A judge ordered Arkansas officials on Tuesday to recognize more than 500 same-sex marriages performed in the state last year, a move that will let the couples enjoy a host of benefits such as filing taxes jointly and enrolling together in state health insurance plans.
Reported by FOXNews.com 15 hours ago.
Judge: Arkansas must recognize in-state same-sex marriages
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What Hawaii can learn from Nevada’s switch to the federal health insurance exchange healthcare.gov
When the Hawaii Health Connector board voted to wind down operations and transition to move all IT functions to the federal system, it became the fourth state in the nation to make such a move. The Hawaii Health Connector board’s decision last week was partly a result of the nonprofit’s inability to prove financial self-sustainability by Jan. 2015, as required by the Affordable Care Act for all state-based exchanges across the nation. But other states have faced similar issues in technological…
Reported by bizjournals 13 hours ago.
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NextGen Leads announces the launch of its Live Transfer product for health insurance leads.
Live Transfers enables immediate contact to a pre-qualified lead.
San Diego, CA (PRWEB) June 10, 2015
NextGen Leads, a unique lead generation platform that provides high quality, cost effective leads announced the launch of its Live Transfer product for health insurance leads. NextGen Leads is a collaborative effort between online marketing experts, technology pros and insurance industry veterans committed to providing the best possible lead buying experience.
Live Transfers enable health insurance agents and agencies to immediately speak to a pre-qualified lead, without the need to manually call leads themselves. This technology provides a convenient, user-friendly source of high quality leads that a wide variety of customers can leverage, from large, full service agencies all the way down to independent agents.
“We are very excited about this launch,” said Chris Kelly, CEO of NextGen Leads. “Up until now, we have been able to provide a very high quality data lead product that is primarily aimed at large scale agencies and call centers, but we haven’t had a great offering for independent agents and smaller agencies. With Live Transfers, we are able to address that market with a product that can help these agents generate more sales and grow their business.”
Live Transfer campaigns can be created and managed using the same industry-leading Buyer Dashboard that customers use for data leads. Every aspect of the campaign -- including targeting, filtering, schedules and bids -- can be managed online by the customer, without the need to call customer support. Reporting information is also easily accessible in the Dashboard.
NextGen Leads is aggressively growing its team of Live Transfer agents with the goal of increasing the number of pre-qualified calls it can provide to its customers. To sign up for an account and to try Live Transfers, go to http://www.nextgenleads.com.
*****
About NextGen Leads
NextGen Leads provides extremely high quality insurance leads, using industry-leading technology to streamline lead acquisition from end to end. Founded in 2014 in San Diego, California, the Company is focused on providing a superior lead buying experience through a focus on technology and a modern approach to lead generation. For more information about NextGen Leads, please visit their website at http://www.nextgenleads.com or connect with NextGen Leads on Facebook. Reported by PRWeb 6 hours ago.
San Diego, CA (PRWEB) June 10, 2015
NextGen Leads, a unique lead generation platform that provides high quality, cost effective leads announced the launch of its Live Transfer product for health insurance leads. NextGen Leads is a collaborative effort between online marketing experts, technology pros and insurance industry veterans committed to providing the best possible lead buying experience.
Live Transfers enable health insurance agents and agencies to immediately speak to a pre-qualified lead, without the need to manually call leads themselves. This technology provides a convenient, user-friendly source of high quality leads that a wide variety of customers can leverage, from large, full service agencies all the way down to independent agents.
“We are very excited about this launch,” said Chris Kelly, CEO of NextGen Leads. “Up until now, we have been able to provide a very high quality data lead product that is primarily aimed at large scale agencies and call centers, but we haven’t had a great offering for independent agents and smaller agencies. With Live Transfers, we are able to address that market with a product that can help these agents generate more sales and grow their business.”
Live Transfer campaigns can be created and managed using the same industry-leading Buyer Dashboard that customers use for data leads. Every aspect of the campaign -- including targeting, filtering, schedules and bids -- can be managed online by the customer, without the need to call customer support. Reporting information is also easily accessible in the Dashboard.
NextGen Leads is aggressively growing its team of Live Transfer agents with the goal of increasing the number of pre-qualified calls it can provide to its customers. To sign up for an account and to try Live Transfers, go to http://www.nextgenleads.com.
*****
About NextGen Leads
NextGen Leads provides extremely high quality insurance leads, using industry-leading technology to streamline lead acquisition from end to end. Founded in 2014 in San Diego, California, the Company is focused on providing a superior lead buying experience through a focus on technology and a modern approach to lead generation. For more information about NextGen Leads, please visit their website at http://www.nextgenleads.com or connect with NextGen Leads on Facebook. Reported by PRWeb 6 hours ago.
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What Young Americans Should Look For In a Heath Care Plan
Filed under: Health Care, Personal Finance, Health Insurance, How to Save Money*Getty Images*
By Brian O'Connell
NEW YORK -- For Americans 30 and under choosing a health care plan -- many for the first time -- there is no shortage of moving parts to consider.
For keeping costs low for younger consumers who habitually make the lowest incomes, accepting a high-deductible plan in exchange for lower monthly premiums (or payments) might be the way to go. After all, the 30-and-under demographic isn't only the youngest section of the workforce, it's also the healthiest, and accepting some elevated risk of using high health care plan deductibles can make good sense.
To find the best option, Harley Gordon, co-founder of Agent Review, a Bellevue, Washington, online insurance agent reviewer, advises the younger generation to focus on the "three H's":
1. *Measure your current health.* Do you get sick a lot? "If, for example, you're a teacher surrounded by germs or have a high-stress job that impacts your health, you might consider a lower-deductible plan so you're not paying for every visit to the doctor or trip to the pharmacy," Gordon says.
2. *Evaluate your everyday habits.* Do you visit the doctor often, whether you're sick or not? "If not, a high-deductible plan could work for you, because you only pay when you actually seek out medical treatment," he adds.
3. *Weigh whether you're high-risk.* Do you live an active lifestyle? Do you snowboard? Do CrossFit? "If chances are high you'll break a bone or otherwise get injured, you might be paying more for hospital bills out of pocket with a high-deductible plan -- consider a low-deductible option," Gordon says.
For a lot of consumers under 30, a catastrophic plan may be sufficient, but they're also advised to save in an health savings account to pay any deductible, says Adam Beck, assistant professor of health insurance at The American College in Bryn Mawr, Pa. "The same is true for a bronze plan, which for many young people will make the most sense," he adds. Beck says younger people should visit the national (and state) health insurance marketplace to explore all their options.
But there is a caveat with this approach. "This could yield positive results, but a lot of young, single people can get into a bit of a trap," he says. "They may not make much money -- say $35,000 a year in an entry-level job -- but because they are single with no dependents, they still earn well above the poverty line and won't qualify for much of a subsidy, if any."
If the young man or woman is under age 26, the ACA has a way to help: They can stay on their parents' plan, Beck notes.
My advice to a young person is to take the highest deductible with the best network they can find.
It's also vital for young Americans to understand they might experience a higher premium increase if they don't update their subsidy annually. "Without updating their subsidy, an individual is subjected to picking up 100 percent of the premium increase personally, as opposed to a portion consistent with their previous subsidy," notes John O'Donnell, president of Insurance Consultants of Central Florida.
Additionally, healthy younger people should learn about the limited-network plans that are increasingly available for lower costs. "Individuals under age 30 are also eligible for 'catastrophic' plans, which is its own tier of plans that are less expensive than most bronze-level plans [on the health exchanges] and can be a very affordable option," O'Donnell adds.
If you do opt for a high-deductible plan, you may have more leverage -- and more leniency, financially -- than you might think.
"My advice to a young person is to take the highest deductible with the best network they can find," Gordon says. "Most Obamacare plans have restricted networks, so they should make sure good hospitals and doctors are in the network. If there is a large bill and the deductible is reached, almost every hospital and doctor will negotiate a payment plan over a period of years."
"Just because there is a bill for $6,000, it doesn't mean it must be paid right away," Gordon says.
Permalink | Email this | Linking Blogs | Comments Reported by DailyFinance 4 hours ago.
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Dos and Don'ts for Your Final Working Year Before Retiring
Filed under: Personal Finance, Career Change, Retirement Living, Retirement Plans, Financial Education*Getty Images*With the clock ticking on your career, you need to make headway on your retirement plans.
Some 4 million baby boomers are expected to retire in the next year. If you're one of them, you need to make sure you're on solid ground before exiting the workforce. Otherwise, you could find yourself without a job and without enough monthly income to cover your expenses. Retiring has the potential to affect everything from your social life to your insurance coverage, so pre-retirees should take some time to evaluate both their current situation and future goals before clocking out for the final time.
Here's what financial experts say you should do (and not do) during the year before you retire.
*Do: Review Your Expected Budget and Cash Flow*
The first thing pre-retirees should do is estimate what their expenses will be in retirement.
"[My] single biggest tip is to put together an itemized monthly budget," says Michael Milarski, partner with Signature Financial Planning in Pittsburgh.Pre-retirees often make the mistake of focusing solely on the bottom line of their 401(k) or IRA statement, he says. But what may be more important than the total balance is the monthly cash flow you can expect to pull from those accounts. Milarski recommends adding up all your monthly expenses -- with travel plus major and future expenses included -- and having a financial adviser run "Monte Carlo simulations" to determine how long you can sustain that budget before your money runs out.
"Pre-retirees also need to take a hard look at where their sources of income will be coming from," says Steven Elwell, vice president of Schroeder, Braxton & Vogt in Amherst, New York. In addition to Social Security and pensions, those heading toward retirement need to decide when and how to start pulling money from 401(k)s, IRAs and other retirement accounts.
Larry Rosenthal, president of Rosenthal Wealth Management Group in Manassas, Virginia, says poor management of private retirement accounts can be a costly mistake. "I see [seniors] sometimes withdrawing too much money and paying excessive taxes to stick [money] in a checking account," he says. While those with Roth IRAs can make tax-free withdrawals, money from a traditional IRA is taxable and withdrawals before age 59½ often trigger a 10 percent early withdrawal penalty. Beyond having to pay taxes on money they don't plan to use immediately, retirees could find that unneeded withdrawals bump them into a higher tax bracket.
*Don't: Forget About Health Insurance and Life Insurance*
Reviewing insurance policies is another must-do for pre-retirees. Medicare doesn't start until age 65, which means early retirees could find themselves without coverage and without access to their employer's health plan.
"Create a plan to avoid a lapse in medical coverage," Milarski says. "[Early retirees] need some sort of coverage as a bridge from retirement to Medicare."
As for life insurance, Rosenthal says it's not so much a question of finding new coverage as it is seeing whether you can reduce your monthly expenses. "Ask what happens with your whole life insurance [policy] if you stop payments," he advises. Depending on the policy, some companies may allow premiums be taken from the cash value, which can free up much-needed money in a retiree's monthly budget.
*Do: Refinance Now Rather Than Later*
If you think refinancing your home mortgage is a wise financial move, Rosenthal says you should pursue it while you are still are earning income. "Refinancing becomes harder after retirement," he says. Creditors may be hesitant to provide loans to those who don't have any earned income and are living on retirement funds.
Along the same lines, consider whether you want to make any major purchases in the near future, such as a car or RV. In most cases it'll be easier to buy these items now rather than obtain financing after you've left the workforce.
*Don't: File for Social Security Too Early*
One of the biggest decisions you need to make as you approach retirement is when to take Social Security. "I see far too many seniors starting Society Security too early," Elwell says.
While you can sign up for Social Security any time after age 62, your monthly benefits will increase for each month you wait up until age 70. "Delaying your Social Security can be one of the smartest financial strategies for healthy people," he says. "Proper planning for a married couple could yield tens of thousands, if not hundreds of thousands, of dollars more over a normal lifetime."
Smart use of funds from your retirement accounts can be one way to comfortably postpone the start of Social Security benefits. "Work on initiating a plan to start monthly withdrawals from retirement funds," Milarski says. He recommends consulting with a financial professional to determine the right amount to withdraw, noting an annual withdrawal of no more than 5 percent of the fund balance is usually ideal.
*Do: Find a Social Outlet in Advance*
Before you leave the workforce, decide whether you need to find a new social outlet. Rosenthal says, "Ask the question: Am I getting most of my social interaction in the workplace or outside the workplace?
If the workplace is your main source of friendship, you may have a rocky transition to retirement, where long hours at home can lead to boredom or marital tension.
"I recommend pre-retirees think about the things they enjoy doing and find their passion once they retire," Elwell says. "It's one thing to be financially prepared for retirement but another to be mentally prepared."
Elwell says his happiest clients are the ones who have found meaningful activities to fill their time. To find your happy place, consider whether you might want to travel, pick up a new hobby, work part time or volunteer for a favorite charity after you finally say goodbye to the daily grind.
Permalink | Email this | Linking Blogs | Comments Reported by DailyFinance 4 hours ago.
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The Real Question We Should Be Asking After the Massive Government Hack
True or False? There was no way the Office of Personnel Management could have prevented hackers from stealing the sensitive personal information of 4.1 million federal employees, past and present.
If you guessed "False," you'd be wrong. If you guessed, "True," you'd also be wrong.
The correct response is: "Ask a different question." Serious data breaches keep happening because there is no black-and-white answer to the data breach quagmire. So what should we be doing? That's the right question, and the answer is decidedly that we should be trying something else.
The parade of data breaches that expose information that should be untouchable continues because we're not asking the right questions. It persists because the underlying conditions that make breaches not only possible, but inevitable, haven't changed--and yet we somehow magically think that everything will be all right. And of course we keep getting compromised by a shortlist of usual suspects, and there's a reason. We're focused too much on the "who" and not asking simple questions, like, "How can we reliably put sensitive information out of harm's way while we work on shoring up our cyber defenses?"
According to the New York Times, the problems were so extreme for two systems maintained by the agency that stored the pilfered data that its inspector general recommended, "temporarily shutting them down because the security flaws 'could potentially have national security implications.'"
Instead, the agency tried to patch together a solution. In a hostile environment where there are known vulnerabilities, allowing remote access to sensitive information is not only irresponsible -- regardless the reason -- it's indefensible. Yet according to the same article in the Times, the Office of Personnel Management not only allowed it, but it did so on a system that didn't require multifactor authentication. (There are many kinds, but a typical setup uses a one-time security code needed for access, which is texted to an authorized user's mobile phone.) When asked by the Times why such a system wasn't in place at the OPM, Donna Seymour, the agency's chief information officer, replied that adding more complex systems "in the government's 'antiquated environment' was difficult and very time consuming, and that her agency had to perform 'triage' to determine how to close the worst vulnerabilities."
Somehow I doubt knowing that protecting data "wasn't easy" will make the breach easier to accept for the more than 4 million federal employees whose information is now in harm's way (or their partners or spouses whose sensitive personal information was collected during security clearance investigations, and may have been exposed as well).
*A New Approach*
Given the above circumstances, the game changer -- at least for the short-term -- may be found in game theory. In an "imperfect information game," players are unaware of the actions chosen by their opponent. They know who the players are, and their possible strategies and actions, but no more than that. When it comes to data security and the way the "game" is set up now, our opponent knows that there are holes in our defenses and that sensitive data is often unencrypted.
Since we can't resolve vulnerabilities on command, one way to change the "game" would be to remove personal information from systems that don't require multifactor authentication. Another game changer would be to only store sensitive data in an encrypted, unusable form. According to Politico, the OPM stored Social Security numbers and other sensitive information without encryption.
This fixable problem is not getting the attention it demands, in part because Congress hasn't decided it's a priority.
The U.S. is not the only country getting hit hard in the data breach epidemic. The recent attack on the Japanese Pension Service compromised 1.25 million records, and Germany's Bundestag was recently hacked (though the motivation there appeared to be espionage, according to a report in Security Affairs).
According to an IBM X-Force Threat Intelligence report earlier this year, cyberattacks caused the leak of more than a billion records in 2014. The average cost for each record compromised in 2014 was $145, and has increased to $195, according to Experian. The average cost to a breached organization was $3.5 million in 2014, but is now up to $3.8 million. More than 2.3 million people have become victims of medical identity theft, with a half million last year alone. Last year, $5.8 billion was stolen from the IRS and the Treasury Inspector General for Tax Administration predicts that number could hit $26 billion by 2017.
If you look at the major hacks in recent history -- a list that includes the White House, the U.S. Post Office and the nation's second largest provider of health insurance -- it would seem highly unlikely that a lax attitude is to blame, but that is precisely the problem. A former senior administration adviser on cyber-issues spoke off the record with the New York Times about the OPM hack: "The mystery here is not how they got cleaned out by the Chinese. The mystery is what took the Chinese so long."
During this siege-period, while our defenses are no match for the hackers targeting our information, evasive measures are necessary. I agree with White House Press Secretary Josh Earnest, who said, "We need the United States Congress to come out of the Dark Ages and actually join us here in the 21st century to make sure that we have the kinds of defenses that are necessary to protect a modern computer system."
But laws take a long time, and we're in a cyber emergency. The question we need to ask today is whether, in the short term, the government can afford not putting our most sensitive information behind a lock that requires two key-holders -- the way nukes are deployed -- or storing it offline until proper encryption protocols can be put in place.
-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website. Reported by Huffington Post 2 hours ago.
If you guessed "False," you'd be wrong. If you guessed, "True," you'd also be wrong.
The correct response is: "Ask a different question." Serious data breaches keep happening because there is no black-and-white answer to the data breach quagmire. So what should we be doing? That's the right question, and the answer is decidedly that we should be trying something else.
The parade of data breaches that expose information that should be untouchable continues because we're not asking the right questions. It persists because the underlying conditions that make breaches not only possible, but inevitable, haven't changed--and yet we somehow magically think that everything will be all right. And of course we keep getting compromised by a shortlist of usual suspects, and there's a reason. We're focused too much on the "who" and not asking simple questions, like, "How can we reliably put sensitive information out of harm's way while we work on shoring up our cyber defenses?"
According to the New York Times, the problems were so extreme for two systems maintained by the agency that stored the pilfered data that its inspector general recommended, "temporarily shutting them down because the security flaws 'could potentially have national security implications.'"
Instead, the agency tried to patch together a solution. In a hostile environment where there are known vulnerabilities, allowing remote access to sensitive information is not only irresponsible -- regardless the reason -- it's indefensible. Yet according to the same article in the Times, the Office of Personnel Management not only allowed it, but it did so on a system that didn't require multifactor authentication. (There are many kinds, but a typical setup uses a one-time security code needed for access, which is texted to an authorized user's mobile phone.) When asked by the Times why such a system wasn't in place at the OPM, Donna Seymour, the agency's chief information officer, replied that adding more complex systems "in the government's 'antiquated environment' was difficult and very time consuming, and that her agency had to perform 'triage' to determine how to close the worst vulnerabilities."
Somehow I doubt knowing that protecting data "wasn't easy" will make the breach easier to accept for the more than 4 million federal employees whose information is now in harm's way (or their partners or spouses whose sensitive personal information was collected during security clearance investigations, and may have been exposed as well).
*A New Approach*
Given the above circumstances, the game changer -- at least for the short-term -- may be found in game theory. In an "imperfect information game," players are unaware of the actions chosen by their opponent. They know who the players are, and their possible strategies and actions, but no more than that. When it comes to data security and the way the "game" is set up now, our opponent knows that there are holes in our defenses and that sensitive data is often unencrypted.
Since we can't resolve vulnerabilities on command, one way to change the "game" would be to remove personal information from systems that don't require multifactor authentication. Another game changer would be to only store sensitive data in an encrypted, unusable form. According to Politico, the OPM stored Social Security numbers and other sensitive information without encryption.
This fixable problem is not getting the attention it demands, in part because Congress hasn't decided it's a priority.
The U.S. is not the only country getting hit hard in the data breach epidemic. The recent attack on the Japanese Pension Service compromised 1.25 million records, and Germany's Bundestag was recently hacked (though the motivation there appeared to be espionage, according to a report in Security Affairs).
According to an IBM X-Force Threat Intelligence report earlier this year, cyberattacks caused the leak of more than a billion records in 2014. The average cost for each record compromised in 2014 was $145, and has increased to $195, according to Experian. The average cost to a breached organization was $3.5 million in 2014, but is now up to $3.8 million. More than 2.3 million people have become victims of medical identity theft, with a half million last year alone. Last year, $5.8 billion was stolen from the IRS and the Treasury Inspector General for Tax Administration predicts that number could hit $26 billion by 2017.
If you look at the major hacks in recent history -- a list that includes the White House, the U.S. Post Office and the nation's second largest provider of health insurance -- it would seem highly unlikely that a lax attitude is to blame, but that is precisely the problem. A former senior administration adviser on cyber-issues spoke off the record with the New York Times about the OPM hack: "The mystery here is not how they got cleaned out by the Chinese. The mystery is what took the Chinese so long."
During this siege-period, while our defenses are no match for the hackers targeting our information, evasive measures are necessary. I agree with White House Press Secretary Josh Earnest, who said, "We need the United States Congress to come out of the Dark Ages and actually join us here in the 21st century to make sure that we have the kinds of defenses that are necessary to protect a modern computer system."
But laws take a long time, and we're in a cyber emergency. The question we need to ask today is whether, in the short term, the government can afford not putting our most sensitive information behind a lock that requires two key-holders -- the way nukes are deployed -- or storing it offline until proper encryption protocols can be put in place.
-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website. Reported by Huffington Post 2 hours ago.
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Assurant to Exit Health Insurance Market to Support Strategic Focus on Housing and Lifestyle Specialty Protection Products and Services
NEW YORK--(BUSINESS WIRE)--Assurant concluded a comprehensive review of strategic alternatives for its health business and will exit the health insurance market as it sharpens its focus on housing and lifestyle protection.
Reported by Business Wire 3 minutes ago.
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FINEOS Launches Billing System at IASA
DUBLIN--(BUSINESS WIRE)--FINEOS launches a new billing system for Life, Accident and Health insurance.
Reported by Business Wire 3 minutes ago.
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The Real Question We Should Be Asking After the Massive Government Hack
True or False? There was no way the Office of Personnel Management could have prevented hackers from stealing the sensitive personal information of 4.1 million federal employees, past and present.
If you guessed "False," you'd be wrong. If you guessed, "True," you'd also be wrong.
The correct response is: "Ask a different question." Serious data breaches keep happening because there is no black-and-white answer to the data breach quagmire. So what should we be doing? That's the right question, and the answer is decidedly that we should be trying something else.
The parade of data breaches that expose information that should be untouchable continues because we're not asking the right questions. It persists because the underlying conditions that make breaches not only possible, but inevitable, haven't changed--and yet we somehow magically think that everything will be all right. And of course we keep getting compromised by a shortlist of usual suspects, and there's a reason. We're focused too much on the "who" and not asking simple questions, like, "How can we reliably put sensitive information out of harm's way while we work on shoring up our cyber defenses?"
According to the New York Times, the problems were so extreme for two systems maintained by the agency that stored the pilfered data that its inspector general recommended, "temporarily shutting them down because the security flaws 'could potentially have national security implications.'"
Instead, the agency tried to patch together a solution. In a hostile environment where there are known vulnerabilities, allowing remote access to sensitive information is not only irresponsible -- regardless the reason -- it's indefensible. Yet according to the same article in the Times, the Office of Personnel Management not only allowed it, but it did so on a system that didn't require multifactor authentication. (There are many kinds, but a typical setup uses a one-time security code needed for access, which is texted to an authorized user's mobile phone.) When asked by the Times why such a system wasn't in place at the OPM, Donna Seymour, the agency's chief information officer, replied that adding more complex systems "in the government's 'antiquated environment' was difficult and very time consuming, and that her agency had to perform 'triage' to determine how to close the worst vulnerabilities."
Somehow I doubt knowing that protecting data "wasn't easy" will make the breach easier to accept for the more than 4 million federal employees whose information is now in harm's way (or their partners or spouses whose sensitive personal information was collected during security clearance investigations, and may have been exposed as well).
*A New Approach*
Given the above circumstances, the game changer -- at least for the short-term -- may be found in game theory. In an "imperfect information game," players are unaware of the actions chosen by their opponent. They know who the players are, and their possible strategies and actions, but no more than that. When it comes to data security and the way the "game" is set up now, our opponent knows that there are holes in our defenses and that sensitive data is often unencrypted.
Since we can't resolve vulnerabilities on command, one way to change the "game" would be to remove personal information from systems that don't require multifactor authentication. Another game changer would be to only store sensitive data in an encrypted, unusable form. According to Politico, the OPM stored Social Security numbers and other sensitive information without encryption.
This fixable problem is not getting the attention it demands, in part because Congress hasn't decided it's a priority.
The U.S. is not the only country getting hit hard in the data breach epidemic. The recent attack on the Japanese Pension Service compromised 1.25 million records, and Germany's Bundestag was recently hacked (though the motivation there appeared to be espionage, according to a report in Security Affairs).
According to an IBM X-Force Threat Intelligence report earlier this year, cyberattacks caused the leak of more than a billion records in 2014. The average cost for each record compromised in 2014 was $145, and has increased to $195, according to Experian. The average cost to a breached organization was $3.5 million in 2014, but is now up to $3.8 million. More than 2.3 million people have become victims of medical identity theft, with a half million last year alone. Last year, $5.8 billion was stolen from the IRS and the Treasury Inspector General for Tax Administration predicts that number could hit $26 billion by 2017.
If you look at the major hacks in recent history -- a list that includes the White House, the U.S. Post Office and the nation's second largest provider of health insurance -- it would seem highly unlikely that a lax attitude is to blame, but that is precisely the problem. A former senior administration adviser on cyber-issues spoke off the record with the New York Times about the OPM hack: "The mystery here is not how they got cleaned out by the Chinese. The mystery is what took the Chinese so long."
During this siege-period, while our defenses are no match for the hackers targeting our information, evasive measures are necessary. I agree with White House Press Secretary Josh Earnest, who said, "We need the United States Congress to come out of the Dark Ages and actually join us here in the 21st century to make sure that we have the kinds of defenses that are necessary to protect a modern computer system."
But laws take a long time, and we're in a cyber emergency. The question we need to ask today is whether, in the short term, the government can afford not putting our most sensitive information behind a lock that requires two key-holders -- the way nukes are deployed -- or storing it offline until proper encryption protocols can be put in place.
-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website. Reported by Huffington Post 1 day ago.
If you guessed "False," you'd be wrong. If you guessed, "True," you'd also be wrong.
The correct response is: "Ask a different question." Serious data breaches keep happening because there is no black-and-white answer to the data breach quagmire. So what should we be doing? That's the right question, and the answer is decidedly that we should be trying something else.
The parade of data breaches that expose information that should be untouchable continues because we're not asking the right questions. It persists because the underlying conditions that make breaches not only possible, but inevitable, haven't changed--and yet we somehow magically think that everything will be all right. And of course we keep getting compromised by a shortlist of usual suspects, and there's a reason. We're focused too much on the "who" and not asking simple questions, like, "How can we reliably put sensitive information out of harm's way while we work on shoring up our cyber defenses?"
According to the New York Times, the problems were so extreme for two systems maintained by the agency that stored the pilfered data that its inspector general recommended, "temporarily shutting them down because the security flaws 'could potentially have national security implications.'"
Instead, the agency tried to patch together a solution. In a hostile environment where there are known vulnerabilities, allowing remote access to sensitive information is not only irresponsible -- regardless the reason -- it's indefensible. Yet according to the same article in the Times, the Office of Personnel Management not only allowed it, but it did so on a system that didn't require multifactor authentication. (There are many kinds, but a typical setup uses a one-time security code needed for access, which is texted to an authorized user's mobile phone.) When asked by the Times why such a system wasn't in place at the OPM, Donna Seymour, the agency's chief information officer, replied that adding more complex systems "in the government's 'antiquated environment' was difficult and very time consuming, and that her agency had to perform 'triage' to determine how to close the worst vulnerabilities."
Somehow I doubt knowing that protecting data "wasn't easy" will make the breach easier to accept for the more than 4 million federal employees whose information is now in harm's way (or their partners or spouses whose sensitive personal information was collected during security clearance investigations, and may have been exposed as well).
*A New Approach*
Given the above circumstances, the game changer -- at least for the short-term -- may be found in game theory. In an "imperfect information game," players are unaware of the actions chosen by their opponent. They know who the players are, and their possible strategies and actions, but no more than that. When it comes to data security and the way the "game" is set up now, our opponent knows that there are holes in our defenses and that sensitive data is often unencrypted.
Since we can't resolve vulnerabilities on command, one way to change the "game" would be to remove personal information from systems that don't require multifactor authentication. Another game changer would be to only store sensitive data in an encrypted, unusable form. According to Politico, the OPM stored Social Security numbers and other sensitive information without encryption.
This fixable problem is not getting the attention it demands, in part because Congress hasn't decided it's a priority.
The U.S. is not the only country getting hit hard in the data breach epidemic. The recent attack on the Japanese Pension Service compromised 1.25 million records, and Germany's Bundestag was recently hacked (though the motivation there appeared to be espionage, according to a report in Security Affairs).
According to an IBM X-Force Threat Intelligence report earlier this year, cyberattacks caused the leak of more than a billion records in 2014. The average cost for each record compromised in 2014 was $145, and has increased to $195, according to Experian. The average cost to a breached organization was $3.5 million in 2014, but is now up to $3.8 million. More than 2.3 million people have become victims of medical identity theft, with a half million last year alone. Last year, $5.8 billion was stolen from the IRS and the Treasury Inspector General for Tax Administration predicts that number could hit $26 billion by 2017.
If you look at the major hacks in recent history -- a list that includes the White House, the U.S. Post Office and the nation's second largest provider of health insurance -- it would seem highly unlikely that a lax attitude is to blame, but that is precisely the problem. A former senior administration adviser on cyber-issues spoke off the record with the New York Times about the OPM hack: "The mystery here is not how they got cleaned out by the Chinese. The mystery is what took the Chinese so long."
During this siege-period, while our defenses are no match for the hackers targeting our information, evasive measures are necessary. I agree with White House Press Secretary Josh Earnest, who said, "We need the United States Congress to come out of the Dark Ages and actually join us here in the 21st century to make sure that we have the kinds of defenses that are necessary to protect a modern computer system."
But laws take a long time, and we're in a cyber emergency. The question we need to ask today is whether, in the short term, the government can afford not putting our most sensitive information behind a lock that requires two key-holders -- the way nukes are deployed -- or storing it offline until proper encryption protocols can be put in place.
-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website. Reported by Huffington Post 1 day ago.
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Assurant to exit health insurance business
Reported by SeekingAlpha 1 day ago.
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WellCare of Kentucky Opens Welcome Room to Serve Louisville-Area Residents
Jefferson County Teacher Named CommUnity Hero at Facilities’ Open House
TAMPA, Fla. (PRWEB) June 10, 2015
WellCare Health Plans, Inc. (NYSE: WCG), a leading provider of managed care services for government-sponsored health care programs, announced today that WellCare of Kentucky opened a new Welcome Room to serve residents in the Louisville area. WellCare’s Welcome Rooms are neighborhood health care information, education and sales centers that are open to the public and staffed by WellCare associates who can answer questions about Medicaid, Medicare and the Health Insurance Marketplace. They offer a comfortable environment where visitors can ask questions about health plans, find out if they are eligible for extra benefits, get online to search for more information and enroll in a WellCare health plan.
“WellCare of Kentucky is focused on increasing access to care for those who need help most, including children and families, and the elderly, disabled and those with complex medical needs,” said Kelly Munson, WellCare’s senior vice president and regional president for Kentucky, as well as six additional states. “This new Welcome Room extends our presence in the community and makes it easier for Louisville-area residents to access important health information right where they live and work.”
As part of on-going efforts to serve the community, WellCare hosted an open house at the new Welcome Room. During the event, WellCare of Kentucky presented Kitty Head, an adult education teacher in Jefferson County, with its CommUnity Hero Award. Head was recognized for the nearly three decades she has dedicated herself to helping adults successfully complete General Educational Development (GED) testing, which qualifies them for a Certificate of High School Equivalency.
"I am so honored to receive this award," said Head. "WellCare understands that education brings opportunities and helps people to drastically improve their quality of life. Nothing compares to seeing the pride on the faces of those who earn their GED credentials, as it opens doors for them to help themselves, their families and their communities."
WellCare of Kentucky covers the cost of General Educational Development (GED) testing for eligible members. For more information about the GED benefits in Kentucky, please visit http://kentucky.wellcare.com/member or call 1-877-389-9457 (TTY/TDD 1-877-247-6272) Monday through Friday from 7 a.m. to 7 p.m.
This is WellCare’s first Welcome Room in the commonwealth. Currently, WellCare operates 33 Welcome Rooms throughout the country in states including Florida, Hawaii, New York and Texas. For more information about the services offered at WellCare’s Louisville Welcome Room, call 1-502-772-5101.
As of March 31, 2015, WellCare serves approximately 441,000 Medicaid members, 6,000 Medicare Advantage plan members and 21,000 Medicare Prescription Drug Plan members in Kentucky. To learn more about how we care for Kentuckians, watch Brandi’s story at http://youtu.be/YwOw5EgeSYo.
About WellCare Health Plans, Inc.
Headquartered in Tampa, Fla., WellCare Health Plans, Inc. (NYSE: WCG) focuses exclusively on providing government-sponsored managed care services, primarily through Medicaid, Medicare Advantage and Medicare Prescription Drug Plans, to families, children, seniors and individuals with complex medical needs. WellCare serves approximately 3.8 million members nationwide as of March 31, 2015. For more information about WellCare, please visit the company's website at http://www.wellcare.com or view the company’s videos at https://www.youtube.com/user/WellCareHealthPlan. Reported by PRWeb 1 day ago.
TAMPA, Fla. (PRWEB) June 10, 2015
WellCare Health Plans, Inc. (NYSE: WCG), a leading provider of managed care services for government-sponsored health care programs, announced today that WellCare of Kentucky opened a new Welcome Room to serve residents in the Louisville area. WellCare’s Welcome Rooms are neighborhood health care information, education and sales centers that are open to the public and staffed by WellCare associates who can answer questions about Medicaid, Medicare and the Health Insurance Marketplace. They offer a comfortable environment where visitors can ask questions about health plans, find out if they are eligible for extra benefits, get online to search for more information and enroll in a WellCare health plan.
“WellCare of Kentucky is focused on increasing access to care for those who need help most, including children and families, and the elderly, disabled and those with complex medical needs,” said Kelly Munson, WellCare’s senior vice president and regional president for Kentucky, as well as six additional states. “This new Welcome Room extends our presence in the community and makes it easier for Louisville-area residents to access important health information right where they live and work.”
As part of on-going efforts to serve the community, WellCare hosted an open house at the new Welcome Room. During the event, WellCare of Kentucky presented Kitty Head, an adult education teacher in Jefferson County, with its CommUnity Hero Award. Head was recognized for the nearly three decades she has dedicated herself to helping adults successfully complete General Educational Development (GED) testing, which qualifies them for a Certificate of High School Equivalency.
"I am so honored to receive this award," said Head. "WellCare understands that education brings opportunities and helps people to drastically improve their quality of life. Nothing compares to seeing the pride on the faces of those who earn their GED credentials, as it opens doors for them to help themselves, their families and their communities."
WellCare of Kentucky covers the cost of General Educational Development (GED) testing for eligible members. For more information about the GED benefits in Kentucky, please visit http://kentucky.wellcare.com/member or call 1-877-389-9457 (TTY/TDD 1-877-247-6272) Monday through Friday from 7 a.m. to 7 p.m.
This is WellCare’s first Welcome Room in the commonwealth. Currently, WellCare operates 33 Welcome Rooms throughout the country in states including Florida, Hawaii, New York and Texas. For more information about the services offered at WellCare’s Louisville Welcome Room, call 1-502-772-5101.
As of March 31, 2015, WellCare serves approximately 441,000 Medicaid members, 6,000 Medicare Advantage plan members and 21,000 Medicare Prescription Drug Plan members in Kentucky. To learn more about how we care for Kentuckians, watch Brandi’s story at http://youtu.be/YwOw5EgeSYo.
About WellCare Health Plans, Inc.
Headquartered in Tampa, Fla., WellCare Health Plans, Inc. (NYSE: WCG) focuses exclusively on providing government-sponsored managed care services, primarily through Medicaid, Medicare Advantage and Medicare Prescription Drug Plans, to families, children, seniors and individuals with complex medical needs. WellCare serves approximately 3.8 million members nationwide as of March 31, 2015. For more information about WellCare, please visit the company's website at http://www.wellcare.com or view the company’s videos at https://www.youtube.com/user/WellCareHealthPlan. Reported by PRWeb 1 day ago.
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Underground Elephant Acquires Top Insurance Site, ZipQuote.com
Underground Elephant, one of the nation’s fastest-growing B2B customer acquisition companies, has acquired ZipQuote.com, a prominent B2C website that uses real-time quoting to connect online consumers to insurance providers.
San Diego, California (PRWEB) June 10, 2015
By leveraging ZipQuote.com’s Internet domain strength and consumer-matching technology, Underground Elephant will further expand its robust portfolio of proprietary lead generation assets.
Agents, carriers, and the insurance industry as a whole are positioned to benefit from this strategic expansion, as Underground Elephant continues to meet growing demand for its products by further increasing its capacity to deliver high-intent leads with exceptionally low conversion costs.
“The acquisition of ZipQuote.com is an invaluable addition to Underground Elephant’s ever-accelerating momentum as the insurance industry’s preferred independent lead generator.” remarks Jason Kulpa, CEO of Underground Elephant. “While big lead aggregators defend the status quo and actively block progress in the insurance industry, Underground Elephant and ZipQuote can and will continually innovate on behalf of agents, providing the insurance industry with high-intent prospects as efficiently as possible. It’s the right thing to do.”
Bob Bernstein, CEO of ZipQuote.com added, “Underground Elephant was ultimately the best partner to drive the vision of making ZipQuote a household brand through quality traffic acquisition.”
In order to further streamline the user experience of its thousands of agents, Underground Elephant will transition the insurance-specific portion of its business to the new ZipQuote brand, which remains “Powered by Underground Elephant” in terms of both technology and leadership.
Both brands remain independent, meaning ZipQuote will deliver the same high-quality leads, personalized services, and trusted expertise expected by Underground Elephant customers.
Underground Elephant purchased ZipQuote.com and related entities for an undisclosed sum. This marks Underground Elephant’s first acquisition of 2015 and occurs in step with its own internal expansion, as it continues to create jobs, form new partnerships, and advance its position as a technology leader in Southern California.
About Underground Elephant
Founded in 2008, Underground Elephant is a performance-based marketing technology company that provides Internet marketing software, customer-acquisition solutions, and enterprise-grade SaaS partnerships. Servicing multiple industries, including auto insurance, post-secondary education, health insurance and home services, Underground Elephant’s highly efficient, proprietary technology generates qualified customer inquiries across a wide array of digital channels and devices with low conversion costs. For more information, visit http://www.undergroundelephant.com.
About ZipQuote (Powered by Underground Elephant)
ZipQuote is a popular insurance lead generation provider with B2C product offerings and B2B lead generation services for agents. For consumers, ZipQuote provides an online destination where prospective insurance buyers can research information and receive real-time quotes based on ZipQuote’s proprietary matching technology and partnerships with locally registered agents. For agents, ZipQuote offers high-intent leads and personalized services to meet each agent’s unique business needs. Additionally, ZipQuote Exchange is a streamlined management platform that simplifies agents’ lead buying needs. For more information about ZipQuote, visit http://www.zipquote.com. Reported by PRWeb 1 day ago.
San Diego, California (PRWEB) June 10, 2015
By leveraging ZipQuote.com’s Internet domain strength and consumer-matching technology, Underground Elephant will further expand its robust portfolio of proprietary lead generation assets.
Agents, carriers, and the insurance industry as a whole are positioned to benefit from this strategic expansion, as Underground Elephant continues to meet growing demand for its products by further increasing its capacity to deliver high-intent leads with exceptionally low conversion costs.
“The acquisition of ZipQuote.com is an invaluable addition to Underground Elephant’s ever-accelerating momentum as the insurance industry’s preferred independent lead generator.” remarks Jason Kulpa, CEO of Underground Elephant. “While big lead aggregators defend the status quo and actively block progress in the insurance industry, Underground Elephant and ZipQuote can and will continually innovate on behalf of agents, providing the insurance industry with high-intent prospects as efficiently as possible. It’s the right thing to do.”
Bob Bernstein, CEO of ZipQuote.com added, “Underground Elephant was ultimately the best partner to drive the vision of making ZipQuote a household brand through quality traffic acquisition.”
In order to further streamline the user experience of its thousands of agents, Underground Elephant will transition the insurance-specific portion of its business to the new ZipQuote brand, which remains “Powered by Underground Elephant” in terms of both technology and leadership.
Both brands remain independent, meaning ZipQuote will deliver the same high-quality leads, personalized services, and trusted expertise expected by Underground Elephant customers.
Underground Elephant purchased ZipQuote.com and related entities for an undisclosed sum. This marks Underground Elephant’s first acquisition of 2015 and occurs in step with its own internal expansion, as it continues to create jobs, form new partnerships, and advance its position as a technology leader in Southern California.
About Underground Elephant
Founded in 2008, Underground Elephant is a performance-based marketing technology company that provides Internet marketing software, customer-acquisition solutions, and enterprise-grade SaaS partnerships. Servicing multiple industries, including auto insurance, post-secondary education, health insurance and home services, Underground Elephant’s highly efficient, proprietary technology generates qualified customer inquiries across a wide array of digital channels and devices with low conversion costs. For more information, visit http://www.undergroundelephant.com.
About ZipQuote (Powered by Underground Elephant)
ZipQuote is a popular insurance lead generation provider with B2C product offerings and B2B lead generation services for agents. For consumers, ZipQuote provides an online destination where prospective insurance buyers can research information and receive real-time quotes based on ZipQuote’s proprietary matching technology and partnerships with locally registered agents. For agents, ZipQuote offers high-intent leads and personalized services to meet each agent’s unique business needs. Additionally, ZipQuote Exchange is a streamlined management platform that simplifies agents’ lead buying needs. For more information about ZipQuote, visit http://www.zipquote.com. Reported by PRWeb 1 day ago.
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TAA Will Offer Little Help to Workers Hit Hard by Trade
For years, the Teamsters have been strong supporters of Trade Adjustment Assistance (TAA) legislative efforts that have offered support to thousands of workers who have lost their jobs due to bad trade deals. But not this time.
As lawmakers get ready to consider TAA legislation in the House in an effort to sweeten the pot and encourage the passage of the fast track trade bill, they too should reconsider their support of the measure. For while past efforts have provided the necessary funding to cover training, income and other support for this workers, the current version fails to deliver. And that cannot be overlooked.
There are signs that House members are beginning to realize this. While a vote on TAA could happen as soon as tomorrow, bipartisan opposition is stiffening as grassroots forces raise their opposition to the measure. A vote may now slip until next week, or even longer if opponents keep the pressure up.
No matter when it takes place, however, lawmakers must oppose TAA. This incarnation of the bill is not equipped to handle the massive size of either the proposed Trans-Pacific Partnership (TPP) or the Trans-Atlantic Trade and Investment Partnership (TTIP).
In addition, the legislation has other significant faults. It would inexplicably force some $700 million in cuts to Medicare. Given the financial challenges the health insurance plan for seniors already faces, it is unconscionable that Congress would place this additional burden on it.
Medicare should not be raided to pay for unrelated legislation. Maintaining the financial integrity of the program is essential to ensure that it can provide the services those aged 65 and over count on. Seniors deserve dependability for health care services that Medicare gives them. Their needs should not be pitted against those of workers dependent on TAA. Some lawmakers already realize this, but it's time for more to get on board.
The Teamsters also oppose any legislative efforts to try and backfill Medicare in a different bill. We've seen that play out before, and often such efforts don't follow through as planned. Covering the cost of TAA should be handled in the TAA bill. There are other ways to fund trade assistance for workers without undermining Medicare.
In addition, the current TAA doesn't cover public sector workers, who were included under the 2009 TAA renewal, leaving them vulnerable to having their jobs privatized or just scrapped. The Teamsters represent some 260,000 public employees. We cannot allow them and millions of other public sector workers to be left out in the cold as casualties of another failed trade agreement. The TAA in this form is unacceptable.
TAA will be considered concurrently as the House mulls fast track. That's intentional, as it's supposed to give cover to those who vote in favor of fast track to show they are looking out for workers who are going to be hit hard by agreements like the 12-nation TPP that will be implemented if the trade promotion vehicle is approved. But all that will happen is workers will get hammered even more.
We can't allow that to happen. That's why the Teamsters and many other unions signed onto a letter sent to House lawmakers yesterday. It lets elected officials know they are not doing hardworking Americans any favors by supporting TAA in this form.
The Teamsters have been telling Congress for years that fast track is the wrong track for this country. Well, now so is this TAA.
-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website. Reported by Huffington Post 21 hours ago.
As lawmakers get ready to consider TAA legislation in the House in an effort to sweeten the pot and encourage the passage of the fast track trade bill, they too should reconsider their support of the measure. For while past efforts have provided the necessary funding to cover training, income and other support for this workers, the current version fails to deliver. And that cannot be overlooked.
There are signs that House members are beginning to realize this. While a vote on TAA could happen as soon as tomorrow, bipartisan opposition is stiffening as grassroots forces raise their opposition to the measure. A vote may now slip until next week, or even longer if opponents keep the pressure up.
No matter when it takes place, however, lawmakers must oppose TAA. This incarnation of the bill is not equipped to handle the massive size of either the proposed Trans-Pacific Partnership (TPP) or the Trans-Atlantic Trade and Investment Partnership (TTIP).
In addition, the legislation has other significant faults. It would inexplicably force some $700 million in cuts to Medicare. Given the financial challenges the health insurance plan for seniors already faces, it is unconscionable that Congress would place this additional burden on it.
Medicare should not be raided to pay for unrelated legislation. Maintaining the financial integrity of the program is essential to ensure that it can provide the services those aged 65 and over count on. Seniors deserve dependability for health care services that Medicare gives them. Their needs should not be pitted against those of workers dependent on TAA. Some lawmakers already realize this, but it's time for more to get on board.
The Teamsters also oppose any legislative efforts to try and backfill Medicare in a different bill. We've seen that play out before, and often such efforts don't follow through as planned. Covering the cost of TAA should be handled in the TAA bill. There are other ways to fund trade assistance for workers without undermining Medicare.
In addition, the current TAA doesn't cover public sector workers, who were included under the 2009 TAA renewal, leaving them vulnerable to having their jobs privatized or just scrapped. The Teamsters represent some 260,000 public employees. We cannot allow them and millions of other public sector workers to be left out in the cold as casualties of another failed trade agreement. The TAA in this form is unacceptable.
TAA will be considered concurrently as the House mulls fast track. That's intentional, as it's supposed to give cover to those who vote in favor of fast track to show they are looking out for workers who are going to be hit hard by agreements like the 12-nation TPP that will be implemented if the trade promotion vehicle is approved. But all that will happen is workers will get hammered even more.
We can't allow that to happen. That's why the Teamsters and many other unions signed onto a letter sent to House lawmakers yesterday. It lets elected officials know they are not doing hardworking Americans any favors by supporting TAA in this form.
The Teamsters have been telling Congress for years that fast track is the wrong track for this country. Well, now so is this TAA.
-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website. Reported by Huffington Post 21 hours ago.
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Wednesday’s most followed in U.S. including Netflix, Qorvo, Nvidia, NetApp, Mattress Farm, Johnson Controls, HCC Insurance, Prudential Financial, Assurant, GlobeImmune
U.S. shares opened higher today as a continued rise in oil prices buoyed energy shares. The S&P 500 (INDEXSP:.INX) added 1.2 percent to 2,105.02 at 11:50 a.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) advanced 1.4 percent to 18,009.58, while the tech-heavy Nasdaq 100 (INDEXNASDAQ:NDX) jumped 1.3 percent to 5,076.32. Most followed shares included Netflix, Qorvo, Nvidia, NetApp, Oxford Industries, Mattress Farm, Johnson Controls, HCC Insurance Holdings, Prudential Financial, Assurant, and GlobeImmune.
In technology stocks, Netflix (NASDAQ:NFLX) added 5.6 percent to $684.00 after the provider of Internet television network approved a massive increase in the number of shares the company is authorized to issue, the first step toward a possible stock split. Chief Executive Reed Hastings said at the company's annual meeting that management will seek approval from the board of directors "in due course" to pursue a stock split, Netflix spokeswoman Anne Marie Squeo said.
Qorvo (NASDAQ:QRVO) rose 1.5 percent to $81.25. The mobile technology company's stock will replace tobacco producer Lorillard (NYSE:LO) in the S&P 500 after the close of trading Thursday. Lorillard is being acquired by Reynolds American.
Nvidia (NASDAQ:NVDA) fell 1.7 percent to $21.49. Nomura downgraded the chip maker's stock to "neutral" from "buy," saying a number of factors could pressure demand for Nvidia's video graphics cards in the second half of the year.
NetApp (NASDAQ:NTAP) gained 1.2 percent to $33.53. RBC Capital upgraded its rating on NetApp to "outperform" from "sector perform," saying the data management company's appointment of a new CEO could cause value to be unlocked.
In consumer shares, Oxford Industries (NYSE:OXM) climbed 6.5 percent to $86.30 after the clothing retailer late yesterday reported earnings that topped analyst estimates.
Mattress Firm (NASDAQ:MFRM) slumped 4.3 percent to $59.06. The mattresses retailer reported first quarter profit of 33 cents per share, 6 cents below estimates, with revenue also below forecasts, although sales did jump significantly from a year earlier. Same-store sales for the mattress retailer were up 1.3 percent.
Johnson Controls (NYSE:JCI) increased 4.9 percent to $54.06 after saying it is considering a sale of its automotive business, the latest potential divestiture for the industrial company.
In financials, HCC Insurance Holdings (NYSE:HCC) soared 36 percent to $76.99 after Tokio Marine Holdings said it had agreed to buy U.S. specialty insurer for $7.5 billion. Tokio Marine will pay $78 in cash per share for Houston, Texas-based HCC, according to a statement today. That’s a 37.6 percent premium to the latest closing price. The purchase will be financed through cash and borrowing.
Prudential Financial (NYSE:PRU) gained 2.8 percent to $90.43. The insurer added $1 billion to its stock buyback program.
Assurant (NYSE:AIZ) climbed 1.8 percent to $66.99. The provider of insurance products will exit the health insurance market and will immediately begin to wind down its major medical operations. The company agreed in principle to sell certain assets to National General Holdings (NASDAQ:NGHC).
In other stocks, GlobeImmune (NASDAQ:GBIM) tumbled 27.3 percent to $2.75 after saying it will eliminate most of its workforce and evaluate strategic options, less than a year after the biopharmaceutical company went public.
Reported by Proactive Investors 22 hours ago.
In technology stocks, Netflix (NASDAQ:NFLX) added 5.6 percent to $684.00 after the provider of Internet television network approved a massive increase in the number of shares the company is authorized to issue, the first step toward a possible stock split. Chief Executive Reed Hastings said at the company's annual meeting that management will seek approval from the board of directors "in due course" to pursue a stock split, Netflix spokeswoman Anne Marie Squeo said.
Qorvo (NASDAQ:QRVO) rose 1.5 percent to $81.25. The mobile technology company's stock will replace tobacco producer Lorillard (NYSE:LO) in the S&P 500 after the close of trading Thursday. Lorillard is being acquired by Reynolds American.
Nvidia (NASDAQ:NVDA) fell 1.7 percent to $21.49. Nomura downgraded the chip maker's stock to "neutral" from "buy," saying a number of factors could pressure demand for Nvidia's video graphics cards in the second half of the year.
NetApp (NASDAQ:NTAP) gained 1.2 percent to $33.53. RBC Capital upgraded its rating on NetApp to "outperform" from "sector perform," saying the data management company's appointment of a new CEO could cause value to be unlocked.
In consumer shares, Oxford Industries (NYSE:OXM) climbed 6.5 percent to $86.30 after the clothing retailer late yesterday reported earnings that topped analyst estimates.
Mattress Firm (NASDAQ:MFRM) slumped 4.3 percent to $59.06. The mattresses retailer reported first quarter profit of 33 cents per share, 6 cents below estimates, with revenue also below forecasts, although sales did jump significantly from a year earlier. Same-store sales for the mattress retailer were up 1.3 percent.
Johnson Controls (NYSE:JCI) increased 4.9 percent to $54.06 after saying it is considering a sale of its automotive business, the latest potential divestiture for the industrial company.
In financials, HCC Insurance Holdings (NYSE:HCC) soared 36 percent to $76.99 after Tokio Marine Holdings said it had agreed to buy U.S. specialty insurer for $7.5 billion. Tokio Marine will pay $78 in cash per share for Houston, Texas-based HCC, according to a statement today. That’s a 37.6 percent premium to the latest closing price. The purchase will be financed through cash and borrowing.
Prudential Financial (NYSE:PRU) gained 2.8 percent to $90.43. The insurer added $1 billion to its stock buyback program.
Assurant (NYSE:AIZ) climbed 1.8 percent to $66.99. The provider of insurance products will exit the health insurance market and will immediately begin to wind down its major medical operations. The company agreed in principle to sell certain assets to National General Holdings (NASDAQ:NGHC).
In other stocks, GlobeImmune (NASDAQ:GBIM) tumbled 27.3 percent to $2.75 after saying it will eliminate most of its workforce and evaluate strategic options, less than a year after the biopharmaceutical company went public.
Reported by Proactive Investors 22 hours ago.
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States' Boost To Adult Dental Care Could Help Low-Income Residents
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.
NEW YORK – At the Interfaith Dental Center in Crown Heights, Brooklyn, people with dental pain can walk into a ground floor office off Bedford Avenue and get treated without an appointment. They might have to wait in a packed waiting room. But if they’re in the door by 5 p.m., a dentist will see them.
Residents in this low- to middle-income neighborhood likely don’t realize how lucky they are. The majority of Americans have to travel miles to see a dentist who takes their insurance, particularly if they’re covered by Medicaid. Many dental patients with private insurance cannot afford to pay their share of the bill.
Federal law requires state Medicaid programs to include dental care for children, and the Affordable Care Act extended that requirement to private insurers. But the federal health law did little for adults: While premium tax credits were made available to help low-income people purchase health insurance, the subsidies cannot be used to purchase dental coverage except as an add-on to health coverage. No new dental benefit requirements were included for adults covered by Medicaid.
“The ACA was a big flop when it comes to adult dental coverage,” said Dr. Jonathan Shenkin, vice president of the American Dental Association (ADA).
Even so, some states have stepped up coverage for at least some adults on Medicaid. Virginia added a dental benefit for pregnant women in March. Colorado introduced limited adult dental coverage for the first time last year. Also last year, California, Illinois, Massachusetts and South Carolina reinstated benefits that had been cut in the years since the recession began in 2007. Indiana began offering expanded adult dental benefits this year.
Shenkin acknowledged the federal health law’s provision allowing young adults to stay covered by their parents’ insurance until age 26 has helped. Fewer young adults are showing up in emergency rooms with dental pain, according to an April ADA survey. About 1.4 million Americans have purchased dental coverage on health insurance exchanges since January 2014 when the law took full effect. “But overall, we’ve seen no real improvement in the quality of adult dental coverage for decades,” he said.
It’s not just a Medicaid problem. Employer-sponsored insurance typically caps coverage at $1,500 per year, the same level as 30 years ago when dental insurance was first offered. Medicaid dental coverage has had even lower spending caps in most places. States vary widely when it comes to adult dental benefits, but on average, Medicaid dental coverage has declined since the recession.
“Adult dental benefits are caught in a pendulum swing of contraction in fiscal downturns and expansion when fiscal pressures go away,” said Andrew Snyder, dental expert at the National Academy of State Health Policy. “That’s been the story for a long time. I don’t know that there was ever a time when adult dental was really great.”
Although the ACA does not make Medicaid dental coverage mandatory for adults, it gives states that have chosen to expand Medicaid a potential financial incentive to include dental benefits.
Under the ACA, the federal government pays the entire health care bill for all newly enrolled adults with incomes below 138 percent of the federal poverty level ($16,243 for an individual) through 2016. After that, the federal share gradually decreases to 90 percent in 2020 and beyond. As a result, officials in a few states are considering dental coverage for the first time or reinstating coverage cut during the last recession.
New York and 14 other states have nearly comprehensive coverage, 16 states and the District of Columbia offer limited coverage, and 14 states cover only emergency dental care. Alabama, Arizona, Delaware, Maryland and Tennessee offer no adult dental coverage.
Another barrier to dental care for low-income adults is the relatively low reimbursement rates offered by state Medicaid programs. Extensive paperwork and oversight also limit the number of dentists willing to take Medicaid patients. (The ACA calls for even more intensive oversight and audits.) The result is poor access to preventive care for low-income people on Medicaid in much of the country, ultimately resulting in higher overall costs.
The problem is not limited to Medicaid. Most employer-sponsored insurance pays for only a portion of the cost of an annual checkup and a few fillings. For moderate-income people who need more extensive restorative work, out-of-pocket expenses can be unaffordable. In a recent survey, nearly four out of 10 respondents said they or a family member had put off seeing a dentist because of concerns about out-of-pocket expenses.
Americans spend as much to treat dental disease — almost all of it preventable — as on the treatment of all cancers combined, according to DentaQuest, a research and advocacy organization and administrator of dental insurance plans, including Medicaid.
-Patchwork of Funding-
New York has offered comprehensive dental coverage for adults in Medicaid for as long as anyone can remember. But the fees it pays dentists are among the lowest in the country — only 37 percent of what private insurance pays.
Still, New Yorkers, particularly those living in the populous southern half of the state close to New York City have better access to dental care than most people in the country. The biggest reason is the state requires dental students to complete a year of postgraduate residency to become certified. To do that, they must provide full-time dental care wherever they can find patients.
That requirement adds about 900 dentists to the state’s workforce at any given time, all of them on salary and eager to work on Medicaid enrollees and other low-income patients, said Dr. David Miller, who heads the Interfaith Dental Center. (Delaware is the only other state that has a similar dental residency requirement.)
In Crown Heights, Miller said his clinic also benefits from its affiliation with Interfaith Medical Center, which is about a mile away. The staff there includes grant writers who have brought in federal, state and local money to help provide the services most in demand in the community. Adult dental care is a top priority, he said.
Miller said his clinic is part of Interfaith’s integrated medical system. Dentistry is not separate, it’s a collaboration with the emergency department, anesthesia and internal medicine. “Our patients are being well taken care of,” Miller said. “We couldn’t do it on Medicaid alone.”
As president-elect of the New York dental association, Miller said he’s concerned that the statewide enrollment of dentists in Medicaid’s provider network is stagnant. New York has begun a transition to managed care for dentistry and other health care services that he anticipates will present even more challenges for dentists who serve Medicaid patients, especially small practices.
Under Medicaid managed care, all dental practices will have to negotiate separately with each insurance plan if they want to serve Medicaid patients. “If you’re not a big entity with lots of practices and lots of specialties, you have a lot less to bring to the table. Managed care companies are trying to find one-stop shopping,” Miller said.
-Health and Cost Savings-
Medical research shows that poor oral health results in increased risk for diabetes, breathing disorders, cardiovascular disease and poor pregnancy outcomes such as preterm births and stillbirths. It also affects eating, speaking and self-esteem, as well employability.
Low-income adults are 40 percent less likely than those with higher incomes to have seen a dentist in the last year, according to the Center for Health Care Strategies, which provides research and technical assistance to state Medicaid programs. More than 40 percent have untreated tooth decay, and one-third of those 65 or older have lost all of their teeth. People with disabilities and elders who live in a nursing facility are at even greater risk of dental disease.
Lack of regular dental care also drives up costs. Unlike diabetes, hypertension and other chronic diseases that affect millions of people, dental disease affects everyone. With regular preventive care, most oral health problems can be avoided or curtailed. Without it, people end up in emergency rooms, often with problems that are more expensive to treat, Shenkin explained.
A recent study showed that California’s decision to end its dental program in 2009, which had covered 3.5 million low-income adults, resulted in a 68 percent increase in costs for emergency department use for dental pain.
“I think the important point here is although the Medicaid dental benefit for adults is optional, savings derived from dropping the benefit are somewhat eaten up by the increased costs from adults seeking dental care in hospital emergency departments,” author Astha Singhal wrote in the journal Health Affairs.
-Lack of Continuity-
Many Americans aren’t aware of the importance of oral health. With a scarcity of dentists, particularly in rural areas, transportation can also be an issue.
Too many people think they don’t need to go to a dentist unless they’re in pain, said Stacey Chazin, senior program officer at the Center for Health Care Strategies. At that point, they often have nowhere to go but emergency rooms, she said.
Once they see a dentist and learn more about oral health, people tend to go in for regular check-ups, she said. But maintaining continuity of care can be difficult when state Medicaid programs shrink or withdraw dental coverage from one year to the next.
Fluctuations in Medicaid benefits also affect dentists’ willingness to go to the effort of registering as a Medicaid provider. “It’s no way to build a relationship with the dental community,” said Matt Salo, executive director of the National Association of Medicaid Directors.
Because adult dental care is optional, states have to justify it financially, he said. So far, there are no standard quality measures for dental health, and most studies project savings over too long a time frame for states to warrant the added expenditure in any given budget year.
That may be changing, though. According to Salo, state Medicaid agencies are becoming more interested in improving the health of their overall populations. Increased recognition that dental health is an important component of health and economic mobility may spur more states to include dental benefits, particularly in expansion states where many of the new adults coming into the Medicaid system have untreated dental conditions, he said.
In the few states that have expanded adult dental coverage so far, it’s too early to know how much of a difference it will make in improving oral health and saving on Medicaid spending, Chazin said. “Folks need to know about it and enroll. They need to be educated about it and find a provider. It will take at least a year or two.”-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website. Reported by Huffington Post 22 hours ago.
NEW YORK – At the Interfaith Dental Center in Crown Heights, Brooklyn, people with dental pain can walk into a ground floor office off Bedford Avenue and get treated without an appointment. They might have to wait in a packed waiting room. But if they’re in the door by 5 p.m., a dentist will see them.
Residents in this low- to middle-income neighborhood likely don’t realize how lucky they are. The majority of Americans have to travel miles to see a dentist who takes their insurance, particularly if they’re covered by Medicaid. Many dental patients with private insurance cannot afford to pay their share of the bill.
Federal law requires state Medicaid programs to include dental care for children, and the Affordable Care Act extended that requirement to private insurers. But the federal health law did little for adults: While premium tax credits were made available to help low-income people purchase health insurance, the subsidies cannot be used to purchase dental coverage except as an add-on to health coverage. No new dental benefit requirements were included for adults covered by Medicaid.
“The ACA was a big flop when it comes to adult dental coverage,” said Dr. Jonathan Shenkin, vice president of the American Dental Association (ADA).
Even so, some states have stepped up coverage for at least some adults on Medicaid. Virginia added a dental benefit for pregnant women in March. Colorado introduced limited adult dental coverage for the first time last year. Also last year, California, Illinois, Massachusetts and South Carolina reinstated benefits that had been cut in the years since the recession began in 2007. Indiana began offering expanded adult dental benefits this year.
Shenkin acknowledged the federal health law’s provision allowing young adults to stay covered by their parents’ insurance until age 26 has helped. Fewer young adults are showing up in emergency rooms with dental pain, according to an April ADA survey. About 1.4 million Americans have purchased dental coverage on health insurance exchanges since January 2014 when the law took full effect. “But overall, we’ve seen no real improvement in the quality of adult dental coverage for decades,” he said.
It’s not just a Medicaid problem. Employer-sponsored insurance typically caps coverage at $1,500 per year, the same level as 30 years ago when dental insurance was first offered. Medicaid dental coverage has had even lower spending caps in most places. States vary widely when it comes to adult dental benefits, but on average, Medicaid dental coverage has declined since the recession.
“Adult dental benefits are caught in a pendulum swing of contraction in fiscal downturns and expansion when fiscal pressures go away,” said Andrew Snyder, dental expert at the National Academy of State Health Policy. “That’s been the story for a long time. I don’t know that there was ever a time when adult dental was really great.”
Although the ACA does not make Medicaid dental coverage mandatory for adults, it gives states that have chosen to expand Medicaid a potential financial incentive to include dental benefits.
Under the ACA, the federal government pays the entire health care bill for all newly enrolled adults with incomes below 138 percent of the federal poverty level ($16,243 for an individual) through 2016. After that, the federal share gradually decreases to 90 percent in 2020 and beyond. As a result, officials in a few states are considering dental coverage for the first time or reinstating coverage cut during the last recession.
New York and 14 other states have nearly comprehensive coverage, 16 states and the District of Columbia offer limited coverage, and 14 states cover only emergency dental care. Alabama, Arizona, Delaware, Maryland and Tennessee offer no adult dental coverage.
Another barrier to dental care for low-income adults is the relatively low reimbursement rates offered by state Medicaid programs. Extensive paperwork and oversight also limit the number of dentists willing to take Medicaid patients. (The ACA calls for even more intensive oversight and audits.) The result is poor access to preventive care for low-income people on Medicaid in much of the country, ultimately resulting in higher overall costs.
The problem is not limited to Medicaid. Most employer-sponsored insurance pays for only a portion of the cost of an annual checkup and a few fillings. For moderate-income people who need more extensive restorative work, out-of-pocket expenses can be unaffordable. In a recent survey, nearly four out of 10 respondents said they or a family member had put off seeing a dentist because of concerns about out-of-pocket expenses.
Americans spend as much to treat dental disease — almost all of it preventable — as on the treatment of all cancers combined, according to DentaQuest, a research and advocacy organization and administrator of dental insurance plans, including Medicaid.
-Patchwork of Funding-
New York has offered comprehensive dental coverage for adults in Medicaid for as long as anyone can remember. But the fees it pays dentists are among the lowest in the country — only 37 percent of what private insurance pays.
Still, New Yorkers, particularly those living in the populous southern half of the state close to New York City have better access to dental care than most people in the country. The biggest reason is the state requires dental students to complete a year of postgraduate residency to become certified. To do that, they must provide full-time dental care wherever they can find patients.
That requirement adds about 900 dentists to the state’s workforce at any given time, all of them on salary and eager to work on Medicaid enrollees and other low-income patients, said Dr. David Miller, who heads the Interfaith Dental Center. (Delaware is the only other state that has a similar dental residency requirement.)
In Crown Heights, Miller said his clinic also benefits from its affiliation with Interfaith Medical Center, which is about a mile away. The staff there includes grant writers who have brought in federal, state and local money to help provide the services most in demand in the community. Adult dental care is a top priority, he said.
Miller said his clinic is part of Interfaith’s integrated medical system. Dentistry is not separate, it’s a collaboration with the emergency department, anesthesia and internal medicine. “Our patients are being well taken care of,” Miller said. “We couldn’t do it on Medicaid alone.”
As president-elect of the New York dental association, Miller said he’s concerned that the statewide enrollment of dentists in Medicaid’s provider network is stagnant. New York has begun a transition to managed care for dentistry and other health care services that he anticipates will present even more challenges for dentists who serve Medicaid patients, especially small practices.
Under Medicaid managed care, all dental practices will have to negotiate separately with each insurance plan if they want to serve Medicaid patients. “If you’re not a big entity with lots of practices and lots of specialties, you have a lot less to bring to the table. Managed care companies are trying to find one-stop shopping,” Miller said.
-Health and Cost Savings-
Medical research shows that poor oral health results in increased risk for diabetes, breathing disorders, cardiovascular disease and poor pregnancy outcomes such as preterm births and stillbirths. It also affects eating, speaking and self-esteem, as well employability.
Low-income adults are 40 percent less likely than those with higher incomes to have seen a dentist in the last year, according to the Center for Health Care Strategies, which provides research and technical assistance to state Medicaid programs. More than 40 percent have untreated tooth decay, and one-third of those 65 or older have lost all of their teeth. People with disabilities and elders who live in a nursing facility are at even greater risk of dental disease.
Lack of regular dental care also drives up costs. Unlike diabetes, hypertension and other chronic diseases that affect millions of people, dental disease affects everyone. With regular preventive care, most oral health problems can be avoided or curtailed. Without it, people end up in emergency rooms, often with problems that are more expensive to treat, Shenkin explained.
A recent study showed that California’s decision to end its dental program in 2009, which had covered 3.5 million low-income adults, resulted in a 68 percent increase in costs for emergency department use for dental pain.
“I think the important point here is although the Medicaid dental benefit for adults is optional, savings derived from dropping the benefit are somewhat eaten up by the increased costs from adults seeking dental care in hospital emergency departments,” author Astha Singhal wrote in the journal Health Affairs.
-Lack of Continuity-
Many Americans aren’t aware of the importance of oral health. With a scarcity of dentists, particularly in rural areas, transportation can also be an issue.
Too many people think they don’t need to go to a dentist unless they’re in pain, said Stacey Chazin, senior program officer at the Center for Health Care Strategies. At that point, they often have nowhere to go but emergency rooms, she said.
Once they see a dentist and learn more about oral health, people tend to go in for regular check-ups, she said. But maintaining continuity of care can be difficult when state Medicaid programs shrink or withdraw dental coverage from one year to the next.
Fluctuations in Medicaid benefits also affect dentists’ willingness to go to the effort of registering as a Medicaid provider. “It’s no way to build a relationship with the dental community,” said Matt Salo, executive director of the National Association of Medicaid Directors.
Because adult dental care is optional, states have to justify it financially, he said. So far, there are no standard quality measures for dental health, and most studies project savings over too long a time frame for states to warrant the added expenditure in any given budget year.
That may be changing, though. According to Salo, state Medicaid agencies are becoming more interested in improving the health of their overall populations. Increased recognition that dental health is an important component of health and economic mobility may spur more states to include dental benefits, particularly in expansion states where many of the new adults coming into the Medicaid system have untreated dental conditions, he said.
In the few states that have expanded adult dental coverage so far, it’s too early to know how much of a difference it will make in improving oral health and saving on Medicaid spending, Chazin said. “Folks need to know about it and enroll. They need to be educated about it and find a provider. It will take at least a year or two.”-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website. Reported by Huffington Post 22 hours ago.
↧
Some Insured Patients Still Skipping Care Because Of High Costs
Research shows that, even with health insurance, many people put off expensive surgery, medicine and tests because they can't afford the high deductibles or copays. A few states hope to change that.
Reported by NPR 19 hours ago.
↧
Wall Street rallies amid optimism over Greek debt talks
U.S. stocks advanced sharply today as technology and financial stocks pulled ahead amid optimism that progress is being made in Greece’s debt talks.
Today's rally, which marks a turnaround following a week-long slump in the stock market, was also due to a weakening dollar, which boosted commodities.
The S&P 500 (INDEXSP:.INX) added 2.1 percent to 2,105.02 at 3:43 p.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) advanced 1.4 percent to 18,005.61, while the tech-heavy Nasdaq 100 (INDEXNASDAQ:NDX) jumped 1.4 percent to 5,081.63.
Optimism toward a potential Greek deal with its creditors rose as people familiar with Germany’s position told Bloomberg News that Chancellor Angela Merkel’s government may be satisfied with Greece committing to at least one economic reform sought by creditors to open the door to bailout funds. The European Central Bank was also said to have raised the level of emergency cash available to Greek banks.
*MOVERS:*
HCC Insurance Holdings (NYSE:HCC) soared 36 percent to $77.19 after Tokio Marine Holdings said it had agreed to buy U.S. specialty insurer for $7.5 billion.
Netflix (NASDAQ:NFLX) added 4.4 percent to $674.37 after the provider of Internet television network approved a massive increase in the number of shares the company is authorized to issue, the first step toward a possible stock split.
Qorvo (NASDAQ:QRVO) rose 2.6 percent to $82.00. The mobile technology company's stock will replace tobacco producer Lorillard (NYSE:LO) in the S&P 500 after the close of trading tomorrow. Lorillard is being acquired by Reynolds American.
Nvidia (NASDAQ:NVDA) fell 1.6 percent to $21.52. Nomura downgraded the chip maker's stock to "neutral" from "buy," saying a number of factors could pressure demand for Nvidia's video graphics cards in the second half of the year.
NetApp (NASDAQ:NTAP) gained 1.2 percent to $33.49. RBC Capital upgraded its rating on NetApp to "outperform" from "sector perform," saying the data management company's appointment of a new CEO could cause value to be unlocked.
Oxford Industries (NYSE:OXM) climbed 6.1 percent to $85.96 after the clothing retailer late yesterday reported earnings that topped analyst estimates.
Mattress Firm (NASDAQ:MFRM) slumped 4.7 percent to $58.78. The mattresses retailer reported first quarter profit of 33 cents per share, 6 cents below estimates, with revenue also below forecasts.
Johnson Controls (NYSE:JCI) increased 4.3 percent to $53.80 after saying it is considering a sale of its automotive business, the latest potential divestiture for the industrial company.
Prudential Financial (NYSE:PRU) gained 2.9 percent to $90.54. The insurer added $1 billion to its stock buyback program.
Assurant (NYSE:AIZ) climbed 2.6 percent to $67.56. The provider of insurance products will exit the health insurance market and will immediately begin to wind down its major medical operations.
GlobeImmune (NASDAQ:GBIM) tumbled 23.5 percent to $2.93 after saying it will eliminate most of its workforce and evaluate strategic options, less than a year after the biopharmaceutical company went public.
*COMMODITIES:*
Gold for August delivery on Comex rose 0.8 percent to settle at $1,186.60 an ounce.
July crude climbed 2.1 percent to settle at $61.43 a barrel.
*OTHER MARKETS:*
The pan-European FTSEurofirst 300 share index closed up more than 1.7 percent.
Asian stocks closed mostly lower, with Chinese stocks pressured by MSCI's decision to delay the addition of Chinese A-shares to the benchmark MSCI emerging market index.
The dollar fell against the yen and the euro and U.S.
Treasury yields tracked German Bund yields higher.
Reported by Proactive Investors 17 hours ago.
Today's rally, which marks a turnaround following a week-long slump in the stock market, was also due to a weakening dollar, which boosted commodities.
The S&P 500 (INDEXSP:.INX) added 2.1 percent to 2,105.02 at 3:43 p.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) advanced 1.4 percent to 18,005.61, while the tech-heavy Nasdaq 100 (INDEXNASDAQ:NDX) jumped 1.4 percent to 5,081.63.
Optimism toward a potential Greek deal with its creditors rose as people familiar with Germany’s position told Bloomberg News that Chancellor Angela Merkel’s government may be satisfied with Greece committing to at least one economic reform sought by creditors to open the door to bailout funds. The European Central Bank was also said to have raised the level of emergency cash available to Greek banks.
*MOVERS:*
HCC Insurance Holdings (NYSE:HCC) soared 36 percent to $77.19 after Tokio Marine Holdings said it had agreed to buy U.S. specialty insurer for $7.5 billion.
Netflix (NASDAQ:NFLX) added 4.4 percent to $674.37 after the provider of Internet television network approved a massive increase in the number of shares the company is authorized to issue, the first step toward a possible stock split.
Qorvo (NASDAQ:QRVO) rose 2.6 percent to $82.00. The mobile technology company's stock will replace tobacco producer Lorillard (NYSE:LO) in the S&P 500 after the close of trading tomorrow. Lorillard is being acquired by Reynolds American.
Nvidia (NASDAQ:NVDA) fell 1.6 percent to $21.52. Nomura downgraded the chip maker's stock to "neutral" from "buy," saying a number of factors could pressure demand for Nvidia's video graphics cards in the second half of the year.
NetApp (NASDAQ:NTAP) gained 1.2 percent to $33.49. RBC Capital upgraded its rating on NetApp to "outperform" from "sector perform," saying the data management company's appointment of a new CEO could cause value to be unlocked.
Oxford Industries (NYSE:OXM) climbed 6.1 percent to $85.96 after the clothing retailer late yesterday reported earnings that topped analyst estimates.
Mattress Firm (NASDAQ:MFRM) slumped 4.7 percent to $58.78. The mattresses retailer reported first quarter profit of 33 cents per share, 6 cents below estimates, with revenue also below forecasts.
Johnson Controls (NYSE:JCI) increased 4.3 percent to $53.80 after saying it is considering a sale of its automotive business, the latest potential divestiture for the industrial company.
Prudential Financial (NYSE:PRU) gained 2.9 percent to $90.54. The insurer added $1 billion to its stock buyback program.
Assurant (NYSE:AIZ) climbed 2.6 percent to $67.56. The provider of insurance products will exit the health insurance market and will immediately begin to wind down its major medical operations.
GlobeImmune (NASDAQ:GBIM) tumbled 23.5 percent to $2.93 after saying it will eliminate most of its workforce and evaluate strategic options, less than a year after the biopharmaceutical company went public.
*COMMODITIES:*
Gold for August delivery on Comex rose 0.8 percent to settle at $1,186.60 an ounce.
July crude climbed 2.1 percent to settle at $61.43 a barrel.
*OTHER MARKETS:*
The pan-European FTSEurofirst 300 share index closed up more than 1.7 percent.
Asian stocks closed mostly lower, with Chinese stocks pressured by MSCI's decision to delay the addition of Chinese A-shares to the benchmark MSCI emerging market index.
The dollar fell against the yen and the euro and U.S.
Treasury yields tracked German Bund yields higher.
Reported by Proactive Investors 17 hours ago.
↧
↧
Insurers Seeking Big Obamacare Rate Hikes for Next Year
Health insurance prices may jump dramatically next year as some insurers are requesting double-digit rate increases.
Reported by Newsmax 14 hours ago.
↧
For those in California illegally, health services vary greatly by county
Margarita Vasquez lacked health insurance and couldn't afford an eye operation to ward off blindness.
Reported by L.A. Times 2 hours ago.
↧
9 part-time jobs with better perks than yours
For most workers, the perks at hourly, part-time jobs are the pits — no paid vacation, health insurance, tuition reimbursement or sick pay. But some companies are bucking that trend...
Reported by NY Post 14 hours ago.
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