Failing insurers. Rising premiums. Financial losses. The deteriorating Obamacare market that the health insurance industry feared is here.As concerns about the survival of the Affordable Care Act's markets intensify, the role of nonprofit "co-op" health insurers -- meant to...
Reported by Newsmax 21 hours ago.
Failing Obamacare Nonprofit Co-Ops Add to 'Death Spiral' Fears
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Apple Watch News: Health Insurance Aetna to Subsidize Wearable Smartwatch for Customers [DETAILS]
The wearable Apple Watch can be yours for cheap if you enroll in Aetna's health insurance program.
Reported by Christian Post 9 hours ago.
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This exclusive report reveals the ABCs of the IoT
The Internet of Things (IoT) Revolution is picking up speed and it will change how we live, work, and entertain ourselves in a million ways big and small.
From agriculture to defense, retail to healthcare, everything is going to be impacted by the growing ability of businesses, governments, and consumers to connect to and control their environments:
· “Smart mirrors” will allow consumers to try on clothes digitally, enhancing their shopping experience and reducing returns for the retailer
· Assembly line sensors will detect tiny drops in efficiency that indicate critical equipment is wearing out and schedule down-time maintenance in response
· Agricultural equipment guided by GPS and IoT technology will soon plant, fertilize and harvest vast croplands like a giant Roomba while the “driver” reads a magazine
· Active people will share lifestyle data from their fitness trackers in order to help their doctor make better health care decisions (and capture discounts on health insurance premiums)
No wonder the Internet of Things has been called “the next Industrial Revolution.” It’s so big that it could mean new revenue streams for your company and new opportunities for you. The only question is: Are you fully up to speed on the IoT?
After months of researching and reporting this exploding trend, John Greenough and Jonathan Camhi of Business Insider Intelligence have put together an essential briefing that explains the exciting present and the fascinating future of the Internet of Things. It covers how IoT is being implemented today, where the new sources of opportunity will be tomorrow and how 17 separate sectors of the economy will be transformed over the next 20 years, including:
· Agriculture
· Connected Home
· Defense
· Financial services
· Food services
· Healthcare
· Hospitality
· Infrastructure
· Insurance
· Logistics
· Manufacturing
· Oil, gas, and mining
· Retail
· Smart buildings
· Transportation
· Connected Car
· Utilities
If you work in any of these sectors, it's important for you to understand how the IoT will change your business and possibly even your career. And if you’re employed in any of the industries that will build out the IoT infrastructure—networking, semiconductors, telecommunications, data storage, cybersecurity—this report is a must-have.
Among the big picture insights you’ll get from *The Internet of Things: Examining How the IoT Will Affect The World*:
· IoT devices connected to the Internet will more than triple by 2020, from 10 billion to 34 billion. IoT devices will account for 24 billion, while traditional computing devices (e.g. smartphones, tablets, smartwatches, etc.) will comprise 10 billion.
· Nearly $6 trillion will be spent on IoT solutions over the next five years.
· Businesses will be the top adopter of IoT solutions because they will use IoT to 1) lower operating costs; 2) increase productivity; and 3) expand to new markets or develop new product offerings.
· Governments will be the second-largest adopters, while consumers will be the group least transformed by the IoT.
And when you dig deep into the report, you’ll get the whole story in a clear, no-nonsense presentation:
· The complex infrastructure of the Internet of Things distilled into a single ecosystem
· The most comprehensive breakdown of the benefits and drawbacks of mesh (e.g. ZigBee, Z- Wave, etc.), cellular (e.g. 3G/4G, Sigfox, etc.), and internet (e.g. Wi-Fi, Ethernet, etc.) networks
· The important role analytics systems, including edge analytics, cloud analytics, will play in making the most of IoT investments
· The sizable security challenges presented by the IoT and how they can be overcome
· The four powerful forces driving IoT innovation, plus the four difficult market barriers to IoT adoption
· Complete analysis of the likely future investment in the critical IoT infrastructure: connectivity, security, data storage, system integration, device hardware, and application development
· In-depth analysis of how the IoT ecosystem will change and disrupt 17 different industries
*The Internet of Things: Examining How the IoT Will Affect The World* is how you get the full story on the Internet of Things.
To get your copy of this invaluable guide to the IoT universe, choose one of these options:
1. Purchase an ALL-ACCESS Membership that entitles you to immediate access to not only this report, but also dozens of other research reports, subscriptions to all 5 of the BI Intelligence daily newsletters, and much more. >> *START A MEMBERSHIP*
2. Purchase the report and download it immediately from our research store. >> *BUY THE REPORT*
The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the fast-moving world of the IoT.
Join the conversation about this story » Reported by Business Insider 15 hours ago.
From agriculture to defense, retail to healthcare, everything is going to be impacted by the growing ability of businesses, governments, and consumers to connect to and control their environments:
· “Smart mirrors” will allow consumers to try on clothes digitally, enhancing their shopping experience and reducing returns for the retailer
· Assembly line sensors will detect tiny drops in efficiency that indicate critical equipment is wearing out and schedule down-time maintenance in response
· Agricultural equipment guided by GPS and IoT technology will soon plant, fertilize and harvest vast croplands like a giant Roomba while the “driver” reads a magazine
· Active people will share lifestyle data from their fitness trackers in order to help their doctor make better health care decisions (and capture discounts on health insurance premiums)
No wonder the Internet of Things has been called “the next Industrial Revolution.” It’s so big that it could mean new revenue streams for your company and new opportunities for you. The only question is: Are you fully up to speed on the IoT?
After months of researching and reporting this exploding trend, John Greenough and Jonathan Camhi of Business Insider Intelligence have put together an essential briefing that explains the exciting present and the fascinating future of the Internet of Things. It covers how IoT is being implemented today, where the new sources of opportunity will be tomorrow and how 17 separate sectors of the economy will be transformed over the next 20 years, including:
· Agriculture
· Connected Home
· Defense
· Financial services
· Food services
· Healthcare
· Hospitality
· Infrastructure
· Insurance
· Logistics
· Manufacturing
· Oil, gas, and mining
· Retail
· Smart buildings
· Transportation
· Connected Car
· Utilities
If you work in any of these sectors, it's important for you to understand how the IoT will change your business and possibly even your career. And if you’re employed in any of the industries that will build out the IoT infrastructure—networking, semiconductors, telecommunications, data storage, cybersecurity—this report is a must-have.
Among the big picture insights you’ll get from *The Internet of Things: Examining How the IoT Will Affect The World*:
· IoT devices connected to the Internet will more than triple by 2020, from 10 billion to 34 billion. IoT devices will account for 24 billion, while traditional computing devices (e.g. smartphones, tablets, smartwatches, etc.) will comprise 10 billion.
· Nearly $6 trillion will be spent on IoT solutions over the next five years.
· Businesses will be the top adopter of IoT solutions because they will use IoT to 1) lower operating costs; 2) increase productivity; and 3) expand to new markets or develop new product offerings.
· Governments will be the second-largest adopters, while consumers will be the group least transformed by the IoT.
And when you dig deep into the report, you’ll get the whole story in a clear, no-nonsense presentation:
· The complex infrastructure of the Internet of Things distilled into a single ecosystem
· The most comprehensive breakdown of the benefits and drawbacks of mesh (e.g. ZigBee, Z- Wave, etc.), cellular (e.g. 3G/4G, Sigfox, etc.), and internet (e.g. Wi-Fi, Ethernet, etc.) networks
· The important role analytics systems, including edge analytics, cloud analytics, will play in making the most of IoT investments
· The sizable security challenges presented by the IoT and how they can be overcome
· The four powerful forces driving IoT innovation, plus the four difficult market barriers to IoT adoption
· Complete analysis of the likely future investment in the critical IoT infrastructure: connectivity, security, data storage, system integration, device hardware, and application development
· In-depth analysis of how the IoT ecosystem will change and disrupt 17 different industries
*The Internet of Things: Examining How the IoT Will Affect The World* is how you get the full story on the Internet of Things.
To get your copy of this invaluable guide to the IoT universe, choose one of these options:
1. Purchase an ALL-ACCESS Membership that entitles you to immediate access to not only this report, but also dozens of other research reports, subscriptions to all 5 of the BI Intelligence daily newsletters, and much more. >> *START A MEMBERSHIP*
2. Purchase the report and download it immediately from our research store. >> *BUY THE REPORT*
The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the fast-moving world of the IoT.
Join the conversation about this story » Reported by Business Insider 15 hours ago.
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IRS Report Reveals How Obamacare "Spread [$11 Billion] Of Wealth Around"
![IRS Report Reveals How Obamacare Spread [$11 Billion] Of Wealth Around](http://cdn.newsserve.net/i/20160929/1895-IRS-Report-Reveals-How-Obamacare-Spread-11.jpg)
If folks don't like their healthcare then they can give us all their money so we can give it to other folks.New IRS disclosures from the 2014 tax year reveal the specifics of how the so-called "Affordable Care Act" helped to facilitate Obama's desire to, as he famously told "Joe the Plumber", "spread the wealth around." To be precise, *in 2014, Obamacare spread $11.2BN of wealth around*, in the form of healthcare premium tax credits, with nearly *80% going to taxpayers reporting less that $35,000 of adjusted gross income*. Moreover, the average tax filer received $3,600 of healthcare premium support with those in the lowest tax bracket receiving over $5,500 per person.
Equally disturbing is the fact that 8.1mm tax filers, those who elected to forgo health insurance, were *hit with $1.7BN in Obamacare penalties...call it the "young and healthy tax"*. Ironically, *40% of the penalties fell upon people making less than $35,000 per year*...the very same people that Obama apparently intended to "help".
Here's how the subsidies and penalties broke down by tax bracket (the original IRS table can be found here):
Of course, the real tragedy of Obamacare is that even if those 8.1mm young and healthy people wanted to buy health insurance, *many of them have now likely been priced out of the market as premiums have soared and coverage "options" have vanished as insurers have pulled out of exchanges all over the country* (something we discussed at length in a post entitled "Obamacare On "Verge Of Collapse" As Premiums Set To Soar Again In 2017"). In essence, while the bill has seemingly "helped" the 3.1mm people receiving subsidies in the chart above it has *trapped the 8.1mm young and health people with a permanent tax increase as they are now even less likely to buy health insurance after Obamacare has driven up the rates astronomically.*
But, of course, the Obamacare penalties will only get even worse from here. According to The Washington Free Beacon, in 2014, uninsured individuals were required to pay the greater of either a flat penalty of $95 for each uninsured adult or 1% of their household’s adjusted gross income. That said, the penalties are set to *increase in 2016 to the greater of a flat fee of $695 or 2.5% of AGI*. According to the *Congressional Budget Office, taxpayers are expected to pay penalties of $4BN in 2016 and $5BN annually from 2017 through 2024*.
Senator Tom Cotton (R-Arkansas), also pointed out the irony in the fact that Obamacare is now penalizing many taxpayers who can no longer afford healthcare simply because Obamacare itself has driven up premiums to such an extent they've been rendered completely unaffordable.
“It’s not surprising that the Obamacare mandate numbers are worse than the administration first claimed,” said Sen. Tom Cotton (R., Ark.). “*Obamacare penalizes taxpayers who can no longer afford insurance that Obamacare made unaffordable.*”
“As Obamacare continues to unravel, things will only get worse,” Cotton said. “*The legacy of Obamacare is skyrocketing premiums, unaffordable deductibles, the destruction of the individual insurance market, and tax penalties on Obamacare’s victims.*”
With that, we'll leave you with this blast from the past...
Reported by Zero Hedge 13 hours ago.
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Robert Weaver Featured in Indian Country Today Media Network Article
The Indian Country Today Media Network article recounts Weaver's steadfast commitment to helping Native Americans acquire high-quality, comprehensive healthcare at a reasonable cost.
Quapaw, Oklahoma (PRWEB) September 29, 2016
Robert Weaver was featured in the Indian Country Today Media Network article "Quapaw Entrepreneur and Visionary Transformed Tribal Healthcare" by Kristi Eaton. The article recounts Weaver's steadfast commitment to helping Native Americans acquire high-quality, comprehensive healthcare at a reasonable cost. A member of the Quapaw Tribe of Oklahoma, Weaver has made it his personal mission to protect his tribe, and others in Indian Country, from those looking to cash in on a lack of knowledge regarding healthcare benefits.
“In 2006, even though it doesn’t seem that long ago, there were still a lot of insurance companies — in my opinion — that were very much taking advantage of tribes and their enterprises,” says Weaver in the article.
Several years ago, the Quapaw Tribe was in the process of opening the Downstream Casino and needed a healthcare plan for their employees. Overwhelmed by the varied options presented, they asked Weaver for assistance. This event provided an impetus for the new direction of his life's work. Weaver helped review the bids for the Quapaw Tribe. Unsatisfied with what he saw, he opted to write a bid of his own. Using his expertise, Weaver acted as a liaison between the Quapaw Tribe and numerous health insurance companies and was able to negotiate and win greater benefits at a lesser price.
One of Weaver's favorite publications is a free resource offered providing informational videos for less economically developed Indian tribes and nations. These videos can be found on the Robert Weaver Quapaw Tribe Facebook page or via the YouTube Native Health and Insurance Channel. If your organization needs assistance with any of the issues referenced, Weaver can be reached directly at 417-483-4700.
Indian Country Today Media Network, showcases talented Native writers, reporters and artists throughout the world. Designed as a national platform for Native voices and issues, the Indian Country Today website serves as a destination for the vast and growing number of people interested in Native news, culture, ideals and businesses. Each day the Indian Country Today Media Network team brings essential news and information from Indian country, entertains with new voices and cultural highlights and gives life to the most vibrant voices in the national community. For more information, visit indiancountrytodaymedianetwork.com.
Since 2007, Robert Weaver has been the owner and founder of RWI Benefits, LLC. The firm specializes in all lines of insurance to include employee benefits, property and casualty, worker’s compensation and all other forms of insurance management consulting. The RWI Benefits home office is located in Quapaw, Oklahoma, on Tribal trust land. Additional offices are located in Joplin, Missouri, and Chickasha, Oklahoma. Weaver owns NativeCare Health, LLC, a third-party benefit administration company, as well as, MedCase, LLC, a utilization review firm. Weaver is also the consultative representative for government-to-government relations of the Quapaw Tribe, a group working in Washington, D.C., to improve healthcare access for Indian Country as a whole. Learn more at chooserobertweaver.com or rwibenefits.com.
Learn more about Weaver and his steadfast commitment to Native Americans in Eaton’s article “Quapaw Entrepreneur and Visionary Transformed Tribal Healthcare.” Reported by PRWeb 13 hours ago.
Quapaw, Oklahoma (PRWEB) September 29, 2016
Robert Weaver was featured in the Indian Country Today Media Network article "Quapaw Entrepreneur and Visionary Transformed Tribal Healthcare" by Kristi Eaton. The article recounts Weaver's steadfast commitment to helping Native Americans acquire high-quality, comprehensive healthcare at a reasonable cost. A member of the Quapaw Tribe of Oklahoma, Weaver has made it his personal mission to protect his tribe, and others in Indian Country, from those looking to cash in on a lack of knowledge regarding healthcare benefits.
“In 2006, even though it doesn’t seem that long ago, there were still a lot of insurance companies — in my opinion — that were very much taking advantage of tribes and their enterprises,” says Weaver in the article.
Several years ago, the Quapaw Tribe was in the process of opening the Downstream Casino and needed a healthcare plan for their employees. Overwhelmed by the varied options presented, they asked Weaver for assistance. This event provided an impetus for the new direction of his life's work. Weaver helped review the bids for the Quapaw Tribe. Unsatisfied with what he saw, he opted to write a bid of his own. Using his expertise, Weaver acted as a liaison between the Quapaw Tribe and numerous health insurance companies and was able to negotiate and win greater benefits at a lesser price.
One of Weaver's favorite publications is a free resource offered providing informational videos for less economically developed Indian tribes and nations. These videos can be found on the Robert Weaver Quapaw Tribe Facebook page or via the YouTube Native Health and Insurance Channel. If your organization needs assistance with any of the issues referenced, Weaver can be reached directly at 417-483-4700.
Indian Country Today Media Network, showcases talented Native writers, reporters and artists throughout the world. Designed as a national platform for Native voices and issues, the Indian Country Today website serves as a destination for the vast and growing number of people interested in Native news, culture, ideals and businesses. Each day the Indian Country Today Media Network team brings essential news and information from Indian country, entertains with new voices and cultural highlights and gives life to the most vibrant voices in the national community. For more information, visit indiancountrytodaymedianetwork.com.
Since 2007, Robert Weaver has been the owner and founder of RWI Benefits, LLC. The firm specializes in all lines of insurance to include employee benefits, property and casualty, worker’s compensation and all other forms of insurance management consulting. The RWI Benefits home office is located in Quapaw, Oklahoma, on Tribal trust land. Additional offices are located in Joplin, Missouri, and Chickasha, Oklahoma. Weaver owns NativeCare Health, LLC, a third-party benefit administration company, as well as, MedCase, LLC, a utilization review firm. Weaver is also the consultative representative for government-to-government relations of the Quapaw Tribe, a group working in Washington, D.C., to improve healthcare access for Indian Country as a whole. Learn more at chooserobertweaver.com or rwibenefits.com.
Learn more about Weaver and his steadfast commitment to Native Americans in Eaton’s article “Quapaw Entrepreneur and Visionary Transformed Tribal Healthcare.” Reported by PRWeb 13 hours ago.
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Chubb Makes New Appointments in its Property & Casualty Business
SINGAPORE, Sept. 29, 2016 /PRNewswire/ -- Chubb announced today new appointments within its Property & Casualty business for Asia Pacific:
*Michael Frazer*: Currently, Head of Energy & Technical Lines, Asia Pacific has been appointed as the new Head of Property, Asia Pacific. He replaces Jason Keen who was recently promoted to the role of Regional Head of Property & Casualty for Asia Pacific. In his new role, Mr. Frazer will continue to be based in Singapore and will report to Mr. Keen.
Mr. Frazer has more than 15 years of Property, Energy and Engineering Underwriting experience. Since joining legacy ACE in 1999, he has been promoted to roles of increasing responsibility. He assumed the position as Head of Energy & Technical Lines, Asia Pacific in 2012.
*Michael (Mick) Peacock*: Presently, Energy & Technical Lines Manager for Australia & New Zealand, has been appointed as Head of Energy & Power, Asia Pacific. In his new capacity, which will include oversight for the Inland Transit portfolio, Mr. Peacock will report to Mr. Frazer and will relocate from Sydney to Singapore.
Mr. Peacock was appointed to his current role in legacy ACE in 2012. He is a seasoned underwriter having held diverse underwriting and leadership roles in the government as well as local and multinational insurers.
*Stephen (Steve) Hanna*: Replaces Mr. Peacock as the new Energy & Technical Lines Manager for Australia & New Zealand. Mr. Hanna is currently Product Head -- Power for Australia & New Zealand. In his new role, he will report to Mr. Peter Kelaher, Head of Property & Casualty, Australia & New Zealand and also to Mr. Peacock.
An engineer by training, Mr. Hanna first joined legacy ACE in 2005 as a Senior Regional Engineer, Energy & Utilities and became Product Head -- Power in 2011.
On the new appointments, Mr. Keen said, "This succession plan shows the depth of talent we have at Chubb as we develop our people to meet the evolving business needs across our network. Michael, Mick and Steve have proven leadership, professionalism and demonstrated success which will serve us well as we continue to seize the many growth opportunities the region offers."
*About Chubb*
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: new.chubb.com.
Logo - http://photos.prnewswire.com/prnh/20160124/325256LOGO Reported by PR Newswire Asia 13 hours ago.
*Michael Frazer*: Currently, Head of Energy & Technical Lines, Asia Pacific has been appointed as the new Head of Property, Asia Pacific. He replaces Jason Keen who was recently promoted to the role of Regional Head of Property & Casualty for Asia Pacific. In his new role, Mr. Frazer will continue to be based in Singapore and will report to Mr. Keen.
Mr. Frazer has more than 15 years of Property, Energy and Engineering Underwriting experience. Since joining legacy ACE in 1999, he has been promoted to roles of increasing responsibility. He assumed the position as Head of Energy & Technical Lines, Asia Pacific in 2012.
*Michael (Mick) Peacock*: Presently, Energy & Technical Lines Manager for Australia & New Zealand, has been appointed as Head of Energy & Power, Asia Pacific. In his new capacity, which will include oversight for the Inland Transit portfolio, Mr. Peacock will report to Mr. Frazer and will relocate from Sydney to Singapore.
Mr. Peacock was appointed to his current role in legacy ACE in 2012. He is a seasoned underwriter having held diverse underwriting and leadership roles in the government as well as local and multinational insurers.
*Stephen (Steve) Hanna*: Replaces Mr. Peacock as the new Energy & Technical Lines Manager for Australia & New Zealand. Mr. Hanna is currently Product Head -- Power for Australia & New Zealand. In his new role, he will report to Mr. Peter Kelaher, Head of Property & Casualty, Australia & New Zealand and also to Mr. Peacock.
An engineer by training, Mr. Hanna first joined legacy ACE in 2005 as a Senior Regional Engineer, Energy & Utilities and became Product Head -- Power in 2011.
On the new appointments, Mr. Keen said, "This succession plan shows the depth of talent we have at Chubb as we develop our people to meet the evolving business needs across our network. Michael, Mick and Steve have proven leadership, professionalism and demonstrated success which will serve us well as we continue to seize the many growth opportunities the region offers."
*About Chubb*
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: new.chubb.com.
Logo - http://photos.prnewswire.com/prnh/20160124/325256LOGO Reported by PR Newswire Asia 13 hours ago.
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Upbeat Outlook for the Moroccan Insurance Industry: Ken Research
*Key Topics Covered in the Report*· Category wise detailed analysis of the Moroccan Insurance Industry
· Comprehensive overview of the Moroccan economy and demographics
· Historical values for the key performance indicators for the review period (2010-2014), and projected figures for the forecast period (2014-2019)
· Current trends, Drivers & Challenges in the Moroccan insurance industry
· Analysis of distribution channels operating in the Moroccan Insurance Industry
· Competitive landscape in the Moroccan Insurance Industry
· Regulatory framework applicable to the Moroccan Insurance Industry
*Ken Research *announced its latest publication on, “*The Insurance Industry in Morocco, Key Trends and Opportunities to 2019*”*, *offer insights on the changing trends and potential opportunities within the Moroccan Insurance Industry. The publication includes an insightful analysis of product categories, Moroccan economy and demographics, distribution channels, natural hazards and their impact on the Moroccan insurance industry, competitive landscape and regulatory and governance policy. The analysis of the aforementioned trends has been done on the basis of key categories within the industry: Life Insurance; Non-life insurance including motor insurance, property insurance, liability insurance, marine, aviation and transit insurance; and Personal accident and Health insurance.
*Moroccan Insurance Industry*
*Economic Environment of Morocco*
The economy of Morocco is one of a fairly stable and liberal economy. The country has continued to make spectacular progress in integrating its economy into the global picture.Morocco has capitalized on its proximity to Europe and developed a market-oriented economy supported by low labor costs, industry development strategies and free-trade agreements (FTA) with the Eurozone, the US, and neighboring African countries.Though these efforts led to strong economic growth in 2014-15, 4.4% growth in GDP, along with decrease in poverty, unemployment and inflation, Morocco’s economic activity decelerated sharply in 2016.
Looking at key economic snapshot of Morocco, in 2016, Morocco is home to 33.2 million people. The economy is growing at a rate of 2.9%. With GDP (PPP) 252.4 billion USD, it global ranking is 85^th and regional ranking is 9^th in the Middle East or North African Region. The service sector accounts for one-fourth of the GDP, while industry, including construction, mining and manufacturing activities, contributes an additional quarter. The most dynamic and fastest growing industry is tourism industry. Still, Morocco depends excessively on agriculture which contributes 14% of GDP and employs 40-45% of Moroccan Population. Consumption and investment has expanded although with a declining rate, with inflation falling for the last two years. After opening the doors to foreign market, there has been a surge in foreign investments, amounting to 3.6 billion USD. However, there are challenges confronting the Moroccan economy such as lack of transparency, corruption, Labour freedom etc.
*Brief Overview of Moroccan Insurance Industry*
Moroccan insurance industry is one of the largest in the Arab region, after Saudi Arabia and UAE, and second-largest in Africa. Globally it ranks 53^rd by total premiums. In Recent years, the insurance market in Morocco has witnessed growth rates ahead of the growth rate of local economy. Growth in Moroccan insurance market is mainly driven by the non-life and life insurance segment, with non-life insurance (mainly auto insurance) accounting for almost two-third share of the market and the balance being accounted by mostly life- insurance and reinsurance segments.
The performance of the Moroccan Insurance industry has been miraculous in the last few years. Despite low income levels and unfavourable demographic conditions, it has achieved region’s highest insurance penetration level which is around 3% of the GDP. The dynamic automotive market along with the compulsory third-party liability insurance has led to motor insurance capturing around one-third of the insurance market share by total premiums.
Looking at the current landscape, the Moroccan insurance market is mostly consolidated with few major players dominating most of the business operations.The market was opened to foreign investors in 2010, increasing competition in the market and hence led to further consolidation to compete with foreign insurers. The biggest driver of Moroccan insurance market has been the favourable government regulations including insurance reforms, aimed expanding the insurance market such as introduction of Sharia-compliant insurance, extending health insurance to university students, establishment of natural catastrophe insurance scheme etc. Other key drivers of the market include: economic development, expanding mortgage market, bancassurance, young population, urbanisation, and growth opportunities in Africa and Middle-east.
*Major Players in Moroccan Insurance Industry*
Moroccan insurance market share is concentrated in the hands of a few mostly local insurance companies, although foreign insurers are also on the go after the doors were opened to them in 2010 by the Moroccan government. Especially, the French insurance companies have captured significant market share.
There are around seventeen insurance companies and one reinsurance company provided with licence to operate in Morocco. Among them, around five to six companies capture most of the market share: *Wafa Assurance, RMA Watanya, MCMA, Marocaine Vie, Axa Assurance Maroc, Saham Insurance, Sanad Assurance, Atlanta Assurance, Zurich Assurance *and* Mamda Assurance*. The prominent expansion strategies adopted by Moroccan insurers are extending their operations to other less penetrated African countries such as Cameroon, Western Sahara and Algeria, among others, by either acquiring local businesses or setting up own branches and distribution channels.
*Moroccan Insurance Industry Prospects*
Over the next five years, the insurance industry in Morocco presents a promising growth picture. The non-life and life insurance segment is expected to show recovery on account of simple and trouble-free liquidity conditions. However, the annual growth rate of non-life segment is expected to slowdown in coming years. Theconstruction and infrastructure projects in the country and the economic development in Europeare expected to set potential recovery in the Moroccan insurance industry. As a result of growth of the market, penetration level is expected to increase.
Looking at the insurers’ front, current low penetration of the insurance market is expected to keep attracting insurers who are targeting to expand their market either through mergers & acquisitions or joint ventures. Apart from potential opportunities and driving market factors, the industry faces challenges such as high unemployment and adoption of more developed solvency given the heavy exposure of local insurers to financial markets. These may limit the growth of the Moroccan insurance industry in coming years.
*To know more on coverage, click on the link below:*
https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/insurance-industry-morocco/34712-93.html
*Related Reports:*
https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/bahrain-insurance-market-research-report/425-93.html
https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/global-insurance/28002-93.html Reported by NewsVoir 11 hours ago.
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EVRYTHNG Opens up the Smart Home for the Property Insurance Sector
Launches new IoT Insurance solution built on curated connected device ecosystem
(PRWEB) September 29, 2016
EVRYTHNG, the IoT Smart Products Platform, announced today the availability of its IoT Insurance solution to enable insurers to design and deploy new smart home insurance propositions. Built upon an ecosystem of pre-integrated devices, including high-profile partners such as Jasco, iHome and First Alert, it enables insurers to bypass the complexity associated with multi-vendor smart home environments.
With the solution, insurance companies can offer services under their own brand and use any combination of manufacturer-branded or white-labeled devices. And, unlike most ‘affinity’ or co-marketing programs, insurance companies have complete access to all real-time data, control over the device ecosystem, and a customer-facing, branded mobile app.
Available now, it comes with a structured Pilot Kit program including full customization services and ongoing operational support to help Insurers get to market and validate new value propositions quickly.
Niall Murphy, CEO and Co-Founder at EVRYTHNG, said: “The disruptive potential of the Internet of Things is already transforming the automotive and health insurance sectors. Now, home and property insurance is benefiting from the same opportunities with data from smart devices. Insurers can help consumers access the benefits of smart home safety and security, apply sensory data to offer proactive, personalized services and response, manage risk more effectively, and ease administration. EVRYTHNG gives insurance service providers an easy way to access a rich ecosystem of devices in the home to both create attractive value propositions for their customers and work at scale with data from these devices and their own systems with security and analytical intelligence.”
Curt Schacker, EVP for Connected Products at EVRYTHNG, added: “This is about providing insurance companies all the components they need to bring their own brand-led value proposition to market, including a scalable cloud platform, a curated ecosystem of interoperable devices, mobile app, analytics dashboards, and system interconnections. Insurers can now get going quickly and easily with a staged program to pilot value propositions with customers with a specific set of devices, service, and experience, and then move to scale over time.”
Ecosystem Partners
Ecosystem connectivity is at the core of the EVRYTHNG Platform-as-a-Service. It has pre-built connectors for home automation platforms such as SmartThings and Wink, and a Works with Nest-certified SDK for the Nest Cam Indoor and Nest Cam Outdoor security cameras, a global-first unveiled at Google I/O 2016. Additional platform and device partnerships will follow over the coming months to extend the ecosystem for insurers even further.
Gary Schultz, Business & Product Development Director at iHome, said: “With the broad iHome Control smart home product range available within the EVRYTHNG ecosystem, Insurers can bundle iHome’s award winning Smart Monitor, Smart Plugs and Sensors into their services and access critical real-time data with features such as motion, temperature, energy consumption, humidity and appliance and lighting controls anywhere in or around the subscriber’s home.”
Keith Lashley, VP of Products at Jasco added: “Through our participation in the EVRYTHNG ecosystem, the broad range of sensing and control devices we produce under the GE brand are now available to insurers to monitor and respond to virtually any threat or event which can impact a home.”
Mark Devine, Senior Vice President of Marketing for First Alert stated: “First Alert, the most trusted name in home safety, is synonymous with residential fire protection, so it’s natural to integrate our Onelink by First Alert Smoke + Carbon Monoxide alarms into the EVRYTHNG platform.”
“What’s most impressive about EVRYTHNG’s new approach,” said Lee Gruenfeld, Vice President of Strategic Initiatives at Support.com, “is that they’ve thought beyond just the devices and infrastructure, all the way to the full customer experience. Including Support.com’s advanced customer support software and services as a strategic part of this rich ecosystem allows EVRYTHNG to give insurers a crucial advantage in delivering customer satisfaction through better support and reduced customer effort.”
Availability
The IoT Insurance solution and Pilot Kit are available to order today. To find out more, go to https://evrythng.com/industries/insurance/
-ENDS-
About EVRYTHNG
EVRYTHNG is the Internet of Things Smart Products Platform connecting consumer products to the Web, and managing real-time data to drive applications. The world’s leading consumer product manufacturers work with EVRYTHNG to manage billions of intelligent online identities in the cloud for their products, deliver real-time interactive experiences and support services to consumers, and connect with the ecosystem of other applications and products in their digital lives. To find out more about how EVRYTHNG’s award-winning IoT cloud platform delivers better consumer-product experiences and smarter product operations, please visit evrythng.com and follow @EVRYTHNG.
For further information please contact:
Neil Robertson
FieldHouse Associates
neil(at)fieldhouseassociates(dot)com
+1 646 233 1150
@neil_robertson
Iain Alexander
FieldHouse Associates
Iain(at)fieldhouseassociates(dot)com
@iaingalexander Reported by PRWeb 8 hours ago.
(PRWEB) September 29, 2016
EVRYTHNG, the IoT Smart Products Platform, announced today the availability of its IoT Insurance solution to enable insurers to design and deploy new smart home insurance propositions. Built upon an ecosystem of pre-integrated devices, including high-profile partners such as Jasco, iHome and First Alert, it enables insurers to bypass the complexity associated with multi-vendor smart home environments.
With the solution, insurance companies can offer services under their own brand and use any combination of manufacturer-branded or white-labeled devices. And, unlike most ‘affinity’ or co-marketing programs, insurance companies have complete access to all real-time data, control over the device ecosystem, and a customer-facing, branded mobile app.
Available now, it comes with a structured Pilot Kit program including full customization services and ongoing operational support to help Insurers get to market and validate new value propositions quickly.
Niall Murphy, CEO and Co-Founder at EVRYTHNG, said: “The disruptive potential of the Internet of Things is already transforming the automotive and health insurance sectors. Now, home and property insurance is benefiting from the same opportunities with data from smart devices. Insurers can help consumers access the benefits of smart home safety and security, apply sensory data to offer proactive, personalized services and response, manage risk more effectively, and ease administration. EVRYTHNG gives insurance service providers an easy way to access a rich ecosystem of devices in the home to both create attractive value propositions for their customers and work at scale with data from these devices and their own systems with security and analytical intelligence.”
Curt Schacker, EVP for Connected Products at EVRYTHNG, added: “This is about providing insurance companies all the components they need to bring their own brand-led value proposition to market, including a scalable cloud platform, a curated ecosystem of interoperable devices, mobile app, analytics dashboards, and system interconnections. Insurers can now get going quickly and easily with a staged program to pilot value propositions with customers with a specific set of devices, service, and experience, and then move to scale over time.”
Ecosystem Partners
Ecosystem connectivity is at the core of the EVRYTHNG Platform-as-a-Service. It has pre-built connectors for home automation platforms such as SmartThings and Wink, and a Works with Nest-certified SDK for the Nest Cam Indoor and Nest Cam Outdoor security cameras, a global-first unveiled at Google I/O 2016. Additional platform and device partnerships will follow over the coming months to extend the ecosystem for insurers even further.
Gary Schultz, Business & Product Development Director at iHome, said: “With the broad iHome Control smart home product range available within the EVRYTHNG ecosystem, Insurers can bundle iHome’s award winning Smart Monitor, Smart Plugs and Sensors into their services and access critical real-time data with features such as motion, temperature, energy consumption, humidity and appliance and lighting controls anywhere in or around the subscriber’s home.”
Keith Lashley, VP of Products at Jasco added: “Through our participation in the EVRYTHNG ecosystem, the broad range of sensing and control devices we produce under the GE brand are now available to insurers to monitor and respond to virtually any threat or event which can impact a home.”
Mark Devine, Senior Vice President of Marketing for First Alert stated: “First Alert, the most trusted name in home safety, is synonymous with residential fire protection, so it’s natural to integrate our Onelink by First Alert Smoke + Carbon Monoxide alarms into the EVRYTHNG platform.”
“What’s most impressive about EVRYTHNG’s new approach,” said Lee Gruenfeld, Vice President of Strategic Initiatives at Support.com, “is that they’ve thought beyond just the devices and infrastructure, all the way to the full customer experience. Including Support.com’s advanced customer support software and services as a strategic part of this rich ecosystem allows EVRYTHNG to give insurers a crucial advantage in delivering customer satisfaction through better support and reduced customer effort.”
Availability
The IoT Insurance solution and Pilot Kit are available to order today. To find out more, go to https://evrythng.com/industries/insurance/
-ENDS-
About EVRYTHNG
EVRYTHNG is the Internet of Things Smart Products Platform connecting consumer products to the Web, and managing real-time data to drive applications. The world’s leading consumer product manufacturers work with EVRYTHNG to manage billions of intelligent online identities in the cloud for their products, deliver real-time interactive experiences and support services to consumers, and connect with the ecosystem of other applications and products in their digital lives. To find out more about how EVRYTHNG’s award-winning IoT cloud platform delivers better consumer-product experiences and smarter product operations, please visit evrythng.com and follow @EVRYTHNG.
For further information please contact:
Neil Robertson
FieldHouse Associates
neil(at)fieldhouseassociates(dot)com
+1 646 233 1150
@neil_robertson
Iain Alexander
FieldHouse Associates
Iain(at)fieldhouseassociates(dot)com
@iaingalexander Reported by PRWeb 8 hours ago.
↧
This startup says it can save you thousands in medical bills
A new startup says it could save you thousands of dollars on your medical bills — and only for a 20 percent fee.
Remedy, a startup launching around the country on Thursday, is trying to transform medical billing. In part because of the complex U.S. healthcare system, Americans pay $120 billion a year in medical billing errors and overcharges, Remedy says. The company wants to combine technology with medical billing experts to save consumers those billions of dollars.
SEE ALSO: Do you really need expensive health insurance?
Customers can elect to connect their insurance to Remedy's service. After customers sign a HIPAA (Health Insurance Portability and Accountability Act) release form, Remedy will be authorized to comb through medical bills from the past year and all future bills to see where consumers are being overcharged. Read more...
More about Bills, Healthcare, Remedy, and Business Reported by Mashable 8 hours ago.
Remedy, a startup launching around the country on Thursday, is trying to transform medical billing. In part because of the complex U.S. healthcare system, Americans pay $120 billion a year in medical billing errors and overcharges, Remedy says. The company wants to combine technology with medical billing experts to save consumers those billions of dollars.
SEE ALSO: Do you really need expensive health insurance?
Customers can elect to connect their insurance to Remedy's service. After customers sign a HIPAA (Health Insurance Portability and Accountability Act) release form, Remedy will be authorized to comb through medical bills from the past year and all future bills to see where consumers are being overcharged. Read more...
More about Bills, Healthcare, Remedy, and Business Reported by Mashable 8 hours ago.
↧
↧
HFCIC Prepares to Promote Oscar Healthcare During Open Enrollment
Top Insurance Agency Enhances Website to Introduce the Public to Oscar Health
Santa Rosa, CA (PRWEB) September 29, 2016
This month, Health For California Insurance Center (HFCIC) built out website content to promote the Oscar Insurance Company. Oscar is gaining brand awareness in California, and HFCIC thinks that this new carrier will gain considerable market share in the 2017 Open Enrollment Period.
HFCIC is one of Covered California’s top producers. The agency had the highest number of individual and family enrollments during the 2016 Open Enrollment Period. “We think many consumers are going to switch over to Oscar in 2017, and we want to be ready,” says HFCIC CEO, John Hansen.
Why HFCIC is Partnering with Oscar
Recently, Covered CA announced that in 2017, health plans will cost an average of 13.2% more. So, HFCIC agents anticipate this will send many of California’s insured out shopping to find a better deal. And, some of them will end up switching to Oscar.
“We’re going to sell a lot of Oscar insurance during Open Enrollment,” said insurance agent, Holly Davies. “Oscar provides an affordable option for consumers who are buckling under the weight of the high PPO premiums of some carriers. Many consumers will be able to keep their doctor and save money by switching to Oscar.”
“Currently, Oscar Healthcare is only in a few counties,” said HFCIC CEO, John Hansen. “But if they keep playing their cards right, we expect this carrier to expand into more and more of the highly populated areas in the state. We like their networks and their customer service. Also, their website and mobile app are extremely user-friendly.”
“Some of the big name carriers will be implementing huge rate increases in 2017,” added Ms. Davies. “Oscar’s EPO rates will be highly competitive and their plans allow members to choose their doctor without a referral. There’s no out-of-network coverage, but if that doesn’t matter to you, you can get great PPO-like coverage at more affordable rates by going with Oscar.”
About Health for California Insurance Center
Since 2004, Health for California Insurance Center has ranked as one of the top online individual and family health insurance agencies. The company consists of certified Covered California insurance agents who provide personalized insurance services. They assist individuals and business groups needing quotes and enrollment through the Health Insurance Marketplace. They also assist with off-exchange enrollment through top California carriers. Reported by PRWeb 7 hours ago.
Santa Rosa, CA (PRWEB) September 29, 2016
This month, Health For California Insurance Center (HFCIC) built out website content to promote the Oscar Insurance Company. Oscar is gaining brand awareness in California, and HFCIC thinks that this new carrier will gain considerable market share in the 2017 Open Enrollment Period.
HFCIC is one of Covered California’s top producers. The agency had the highest number of individual and family enrollments during the 2016 Open Enrollment Period. “We think many consumers are going to switch over to Oscar in 2017, and we want to be ready,” says HFCIC CEO, John Hansen.
Why HFCIC is Partnering with Oscar
Recently, Covered CA announced that in 2017, health plans will cost an average of 13.2% more. So, HFCIC agents anticipate this will send many of California’s insured out shopping to find a better deal. And, some of them will end up switching to Oscar.
“We’re going to sell a lot of Oscar insurance during Open Enrollment,” said insurance agent, Holly Davies. “Oscar provides an affordable option for consumers who are buckling under the weight of the high PPO premiums of some carriers. Many consumers will be able to keep their doctor and save money by switching to Oscar.”
“Currently, Oscar Healthcare is only in a few counties,” said HFCIC CEO, John Hansen. “But if they keep playing their cards right, we expect this carrier to expand into more and more of the highly populated areas in the state. We like their networks and their customer service. Also, their website and mobile app are extremely user-friendly.”
“Some of the big name carriers will be implementing huge rate increases in 2017,” added Ms. Davies. “Oscar’s EPO rates will be highly competitive and their plans allow members to choose their doctor without a referral. There’s no out-of-network coverage, but if that doesn’t matter to you, you can get great PPO-like coverage at more affordable rates by going with Oscar.”
About Health for California Insurance Center
Since 2004, Health for California Insurance Center has ranked as one of the top online individual and family health insurance agencies. The company consists of certified Covered California insurance agents who provide personalized insurance services. They assist individuals and business groups needing quotes and enrollment through the Health Insurance Marketplace. They also assist with off-exchange enrollment through top California carriers. Reported by PRWeb 7 hours ago.
↧
Thomas Spray-Fry Named to the 2016 Financial Times 401 Top Financial Advisers
Baltimore-area financial adviser recognized nationally for work with defined contribution retirement plans
Hunt Valley, MD (PRWEB) September 29, 2016
Heritage Financial Consultants, a preeminent Mid-Atlantic wealth management firm providing comprehensive financial services, today announced that Thomas Spray-Fry, CFP®, ChFC®, CLU®, CRPC® has been named to Financial Times’ list of Top 401 Financial Advisers.
Spray-Fry, a Financial Planner at Heritage Financial Consultants, specializes in comprehensive financial, retirement and estate planning for individuals and business owners. He is also a licensed life and health insurance agent.
The Financial Times 401 Top Advisers ranks financial advisers at national, independent, and regional broker-dealers. These elite advisers on average manage $950 million in assets. Each adviser was selected based on their specialization in the defined contribution (DC) business, years of experience, participation rate, industry certification, compliance record, DC assets under management and growth in the DC plan business.
“It is an honor to be named to the Financial Times Top 401 Financial Advisers,” said Spray-Fry. “For Heritage Financial Consultants, this recognition further validates our continued commitment to provide excellent service and sound advice to our clients in order to help them achieve their unique financial goals.”
To learn more about Heritage Financial Consultants and its advisors, please visit http://heritageconsultants.com/about-us/.
About Heritage Financial Consultants
Heritage Financial Consultants is a full-service, independent financial planning and wealth management firm headquartered in Hunt Valley, Md. Heritage Financial Consultants provides peace of mind for individuals, families and businesses through comprehensive financial services including investment management, retirement and estate planning, business ownership and succession, insurance and risk management, and employee benefit services.
The Financial Times 401 Top Retirement Plan Advisors is an independent listing produced by the Financial Times (September 2016). The FT 401 is based on data gathered from financial advisors, regulatory disclosures, and the FT’s research. The listing reflects each advisor’s status in seven primary areas, including DC plan assets under management, growth in DC plan business, specialization in DC plan business, and other factors. This award does not evaluate the quality of services provided to clients and is not indicative of this advisor’s future performance. Neither the advisors nor their parent firms pay a fee to Financial Times in exchange for inclusion in the FT 401. For more information please visit: https://www.ft.com/content/e3e25424-5b0a-11e6-9f70-badea1b336d4.
Registered associates of Heritage Financial Consultants LLC are registered representatives of Lincoln Financial Advisors. Securities and advisory services offered through Lincoln Financial Advisors Corp., a broker/dealer (Member SIPC) and registered investment advisor. Insurance offered through Lincoln affiliates and other fine companies. Heritage Financial Consultants is not an affiliate of Lincoln Financial Advisors. CRN-1598375-092016 Reported by PRWeb 6 hours ago.
Hunt Valley, MD (PRWEB) September 29, 2016
Heritage Financial Consultants, a preeminent Mid-Atlantic wealth management firm providing comprehensive financial services, today announced that Thomas Spray-Fry, CFP®, ChFC®, CLU®, CRPC® has been named to Financial Times’ list of Top 401 Financial Advisers.
Spray-Fry, a Financial Planner at Heritage Financial Consultants, specializes in comprehensive financial, retirement and estate planning for individuals and business owners. He is also a licensed life and health insurance agent.
The Financial Times 401 Top Advisers ranks financial advisers at national, independent, and regional broker-dealers. These elite advisers on average manage $950 million in assets. Each adviser was selected based on their specialization in the defined contribution (DC) business, years of experience, participation rate, industry certification, compliance record, DC assets under management and growth in the DC plan business.
“It is an honor to be named to the Financial Times Top 401 Financial Advisers,” said Spray-Fry. “For Heritage Financial Consultants, this recognition further validates our continued commitment to provide excellent service and sound advice to our clients in order to help them achieve their unique financial goals.”
To learn more about Heritage Financial Consultants and its advisors, please visit http://heritageconsultants.com/about-us/.
About Heritage Financial Consultants
Heritage Financial Consultants is a full-service, independent financial planning and wealth management firm headquartered in Hunt Valley, Md. Heritage Financial Consultants provides peace of mind for individuals, families and businesses through comprehensive financial services including investment management, retirement and estate planning, business ownership and succession, insurance and risk management, and employee benefit services.
The Financial Times 401 Top Retirement Plan Advisors is an independent listing produced by the Financial Times (September 2016). The FT 401 is based on data gathered from financial advisors, regulatory disclosures, and the FT’s research. The listing reflects each advisor’s status in seven primary areas, including DC plan assets under management, growth in DC plan business, specialization in DC plan business, and other factors. This award does not evaluate the quality of services provided to clients and is not indicative of this advisor’s future performance. Neither the advisors nor their parent firms pay a fee to Financial Times in exchange for inclusion in the FT 401. For more information please visit: https://www.ft.com/content/e3e25424-5b0a-11e6-9f70-badea1b336d4.
Registered associates of Heritage Financial Consultants LLC are registered representatives of Lincoln Financial Advisors. Securities and advisory services offered through Lincoln Financial Advisors Corp., a broker/dealer (Member SIPC) and registered investment advisor. Insurance offered through Lincoln affiliates and other fine companies. Heritage Financial Consultants is not an affiliate of Lincoln Financial Advisors. CRN-1598375-092016 Reported by PRWeb 6 hours ago.
↧
Corporate Campaign War Chests Average 10-to-1 Advantage in State Ballot Races
Big Business is poised to crush its opposition at the ballot box this November.
I'm not referring to the presidential race or congressional contests. I'm referring to state ballot initiatives and referenda - the democratic institutions by which citizens in many states have a direct vote state law.
In a new Public Citizen report, "Big Business Ballot Bullies," we examined eight 2016 races where corporations have already spent nearly $140 million. The war chests of these corporate-backed campaigns have amassed an average 10-to-1 financial advantage over their mostly non-corporate opponents.
The report examines eight ballot initiative races in five states - California, Colorado, Florida, Oregon and South Dakota. All eight races generated considerable corporate spending - from $646,127 against a South Dakota initiative to limit interest rates for payday lenders to an eye-popping $86,602,172 against a California initiative to lower prescription drug prices.
On average, corporate-backed groups are out-fundraising their mostly non-corporate opposition by 10-to-1 in races examined in this study. (Not counting races where the non-corporate opposition raised $0).
What are these initiative and referenda races that Corporate America is so determined to influence?
In California, there's the Drug Price Relief Act (Proposition 1), which record-breaking corporate spending by Big Pharma is aimed toward defeating with its 9-to-1 fundraising advantage. The measure seeks to lower prescription drug prices in California by using the discounted price used by the U.S. Department of Veterans Affairs as the price ceiling for drugs. Pfizer and Johnson & Johnson alone each contributed more than $7 million to defeat the measure.
Also in California is the Referendum to Overturn Ban on Single-Use Plastic Bags (Proposition 67). Grocery stores and environmental groups have joined forces to preserve the plastic bag ban, but they have been outmatched by plastics industry-backed groups seeking to repeal the ban by more than 2-to-1.
In Colorado, the State Health Care System Initiative (Amendment 69) would put in place a universal, single-payer style health care system, "ColoradoCare," for citizens of Colorado. Health insurance companies, led by Ohio-based Anthem Inc., are the amendment's top opposition, which have a 6-to-1 advantage over the group supporting the amendment.
Also in Colorado, the petition-gathering effort for the Mandatory Setback from Oil and Gas Development Amendment (Amendment 78) was a target of an unprecedented "decline to sign" campaign, which was funded by the amendment's fossil fuel company-backed opposition. The amendment would require all oil and gas development in Colorado to occur at least 2,500 feet from any occupied structure. Opponents of the measure amassed a 24-to-1 financial advantage over the measure's proponents. Ultimately, proponents did not gather enough signatures to qualify for the ballot.
Now the oil and gas industry-backed group has turned its funds toward promoting the "Raise the Bar" initiative (Amendment 71), a direct attack on democracy that would make it more difficult for grassroots movements to qualify future initiatives for the ballot.
In Florida, petitioners supporting an initiative to expand access to rooftop solar found themselves competing with petitioners pushing a utility-backed decoy solar initiative that ultimately qualified for the ballot, derailing the original solar initiative in the process. The group supporting the utility-backed solar initiative (Amendment 1 on the ballot) that would make it easier for energy utilities to restrict and raise costs for rooftop solar, has a 10-to-1 financial advantage.
In Oregon, the Business Tax Increase (Measure 97), which would add a 2.5 percent tax on corporate sales in the state and raise an estimated $3 billion for education, health care and senior services, has drawn opposition from major corporations including Albertsons-Safeway, Comcast, Equilon Enterprises (Shell) and Costco. These corporate opponents hold a 3-to-1 fundraising advantage over groups supporting the measure.
In South Dakota, the Payday Lending Initiative (Initiated Measure 21) would cap interest rates for all lenders in the state at 36 percent. In this race, a single corporation, a Georgia-based short-term lender (Select Management Resources) is the sole funder of the measure's opposition and has out-fundraised the initiative's proponents 16-to-1.
Also in South Dakota, Select Management Resources is backing a decoy initiative, the Limit on Statutory Interest Rates for Loans (Amendment U), which would prevent any limit from being placed on interest rates lenders can charge, so long as the rate is agreed to in writing. While this single short-term lender is the sole funder of the campaign supporting the initiative $1,781,612, the group registered to oppose it has so far receiving reported no contributions.
These findings should be deeply disturbing to anyone who is concerned about the power of corporate money to distort our democracy following the U.S. Supreme Court's 2010 ruling in Citizens United v. Federal Election Commission.
Only when it comes to ballot initiatives, Citizens United, which unleashed unlimited corporate spending into elections for candidates, is not the problem. The ruling permitting unlimited corporate spending in ballot initiative was made nearly four decades ago, in First National Bank of Boston v. Bellotti.
Because of Bellotti, corporations can hire paid petitioners to gather the names needed to secure an initiative's place on the ballot, pay public relations firms to generate positive press coverage and buy air time for political advertisements to influence voters.
In other words, corporations can do practically everything a natural citizen can do to campaign for a grassroots initiative - but with the added advantage of the ability to quickly amass vast sums of cash and convert this financial power into political power.
States can address this onslaught of corporate spending by enacting robust campaign finance disclosure laws and legislation to enhance the role of volunteer petition gatherers, such as California's S.B. 1094.
But the solution to Citizens United and Bellotti is the same: a constitutional amendment, such as the Democracy For All Amendment that was supported by a majority of U.S. senators in 2014, can overturn both rulings by asserting the state's authority to limit corporate election spending.
The examples provided in the report illustrate the power of the concentrated wealth that corporations can deploy in elections to dramatically distort U.S. politics. In November, we will see how democracy fares against these and other corporate attacks. Then, we will make another account of the impacts of corporate political spending on ballot issues, which will provide a better measure of the work we must do to repair our damaged democracy.
-- 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 6 hours ago.
I'm not referring to the presidential race or congressional contests. I'm referring to state ballot initiatives and referenda - the democratic institutions by which citizens in many states have a direct vote state law.
In a new Public Citizen report, "Big Business Ballot Bullies," we examined eight 2016 races where corporations have already spent nearly $140 million. The war chests of these corporate-backed campaigns have amassed an average 10-to-1 financial advantage over their mostly non-corporate opponents.
The report examines eight ballot initiative races in five states - California, Colorado, Florida, Oregon and South Dakota. All eight races generated considerable corporate spending - from $646,127 against a South Dakota initiative to limit interest rates for payday lenders to an eye-popping $86,602,172 against a California initiative to lower prescription drug prices.
On average, corporate-backed groups are out-fundraising their mostly non-corporate opposition by 10-to-1 in races examined in this study. (Not counting races where the non-corporate opposition raised $0).
What are these initiative and referenda races that Corporate America is so determined to influence?
In California, there's the Drug Price Relief Act (Proposition 1), which record-breaking corporate spending by Big Pharma is aimed toward defeating with its 9-to-1 fundraising advantage. The measure seeks to lower prescription drug prices in California by using the discounted price used by the U.S. Department of Veterans Affairs as the price ceiling for drugs. Pfizer and Johnson & Johnson alone each contributed more than $7 million to defeat the measure.
Also in California is the Referendum to Overturn Ban on Single-Use Plastic Bags (Proposition 67). Grocery stores and environmental groups have joined forces to preserve the plastic bag ban, but they have been outmatched by plastics industry-backed groups seeking to repeal the ban by more than 2-to-1.
In Colorado, the State Health Care System Initiative (Amendment 69) would put in place a universal, single-payer style health care system, "ColoradoCare," for citizens of Colorado. Health insurance companies, led by Ohio-based Anthem Inc., are the amendment's top opposition, which have a 6-to-1 advantage over the group supporting the amendment.
Also in Colorado, the petition-gathering effort for the Mandatory Setback from Oil and Gas Development Amendment (Amendment 78) was a target of an unprecedented "decline to sign" campaign, which was funded by the amendment's fossil fuel company-backed opposition. The amendment would require all oil and gas development in Colorado to occur at least 2,500 feet from any occupied structure. Opponents of the measure amassed a 24-to-1 financial advantage over the measure's proponents. Ultimately, proponents did not gather enough signatures to qualify for the ballot.
Now the oil and gas industry-backed group has turned its funds toward promoting the "Raise the Bar" initiative (Amendment 71), a direct attack on democracy that would make it more difficult for grassroots movements to qualify future initiatives for the ballot.
In Florida, petitioners supporting an initiative to expand access to rooftop solar found themselves competing with petitioners pushing a utility-backed decoy solar initiative that ultimately qualified for the ballot, derailing the original solar initiative in the process. The group supporting the utility-backed solar initiative (Amendment 1 on the ballot) that would make it easier for energy utilities to restrict and raise costs for rooftop solar, has a 10-to-1 financial advantage.
In Oregon, the Business Tax Increase (Measure 97), which would add a 2.5 percent tax on corporate sales in the state and raise an estimated $3 billion for education, health care and senior services, has drawn opposition from major corporations including Albertsons-Safeway, Comcast, Equilon Enterprises (Shell) and Costco. These corporate opponents hold a 3-to-1 fundraising advantage over groups supporting the measure.
In South Dakota, the Payday Lending Initiative (Initiated Measure 21) would cap interest rates for all lenders in the state at 36 percent. In this race, a single corporation, a Georgia-based short-term lender (Select Management Resources) is the sole funder of the measure's opposition and has out-fundraised the initiative's proponents 16-to-1.
Also in South Dakota, Select Management Resources is backing a decoy initiative, the Limit on Statutory Interest Rates for Loans (Amendment U), which would prevent any limit from being placed on interest rates lenders can charge, so long as the rate is agreed to in writing. While this single short-term lender is the sole funder of the campaign supporting the initiative $1,781,612, the group registered to oppose it has so far receiving reported no contributions.
These findings should be deeply disturbing to anyone who is concerned about the power of corporate money to distort our democracy following the U.S. Supreme Court's 2010 ruling in Citizens United v. Federal Election Commission.
Only when it comes to ballot initiatives, Citizens United, which unleashed unlimited corporate spending into elections for candidates, is not the problem. The ruling permitting unlimited corporate spending in ballot initiative was made nearly four decades ago, in First National Bank of Boston v. Bellotti.
Because of Bellotti, corporations can hire paid petitioners to gather the names needed to secure an initiative's place on the ballot, pay public relations firms to generate positive press coverage and buy air time for political advertisements to influence voters.
In other words, corporations can do practically everything a natural citizen can do to campaign for a grassroots initiative - but with the added advantage of the ability to quickly amass vast sums of cash and convert this financial power into political power.
States can address this onslaught of corporate spending by enacting robust campaign finance disclosure laws and legislation to enhance the role of volunteer petition gatherers, such as California's S.B. 1094.
But the solution to Citizens United and Bellotti is the same: a constitutional amendment, such as the Democracy For All Amendment that was supported by a majority of U.S. senators in 2014, can overturn both rulings by asserting the state's authority to limit corporate election spending.
The examples provided in the report illustrate the power of the concentrated wealth that corporations can deploy in elections to dramatically distort U.S. politics. In November, we will see how democracy fares against these and other corporate attacks. Then, we will make another account of the impacts of corporate political spending on ballot issues, which will provide a better measure of the work we must do to repair our damaged democracy.
-- 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 6 hours ago.
↧
17 incredible perks companies like Google, Facebook, and Airbnb offer their employees
Most of us spend a majority of our waking hours at work, so it's only natural that we want to enjoy our time in the office as much as we can. And perks help — a lot.According to career site Glassdoor, more than half — 57% — of all workers say that perks and benefits are among the top things they consider when deciding whether to accept a job, and almost 80% of employees say that they would prefer new benefits, like health insurance or paid time off, over a pay raise.
That's why some employers are raising the bar and going beyond free food, on-site gyms, and 401(k)s to attract new talent. Companies like Airbnb and Facebook are offering unique and surprising perks like travel stipends and "Baby Cash," according to Glassdoor's list of the top employee benefits and perks.
"Benefits and perks matter because they're an added piece of the total compensation puzzle," says Scott Dobroski, Glassdoor's career-trends analyst. "Job seekers should understand what benefits and perks an employer may be offering, and do their research ahead of time to find companies that offer benefits that matter most to them."
Glassdoor's list is based on the hundreds of thousands of benefits reviews shared on Glassdoor by employees.
Through research and surveys, Glassdoor has found that benefits and perks affect recruiting efforts "in that they certainly help get prospective talent interested in a company and through the door," Dobroski says. "However, once people are hired, our research shows culture and values, career opportunities and senior leadership, not perks, are the leading factors that impact employee satisfaction, which directly affects a company's talent retention rates."
Here are some of the most incredible perks companies are offering right now:
*SEE ALSO: Here's how to respond to weird interview questions you may hear from major companies like Google and Apple*
-Accenture: gender reassignment-
Accenture covers gender reassignment for its employees as part of its commitment to LGBTQ rights and diversity.
*Overall benefits rating:* 4 / 5-Adobe: required time off-
Adobe* *shuts down the entire company for one week in December and one week over the summer.
*Overall benefits rating:* 4.6 / 5-Airbnb: travel stipend-
Airbnb,* *the Best Place to Work in 2016, gives its employees an annual stipend of $2,000 to travel and stay in an Airbnb listing anywhere in the world.
*Overall benefits rating:* 4.6 / 5
See the rest of the story at Business Insider Reported by Business Insider 5 hours ago.
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Why Health Insurance Industry Consolidation is Bad for Your Health
You undoubtedly have heard that some of the country's biggest health insurers have decided to leave several Obamacare markets, which means that tens of thousands of us will be affected next year.
You probably haven't heard--at least not lately--that some of the biggest health insurers are moving full steam ahead to merge with each other, which means that tens of millions of us--yes, millions--will be affected next year. And not in a good way. If the consolidation happens as planned, many of us will find ourselves in health plans with much worse patient satisfaction and customer complaint scores.
Here's some context: Executives of UnitedHealthcare, Aetna and Humana made headlines this summer when they announced plans to quit selling policies on several Obamacare exchanges at the end of the year because they haven't yet figured out how to turn a profit on that business. That means people enrolled in those companies' Obamacare plans will have to pick a different insurer for 2017.
*If That's Not Bad Enough*
That's a big inconvenience for those folks, of course. But far more of us, including several million who are enrolled in employer-sponsored plans, will be more than inconvenienced if state and federal regulators approve the Anthem-Cigna and Aetna-Humana mergers.
Employers, consumer groups, the American Medical Association and many other organizations have told regulators they think those mega mergers are not in the public's best interest. The U.S. Justice Department and several state officials agree. They filed a lawsuit in July to stop both of them. Nevertheless, the mergers are far from dead.
That should worry us. A lot. That's because the acquiring companies, Anthem and Aetna--but Anthem especially--have higher customer complaint ratios and lower patient satisfaction scores than other companies, as recent reports by the state of California's Office of the Patient Advocate (OPA) show. And if the Anthem-Cigna merger goes through, Anthem, with the worst scores overall, would become the nation's biggest health insurer.
*"Your Call Is Not Important to Us"*
Take a look at OPA's Annual Health Care Complaint Data Report, which provides a wealth of information about the complaints California regulators received in 2014, the most recent year for which data were available for analysis.
Anthem scored the worst by far of any of the other health plans operating in the state. Data provided to OPA by the Department of Managed Health Care, which has jurisdiction over most of the state's HMOs, showed, for example, that Anthem had 12.28 complaints per 10,000 enrollees. Compare that with Kaiser Permanente, the nonprofit company that rivals Anthem in terms of enrollment in California. Kaiser had just 4.50 complaints per 10,000. In other words, Anthem had nearly three times as many complaints as Kaiser.
Anthem also led the pack in the ratio of complaints received by the California Department of Insurance. That department said Anthem had a whopping 47.64 complaints per 10,000. Cigna, the company Anthem is trying to buy, had just 2.69 complaints per 10,000.
And it's not just in California that Anthem has generated an inordinate number of complaints about how it treats its customers. It appears to be nationwide. In fact, the Department of Justice cited Anthem's less than stellar reputation in its lawsuit to block its takeover of Cigna. This is from a September 20 story in the Hartford Courant about the status of the proposed $54 billion deal:
The federal government claims that many large employers dislike Anthem and that doctors fear the company because its large customer base gives it leverage in negotiations.
The Department of Justice complaint says that although Cigna can't get as low prices from hospital systems and doctors in some markets as Anthem does, "Cigna competes vigorously with Anthem for large groups by offering exceptional customer service, innovative wellness programs that lower its members' utilization of health care, and provider-collaboration programs with hospitals and doctors. By contrast, many large-group employers believe that Anthem provides poor customer service and is far less innovative. Soon after the merger was announced, two prospective customers complained to Cigna: "We hate Anthem and you guys are about to become them."
When it comes to how patients rate their experience with their HMOs, another report by the California Office of the Patient Advocate shows that the big for-profits involved in the proposed mergers also get much lower scores than their nonprofit competitors. Nonprofit Kaiser Permanente's HMOs were the only ones rated "excellent."
Earlier this month, a Harvard Law watchdog group filed complaints with the U.S. Department of Health and Human Services against seven big insurers--including Anthem, Cigna and Humana--alleging that they all were in violation of anti-discrimination laws pertaining to the coverage of HIV/AIDS treatments. The allegations involved refusing to cover vital medications that HIV/AIDS patients need and requiring high-cost sharing for other medications used to treat HIV/AIDS.
"When an insurer requires chronically ill patients to pay a disproportionate share of the cost of medication, it violates federal law," said Robert Greenwald, clinical professor of law at Harvard Law School.
The American Medical Association has become one of the most vocal opponents of the mega-mergers, particularly the Anthem-Cigna deal. On September 21, the AMA released a report showing that Anthem's "market power" would be significantly increased in several states and numerous metropolitan areas--especially in California--if the deal is approved.
Despite all of this, the mergers could still happen. A U.S. District Court has set a November 21 trial date for the lawsuit the Department of Justice has filed to stop the Anthem-Cigna merger. The Aetna-Humana trial is scheduled to start on December 5. Both trials likely will go on for several weeks. If the Department of Justice loses, millions of Americans will soon find themselves enrolled in health plans administered by companies with some of the industry's worst quality and customer satisfaction scores. That's something not only to worry about but also to try keep from happening. The last thing we need is for Anthem and Aetna to be more in control of our lives.
This has also been published by HEAL California. If you believe money should not be a factor in one's health, join HEAL California to make a difference.
-- 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 3 hours ago.
You probably haven't heard--at least not lately--that some of the biggest health insurers are moving full steam ahead to merge with each other, which means that tens of millions of us--yes, millions--will be affected next year. And not in a good way. If the consolidation happens as planned, many of us will find ourselves in health plans with much worse patient satisfaction and customer complaint scores.
Here's some context: Executives of UnitedHealthcare, Aetna and Humana made headlines this summer when they announced plans to quit selling policies on several Obamacare exchanges at the end of the year because they haven't yet figured out how to turn a profit on that business. That means people enrolled in those companies' Obamacare plans will have to pick a different insurer for 2017.
*If That's Not Bad Enough*
That's a big inconvenience for those folks, of course. But far more of us, including several million who are enrolled in employer-sponsored plans, will be more than inconvenienced if state and federal regulators approve the Anthem-Cigna and Aetna-Humana mergers.
Employers, consumer groups, the American Medical Association and many other organizations have told regulators they think those mega mergers are not in the public's best interest. The U.S. Justice Department and several state officials agree. They filed a lawsuit in July to stop both of them. Nevertheless, the mergers are far from dead.
That should worry us. A lot. That's because the acquiring companies, Anthem and Aetna--but Anthem especially--have higher customer complaint ratios and lower patient satisfaction scores than other companies, as recent reports by the state of California's Office of the Patient Advocate (OPA) show. And if the Anthem-Cigna merger goes through, Anthem, with the worst scores overall, would become the nation's biggest health insurer.
*"Your Call Is Not Important to Us"*
Take a look at OPA's Annual Health Care Complaint Data Report, which provides a wealth of information about the complaints California regulators received in 2014, the most recent year for which data were available for analysis.
Anthem scored the worst by far of any of the other health plans operating in the state. Data provided to OPA by the Department of Managed Health Care, which has jurisdiction over most of the state's HMOs, showed, for example, that Anthem had 12.28 complaints per 10,000 enrollees. Compare that with Kaiser Permanente, the nonprofit company that rivals Anthem in terms of enrollment in California. Kaiser had just 4.50 complaints per 10,000. In other words, Anthem had nearly three times as many complaints as Kaiser.
Anthem also led the pack in the ratio of complaints received by the California Department of Insurance. That department said Anthem had a whopping 47.64 complaints per 10,000. Cigna, the company Anthem is trying to buy, had just 2.69 complaints per 10,000.
And it's not just in California that Anthem has generated an inordinate number of complaints about how it treats its customers. It appears to be nationwide. In fact, the Department of Justice cited Anthem's less than stellar reputation in its lawsuit to block its takeover of Cigna. This is from a September 20 story in the Hartford Courant about the status of the proposed $54 billion deal:
The federal government claims that many large employers dislike Anthem and that doctors fear the company because its large customer base gives it leverage in negotiations.
The Department of Justice complaint says that although Cigna can't get as low prices from hospital systems and doctors in some markets as Anthem does, "Cigna competes vigorously with Anthem for large groups by offering exceptional customer service, innovative wellness programs that lower its members' utilization of health care, and provider-collaboration programs with hospitals and doctors. By contrast, many large-group employers believe that Anthem provides poor customer service and is far less innovative. Soon after the merger was announced, two prospective customers complained to Cigna: "We hate Anthem and you guys are about to become them."
When it comes to how patients rate their experience with their HMOs, another report by the California Office of the Patient Advocate shows that the big for-profits involved in the proposed mergers also get much lower scores than their nonprofit competitors. Nonprofit Kaiser Permanente's HMOs were the only ones rated "excellent."
Earlier this month, a Harvard Law watchdog group filed complaints with the U.S. Department of Health and Human Services against seven big insurers--including Anthem, Cigna and Humana--alleging that they all were in violation of anti-discrimination laws pertaining to the coverage of HIV/AIDS treatments. The allegations involved refusing to cover vital medications that HIV/AIDS patients need and requiring high-cost sharing for other medications used to treat HIV/AIDS.
"When an insurer requires chronically ill patients to pay a disproportionate share of the cost of medication, it violates federal law," said Robert Greenwald, clinical professor of law at Harvard Law School.
The American Medical Association has become one of the most vocal opponents of the mega-mergers, particularly the Anthem-Cigna deal. On September 21, the AMA released a report showing that Anthem's "market power" would be significantly increased in several states and numerous metropolitan areas--especially in California--if the deal is approved.
Despite all of this, the mergers could still happen. A U.S. District Court has set a November 21 trial date for the lawsuit the Department of Justice has filed to stop the Anthem-Cigna merger. The Aetna-Humana trial is scheduled to start on December 5. Both trials likely will go on for several weeks. If the Department of Justice loses, millions of Americans will soon find themselves enrolled in health plans administered by companies with some of the industry's worst quality and customer satisfaction scores. That's something not only to worry about but also to try keep from happening. The last thing we need is for Anthem and Aetna to be more in control of our lives.
This has also been published by HEAL California. If you believe money should not be a factor in one's health, join HEAL California to make a difference.
-- 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 3 hours ago.
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You Want To Fix The Economy? Then First Fix Healthcare
Submitted by Charles Hugh-Smith via OfTwoMinds blog,We don't just deserve an affordable, sustainable healthcare system - *we're doomed to bankruptcy without one.*
*What is blindingly obvious to employers but apparently invisible to the average zero-business-experience mainstream pundit is this: if you want to fix the economy, you must first fix healthcare.* If you want to pinpoint a primary reason why U.S. enterprises shift jobs overseas, you have to start with skyrocketing healthcare costs.
According to a report by the St. Louis Federal Reserve, real (adjusted for official inflation) wages have risen a mere 3% since 1970. (No wonder wage earners don't feel wealthier; if we use a more realistic measure of inflation, we haven't gained 3%--we've lost ground.)
*But if we look at total compensation costs paid by the employer (health insurance, workers' compensation, employer's share of Social Security, etc.) we find that these costs have soared 60%.* In other words, if these labor overhead costs had remained stable (i.e. gone up only as much as inflation), employers could have distributed raises of 60%.
*These labor overhead costs are the reason why wages have been stagnant for 46 years, and the dominant overhead expense is healthcare insurance.* Why has healthcare soared from 6% of GDP to 18% in four decades?
*One reason is we have the worst of all possible worlds*: we have a healthcare (what I call sickcare, because sickness is profitable but health is not) system in which for-profit corporations--cartels with immense political power--set the prices, and the government pays them.
*If you set out to design a system that optimizes price-fixing, fraud*, over-testing, questionable procedures, pharmaceutical advertising to a credulous public and opaque billing, a system with no real limits on prices, you'd end up with the American sickcare system.
*If you think this system is affordable, sustainable, and a wonderful deal for employers, you need your head examined*. Better yet, go out and get platinum coverage in ObamaCare and pay the entire monthly insurance cost yourself.
*I have written dozens of substantial analyses of sickcare/healthcare over the years. *Please start with these four:
Sickcare Will Bankrupt the Nation--And Soon (March 21, 2011)
Can Chronic Ill-Health Bring Down Great Nations? Yes It Can, Yes It Will (November 23, 2011)
America's Hidden 8% VAT: Sickcare (May 10, 2012)
ObamaCare: The Neutron Bomb That Will Decimate Employment (February 22, 2013)
*Then move on to these:*
Why "Healthcare Reform" Is Not Reform, Part I (December 28, 2009)
Why "Healthcare Reform" Is Not Reform, Part II (December 29, 2009)
The "Impossible" Healthcare Solution: Go Back to Cash (July 29, 2009)
Healthcare: A Large-Scale Solution (January 4, 2011)
A Sustainable National Healthcare System: Prevention Only (August 20, 2012)
Why America's Healthcare (Sickcare) System Is Broken and Unfixable (July 16, 2014)
*While you're gasping for breath, check out these charts.* Let's start with medical costs, which have outpaced inflation by leaps and bounds.
*The costs of the federal healthcare programs, Medicare and Medicaid, are exploding*: where are the trillions of dollars to fund these programs going to come from? Please don't say higher taxes (tax levels above 20% of GDP trigger recessions) or borrowing more money (federal debt is already pushing $20 trillion):
*After a head-fake down, health insurance costs are soaring again.*
*Our developed-world competitors manage to pay for their "socialized medicine" at roughly half the cost per capita (per person) as the U.S.*
*So you want a solution, right? The current system is not a solution, it's a poisoned blade in the heart of the economy.* Everybody knows this, just as everybody knows it's unaffordable and unsustainable.
*The solution? Let a 100 flowers bloom. Give consumers as wide a choice as possible, including government-run insurance programs.* Don't force anyone to join anything. Give employers and employees as broad a range of choices as possible--yes, including a government-run insurance program in which the government owns the entire operation--clinics, hospitals, drug manufacturers, etc., lock, stock and barrel.
*The point here is we need real competition, but our current system guarantees there cannot be real competition.* The for-profit cartels have captured the federal regulatory and funding agencies, and the last thing the cartels want is transparency and wide-open global competition.
Around 40% of the cost of the current mess is paperwork going back and forth between all the players; a one-stop shop would eliminate about 90% of those needless expenses right from the start.
Look, if the federal government offered a civilian equivalent of the Veterans Administration with its own pharmaceutical manufacturing divisions, do you really think it would cost more and be any more inefficient than the insane mess we have now?
If it did cost more, then nobody would use it and it would go away.
*In a truly competitive healthcare system, cash would be king.* Please read this before passing judgment:
The "Impossible" Healthcare Solution: Go Back to Cash (July 29, 2009)
*We don't just deserve an affordable, sustainable healthcare system--we're doomed to bankruptcy without one.* Reported by Zero Hedge 1 hour ago.
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A startup specifically designed to sell Obamacare is quitting Obamacare (UNH, AET, HUM)
Harken Health Insurance, a startup and part of UnitedHealthcare that offered low cost health plans through the Affordable Care Act (ACA) exchanges, is leaving the marketplace.Harken had been launched in early 2016 to create tailored plans that would make money in the ACA, better known as Obamacare exchanges. UnitedHealthcare, the parent company, has also rolled back its offerings through the exchanges due to financial losses.
Harken offered pans in Chicago and Georgia, but will no longer in 2017. The insurer had previously announced in August that it would not expand into the South Florida exchanges as it had planned.
"Harken Health remains committed to our innovative model of insurance paired with access to relationship-based care and we look forward to continuing to offer plans to individuals and employers who purchase coverage outside of the exchange," said the company in a statement to Business Insider.
The firm said it will continue to offer plans in various states to individuals outside of the Obamacare exchanges.
The move by Harken is the second Obamacare-focused startup that has rolled back ACA plans. Oscar, the online health insurance start-up that works through the exchanges, announced in August that it would pull out of two exchanges — in Dallas and New Jersey.
Large firms such as Aetna, UnitedHealth, and Humana have also pulled large portions of their Obamacare offerings earlier in 2016.
All of the firms have said that the pool of customers they have covered through the exchanges have been older and sicker (and thus more expensive) than they expected.
*SEE ALSO: The White House is kicking off a big push to fix Obamacare's largest problem*
Join the conversation about this story »
NOW WATCH: KRUGMAN: Obamacare was done 'on the cheap' and now it is struggling Reported by Business Insider 1 hour ago.
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STOCKS SLIPPED AMID DEUTSCHE BANK WORRIES: Here's what you need to know
Stocks slogged through the red on Thursday amid worrying headlines about Deutsche Bank.All major indices finished down for the day, while the troubled German lender's shares fell by as much as 7% in the afternoon.
First up, the scoreboard:
· *Dow:* 18,181.25, -157.99, (-0.86%)
· *S&P 500: *2,155.23, -16.24, (-0.75%)
· *Nasdaq:* 5,276.24, -42.24, (-0.79%)
· *WTI Crude:* $47.70, +$0.65, (+1.4%)
· *1o-year yield:* 1.560%, -0.007
1. Deutsche Bank got slammed again after a Bloomberg report noted that a number of hedge fund clients have started shifting business to other banks. The firm was down by about 7.2% at $11.42 a share in the early afternoon ET.
2. Wells Fargo CEO John Stumpf got raked over the coals by Congress for over 4 hours. Stumpf answered questions regarding the opening of 2 million bogus accounts by Wells Fargo employees without customers' knowledge from 2011 to 2015.
3. The US economy was stronger last quarter than we first thought. According to the Commerce Department's third estimate of GDP, the US economy grew by 1.4% in the second quarter, above economists' expectations of 1.3%.
4. "The current housing recovery could stall" if new construction doesn't pick up, according to the National Association of Realtors. The NAR said in its monthly report on Thursday that pending sales of single-family homes, condos and co-ops fell 2.4% in August.
5. Chesapeake Energy says it's been subpoenaed over its accounting practices. In a regulatory filing on Thursday, the company said the Department of Justice served it a subpoena, asking for information about accounting practices for the purchase of oil and gas properties, how it classified them, and "related matters."
6. A startup specifically designed to sell Obamacare is quitting Obamacare. Harken Health Insurance, a startup and part of UnitedHealthcare that offered low-cost health plans through the Affordable Care Act (ACA) exchanges, is out.
7. Qualcomm is reportedly in talks to buy NXP Semiconductors, and both stocks are surging. A deal could happen within the next two to three months, according to the Wall Street Journal report.
8. Initial jobless claims rose less than expected. Notably, this is the 82nd straight week that claims haven't climbed above 300,000.
*Additionally:*
OPEC reached a surprising deal — here's what comes next.
"A perfect storm:" Here are 50 slides that will get every gold bull psyched up.
Trump's not the only reason the Mexican peso has been getting whacked.
A huge hedge fund just settled bribery charges with the feds for $200 million.
*SEE ALSO: What 25 major world leaders and dictators looked like when they were young*
Join the conversation about this story »
NOW WATCH: Krugman reveals the economic risks of a Trump presidency Reported by Business Insider 6 minutes ago.
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Molina Healthcare Plans Receive Ratings from NCQA’s Medicaid Health Insurance Plan Ratings 2016-2017
LONG BEACH, Calif.--(BUSINESS WIRE)--Molina Healthcare, Inc. (NYSE:MOH) today announced that its plans received ratings from the widely respected National Committee for Quality Assurance (NCQA) as part of the Medicaid Health Insurance Plan Ratings for 2016-2017. The ratings measure Medicaid health plans based on their combined HEDIS®, CAHPS® and NCQA Accreditation standards scores. Molina Healthcare’s health plans in California, Florida, Illinois, Michigan, New Mexico, Ohio, South Carolina, Tex
Reported by Business Wire 4 minutes ago.
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The 3 Best Budgeting Apps For Freelancers
This article was written by Adam Cecil of PolicyGenius.
Being a freelancer makes budgeting at least twice as difficult as being a salaryman: You have to build a personal budget and a business budget, making sure that the books stay clean and the IRS has no reason to audit you. Plus, you don't always have a steady flow of income - your month-to-month income will likely look a little bit like a rollercoaster.
On top of all that money business and the business of money, freelancers also have to be very strict about their time. If you bill by the hour, you need to know how many hours you worked on something. And if you don't, well, you still want to make sure you're not wasting time on a project that's not paying as much as a different project.
To help you out with that task, we put together this list of three awesome budgeting apps that will help you budget your personal life, budget your business, and budget your time.
*Best for personal budget: You Need A Budget*
*Price:* $5 per month or $50 per year
I love You Need A Budget. I don't get paid for recommending it but I really wish I did - if I had a dollar for every person I converted to using it, I'd have at least enough money to buy a burrito or something.
You Need A Budget (YNAB for short) is hands down the best way I've found to handle my own personal finances. It connects to your bank accounts just like popular competitor Mint.com does, but unlike Mint, YNAB can actually help you change your bad money habits and keep up the good habits. If you stick with YNAB, you'll be highly discouraged from overspending or taking on additional personal debt you don't need.
If you want more information on YNAB, please read one of my two reviews (I seriously love this program).
*Best for business budget: QuickBooks Self-Employed*
*Price:* $10 per month
QuickBooks Self-Employed is the gold standard for freelancers and other independent contractors. It's designed to help you separate your personal expenses from your business expenses and make your quarterly and year-end tax times easy as pie.
On top of that, QuickBooks Self-Employed has a bunch of features designed to make tracking your business expenses easy. For example, the app can track your mileage automatically based on how fast your phone is moving through space. You can use the app to take photos of your receipts, too - a slightly less exciting but still important feature. And once you categorize your transactions, it can find tax deductions for you.
Then, every quarter, QuickBooks Self-Employed can help you file for taxes using TurboTax. It's so easy, you'll forget that you actually have extra work to do to file your taxes!
*Best for time budget: Toggl*
*Price:* Free
There are a ton of time-tracking apps out there, but a lot of them only work on your phone or work on your phone and your smartwatch or work by sending smoke signals to the cloud and hoping for the best. Toggl, on the other hand, works everywhere: iOS, Android, Windows, Linux, Mac, and even in the Chrome browser.
Plus, its basic features are always free for up to five users per team, so if you do contract work with more than one person, both of you can track time for free forever. There are a ton of Pro features that may be worth paying for: adding billable rates, exporting to PDF and Excel, a project dashboard. Pro plans start at $10 per user per month.*****When it comes to being a freelancer, there are a ton of new finance tricks you'll have to learn. Tax breaks, 1099 forms, liability insurance - it makes life more complicated, but the rewards are more than worth it. Being able to work for yourself, choose your own projects, and set your own schedule is well worth the added complexity of your financial situation. Want more freelancer resources? Check out our giant Freelancers Center, chock full of guides and articles for all of your freelance needs.
Have more budgeting apps that you want to suggest? Leave a comment below!*****PolicyGenius is rethinking insurance from the consumer's perspective - because it's about time somebody did. We're making it easy to learn about, shop for and buy insurance. Our digital insurance advisor and online quote engines for life insurance, health insurance, pet insurance, renters insurance and long-term disability insurance will help you to get the coverage you need.
-- 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.
Being a freelancer makes budgeting at least twice as difficult as being a salaryman: You have to build a personal budget and a business budget, making sure that the books stay clean and the IRS has no reason to audit you. Plus, you don't always have a steady flow of income - your month-to-month income will likely look a little bit like a rollercoaster.
On top of all that money business and the business of money, freelancers also have to be very strict about their time. If you bill by the hour, you need to know how many hours you worked on something. And if you don't, well, you still want to make sure you're not wasting time on a project that's not paying as much as a different project.
To help you out with that task, we put together this list of three awesome budgeting apps that will help you budget your personal life, budget your business, and budget your time.
*Best for personal budget: You Need A Budget*
*Price:* $5 per month or $50 per year
I love You Need A Budget. I don't get paid for recommending it but I really wish I did - if I had a dollar for every person I converted to using it, I'd have at least enough money to buy a burrito or something.
You Need A Budget (YNAB for short) is hands down the best way I've found to handle my own personal finances. It connects to your bank accounts just like popular competitor Mint.com does, but unlike Mint, YNAB can actually help you change your bad money habits and keep up the good habits. If you stick with YNAB, you'll be highly discouraged from overspending or taking on additional personal debt you don't need.
If you want more information on YNAB, please read one of my two reviews (I seriously love this program).
*Best for business budget: QuickBooks Self-Employed*
*Price:* $10 per month
QuickBooks Self-Employed is the gold standard for freelancers and other independent contractors. It's designed to help you separate your personal expenses from your business expenses and make your quarterly and year-end tax times easy as pie.
On top of that, QuickBooks Self-Employed has a bunch of features designed to make tracking your business expenses easy. For example, the app can track your mileage automatically based on how fast your phone is moving through space. You can use the app to take photos of your receipts, too - a slightly less exciting but still important feature. And once you categorize your transactions, it can find tax deductions for you.
Then, every quarter, QuickBooks Self-Employed can help you file for taxes using TurboTax. It's so easy, you'll forget that you actually have extra work to do to file your taxes!
*Best for time budget: Toggl*
*Price:* Free
There are a ton of time-tracking apps out there, but a lot of them only work on your phone or work on your phone and your smartwatch or work by sending smoke signals to the cloud and hoping for the best. Toggl, on the other hand, works everywhere: iOS, Android, Windows, Linux, Mac, and even in the Chrome browser.
Plus, its basic features are always free for up to five users per team, so if you do contract work with more than one person, both of you can track time for free forever. There are a ton of Pro features that may be worth paying for: adding billable rates, exporting to PDF and Excel, a project dashboard. Pro plans start at $10 per user per month.*****When it comes to being a freelancer, there are a ton of new finance tricks you'll have to learn. Tax breaks, 1099 forms, liability insurance - it makes life more complicated, but the rewards are more than worth it. Being able to work for yourself, choose your own projects, and set your own schedule is well worth the added complexity of your financial situation. Want more freelancer resources? Check out our giant Freelancers Center, chock full of guides and articles for all of your freelance needs.
Have more budgeting apps that you want to suggest? Leave a comment below!*****PolicyGenius is rethinking insurance from the consumer's perspective - because it's about time somebody did. We're making it easy to learn about, shop for and buy insurance. Our digital insurance advisor and online quote engines for life insurance, health insurance, pet insurance, renters insurance and long-term disability insurance will help you to get the coverage you need.
-- 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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Forget the Candidates, How Healthy Is Your Business?
Health has become an important issue in the presidential election. Why is Trump sniffing so much? Did Clinton try to hide her pneumonia? Which candidate is healthier? How much detail do we need in the medical reports for each candidate?
It's interesting that while we focus on the physical health of others, we often ignore the health of our business in ways that can really harm us.
Recently I've been working with the Kaplan Group, the country's premiere commercial collection agency, and I've discovered that one of the most common mistakes business owners make is not thinking about how they will collect money owed, before that money is owed to them. If you're waiting until you've fired a client for not paying you to think about collecting money from that client, you may have waited too long to seek treatment. Here are steps you can take to make sure the health of your business doesn't suffer from unpaid invoices.
• Check your client's health first. Running a credit report before accepting a client's business can be a fairly low cost way to protect the financial health of your company.
• Don't wait for a check up. Before you fire a client for nonpayment, they probably already owe you several unpaid invoices. We all know that if you let a health issue slide for too long it can get worse. The same is true of unpaid invoices. When you let a company pay you late, you teach them that it's ok to pay you late. Obviously, you don't want to be rude or threaten legal action immediately, but you also don't want to get too far down the road of nonpayment. Remember, once an invoice is 90 days late there is a 26% chance that the invoice will never get paid.
• Know how to diagnose a problem. If you have a client that is suddenly late on payments and also seem to be experiencing high turnover or other changes in their business, it may be a sign that the health of their business is suffering.
• Have "health insurance." No matter how healthy you think you are, you still want to be prepared for an emergency. In the case of your business that means it's important to make sure that you have protections for nonpayment in place in your contract. In general, you will want to specify items such as interest, collection fees, and attorney fees in the case of nonpayment. You will also want to have an acceleration clause that specifies all remaining payments for the full term of the contract are immediately due in the event you terminate for nonpayment.
Whether it's health or business, no one can be prepared for every emergency. But knowing the steps you need to take to move quickly and recover any unpaid invoices can keep your business strong.
Most collection agencies only get paid if they can collect for you so if you have a late account, the sooner you turn it over to a reputable commercial collection agency the better.
-- 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 23 hours ago.
It's interesting that while we focus on the physical health of others, we often ignore the health of our business in ways that can really harm us.
Recently I've been working with the Kaplan Group, the country's premiere commercial collection agency, and I've discovered that one of the most common mistakes business owners make is not thinking about how they will collect money owed, before that money is owed to them. If you're waiting until you've fired a client for not paying you to think about collecting money from that client, you may have waited too long to seek treatment. Here are steps you can take to make sure the health of your business doesn't suffer from unpaid invoices.
• Check your client's health first. Running a credit report before accepting a client's business can be a fairly low cost way to protect the financial health of your company.
• Don't wait for a check up. Before you fire a client for nonpayment, they probably already owe you several unpaid invoices. We all know that if you let a health issue slide for too long it can get worse. The same is true of unpaid invoices. When you let a company pay you late, you teach them that it's ok to pay you late. Obviously, you don't want to be rude or threaten legal action immediately, but you also don't want to get too far down the road of nonpayment. Remember, once an invoice is 90 days late there is a 26% chance that the invoice will never get paid.
• Know how to diagnose a problem. If you have a client that is suddenly late on payments and also seem to be experiencing high turnover or other changes in their business, it may be a sign that the health of their business is suffering.
• Have "health insurance." No matter how healthy you think you are, you still want to be prepared for an emergency. In the case of your business that means it's important to make sure that you have protections for nonpayment in place in your contract. In general, you will want to specify items such as interest, collection fees, and attorney fees in the case of nonpayment. You will also want to have an acceleration clause that specifies all remaining payments for the full term of the contract are immediately due in the event you terminate for nonpayment.
Whether it's health or business, no one can be prepared for every emergency. But knowing the steps you need to take to move quickly and recover any unpaid invoices can keep your business strong.
Most collection agencies only get paid if they can collect for you so if you have a late account, the sooner you turn it over to a reputable commercial collection agency the better.
-- 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 23 hours ago.
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