Health and welfare benefits administration and insurance industry leaders collaborate to provide Dearborn National Benefits Administration: Powered by Empyrean.

Houston, Texas (PRWEB) February 10, 2015

Dearborn National today announced a partnership with Empyrean Benefit Solutions, Inc. to offer integrated employee benefits technology and services to Dearborn National’s clients and their workforces. Dearborn National chose to partner with Empyrean to leverage their advanced software platform, unparalleled customer service and reputation for innovation.

Dearborn National has long been an industry leader, responding proactively to market changes and the evolving needs of their customers. With many companies now exploring new benefit plans that offer their employees various options for coverage, Dearborn National sought a solution that allows them to provide a broad range of benefits administration services, the ability to integrate with third-party providers, and a seamless customer experience.

Scott Morgan, Dearborn National’s Vice President of Business Development and Technology, explains, “We wanted to offer businesses of all sizes a complete benefits administration solution that can flex with the unpredictable nature of the employee benefits landscape and our clients’ needs.”

Keith Wilson, Empyrean’s Executive Vice President of Partner Solutions, adds, “Empyrean is proud to partner with Dearborn National and provide the technology and team to deliver an exceptional benefits experience for Dearborn National’s customers today and in the future.”

About Dearborn National®
Dearborn National is the ancillary subsidiary of Health Care Service Corporation. HCSC is the largest non-investor owned health care insurer in the United States and the fourth largest overall. With 46 years of experience, Dearborn National offers a broad selection of insurance products, including Group Benefits (employer-paid/voluntary), Worksite and Individual, as well as an array of enhanced product services. We are licensed in all 50 states, as well as the District of Columbia, the U.S. Virgin Islands, the British Virgin Islands, Guam and Puerto Rico. Learn more at http://www.dearbornnational.com.

About Empyrean
Empyrean Benefit Solutions is one of the fastest-growing providers of technology and services for managing health and benefits programs. Empyrean provides enrollment, eligibility management, ACA services and compliance, as well as a range of other plan administration services to employers, insurance brokers, and healthcare exchanges. Known for delivering innovative benefits administration solutions, Empyrean has focused on developing a simpler but smarter technology platform, packaged with world-class customer service that enables brokerage firms and insurance companies to utilize Empyrean’s technology to bring the latest consumer support services such as health insurance exchanges to market more quickly. Learn more at http://www.goempyrean.com. Reported by PRWeb 6 hours ago.

Underground Elephant, the nation’s premier direct response Internet marketing company, is proud to announce that the San Diego Business Journal honored Jason Kulpa as the Most Admired CEO in the category of privately-held, medium-size company. This marks Jason’s second win, and fifth finalist nomination, for the distinguished award as Underground Elephant's founder and CEO.

San Diego, California (PRWEB) February 10, 2015

This year the San Diego Business Journal (SDBJ) received a record number of entries for the program, with 131 finalists vying for an award on January 28, 2015. Winners were selected by an independent panel of judges, ranking nominations based on CEOs’ contributions to their companies and the community, with an emphasis on innovation, leadership, and financial growth. As the CEO of Underground Elephant, Jason Kulpa was exemplary on all fronts in 2014.

SDBJ highlighted Underground Elephant's financial achievements under Jason’s leadership, including the company’s three consecutive appearances on the Fastest Growing Private Companies list, a 1,275% five-year growth rate, as well as ranking as the largest advertising agency—and 34th largest privately-held company—in San Diego. On the national stage, Inc. 5000 is an exclusive ranking of the nation’s fastest-growing private companies. Underground Elephant ranked #695 on the Inc. 5000 list—and #13 in San Diego—with a three-year growth rate of 659%.

Underground Elephant’s rapid growth is being bolstered by the continued diversification of products and services, including the national rollout of an innovative lead marketplace. Such financial growth and diversification has driven substantial job creation as well. Jason expanded the Underground Elephant team from 20 employees in 2009, to 60 in 2011, and now to 100 in 2015.

Year over year, these milestones are reached because of Jason’s uncanny ability to inspire innovation and teamwork. In addition to exceptional benefits and countless perks, all Underground Elephant employees are part of a Stock Option Bonus Program, incentivizing unparalleled performance and collaboration across all business units—an invaluable benefit to employees, the company, and its Fortune-1000 clients. In addition to expanded financial opportunities for his employees, their personal development is fundamental to Jason as well, and that is why he enlisted the help of boxing’s three-time world champion, Paul Vaden. Now the company’s Champion in Residence, Paul provides regular mentorship and training to all Underground Elephant employees.

Commitment to the community is one of Underground Elephant’s core values, and Jason has led by example. Jason sits on the boards of the Downtown San Diego Partnership, Connect.org, and the San Diego Humane Society. He is a member of the San Diego Police Foundation, the San Diego Regional Chamber of Commerce, the Young President’s Organization, and the Young Entrepreneur Council. He is also an active supporter of the San Diego State Athletics program. Thanks to Jason’s unwavering commitment to fostering a truly progressive company culture, Underground Elephant was named one of the Top-10 Coolest Companies to Work For in San Diego by O.C. Tanner, the Top-10 Best Places to Work in San Diego by SDBJ, and the 101 National Best and Brightest Companies to Work For.

Jason’s personal values have also inspired employee-led programs within Underground Elephant, including an initiative called Serving Those Who Serve Our Community. The company's partnerships with local community organizations—including Make-a-Wish San Diego, the American Red Cross, Feeding America, Operation Home Front, Habitat for Humanity, The Monarch School, the San Diego Police Foundation, and the Humane Society—compelled the American Business Awards to chose Underground Elephant as the recipient of the prestigious Gold Stevie for Best Corporate Social Responsibility Program of 2014.

Although Jason and Underground Elephant are honored by the San Diego Business Journal’s recognition, this award is also a signal of support for Downtown San Diego’s emerging innovation ecosystem, especially its Internet technology companies. Furthermore, San Diego’s elected officials—Mayor Kevin Faulconer, City Council, Speaker Toni Atkins, and Congressman Scott Peters—continue to engage these locally-based businesses, helping to rally technology companies around common causes that benefit the entire community, including the creation of competitive, high-paying careers in a vibrant, bustling Downtown San Diego.

“In recent years, I’ve noticed marked growth within the Downtown San Diego business community—and it’s a trend that is quickly gaining momentum,” said Jason Kulpa. “A lot of great companies and fantastic CEOs were nominated for this award. To me, this is actually more of a win for my employees as well as for the Downtown San Diego business community.”

Underground Elephant is a performance-based provider of online-marketing technology and customer acquisition solutions. Servicing multiple industries, including auto insurance, post-secondary education, health insurance and home services, Underground Elephant provides cloud-based SaaS marketing technology and platforms that deliver qualified calls, clicks and leads. Reported by PRWeb 6 hours ago.

As this year’s deadline to sign up for Obamacare fast approaches, California State University officials are trying to show students that buying health insurance makes financial sense. Reported by L.A. Times 5 hours ago.

This piece comes to us courtesy of Stateline. Stateline is a nonpartisan, nonprofit news service of the Pew Charitable Trusts that provides daily reporting and analysis on trends in state policy.
If the U.S. Supreme Court strikes down tax credits for people buying health insurance on the federal exchange, about 8.2 million Americans in 34 states could lose their coverage under the Affordable Care Act. Most of the people likely to be affected are white, employed, and low- to middle-class. They also are concentrated in a single region of the country: the South.* *

Health insurance rates in those states are expected to rise by as much as 35 percent, which may make coverage unaffordable even for those who don’t qualify for tax credits. Some believe that if the tax credits are disallowed by the Supreme Court, the underpinnings of President Barack Obama’s signature health care law would collapse.

“It will be a horror movie if (the credits are struck down),” said Georges Benjamin, executive director of the American Public Health Association, which supported passage of the ACA.

At issue in King v. Burwell, scheduled for oral arguments next month, is whether people in states that use the federal government’s exchange (Healthcare.gov) to buy insurance are eligible for federal subsidies in the form of tax credits to help them pay their premiums.

The case hinges on the fact that the ACA provision governing tax credits refers to people enrolled “through an Exchange established by the State,” without mentioning the federal exchange. The ACA anticipated that all states would create their own state exchanges, but it allowed states that did not want to set up their own exchanges to use the federal one instead.

The lawsuit originated at a 2010 meeting of conservative lawyers convened by the American Enterprise Institute to explore “legal vulnerabilities” in the ACA. After the lawyers identified the tax credit as a promising point of attack, a related right-leaning group, the Competitive Enterprise Institute (CEI), found four Virginia plaintiffs to launch the lawsuits (King v. Burwell consolidated them). According to its website, CEI is coordinating and financing the legal effort.

Opponents—including the drafters of the original law, 21 states and the District of Columbia—say that whatever the exact language of the statute, Congress did not intend to make any distinction between federal and state exchanges when it came to tax credits. When questions were raised about the language, the IRS announced in 2011 it would issue the credits in states with federal exchanges, too.

In the 34 states where people use the federal exchange, an estimated 9.3 million people are expected to receive $36.1 billion in tax subsidies in 2016. A recent analysis by the Robert Wood Johnson Foundation and the Urban Institute estimated that if the Supreme Court blocked these subsidies, 8.2 million of these residents would not be able to find affordable health insurance in 2016.

“(A King win) disenfranchises millions of Americans from affordable health coverage, most of them working people,” said Trish Riley, executive director of the National Academy for State Health Policy.

Not the Poor

Of those 8.2 million, the study found, 61 percent are non-Hispanic whites, 62 percent live in the South, 71 percent work at least part time and 82 percent are considered, by federal measures, to be low- or middle-income rather than poor. The tax credits are available for people with incomes between 138 percent and 400 percent of the federal poverty level. For a family of four, the eligible income range is between $31,721 and $95,400.

In 2014, the first year the exchanges were open, the Obama administration reported that 87 percent of the 5.4 million Americans who chose a health plan through the federal health exchange were eligible for some financial help. Those who qualified for tax credits on the federal exchange paid an average of $82 a month in premiums for their coverage, which was about one-fourth of what they would have paid without the federal assistance.

But even people who don’t qualify for the tax credits would be affected by their disappearance.  Because many of the people who receive the credits are relatively healthy, their departure from the insurance pool would lead to a 35 percent increase in premiums, according to the report.  That increase would make coverage unaffordable for about a quarter of the 4.9 million Americans who bought insurance on the federal exchange without a tax credit.

The Supreme Court’s ruling in King v. Burwell will not affect tax credits in the 13 states and the District of Columbia which operate their own exchanges. Nor would it affect the three states—Nevada, New Mexico and Oregon—which have federally supported, state-based exchanges, that perform all of the functions of a state exchange while relying on the federal government for technology support.

Many of the states that declined to create their own insurance exchanges were expressing their opposition to the Affordable Care Act. However some of them, such as Delaware, decided they didn’t have the technical capacity to create one.

States Join Case

A number of the states which rely on the federal exchange, including Iowa, Maine, Mississippi, North Carolina and Pennsylvania, joined in a legal brief filed by Virginia (another state without its own exchange) opposing the plaintiffs in the lawsuit. Other states which do have their own exchanges, such as California, Maryland and New York, also signed on, fearing the disruptions that would occur in their insurance markets if the credits are struck down. Their concern is that because most of the insurance companies that sell policies on the federal exchanges are national companies, the withdrawal of millions of relatively healthy people from the insurance pool would have a spillover effect in states with their own exchanges.

In his brief, Virginia Attorney General Mark Herring argued that when states weighed whether to create their own exchanges, there was no indication policyholders from those states would be denied federal tax credits if the states used the federal exchange.

If the credits are struck down, Herring said, not only would millions of citizens in those states be priced out of affordable health insurance, but the insurance marketplaces in those states “would be rendered dysfunctional.”

In its amicus brief, America’s Health Insurance Plans (AHIP), a trade association representing the health insurance industry, said insurers would not only lose millions of customers, but they would lose so many young and healthy customers that premiums for others would soar to unsustainable rates. “It would leave consumers in those states with a more unstable market and far higher costs than if the ACA had not been enacted,” the brief said.

Other states, including Alabama, Georgia, Nebraska, South Carolina and West Virginia, signed on to an amicus brief from Oklahoma in support of the plaintiffs. The brief by E. Scott Pruitt, Oklahoma’s attorney general, argues that the tax credit was meant as an enticement for states to create their own exchanges.

States that chose not to do so, Pruitt argued, understood that their citizens would not be eligible for the tax credits. Other federal programs, Pruitt wrote, including No Child Left Behind and the Children’s Health Insurance Program, also condition federal dollars on certain state activities. **

**

A Congressional Fix?

**

Congress could provide a fix, but no one believes that Republicans and Democrats could agree on a solution. That leaves the states to step in, but they may not have the time, resources, technical ability or political will to prevent large-scale disruption.

States now using the federal exchange could try to convert to state exchanges. But some states, such as Missouri, Montana and North Carolina, have passed legislation prohibiting the creation of a state exchange, and the Republican governors and legislatures in many of those states may still object to taking any steps to support the ACA.

There are nonpolitical problems as well. The ACA provided nearly $5 billion in federal financial assistance for states that built their own exchanges prior to 2014. That money is no longer available. States would have to spend tens of millions of dollars of their own money to develop their own exchanges.

Timing is also a factor. Presuming the Supreme Court’s ruling comes in June as anticipated, states would have only five months to build sophisticated insurance operations and websites. By the time the first state exchanges opened in 2013, a number of states, including Maryland, Vermont and Oregon among others, had already devoted years to fashioning their systems, and those still failed spectacularly in the first year of operation.

The seven states that operate exchanges in partnership with the federal government – Arkansas, Delaware, Illinois, Iowa, Michigan, New Hampshire and West Virginia – may have an easier time. Those states already handle some exchange responsibilities, such as consumer assistance, and may be able to assume the rest. Arkansas already has plans to launch its own exchange in 2017, although that would be a year late for the 95,000 Arkansans who would lose their federal tax credit for next year.

Theoretically, it’s possible that states could switch to a state exchange. But Sara Rosenbaum, a professor of health law and policy at the Milken Institute School of Public Health at the George Washington University, said it wouldn’t be easy. “There is no assurance of that because it takes money, it takes technology,” said Rosenbaum, who worked on an amicus brief siding with the Obama administration on behalf of the deans of university schools of public health.

What would happen to the 8.2 million who could lose their health insurance is unclear. They could turn to the charity of hospitals for health care, although hospitals receive far less federal money for such care than they did before implementation of the ACA. The sharp reduction in patients with insurance also would cost doctors, perhaps forcing some of them to close their practices, according to Benjamin of the American Public Health Association.

Some worry the ACA, which is designed to provide affordable health care coverage to the vast majority of Americans, would collapse if the federal tax subsidies are not available everywhere. Without the tax credits, said Rosenbaum, the entire package of reforms that constitutes the ACA “would be unthinkable.” Reported by Huffington Post 2 hours ago.

Top cybersecurity analysts have begun linking the recent Anthem data breach to the one at Community Health Systems (CHS) less than 6 months ago.

Analysis of open source information on the cybercriminal infrastructure likely used to siphon 80 million Social Security numbers and other sensitive data from health insurance giant Anthem suggests the attackers may have first gained a foothold in April 2014, nine months before the company says it discovered the intrusion. Brian Krebs ‒ Anthem Breach May Have Started in April, 2014

From that assessment, another analyst suggested the timeline does support the possibility that the recent Anthem breach was another case of the Heartbleed Bug ‒ a well documented (and exploited) computer vulnerability that dates back to 2011. The major fix to Heartbleed was released just last year ‒ in April ‒ which is when the bug was discovered and made known globally. Since then, millions of websites have yet to make the necessary fix ‒ and Anthem could be yet another big Heartbleed casualty.

While this is all purely speculation – there are a number of similarities between the two breaches and appear to have occurred just days between each other. Could this be the exact same group and technique that hit CHS many months ago? Time will tell. Anthem Hacked by Heartbleed? David Kennedy ‒ CEO and Founder, TrustedSec

There are other possibilities as well, and while we may never know all the details, at least one security analyst doesn't think the data breach at Anthem was necessarily all that sophisticated.

Because it was clearly pre-meditated and because the attackers spent time identifying the vulnerabilities, it definitely qualifies as well executed, but once the initial intrusion was successful, they didn't have too far to look. By gaining admin credentials to the database there was nothing ‒ including encryption ‒ to stop the attack. The only thing that did stop it was a lucky administrator who happened to be paying attention at the right time." Ken Westin - Senior Security Analyst at Tripwire

The word itself ‒ sophisticated ‒ is quickly becoming standard issue for characterizing large data breaches of every kind ‒ including this latest round of mega healthcare breaches less than 6 months apart. Last week it was Anthem, Inc., the largest for‒profit managed health company in the Blue Cross Blue Shield Association.

However, despite our efforts, Anthem was the target of a very sophisticated external cyber attack. Joseph R. Swedish, President and CEO of Anthem, Inc. February 4, 2015

Less than 6 months ago ‒ the CHS breach of 4.5 million patient records also made headlines and also elected to blame "highly sophisticated malware" for the breach.

The Company and its forensic expert believe the attacker was an “Advanced Persistent Threat” group originating from China who used highly sophisticated malware and technology to attack the Company’s systems. Community Health Systems, Inc. ‒ SEC Form 8‒K filing ‒ August 18, 2014

The Sony data breach  last December (which included health information of both employees and dependents) didn't use the word "sophisticated," but the description of the attack by their security contractor was equally forceful.

This attack is unprecedented in nature. The malware was undetectable by industry standard antivirus software and was damaging and unique enough to cause the FBI to release a flash alert to warn other organizations of this critical threat. The bottom line is that this was an unparalleled and well planned crime, carried out by an organized group, for which neither SPE nor other companies could have been fully prepared. Kevin Mandia letter to SPE CEO Michael Lynton CSO Online

Veteran security analysts saw the Sony breach (and Kevin Mandia's letter to Sony's CEO) with healthy skepticism.

Adam Caudill, an independent security researcher, has doubts about the description of the attack as "unprecedented" and "unparalleled" that came from Mandia and Sony. To protect their image, they need this to be an unpreventable, incredibly sophisticated attack. Caudill explained that making undetectable malware is not particularly hard. Even if they couldn't detect the malware, they should have detected the unusual activity. You don't steal such a large amount of data without raising some red flags ‒ the question is, was anyone watching? This wasn't a smash-and-grab-type attack that was pulled off quickly, to have penetrated the network so completely, the attackers had clearly been at it for some time. Adam Caudill ‒ Mashable ‒ December, 2014

The reality is that these large, publicly traded corporations have a very real need to paint an image of "unprecedented,""undetectable" and "unparalleled." It's called negligence and the class action lawsuits against Anthem have already been filed in 4 states (Indiana, California, Alabama and Georgia). Similar class actions against CHS were also filed last August (here and here). Reported by Forbes.com 23 hours ago.

*Why you shouldn't give your doctor your Social Security number*

You’re filling out a pile of forms at the local hospital or when seeing a physician. You jot down your name, address, and insurance information. Then you come to a space for your Social Security number. Should you fill in those precious nine digits? If it’s your doctor or hospital asking, the answer is “No!” But it’s not so simple if you have Medicare or the question comes from your health insurance company. Here’s what you need to know.

-*Health care providers: Just say no*-

Doctors, hospitals, and other health care providers may want your Social Security number to help with debt collection in the case of a problem with your insurance company or an unpaid copay. But you’re under no obligation to hand over that information.

“There’s really no reason to give your doctor or hospital your Social Security number,” says Consumer Reports medical adviser Orly Avitzur, M.B.A., M.D.,  whose office stopped asking patients for their numbers about three years ago. “Insurers have your unique subscriber number and that’s what we use to submit claims.”

And there’s good reason to keep your Social Security number away from health care providers, says Paul Stephens, director of policy and advocacy at the nonprofit Privacy Rights Clearinghouse in San Diego. Giving up your Social Security number, which Stephens likens to the “keys to the kingdom,” can easily compromise your privacy and security if your medical records are stolen, as in the case of the recent hack of the health insurance companies of Anthem, Inc.  “Both small and large providers may not have adequate security protocols to protect it,” he says. “And in the medical area you have a double whammy—medically sensitive and financially sensitive information.”

*CR’s advice: *If a health care provider asks for your Social Security number:

· Leave the area on the form blank. Often, the provider won't even ask or notice.
· If they do, consider what Stephens often says: “I explain that I’m concerned about identity theft and prefer not to reveal my Social, except in those situations where it’s mandated by law.” If you feel pressured, consider choosing another facility or doctor, if you can. Some folks offer just the last four digits of their number.

*Read the "Paranoid Guide to Digitial Security" and our guide to Internet security.*

-*Medicare patients: Guard your ID card*-

People on Medicare, however, have no choice but to share their Social Security numbers with doctors and hospitals. That’s because your Medicare ID is your Social Security number (followed by a code)—it’s right on your Medicare card for the world to see. There have been attempts over the past few years to remove Social Security numbers from Medicare cards; a new bill, the Medicare Identity Theft Prevention Act of 2015, was introduced just weeks ago.

*CR’s advice:* If you're on Medicare, you still have to share your Social Security number with your health care providers (in the form of your Medicare card), so they can get paid by Medicare. But you can get some protection by making a copy of your original card and, after the first visit, blacking out all but the last four digits of your Social Security number. That way you won’t have to carry around your original card, with your complete Social Security number, at all times.

-*Insurance companies: You’re out of luck*-

Insurance companies do have a right to ask for your Social Security number, whether you get insurance through your employer or you bought an Obamacare plan through a state or federal marketplace.

Federal law—in the form of the Mandatory Insurer Reporting law—instructs group plan issuers to report Social Security numbers to the Centers for Medicare and Medicaid Services for subscribers and covered dependents. The ostensible reason: to cut down on payment errors and possible fraud.

The Affordable Care Act also provides no relief on this front. People who apply for insurance under the ACA are asked to provide Social Security numbers for everyone in their household—particularly adult, tax-filing family members whose  earnings can be used to check your household’s eligibility for an insurance subsidy. The only exceptions: legal immigrants who don’t have a Social Security number. (The ACA has other requirements for them).

*CR’s advice:* If you get insurance through your employer, you could ask if you really need to provide the information. “We’ve heard anecdotally that if customers refuse, there may be no consequences,” Stephens says. But if you’re applying for a marketplace plan, refusing to provide the information may interfere with signup.

—Diane Umansky

*Consumer Reports has no relationship with any advertisers on this website. Copyright © 2006-2015 Consumers Union of U.S.*

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    Reported by Consumer Reports 19 hours ago.

As this year's deadline to sign up for Obamacare fast approaches, California State University officials are trying to show students that buying health insurance makes financial sense. Reported by L.A. Times 18 hours ago.

Pennsylvania’s new Democratic governor is moving to expand the health insurance program for the poor, while similar plans by Republican governors in Tennessee and Wyoming were rejected. Reported by NYTimes.com 17 hours ago.

Following its recent expansion into Calabasas and Woodland Hills, the Southern California drug rehab center releases the first of several upcoming videos.

Los Angeles, CA (PRWEB) February 11, 2015

NuLife Treatment Center, based out of Los Angeles, California, announced this week the launch of its first of several in a series of informational videos relating to the treatment of drug and alcohol addiction. Having built its reputation on a variety of untapped, yet increasingly effective components within the scope of residential treatment, the video aims to shed light on a number of key program elements unseen by the general public.

Exuding a humble yet powerful delivery, the six and a half minute video embraces a number of core operational and clinical beliefs which undoubtedly account for the program’s overall success.

Having opened in early 2014 with residential and outpatient locations in Woodland Hills, CA, the NuLife program launched in an unusually strong capacity manifesting in its first waiting list a mere 5 months into operations. Capitalizing on its unique and unfettered approaches, the program is currently in expansion into Calabasas, CA, and is effectively carving its fresh methodologies into Southern California’s hub of highly acclaimed facilities.

Says NuLife Co-founder and Director of Development & Operations, JD Meints, “The NuLife experience transcends the various clinical and ancillary elements and really taps into that core human passion, that sense of love of life and directional purpose that drives someone when they become whole again.” He continues, “This goes beyond recovery and embraces the process of rebuilding and reinvigorating.”

Its original location, featuring a professional grade recording studio to the likes of Steeley Dan, James Taylor and Jackson Browne, presents an elegant motif and non-clinical atmosphere. Adding to that, and as shown in the video by Clinical Director, Ari Labowitz, there remains a very nuclear, family-type vibe that also embraces the occasional lighthearted banter among friends, colleagues and even clients.

Says Founder and Executive Director, Kage Njaka, “If we’re going to promote it, we’ve got to live it,” referring to the manner in which he and colleague JD Meints conduct their own personal recovery and lead-by-example beliefs.

NuLife Treatment offers the full scope of substance abuse and dual-diagnosis recovery services, including; intervention, medical detox, residential/inpatient, intensive outpatient, aftercare and alumni support programs. They offer both in-network and out-of-network services through various health insurance plans, as well as financing options and partial private-pay reductions in certain cases.

The company is currently undergoing expansion into Las Virgines (Agoura Hills, CA) with a new intensive outpatient rehab facility slated to open March of this year. NuLife is also branching into the non-profit sector with its “Hope and Recovery Foundation (HARP),” focusing on academic scholars, musicians and entertainment professionals with substance abuse issues.

View their new video HERE

Further information on NuLife Treatment is available on the company website or by contacting intake staff 24/7 at (888) 508-1179. Reported by PRWeb 11 hours ago.

5 Tips For Procrastinators Who Need To Buy Health Insurance Reported by ajc.com 9 hours ago.

Wary of risks associated with cloud-based applications, information security executives at Seattle Children’s Hosptial and MedStar Health say they are taking cautious steps toward implementing cloud technology, outlining their experiences and best practices in the February issue of Atlantic Information Services’s Report on Patient Privacy.

Washington, DC (PRWEB) February 11, 2015

As hospitals and other health care providers look for ways to simultaneously cut costs, improve care and patient engagement, and compete in the health care market, some are looking at “cool” high-tech solutions and applications that, increasingly, are cloud-based. But choosing a cloud vendor is easier said than done, information technology officers tell Atlantic Information Services, Inc.’s (AIS) Report on Patient Privacy (RPP). Cris Ewell, chief information security officer at Seattle Children’s Hospital, and Pete Celano, director of consumer health initiatives at the MedStar Institute for Innovation, an arm of Washington, D.C.-area health care system MedStar Health, discuss what providers should consider in implementing cloud technology, in the February issue of RPP.

Seattle Children’s has not yet selected a cloud vendor, but implementation won’t come as the result of a quick, or simple, decision, Ewell tells RPP, and offered some issues to consider.

Before moving data to a cloud, Health Insurance Portability and Accountability Act (HIPAA) covered entities (CEs) need to weigh the risks associated with internal versus cloud hosting of data, Ewell says. This requires understanding how the vendor is configured: for example, if the cloud will be public or private, and whether it will be co-mingled with data from others. If the data is co-mingled, the cloud vendor could be a bigger target for hackers because of the amount of information that could be accessible, he explains.

Ewell also urges providers’ HIPAA officers to be actively involved in crafting the business associate agreement and contract that is signed by the vendor. Ewell says he may require that the vendor submit a copy of policy and procedure audits, as well as reports of any breaches it has had and how they were handled.

MedStar Health has already implemented cloud-based tools and products at their hospitals. ZocDocs, an online patient scheduling system, is one such product MedStar now offers patients. Some of its medical offices also use an electronic clipboard of sorts offered by Tonic Solutions, a private firm, which, Celano says, has proven to be popular with both patients and staff, and has not posed problems.

Visit http://aishealth.com/archive/hipaa0215-01 to read the article in its entirety.

About Report on Patient Privacy
Report on Patient Privacy is the health industry’s #1 source of timely news and business strategies for safeguarding patient privacy and data security. Published for hospitals and other providers, health plans and other HIPAA-covered entities and business associates, the 12-page newsletter focuses on privacy issues that can result in huge fines, penalties and public relations nightmares, including: security breach notification; business associate relations and agreements; and new federal privacy rules for marketing, fundraising, privacy notices, minimum necessary, patient rights and safeguarding privacy in EHRs. Visit http://aishealth.com/marketplace/report-patient-privacy for more information.

About Atlantic Information Services
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 8 hours ago.

New fees health insurance won't cover Reported by ajc.com 8 hours ago.

Filed under: Retirement, Early Retirement, Retirement Living

*Getty Images*

By Jeff Rose

Early retirement is a dream for those who don't like their job. But as tempting as early retirement might be, it's not always the best option. Retiring early could obviously have a negative impact on your finances, but also on your social life and even your health. Here's why it's not always a good idea to retire early.

*1. It Might Be Bad for Your Health*

Retirement could contribute to declines in your physical and mental health. A 2013 study from the Institute of Economic Affairs in the United Kingdom found that retirement increases the probably of having at least one diagnosed physical condition by 60 percent and suffering from clinical depression by 40 percent. And the negative effects grow over time as the number of years spent in retirement increases. Retirees don't always have a reason to get up and go somewhere, and that could lead to a sedentary lifestyle that reduces their level of physical health.

*2. It's More Difficult to Maintain Friendships*

A lot of socialization occurs on the job or after work, and workplace friendships sometimes fade away when you retire. It takes more effort to meet people in retirement, and some retirees lack social interaction, which can contribute to deteriorating mental and emotional health.

*3. You Could Lose Your Health Insurance*

Retiring early means you no longer have access to the health plan offered by your employer. If you retire before you qualify for Medicare, you will have to find private health insurance to cover you until you turn 65. The website healthcare.gov can connect you to the health insurance marketplace in your state, but you'll have to do some research to pick an appropriate plan and, of course, pay the premiums. Going without health insurance carries the double risk of incurring significant health care bills if you develop a serious condition and the possibility of a tax penalty for going without health insurance.

*4. You Could Run Out of Money*

An earlier retirement means a longer time relying on your assets and a greater chance that you will run out of money. If you don't have a solid nest egg or a way to supplement your income with part-time work or your own business, there is a chance that you will wind up in financial trouble. Unless you have a good way to manage your money and cut costs, you need to be careful about retiring early. Stock market shocks, increased costs and other financial issues could be devastating to your retirement savings. It's much easier to fund a 20-year retirement than a 40-year retirement.

*5. Your Life Might Lack Purpose*

Another consideration is what you will do all day without your job. Many retirees find it difficult to find a purpose. While a few weeks of down time will certainly be relaxing, then you need to decide what you will do each day that gives your life meaning.

*6. Your Spouse Might Have Other Plans*

Another problem arises when you retire early, but your significant other doesn't. The fact that you are in two different places with your lives can result in challenges for your relationship. Some people like to coordinate retirement with their spouse so that they have someone to spend time and share adventures with.

*How to Retire Early the Right Way*

Of course, these early retirement problems can be overcome with the proper planning. The key to a successful retirement is figuring out what you want to accomplish with your life during retirement, creating a retirement planning checklist and developing a thoughtful plan to accomplish your goals.
In order to make early retirement work, you need to look ahead and decide what you will do with the extra time. You might want to travel, volunteer or devote more time to your family.You can also use early retirement as a way to do work you enjoy, and do it on your own terms. If you use the time to start a business you will have more income, can afford health insurance and have a new purpose all at the same time. In some cases you could also include your significant other in your business venture.

Just quitting a job isn't usually enough for most people. Instead, your early retirement needs to have a purpose, and it needs to be properly funded. If you are able to put that together, you will be more likely to succeed.

Jeff Rose is a certified financial planner, U.S. combat veteran and the founder of GoodFinancialCents.com.

 

Permalink | Email this | Linking Blogs | Comments Reported by DailyFinance 8 hours ago.

· Methodology change sees Indian economy grow faster than China's (Reuters)
· Can Greek Businesses Even Survive? (WSJ)
· Putin to travel to Minsk talks raising hopes of a deal over Ukraine (Euronews)
· Ukraine contact group representatives deny ceasefire deal in Minsk (Reuters)
· Moar buybacks! Hedge Fund-Backed Investor Puts Himself Up for G.M. Board (NYT)
· Ukraine peace summit overshadowed by some of war's worst fighting (Reuters)
· Time for non-non-GAAP excluding China: Tesla CEO threatens firings after dismal China sales - sources (Reuters)
· Syrian ‘Monuments Men’ Race to Protect Antiquities as Looting Bankrolls Terror (WSJ)
· Jon Stewart leaving Comedy Central's 'The Daily Show' (Reuters)
· Currency Warriors Get Boost at G-20 Meeting (WSJ)
· Greece’s Tsipras Wins Austerity Vote of Confidence (BBG)
· Remember when this was all "humanitarian intervention" - Obama seeks some limits on ground troops for Islamic State fight (Reuters)
· Sheikh to U.S. Airlines: Improve So People Choose You (BBG)
· 50 Shades of Shadow Banking: China Risks Reined In (BBG)
· Banks May Have Overplayed Their Hand Fighting Wall Street Regulation (BBG)
· Leader of Belgian militant Islamist group sentenced to 12 years (Reuters)

 

 

*Overnight Media Digest*

WSJ

* The U.S. oil boom is slowing down as drillers cut back in response to lower crude prices, according to new data set to be released on Wednesday. Companies drilled 28 percent fewer oil wells in January across the continental United States than they did last June, before oil prices started falling from more than $100 a barrel to about $50 today, according to the study by Rice University's Baker Institute for Public Policy. (http://on.wsj.com/1uCPilx)

* The Federal Bureau of Investigation has opened a probe to determine whether a computer data breach led to the filing of false tax returns through TurboTax software, according to a person familiar with the case. The move comes as states try to contain a wave of bogus state tax filings through TurboTax amid signs that the fraud may also involve federal returns, according to some security specialists and taxpayers. (http://on.wsj.com/1z5SBOP)

* NBC suspended "Nightly News" anchor Brian Williams for six months without pay for telling a false war story repeatedly, putting a major blemish on the career of one of America's star newscasters. (http://on.wsj.com/1CTrhtf)

* Jeb Bush faces a unique dilemma as he builds a Republican presidential campaign, whether to follow in the foreign-policy footsteps of his father or his brother. One early indication suggests he is leaning toward his father's more pragmatic and restrained philosophy. (http://on.wsj.com/1DDxpFe)

* As the Federal Reserve prepares to begin raising interest rates later this year, it is readying for what may be another big challenge in 2015: the shift to a Republican-controlled Congress. (http://on.wsj.com/1EX7r0V)

* An architect of General Motors Co's 2009 bailout who fought those calling for its demise now has emerged as one of its chief antagonists, urging the auto maker to return more cash to shareholders and boost its flagging stock price. Harry J. Wilson, a former hedge fund executive who helped usher GM through a government-led restructuring that ultimately cost taxpayers about $10 billion, said GM needs to be "more attentive to its cash balance and its operating performance." (http://on.wsj.com/1z6nKl2)

* Billionaires David Koch and Charles Koch are helping launch an investment fund aimed at financing small leveraged buyouts, the latest entrant in the potentially lucrative market. Koch Industries Inc, the brothers' closely held conglomerate with $115 billion in annual sales, has contributed $100 million to a new fund raised by Eaglehill Capital Partners LP, according to Koch Industries Chief Financial Officer Steve Feilmeier. (http://on.wsj.com/1MbrTNK)

* U.S. businesses in China have voiced increased concerns over what they see as rising anti-foreign sentiment and increasingly difficult operating conditions as the economy posts slower growth. (http://on.wsj.com/1zurw6S)

* RadioShack Corp is looking for bankruptcy-court approval to pay up to $3 million in bonuses to key employees as it races to liquidate half its stores and turn over the rest to the highest bidder at a coming auction. Eight executives and up to 30 other employees are in line for the payouts, which the company says are essential to maximizing the sale price of the beleaguered company and to keeping people from leaving during the bankruptcy process. (http://on.wsj.com/17bC84S)

 

FT

iPhone maker Apple Inc on Tuesday became the first U.S. company to close at a market valuation above $700 billion. This led the company's Chief Executive Tim Cook to comment that the company could overcome the "law of large numbers" and continue to grow rapidly.

Fiat Chrysler's Chief Executive Sergio Marchionne has said that the carmaker's next level of growth will come from a recovering Europe as the U.S. market approaches saturation.

Frederic Cilins, a French businessman who was under custody for two years for obstructing an investigation involving a multi-million dollar African mining deal, has been released and deported.

Spanish airport operator Aena is poised to bring in the biggest IPO in Spain since 2007, as the country moves to a sustained economic recovery. Aena's shares have been priced at 58 euros ($66) a share, its upper limit, buoyed by last-minute interest by investors.

 

NYT

* Harry Wilson put himself up for a seat on the General Motors Co board, as part of a campaign to persuade the company to buy back at least $8 billion worth of shares by next year. (nyti.ms/16Q1X9s)

* Tesla Motors Inc has stumbled in China, facing homegrown competition in electric vehicles and customers who worry about charging infrastructure. (nyti.ms/1AVX9ww)

* Amy Pascal recently said she would step down from major roles at Sony Pictures in the fallout over its hacking scandal, but she will produce some important film properties. (nyti.ms/1zGnZa9)

* Junior investment bankers who graduated from college only last year are being madly courted by private equity firms like Apollo Global Management LLC, Blackstone Group, Bain Capital and Carlyle Group. (nyti.ms/1DZq5S7)

* Saba Software Inc, a troubled cloud-computing firm based in Silicon Valley, has agreed to be taken private by Vector Capital for about $300 million. Vector, a private equity firm that had previously provided a loan to Saba, will pay $9 a share for Saba, which was delisted from the Nasdaq in 2013 and is currently traded over the counter. (nyti.ms/1CTouAh)

* Brian Williams, the embattled NBC news anchor whose credibility plummeted after he acknowledged exaggerating his role in a helicopter episode in Iraq, was suspended for six months without pay, the network said on Tuesday night. (nyti.ms/1yb3Bc0)

 

Canada

THE GLOBE AND MAIL

** Inovent Capital Inc, the spurned merger partner of Canada Jetlines Ltd, is upset at the 11th-hour breakup of a planned corporate marriage and baffled by the fledgling carrier's early release of its anticipated route network that focuses on Vancouver, Winnipeg and Hamilton. (http://bit.ly/1IRftvk)

** Federal Health Minister Rona Ambrose said she can't help but get emotional over some parents' decision not to get their children vaccinated against infectious diseases. (http://bit.ly/16SelWP)

** Egypt's President, Abdel Fattah el-Sissi, says he is considering amnesty for a Canadian journalist and his Egyptian colleague who have spent more than 400 days behind bars in Cairo. (http://bit.ly/1zVfBTd)

NATIONAL POST

** Wind Mobile Corp has been talking with Mobilicity about taking over the struggling carrier, the Financial Post has learned. Mobilicity, meanwhile, has also been devising a different route through its restructuring that would allow it to sell its spectrum licences to a major wireless player, despite Ottawa's opposition. (http://bit.ly/1Abalhu)

** One of the two men accused of planning a terror attack on an Ontario train abandoned the plot in 2012 after a chance run-in with the police, court heard Monday. Raed Jaser told his alleged co-conspirator Chiheb Esseghaier to "get someone else," after the two men were questioned by police. (http://bit.ly/1KLr8Ht)

** In what is expected to be its last major financial accounting, Talisman Energy Inc took a $1.37 billion writedown Tuesday on some of its highest-profile assets, including the troubled North Sea partnership that depressed its share price and led to its $8.3 billion takeover by Spain's Repsol SA. (http://bit.ly/1DE3lJu)

** A former American soldier who claims he was tortured by U.S. authorities probing the Anonymous hacker collective has been denied asylum in Canada, signaling a forced return to the United States in a bizarre, high-profile case. (http://bit.ly/1EXw5yk)

 

China

CHINA SECURITIES JOURNAL
- China's Ministry of Finance, State Administration of Taxation and China Insurance Regulatory Commission (CIRC) are studying the possible introduction of a commercial health insurance system and will promulgate it as quickly as possible, CIRC's vice chairman Huang Hong said.

- China Railway Group has announced that it would raise up to 12 billion yuan ($1.92 billion) via private placement of its Shanghai-listed A-shares.

SHANGHAI SECURITIES NEWS

- President Xi Jinping called for stable urbanisation and better food security during a government economic meeting on Tuesday.

21st CENTURY BUSINESS HERALD

- Guangdong's free trade zone plan is expected to be approved in the near term, said Li Hongchun, director of the province's development and reform commission.

CHINA DAILY

- In a rare move, China's anti-corruption watchdog has reprimanded the Ministry of Culture and the Ministry of Environmental Protection for poor management and bad behaviour. The Ministry of Environmental Protection may soon replace its minister, the newspaper said citing sources close to the government.

 

Britain

The Times

Hundreds of thousands of teenage girls, some as young as 13, have been coerced into sex or sexual activity by a boyfriend, according to research into adolescent relationships. (thetim.es/1978uhA)

David Cameron came under pressure to justify his appointment in 2011 of Lord Green of Hurstpierpoint as trade minister after it was revealed that the former boss of HSBC was the main director responsible for its Swiss private banking business. (thetim.es/1AahGO9)

The Guardian

Shares in Europe have risen amid hopes that the new Syriza-led government in Greece is edging close to a debt deal with its eurozone partners. (bit.ly/1vhxHuv)

The director general of the British Chambers of Commerce has thrown a spoke into Labour's wheels by saying the best way to end political uncertainty over the UK's relations with Europe is to hold an early referendum. (bit.ly/1974Wfx)

The Telegraph

U.S. oil services giant Halliburton Co has announced plans to cut up to 8 percent of its workforce because of tumbling oil prices. (bit.ly/1CSnMn1)

Shares in Tesco Plc and Wm Morrison Supermarkets Plc surged on Tuesday after the strongest growth in British food sales since 2008 helped to resuscitate the embattled supermarket groups. (bit.ly/17cB94c)

Sky News

Sky has won the rights to show 126 live Premier League matches per season for three years from 2016-17 after winning the rights to five packages of games. (bit.ly/1IOIUOy)

David Cameron has hailed business as "the country's job engine" as he unveiled plans to help expanding firms through the financial "valley of death". (bit.ly/1MaUh2z)

The Independent

UBS has said it is being investigated by the US authorities over whether it sold certain securities that potentially violate American tax law. (ind.pn/1KIdgxU)

Chief Executive Martin Wheatley said the Financial Conduct Authority (FCA) was not notified prior to media reports that HSBC's private Swiss bank may have helped clients to avoid paying millions of pounds in tax. (ind.pn/1ATcspO)

 

 

*Fly On The Wall Pre-market Buzz*

ECONOMIC REPORTS
Domestic economic reports scheduled for today include:
DOE petroleum inventory reports for week of Feb. 6 at 10:30
Treasury budget for January at 14:00--consensus deficit $19.0B

ANALYST RESEARCH

Upgrades

Dun & Bradstreet (DNB) upgraded to Buy from Hold at Stifel
EnPro (NPO) upgraded to Buy from Hold at KeyBanc
Insperity (NSP) upgraded to Buy from Neutral at Roth Capital
M.D.C. Holdings (MDC) upgraded to Buy from Neutral at Citigroup
Nu Skin (NUS) upgraded to Buy from Neutral at Citigroup
VMware (VMW) upgraded to Market Perform from Underperform at Bernstein
WesBanco (WSBC) upgraded to Outperform from Market Perform at FBR Capital
Yelp (YELP) upgraded to Buy from Hold at Brean Capital

Downgrades

AkzoNobel (AKZOY) downgraded to Hold from Buy at ING Group
Blue Nile (NILE) downgraded to Market Perform from Outperform at Wells Fargo
Crane (CR) downgraded to Sector Perform from Outperform at RBC Capital
Exelis (XLS) downgraded to Sector Perform from Outperform at RBC Capital
Impax (IPXL) downgraded to Neutral from Buy at Goldman
Life Time Fitness (LTM) downgraded to Hold from Buy at KeyBanc
ManTech (MANT) downgraded to Market Perform from Outperform at Cowen
Marketo (MKTO) downgraded to Market Perform from Outperform at Wells Fargo
Maximus (MMS) downgraded to Equal-Weight from Overweight at First Analysis
NICE Systems (NICE) downgraded to Neutral from Overweight at JPMorgan
Pier 1 Imports (PIR) downgraded to Perform from Outperform at Oppenheimer
Taylor Morrison (TMHC) downgraded to Neutral from Buy at Citigroup
Teck Resources (TCK) downgraded to Underperform from Neutral at BofA/Merrill
Valero Energy Partners (VLP) downgraded to Market Perform at Wells Fargo
Wal-Mart (WMT) downgraded to Neutral from Overweight at HSBC
Western Union (WU) downgraded to Hold from Buy at Deutsche Bank

Initiations

Orbital ATK (OA) initiated with a Buy at Stifel
Orbital ATK (OA) initiated with an Outperform at Wells Fargo
Super Micro Computer (SMCI) initiated with a Positive at Susquehanna

COMPANY NEWS
Viacom's (VIA) Comedy Central losing Jon Stewart as Daily Show host
First Solar (FSLR) announced that Apple (AAPL) has committed $848M for clean energy from First Solar’s California Flats Solar Project in Monterey County, California
Target (TGT) said it will discontinue Target Ticket, effective March 7
InterXion (INXN), TelecityGroup reached non-binding agreement on all-share merger
Genworth (GNW) said it began the consolidation of its U.S. Life Insurance Division and corporate holding company functions in January, which resulted in the reduction of key leadership positions
Pier 1 Imports (PIR) said CFO Charles Turner retires, named Laura Coffey as interim CFO. Alex W. Smith, President and CEO, “I am extremely disappointed that we will not achieve our prior financial guidance. Following a strong holiday period, we registered respectable company comparable sales growth of 5.7% in January -- but the results were well below our forecast, which had overestimated the recapture of lost sales from last year’s storms. This is also causing us to take a more cautious view of sales for February"

EARNINGS

Companies that beat consensus earnings expectations last night and today include:
Voya Financial (VOYA), Generac (GNRC), Wix.com (WIX), Euronet (EEFT), OCI Resources (OCIR), Brookfield Residential (BRP), HCC Insurance (HCC), Charles River Labs (CRL), Rush Enterprises (RUSHA), RPX Corp. (RPXC), National General (NGHC), Paycom (PAYC), ViaSat (VSAT), Jive Software (JIVE), Echelon (ELON), ReachLocal (RLOC), Tessera (TSRA), CNO Financial (CNO), FirstService (FSRV), Arch Capital (ACGL), LifeLock (LOCK), Marketo (MKTO), Xoom (XOOM), Team Health (TMH), Thoratec (THOR), Genomic Health (GHDX), Seattle Genetics (SGEN), Sangamo (SGMO), , Western Union (WU), Akamai (AKAM), CAI International (CAP)

Companies that missed consensus earnings expectations include:
WellCare (WCG), WellCare (WCG), Blackbaud (BLKB), Genworth (GNW), Kinross Gold (KGC), USANA (USNA), Willis Group (WSH), Covisint (COVS), Corium (CORI), A10 Networks (ATEN), A10 Networks (ATEN), Forward Air (fwrd), Pioneer Natural (PXD), Kforce (KFRC), Andersons (ANDE), Phibro Animal Health (PAHC), FMC Technologies (FTI)

Companies that matched consensus earnings expectations include:
Caesarstone (CSTE), Ruckus Wireless (RKUS), Trimble (TRMB), Cerner (CERN)

NEWSPAPERS/WEBSITES

Sycamore near buyout of Chico's FAS (CHS), WSJ says
Trian preparing new DuPont (DD) strategy paper, Bloomberg reports 
Apple (AAPL) hits $710B market cap, CEO cites strong Chinese performance, WSJ reports
eBay Enterprise (EBAY) banned from selling ads on eBay, Re/code reports
Target (TGT) settles for $3.9M in false advertising suit, SF Gate reports

SYNDICATE

AMAG Pharmaceuticals (AMAG) files to sell 1.6M shares for holders
Achillion (ACHN) files to sell 10M shares of common stock
Delcath Systems (DCTH) files to sell common stock and warrants
Jones Energy (JONE) files to sell 4.25M shares of common stock
TherapeuticsMD (TXMD) files to sell common stock, no amount given
Waste Connections (WCN) files automatic mixed securities shelf Reported by Zero Hedge 6 hours ago.

President Barack Obama singled out office supply giant Staples Inc. as undercutting his healthcare reform law and said large corporations should not use the health insurance issue as an excuse for cutting wages, the news website BuzzFeed reported. Reported by Newsmax 5 hours ago.

U.S. President Barack Obama singled out office supply giant Staples Inc as undercutting his healthcare reform law and said large corporations should not use the health insurance issue as an excuse for cutting wages, the news website BuzzFeed reported. “It’s one thing when you’ve go... Reported by Raw Story 5 hours ago.

President Obama directly criticized Staples over a recent report that says it threatened to fire part-time workers in order to avoid providing them health insurance. Reported by CNNMoney 5 hours ago.

WASHINGTON, Feb 11 (Reuters) - U.S. President Barack Obama singled out office supply giant Staples Inc as undercutting his healthcare reform law and said large corporations should not use the health insurance issue as an excuse for cutting wages, the news website BuzzFeed reported.

"It's one thing when you've got a mom-and-pop store who can't afford to provide paid sick leave or health insurance or minimum wage to workers  but when I hear large corporations that make billions of dollars in profits trying to blame our interest in providing health insurance as an excuse for cutting back workers' wages, shame on them," Obama said in an interview with BuzzFeed.

The Affordable Care Act requires companies with more than 50 employees to pay for health insurance for people who work 30 hours a week or more. Reuters has reported that some businesses are keeping staffing numbers below 50 or cutting the work week to less than 30 hours to avoid providing employee health insurance.

Staples, the No. 1 U.S. office supplies retailer, has told its employees not to work more than 25 hours per week, according to a Buzzfeed report on Monday.

Staples CEO Ronald Sargent brought home $10.8 million in total compensation in 2013. The company reported net profit of $620.1 million in net profit through Feb. 1, 2014.

"There is no reason for an employer who is not currently providing health care to their workers to discourage them from either getting health insurance on the job or being able to avail themselves of the Affordable Care Act," Obama said in the interview Tuesday.

"I haven't looked at Staples stock lately or what the compensation of the CEO is, but I suspect that they could well afford to treat their workers favorably and give them some basic financial security, and if they can't, then they should be willing to allow those workers to get the Affordable Care Act without cutting wages," Obama said.

Staples representatives were not immediately available for comment on Tuesday.

Nearly 7.5 million people have signed up for 2015 Obamacare health plans through HealthCare.gov with demand increasing as the Feb. 15 enrollment deadline approaches, according to government figures.

Staples and No. 2 office retailer Office Depot Inc announced last week a $6.3 billion plan to join forces to compete against big box stores and online rivals. (Reporting by Doina Chiacu, Sruthi Ramakrishnan, Martin Howell; Writing by Doina Chiacu; Editing by W Simon) Reported by Huffington Post 5 hours ago.

Filed under: Health Care, Retail, Barack Obama, Health Insurance, This Built America

*Moment Editorial/Getty Images*

By Doina Chiacu, Sruthi Ramakrishnan and Martin Howell

WASHINGTON -- U.S. President Barack Obama singled out office supply giant Staples (SPLS) as undercutting his health care reform law and said large corporations shouldn't use the health insurance issue as an excuse for cutting wages, the news website BuzzFeed reported.

"It's one thing when you've got a mom-and-pop store who can't afford to provide paid sick leave or health insurance or minimum wage to workers ... but when I hear large corporations that make billions of dollars in profits trying to blame our interest in providing health insurance as an excuse for cutting back workers' wages, shame on them," Obama said in an interview with BuzzFeed.

The Affordable Care Act requires companies with more than 50 employees to pay for health insurance for people who work 30 hours a week or more. Reuters has reported that some businesses are keeping staffing numbers below 50 or cutting the work week to less than 30 hours to avoid providing employee health insurance.
[W]hen I hear large corporations that make billions of dollars in profits trying to blame our interest in providing health insurance as an excuse for cutting back workers' wages, shame on them.

Staples, the No. 1 U.S. office supplies retailer, has told its employees not to work more than 25 hours a week, according to a Buzzfeed report Monday.

Staples CEO Ronald Sargent brought home $10.8 million in total compensation in 2013. The company reported net profit of $620.1 million in net profit through Feb. 1, 2014.

"There is no reason for an employer who is not currently providing health care to their workers to discourage them from either getting health insurance on the job or being able to avail themselves of the Affordable Care Act," Obama said in the interview Tuesday.

"I haven't looked at Staples stock lately or what the compensation of the CEO is, but I suspect that they could well afford to treat their workers favorably and give them some basic financial security, and if they can't, then they should be willing to allow those workers to get the Affordable Care Act without cutting wages," Obama said.

Staples representatives weren't immediately available for comment Tuesday.

Nearly 7.5 million people have signed up for 2015 Obamacare health plans through HealthCare.gov with demand increasing as the Feb. 15 enrollment deadline approaches, according to government figures.

Staples and No. 2 office retailer Office Depot (ODP) announced last week a $6.3 billion plan to join forces to compete against big box stores and online rivals.

 

Permalink | Email this | Linking Blogs | Comments Reported by DailyFinance 5 hours ago.

President Barack Obama said "shame on them" after being asked about reports that Staples is banning part-time workers from putting in more than 25 hours a week in order to dodge paying benefits under Obamacare. 

In an interview with BuzzFeed published Wednesday, Obama said that Staples should be more than able to afford to provide affordable healthcare for its workers.

"I haven’t looked at Staples stock lately or what the compensation of the CEO is, but I suspect that they could well afford to treat their workers favorably and give them some basic financial security, and if they can’t, then they should be willing to allow those workers to get the Affordable Care Act without cutting wages," he said.

Earlier this year, Staples reportedly told part-time employees they could be fired for working more than 25 hours a week. The company implemented the policy to avoid paying benefits under the Affordable Care Act, according to BuzzFeed. The healthcare law mandates that employees who work more than 30 hours a week receive healthcare. Staples could be fined $3,000 per employee if it does not comply with the law.

Some workers said their hours have been cut drastically since Staples implemented the new policy. Although the retailer denied the policy is a result of the Affordable Care Act, some workers blamed Obama for the change. In his interview with BuzzFeed, Obama panned the "excuse" for the reported policy shift. 

"When I hear large corporations that make billions of dollars in profits trying to blame our interest in providing health insurance as an excuse for cutting back workers’ wages," he told BuzzFeed, "shame on them."

Staples, which recently acquired Office Depot, had a profit of $6.22 billion in 2014, but sales are in a slump. The company has been cutting costs and closing stores.

Explore more SPLS Data at Wikinvest

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NOW WATCH: What Happened When A Bunch Of Young Boys Were Told To Hit A Girl Reported by Business Insider 5 hours ago.