely defined for our purposes, as "feeling the love" for and from their company -- through a yearly online survey. These surveys ask questions about how employees feel about their work, their coworkers and the company as a whole. And while employees may be responding to the surveys, something's not right: Just 30 percent of U.S. workers are engaged according to Gallup's annual poll, meaning the rest of our employees -- 70 percent -- aren't engaged and aren't reaching their full potential. That disengagement rate -- which is even higher globally -- costs U.S. companies between $450 and $550 billion each year, Gallup estimates.
Many have tried, but unfortunately few seem to know how to fix the problem. To get to the root of it, start by considering people's motivation to show up at work in the first place.
*Why do we work?*
Most people work to fulfill their basic needs. Let's take a moment to go back to your Psych 101 days and re-visit Maslow's hierarchy of needs, a generally accepted theory about human nature that ranks aspects driving motivation. The list ranks in order of importance:· Physiological needs (food and shelter)· Safety (security, employment, health)· Love and belonging· Self esteem, confidence and achievement· Self-actualization (creativity, problem-solving)
At the most basic level, we work to put a roof over our heads and food on the table -- fulfilling our fundamental physiological needs. Moving down the list, our employment also delivers a sense of security and safety with a steady income that helps us meet the first two needs. It drives our health too, since most people are able to pay for health care using health insurance provided by their employer. This brings us to the remaining aspects, which are a bit harder to measure. Are love, belonging, esteem and self-actualization things that employers should worry about?
The answer is yes. Before they can become engaged, employees first need to be engageable. If they're overwhelmed, stressed out, or feeling disconnected and unappreciated, their healthy habits are going to go right out the window. And that's exactly what we're seeing. Americans are unhealthier than ever. We're not exercising enough, eating right, or taking care of ourselves as we should.
*The connection between health and engagement*
People are putting healthy habits on the back burner because they're squeezed for time. And when we ask our employees to do more with less, to be accessible 24/7, to respond to emails the moment they hit their inboxes, they're sacrificing their personal priorities to do so. When people put their healthy habits on the back burner, it's impossible to even be able to engage, let alone thrive. Think about the days where you skip your workout or hit the drive-thru for lunch. Your energy bottoms out, and you're less productive and motivated. How about those days when you've only had a measly four hours of sleep? Consider that effect across your workforce and how much productivity or good decision-making happens as a result. Less than you'd like, I'm sure.
To truly drive engagement, we've got to put employees back in the driver's seat of their own lives. Show them your company cares about and appreciates them by supporting their healthy habits and help them be their best selves. Once they're feeling great and have that support in all areas of life they'll be more productive and ready to thrive. They'll move beyond fulfilling just their basic needs, to achieving the intangible yet critical ones as well. Help them in meeting all of their needs, and you'll find yourself with more energetic, focused and driven employees who want to come to work and give each day their A-game.
Stay tuned for part two on how to hire the right employees and set them up for success. Reported by Huffington Post 15 hours ago.
Think about it. No matter how good your product is, you still need a stellar team to design it, build it, improve it, sell it and service it. No matter how solid your business model, you need great people to back it up and deliver on your company's promise to your stakeholders.
If that's the case -- that employees are the secret sauce behind any successful business -- then why do so many leaders have a "set it and forget it" mentality when it comes to their workforce? If our people are our biggest asset, why isn't every leader trying their hardest to set their employees up for success?
*Measuring engagement*
According to the Boston Consulting Group, "people" companies -- those the firm categorizes as having good people practices -- have a competitive advantage that can be backed up by solid results. Companies that have made the "100 Best Places to Work" list for three or more years outperformed the S&P 500 in eight out of 10 years -- and over a decade, they cumulatively beat the S&P 500 by 99 percentage points.
What's more, companies with high engagement scores perform much better than those with low scores in key operational areas like productivity, absenteeism, turnover, safety and quality incidents, shrinkage, customer metrics, and profitability, according to Gallup. CEOs care about and are measured against these very real numbers, so it's no wonder they're taking aim and launching initiatives to boost employee engagement. In fact, CEOs say "increasing employee engagement" is their number one strategic priority, according to a 2013 Conference Board survey. But there's room for improvement in how their companies are going about it.
Most companies measure employee engagement -- loosely defined for our purposes, as "feeling the love" for and from their company -- through a yearly online survey. These surveys ask questions about how employees feel about their work, their coworkers and the company as a whole. And while employees may be responding to the surveys, something's not right: Just 30 percent of U.S. workers are engaged according to Gallup's annual poll, meaning the rest of our employees -- 70 percent -- aren't engaged and aren't reaching their full potential. That disengagement rate -- which is even higher globally -- costs U.S. companies between $450 and $550 billion each year, Gallup estimates.
Many have tried, but unfortunately few seem to know how to fix the problem. To get to the root of it, start by considering people's motivation to show up at work in the first place.
*Why do we work?*
Most people work to fulfill their basic needs. Let's take a moment to go back to your Psych 101 days and re-visit Maslow's hierarchy of needs, a generally accepted theory about human nature that ranks aspects driving motivation. The list ranks in order of importance:· Physiological needs (food and shelter)· Safety (security, employment, health)· Love and belonging· Self esteem, confidence and achievement· Self-actualization (creativity, problem-solving)
At the most basic level, we work to put a roof over our heads and food on the table -- fulfilling our fundamental physiological needs. Moving down the list, our employment also delivers a sense of security and safety with a steady income that helps us meet the first two needs. It drives our health too, since most people are able to pay for health care using health insurance provided by their employer. This brings us to the remaining aspects, which are a bit harder to measure. Are love, belonging, esteem and self-actualization things that employers should worry about?
The answer is yes. Before they can become engaged, employees first need to be engageable. If they're overwhelmed, stressed out, or feeling disconnected and unappreciated, their healthy habits are going to go right out the window. And that's exactly what we're seeing. Americans are unhealthier than ever. We're not exercising enough, eating right, or taking care of ourselves as we should.
*The connection between health and engagement*
People are putting healthy habits on the back burner because they're squeezed for time. And when we ask our employees to do more with less, to be accessible 24/7, to respond to emails the moment they hit their inboxes, they're sacrificing their personal priorities to do so. When people put their healthy habits on the back burner, it's impossible to even be able to engage, let alone thrive. Think about the days where you skip your workout or hit the drive-thru for lunch. Your energy bottoms out, and you're less productive and motivated. How about those days when you've only had a measly four hours of sleep? Consider that effect across your workforce and how much productivity or good decision-making happens as a result. Less than you'd like, I'm sure.
To truly drive engagement, we've got to put employees back in the driver's seat of their own lives. Show them your company cares about and appreciates them by supporting their healthy habits and help them be their best selves. Once they're feeling great and have that support in all areas of life they'll be more productive and ready to thrive. They'll move beyond fulfilling just their basic needs, to achieving the intangible yet critical ones as well. Help them in meeting all of their needs, and you'll find yourself with more energetic, focused and driven employees who want to come to work and give each day their A-game.
Stay tuned for part two on how to hire the right employees and set them up for success. Reported by Huffington Post 15 hours ago.
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Colorado health insurance exchange signs up 136,315 in first month
Colorado's health insurance exchange reported Wednesday that in the first month of open enrollment for 2015, it signed up 108,077 people for private plans and 27,306 for Medicaid.
Reported by Denver Post 15 hours ago.
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