Draft report proposes phasing out tax subsidy for private health insurance
Reported by Irish Times 3 hours ago.
Mostly free health system would cost €5.4bn, committee says
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Pet Insurance Wellness Plans Gaining Popularity
The number of dog and cat owners purchasing wellness plans for their pets is increasing.
Columbus, Ohio (PRWEB) April 06, 2017
The U.S. pet insurance market continues to gain momentum as American dog and cat owners look for ways to protect their furry family members.
The breadth and quality of veterinary care has never been better, which is a testament to the vet industry. But, with improved care, have come increased costs.
Major medical pet insurance plans, which cover accidents and illnesses, are the still the most popular type of coverage, accounting for over 90% of all plans purchased.
However, as the American pet insurance marketplace continues to mature and improve, new coverage options are gaining popularity, most notably, pet wellness plans.
“We’re seeing a trend where pet owners are looking to cover more than just major medical issues,” explained Nick Braun, founder of PetInsuranceQuotes.com. “That explains why we’re seeing an increased demand for wellness coverage.”
Pet wellness plans cover routine care expenses including annual visits, vaccinations and dental cleaning.
Several pet insurance companies offer wellness coverage that can be added to major medical plans.
On average, the cost of adding wellness coverage is $20 per month, depending on the company and amount of coverage.
According to data provided by PetInsuranceQuotes.com, only 16% of plans purchased in 2016 were from pet insurance companies that offer wellness coverage.
Twelve months later that percentage has grown nearly three-fold to 43%.
This trend isn’t surprising as many American pet owners are accustomed to human health insurance, which covers both major medical issues and routine care expenses like office visits and shots.
The good news for pet owners is that the number of insurance options continues to grow and improve. A healthy, competitive environment has created a marketplace with an array of options.
“Wellness plans are most popular with dog insurance customers who are looking to cover spay/neuter, vaccinations, dental cleaning and other annual expenses,” said Braun.
The pet insurance industry will continue to realize strong growth as awareness and education about options become easier to come by.
“I’ve been in this market for over a decade, and I continue to be wowed by the innovation and improvement these companies continue to make.”
As pet wellness plans continue to gain popularity, one thing is for certain, life has never been better for American dogs and cats.
About PetInsuranceQuotes.com
Founded in 2011, PetInsuranceQuotes.com is America’s #1 pet insurance marketplace. The company sells thousands of pet insurance policies and offers plans from all the leading providers. Reported by PRWeb 2 hours ago.
Columbus, Ohio (PRWEB) April 06, 2017
The U.S. pet insurance market continues to gain momentum as American dog and cat owners look for ways to protect their furry family members.
The breadth and quality of veterinary care has never been better, which is a testament to the vet industry. But, with improved care, have come increased costs.
Major medical pet insurance plans, which cover accidents and illnesses, are the still the most popular type of coverage, accounting for over 90% of all plans purchased.
However, as the American pet insurance marketplace continues to mature and improve, new coverage options are gaining popularity, most notably, pet wellness plans.
“We’re seeing a trend where pet owners are looking to cover more than just major medical issues,” explained Nick Braun, founder of PetInsuranceQuotes.com. “That explains why we’re seeing an increased demand for wellness coverage.”
Pet wellness plans cover routine care expenses including annual visits, vaccinations and dental cleaning.
Several pet insurance companies offer wellness coverage that can be added to major medical plans.
On average, the cost of adding wellness coverage is $20 per month, depending on the company and amount of coverage.
According to data provided by PetInsuranceQuotes.com, only 16% of plans purchased in 2016 were from pet insurance companies that offer wellness coverage.
Twelve months later that percentage has grown nearly three-fold to 43%.
This trend isn’t surprising as many American pet owners are accustomed to human health insurance, which covers both major medical issues and routine care expenses like office visits and shots.
The good news for pet owners is that the number of insurance options continues to grow and improve. A healthy, competitive environment has created a marketplace with an array of options.
“Wellness plans are most popular with dog insurance customers who are looking to cover spay/neuter, vaccinations, dental cleaning and other annual expenses,” said Braun.
The pet insurance industry will continue to realize strong growth as awareness and education about options become easier to come by.
“I’ve been in this market for over a decade, and I continue to be wowed by the innovation and improvement these companies continue to make.”
As pet wellness plans continue to gain popularity, one thing is for certain, life has never been better for American dogs and cats.
About PetInsuranceQuotes.com
Founded in 2011, PetInsuranceQuotes.com is America’s #1 pet insurance marketplace. The company sells thousands of pet insurance policies and offers plans from all the leading providers. Reported by PRWeb 2 hours ago.
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As the Obamacare debate rages on, consumers increasingly manage health affairs online
While the media focuses on the fate of Obamacare, outside the Beltway consumers are quietly changing how they manage and pay for healthcare, per a new report by Internet Health Management
Chicago, IL (PRWEB) April 06, 2017
If current trends continue, consumers will pay more out of their pocket for healthcare and use the internet and self-service web tools to help them get the best care at the lowest possible price.
But there remain big variations in how fast U.S. hospitals, health systems, insurers and other organizations are moving to give consumers more access to self-service digital and mobile tools to manage their health, health insurance and payments online, according to a new report from Internet Health Management and Digital Commerce 360.
The report What’s Next in Digital Healthcare: Analyzing the data and trends shaping the future of web-driven consumer healthcare is designed to help healthcare executives understand the trends driving web-driven consumer healthcare and how and why hospitals, health systems and insurers are building out their online and mobile services.
Innovative healthcare systems leading the way include Carolinas Healthcare, Cleveland Clinic, Geisinger Health Systems, Kaiser Permanente and Mayo Clinic and major health insurers such as Aetna Inc. and UnitedHealth Group. Organizations like these are investing in building digital and mobile healthcare websites and apps that let consumers go online to manage their healthcare affairs in a myriad of ways, such as signing up for or renewing health coverage, checking their medical records and lab results, and getting a prescription filled or refilled.
But the pace of advancement of digital healthcare varies widely by healthcare segment—and organization, according to this new report from Internet Health Management, the leading provider of news, analysis and data on web-driven consumer healthcare and Digital Commerce 360, an information portal that also covers the impact of e-commerce on retail and business-to-business transactions.
Outdated computer systems, obstacles to sharing healthcare data, tight resources and cybercrime are among the core reasons preventing many healthcare organizations from introducing or expanding digital and mobile healthcare, according to the report.
“When it comes to consumer-facing web technology, healthcare still lags behind such other business-to-consumer industries as banking, retail and travel,” says Internet Health Management editor and publisher Mark Brohan.
What’s Next in Digital Healthcare is the first in a series of executive and research reports that are forthcoming from Internet Health Management.
Later this month Internet Health Management will release the Digital Hospital 500, the first-ever annual ranking of the digital services offered by U.S. hospitals based on metrics such as the number of self-service web and mobile features available to patients, web traffic, social media followers and other data.
“We are committed to keeping the healthcare industry—and the companies that supply the healthcare market with the technology and services that enable digital and mobile healthcare to happen—fully informed with timely research, data and analysis on the trends changing how this $4 trillion industry does business,” says Molly Love, president and CEO of Vertical Web Media, publisher of Digital Commerce 360 and Internet Health Management.
About Internet Health Management
Internet Health Management offers in-depth coverage of the internet, mobile, and e-commerce technologies and business strategies fundamentally reshaping the U.S. healthcare system.
About Digital Commerce 360
Digital Commerce 360 provides insight, research and analysis of the trends, technologies and people that are shaping the future of multiple digital commerce markets including retail, business-to-business e-commerce and web-driven consumer healthcare.
For information contact Mark Brohan at 312-362-9535 or Mark(at)verticalwebmedia.com. For advertising opportunities, please contact Judy Dellert at 312-572-6279 or judy(at)verticalwebmedia.com Reported by PRWeb 1 hour ago.
Chicago, IL (PRWEB) April 06, 2017
If current trends continue, consumers will pay more out of their pocket for healthcare and use the internet and self-service web tools to help them get the best care at the lowest possible price.
But there remain big variations in how fast U.S. hospitals, health systems, insurers and other organizations are moving to give consumers more access to self-service digital and mobile tools to manage their health, health insurance and payments online, according to a new report from Internet Health Management and Digital Commerce 360.
The report What’s Next in Digital Healthcare: Analyzing the data and trends shaping the future of web-driven consumer healthcare is designed to help healthcare executives understand the trends driving web-driven consumer healthcare and how and why hospitals, health systems and insurers are building out their online and mobile services.
Innovative healthcare systems leading the way include Carolinas Healthcare, Cleveland Clinic, Geisinger Health Systems, Kaiser Permanente and Mayo Clinic and major health insurers such as Aetna Inc. and UnitedHealth Group. Organizations like these are investing in building digital and mobile healthcare websites and apps that let consumers go online to manage their healthcare affairs in a myriad of ways, such as signing up for or renewing health coverage, checking their medical records and lab results, and getting a prescription filled or refilled.
But the pace of advancement of digital healthcare varies widely by healthcare segment—and organization, according to this new report from Internet Health Management, the leading provider of news, analysis and data on web-driven consumer healthcare and Digital Commerce 360, an information portal that also covers the impact of e-commerce on retail and business-to-business transactions.
Outdated computer systems, obstacles to sharing healthcare data, tight resources and cybercrime are among the core reasons preventing many healthcare organizations from introducing or expanding digital and mobile healthcare, according to the report.
“When it comes to consumer-facing web technology, healthcare still lags behind such other business-to-consumer industries as banking, retail and travel,” says Internet Health Management editor and publisher Mark Brohan.
What’s Next in Digital Healthcare is the first in a series of executive and research reports that are forthcoming from Internet Health Management.
Later this month Internet Health Management will release the Digital Hospital 500, the first-ever annual ranking of the digital services offered by U.S. hospitals based on metrics such as the number of self-service web and mobile features available to patients, web traffic, social media followers and other data.
“We are committed to keeping the healthcare industry—and the companies that supply the healthcare market with the technology and services that enable digital and mobile healthcare to happen—fully informed with timely research, data and analysis on the trends changing how this $4 trillion industry does business,” says Molly Love, president and CEO of Vertical Web Media, publisher of Digital Commerce 360 and Internet Health Management.
About Internet Health Management
Internet Health Management offers in-depth coverage of the internet, mobile, and e-commerce technologies and business strategies fundamentally reshaping the U.S. healthcare system.
About Digital Commerce 360
Digital Commerce 360 provides insight, research and analysis of the trends, technologies and people that are shaping the future of multiple digital commerce markets including retail, business-to-business e-commerce and web-driven consumer healthcare.
For information contact Mark Brohan at 312-362-9535 or Mark(at)verticalwebmedia.com. For advertising opportunities, please contact Judy Dellert at 312-572-6279 or judy(at)verticalwebmedia.com Reported by PRWeb 1 hour ago.
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House Freedom Caucus signals support for healthcare bill with changes
The majority of House Freedom Caucus members will vote for a Republican healthcare bill if changes offered by the White House are included in the legislation, the head of the conservative group of House Republicans said on Thursday. U.S. Representative c said the group wants to see health insurance ...
Reported by Raw Story 1 hour ago.
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Unisaúde and Medsis to Launch Healthcare Payment Card to Serve Millions in Brazil
*Business Wire India*Unisaúde, one of the largest emerging providers of direct discounted health services in Brazil, has announced the launch of a dedicated payment card for health services that caters to the middle and upper class individuals affected by the exorbitantly high healthcare costs. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170405006231/en/ The aim is to provide a prepaid, reloadable debit card solution to all members that manages benefits, consultations, hospital care, medications, and even veterinary services. The project will provide cost-effective benefits to members, while facilitating scheduling and payments throughout Brazil. One driving factor for this program is the unusually low reimbursement rates to healthcare providers and pharmacies through the standard insurance companies. With the Unisaude Card program, providers will offer direct discounts to individuals, who acquire benefits for using the program for direct payments. With Healthcare plans for upper and middle class recipients being in the realm of $3000 Reales (approximately $1000 USD) monthly, the direct spend and discount benefits help millions access services at a much lower cost point. Unisaúde is partnering with Medsis and their payments processing partner, WAIV, to work to immediately onboard the nearly 1.8 million members currently paying an average of $340 Reales a month in services today (+/- $110 USD monthly). For the low cost of $39 Reales a month, members have access to the growing network of discounts and services, substantially increasing monthly savings. Jose Carlos Carvahlo, CEO, Director, and visionary of the Unisaude program expressed his excitement, “I am very happy with the partnership between UNISAÚDE and MEDSIS. I am sure that this partnership will strengthen the Brazilian healthcare market.” Medsis will merge all existing database systems into one unified civilian record using their database technology, CEREBRO, while WAIV will be the financial bridge between Unisaúde and the local Brazilian Bank to create accounts enabling network branded debit cards for Unisaude’s members to securely pay for services or medications and access benefits, as well as maximize their savings. Dax Cabrera, the founder of Medsis, said, “Medsis is excited to partner with Unisaúde to transform the existing system, in order to provide the services and solutions for a healthier tomorrow..” “This is a very important project,” John Fenga, CEO of WAIV, said. “Healthcare is essential to everyone, and allowing more people to access it makes the world a better place.” *About the Players:* *Unisaúde* (unisaudebrasil.com.br) is a health insurance administrator affiliated with the Brazilian Government that offers health solutions for companies, relying on a large providers’ network. They work from an integral model of promotion, prevention, treatment, and maintenance. *Medsis* (Medsis.com) is an international technology company that provides Big Data management solutions that enable access, integration, consolidation and analytics even in environments with volatile infrastructure. *WAIV *(WAIVCard.com) is a global remittance company designed to make international money transfers safer, faster, and cheaper. Their aim is to increase financial inclusion worldwide for the 2 billion unbanked people across the globe. View source version on businesswire.com: http://www.businesswire.com/news/home/20170405006231/en/
MULTIMEDIA AVAILABLE :
http://www.businesswire.com/news/home/20170405006231/en/ Reported by Business Wire India 2 hours ago.
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Inside Uber's Latest Move To Exploit Its Drivers And Hide Behind The Courts
With all the scandals Uber has been engrossed in, you may have missed a small, but extremely important, piece of news that represents a huge win for the company and a huge loss for their workforce. This week, U.S. District Judge Robert Lasnik issued a temporary restraining order on a 2015 Seattle law that would give drivers for rideshare companies like Uber the right to join a union. This ruling should alarm progressives and everyone who believes in a fair and just society.
Recently, we also got a glimpse of what Uber thinks about its workers and why this ruling could be so devastating to the men and women who drive for the company. A few weeks ago, Uber CEO Travis Kalanick was caught on camera arguing with a driver named Fawzi Kamel. Kamel’s main complaint to his boss: Uber is making it tougher and tougher for drivers to make ends meet.
No empathy or concern
The video shows that Kalanick has no empathy or concern for the struggling men and women who helped him build a $69 billion company. When Kamel mentioned that he’s nearly $100,000 in debt because of Uber, Kalanick berated him saying, “You know what, some people don’t like to take responsibility for their own shit. They blame everything in their life on somebody else.”
It’s important to understand exactly how Uber and other rideshare companies are exploiting their workforces. Their high-priced lawyers have expertly taken advantage of loopholes in labor law to classify drivers like Kamel as “independent contractors” rather than the employees they actually are. Kalanick would argue that this is because Uber is a “technology company,” not a transportation provider.
*The truth*
The truth is that Uber controls every aspect of the work lives of the people who drive for it. Uber can unilaterally lower their rate of pay, “switch drivers off” without due process, and oversaturate the market by adding more drivers at any given time. Drivers lack health and unemployment insurance, overtime pay, retirement benefits, workers’ compensation and the right to unionize.
Goldman Sachs and Wall Street even loaned $1 billion to Uber, so they could provide predatory subprime auto loans to drivers to build out its car fleet infrastructure. Uber strongly encourages drivers to buy new, attractive cars, and aggressively markets loans for those cars to drivers ― many of whom earn too little to maintain a good credit history.
Drivers who can’t keep up with payments quickly find themselves underwater when Uber lowers their rate of pay and floods the market with more drivers. The company doesn’t care about the effect this has on its current drivers because having more cars on the street is good for Uber’s bottom line.
In some places, drivers are pushing back. In New York City, over 16,000 drivers for Uber, Lyft and other rideshare companies have signed union cards to join North America’s oldest and largest transit union ― the Amalgamated Transit Union ― as members of ATU Local 1181.
Drivers only want what we all want
These drivers only want what we all want for ourselves and our families ― fair wages, safe working conditions, health insurance, and retirement security. Cab drivers in New York and other major cities have had these benefits for generations, but the entry of Uber into the marketplace has put these good, middle-class jobs at risk.
Courts and state labor commissions in New York and California have begun to rule in favor of drivers, designating some individual workers as “employees” and requiring Uber to provide them with basic benefits like health insurance, workers’ compensation, holiday pay, etc.
Seattle law Judge Lasnik placed a temporary restraining order on a law that prevents these companies from exploiting their workers as “individual contractors,” rather than employees who have the right to form a union.
*A troubling warning*
Lasnik’s ruling sends a troubling warning to us all as a society. How will we grapple with the massive challenges that face workers as their livelihoods continue to be disrupted by the “Gig Economy?” Is it fair to allow a company that employs hundreds of thousands to pretend their workers are not really employees?
It’s time for federal, state and local municipalities, and the courts to step in and clearly define what it means to be a real employee, strengthen regulations that protect workers, and allow these workers to vote and join a union if they so choose.
When speaking to Uber’s female employees regarding the issue of sexual harassment, Kalanick said he “wants to root out the injustice.” We think it is an injustice when a company valued at $69 billion fails to pay a stable living wage or provide basic employee benefits. Uber has become the 21st century Walmart – a company that earns billions of dollars and refuses to provide basic benefits to its workforce, making taxpayers pick up the tab.
Uber and other rideshare companies need to start respecting their drivers and appreciate the fact that they are building multi-billion dollar companies on the backs of hardworking Americans and Canadians.type=type=RelatedArticlesblockTitle=Related... + articlesList=58e3cc92e4b02ef7e0e6e113,58dab428e4b07f61a2bb891a
-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website. Reported by Huffington Post 21 hours ago.
Recently, we also got a glimpse of what Uber thinks about its workers and why this ruling could be so devastating to the men and women who drive for the company. A few weeks ago, Uber CEO Travis Kalanick was caught on camera arguing with a driver named Fawzi Kamel. Kamel’s main complaint to his boss: Uber is making it tougher and tougher for drivers to make ends meet.
No empathy or concern
The video shows that Kalanick has no empathy or concern for the struggling men and women who helped him build a $69 billion company. When Kamel mentioned that he’s nearly $100,000 in debt because of Uber, Kalanick berated him saying, “You know what, some people don’t like to take responsibility for their own shit. They blame everything in their life on somebody else.”
It’s important to understand exactly how Uber and other rideshare companies are exploiting their workforces. Their high-priced lawyers have expertly taken advantage of loopholes in labor law to classify drivers like Kamel as “independent contractors” rather than the employees they actually are. Kalanick would argue that this is because Uber is a “technology company,” not a transportation provider.
*The truth*
The truth is that Uber controls every aspect of the work lives of the people who drive for it. Uber can unilaterally lower their rate of pay, “switch drivers off” without due process, and oversaturate the market by adding more drivers at any given time. Drivers lack health and unemployment insurance, overtime pay, retirement benefits, workers’ compensation and the right to unionize.
Goldman Sachs and Wall Street even loaned $1 billion to Uber, so they could provide predatory subprime auto loans to drivers to build out its car fleet infrastructure. Uber strongly encourages drivers to buy new, attractive cars, and aggressively markets loans for those cars to drivers ― many of whom earn too little to maintain a good credit history.
Drivers who can’t keep up with payments quickly find themselves underwater when Uber lowers their rate of pay and floods the market with more drivers. The company doesn’t care about the effect this has on its current drivers because having more cars on the street is good for Uber’s bottom line.
In some places, drivers are pushing back. In New York City, over 16,000 drivers for Uber, Lyft and other rideshare companies have signed union cards to join North America’s oldest and largest transit union ― the Amalgamated Transit Union ― as members of ATU Local 1181.
Drivers only want what we all want
These drivers only want what we all want for ourselves and our families ― fair wages, safe working conditions, health insurance, and retirement security. Cab drivers in New York and other major cities have had these benefits for generations, but the entry of Uber into the marketplace has put these good, middle-class jobs at risk.
Courts and state labor commissions in New York and California have begun to rule in favor of drivers, designating some individual workers as “employees” and requiring Uber to provide them with basic benefits like health insurance, workers’ compensation, holiday pay, etc.
Seattle law Judge Lasnik placed a temporary restraining order on a law that prevents these companies from exploiting their workers as “individual contractors,” rather than employees who have the right to form a union.
*A troubling warning*
Lasnik’s ruling sends a troubling warning to us all as a society. How will we grapple with the massive challenges that face workers as their livelihoods continue to be disrupted by the “Gig Economy?” Is it fair to allow a company that employs hundreds of thousands to pretend their workers are not really employees?
It’s time for federal, state and local municipalities, and the courts to step in and clearly define what it means to be a real employee, strengthen regulations that protect workers, and allow these workers to vote and join a union if they so choose.
When speaking to Uber’s female employees regarding the issue of sexual harassment, Kalanick said he “wants to root out the injustice.” We think it is an injustice when a company valued at $69 billion fails to pay a stable living wage or provide basic employee benefits. Uber has become the 21st century Walmart – a company that earns billions of dollars and refuses to provide basic benefits to its workforce, making taxpayers pick up the tab.
Uber and other rideshare companies need to start respecting their drivers and appreciate the fact that they are building multi-billion dollar companies on the backs of hardworking Americans and Canadians.type=type=RelatedArticlesblockTitle=Related... + articlesList=58e3cc92e4b02ef7e0e6e113,58dab428e4b07f61a2bb891a
-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website. Reported by Huffington Post 21 hours ago.
↧
Public Pressure On White House Could Help Prevent Mass Starvation In Yemen
“Shame on us,” wrote Nicholas Kristof in The New York Times last month. “The Saudis have managed to block coverage of the crimes against humanity they are perpetrating in Yemen, and the US backs the Saudis.”
He was referring to a Saudi-led military intervention in Yemen, which now puts millions of people at risk of death from famine.
As the new administration approaches its first 100 days, Americans who care about the future of their country have understandably been preoccupied with the humanitarian consequences of Trump’s rule at home. These are things that affect us the most – with “us” including immigrants who live here. Health insurance, the environment, education, climate change, taxation and the budget – big battles have been joined, some have been won, and there are many more ahead.
But there are moments when we can help save millions of lives by taking a break from our daily struggles to prevent terrible damage that our government is about to do to people thousands of miles away. This is one of those moments.
The White House is reported to be deciding this week whether to support a planned attack on the port of Hodeida, in Yemen, by a Saudi-led coalition supporting the deposed government there in its two-year old war with Houthi rebels, who now control most of Yemen’s population centers.
This is a port where almost 80 percent of the country’s food enters – Yemen is overwhelmingly dependent on food imports, and was already the poorest country in the region prior to the U.S.-backed Saudi war. The UN reports that 3.3 million people, including 2.1 million children are already acutely malnourished. Hundreds of thousands of children could die if this port is further destroyed in the bombing that will likely ensue if our government gives the green light and direct assistance in the operation.
Here in Washington, dozens of members of the House of Representatives have signed a bipartisan letter to the White House put forth by Representatives Mark Pocan (D-WI) and Justin Amash (R-MI), demanding that Trump seek Congressional approval before a potentially disastrous escalation of US hostilities in Yemen. The letter states:
The United States has participated in Saudi-led airstrikes that have been blamed for most of Yemen’s 10,000 civilian deaths, creating a security vacuum that Al Qaeda has exploited to expand its base of operations. We therefore urge you to terminate US refueling for Saudi coalition warplanes and end, rather than increase, U.S. logistical assistance for the Saudi-led bombings in Yemen. At minimum, any decision by the administration to engage in direct U.S. hostilities against Yemen’s Houthis must be subject to a congressional debate and vote, as the framers of the Constitution intended and the 1973 War Powers Resolution demands.
One might ask, why should the Trump administration care what members of Congress think about its military intervention in Yemen? The answer is that Trump administration officials, as well as Republican Congressional leaders, are reported to be divided as to whether to pursue this escalation.
This is clearly a war of choice, with no legal footing, and where many things can go wrong.
Republican Senator Bob Corker, the influential Chair of the Senate Foreign Relations Committee, made it clear that he doesn’t believe the Authorization for the Use of Military Force that Congress passed in 2001 to counter al-Qaeda would apply to Yemen’s Houthis.
The Trump administration has to choose its battles, and this is clearly a war of choice, with no legal footing, and where many things can go wrong. If it looks like the White House is going to have a continual and possibly escalating fight with Congress—which could spill over into the media – the forces within the administration that oppose further involvement may prevail.
It’s not like repealing Obamacare – defeated for now ― which was a Trump campaign promise. In fact, it’s the opposite: Trump campaigned on a pledge not to get involved in wars other than fighting terrorism. But in this war, Al Qaeda is effectively on the side of the Saudis, whereas the Houthis – who are Shia Muslims – are fighting against Al Qaeda. (Some people still remember that Al Qaeda was behind the attacks that killed 3,000 Americans on 9/11). U.S. support that is essential to Saudi Arabia’s prosecution of this war – through weapons transfers, mid-flight refueling for bombing raids, and targeting and logistical assistance – is not easy to defend in public, if the White House were forced to defend it, especially when it is starving ordinary Yemenis and radicalizing them against the United States.
If you have never called your representative in Congress to ask them to sign a letter, now would be a good time to do it. You could help save hundreds of thousands of people from starvation.
Mark Weisbrot is Co-Director of the Center for Economic and Policy Research in Washington, DC, and the president of Just Foreign Policy. He is also the author of the book “Failed: What the ‘Experts’ Got Wrong About the Global Economy” (2015, Oxford University Press). You can subscribe to his columns here.
-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website. Reported by Huffington Post 21 hours ago.
He was referring to a Saudi-led military intervention in Yemen, which now puts millions of people at risk of death from famine.
As the new administration approaches its first 100 days, Americans who care about the future of their country have understandably been preoccupied with the humanitarian consequences of Trump’s rule at home. These are things that affect us the most – with “us” including immigrants who live here. Health insurance, the environment, education, climate change, taxation and the budget – big battles have been joined, some have been won, and there are many more ahead.
But there are moments when we can help save millions of lives by taking a break from our daily struggles to prevent terrible damage that our government is about to do to people thousands of miles away. This is one of those moments.
The White House is reported to be deciding this week whether to support a planned attack on the port of Hodeida, in Yemen, by a Saudi-led coalition supporting the deposed government there in its two-year old war with Houthi rebels, who now control most of Yemen’s population centers.
This is a port where almost 80 percent of the country’s food enters – Yemen is overwhelmingly dependent on food imports, and was already the poorest country in the region prior to the U.S.-backed Saudi war. The UN reports that 3.3 million people, including 2.1 million children are already acutely malnourished. Hundreds of thousands of children could die if this port is further destroyed in the bombing that will likely ensue if our government gives the green light and direct assistance in the operation.
Here in Washington, dozens of members of the House of Representatives have signed a bipartisan letter to the White House put forth by Representatives Mark Pocan (D-WI) and Justin Amash (R-MI), demanding that Trump seek Congressional approval before a potentially disastrous escalation of US hostilities in Yemen. The letter states:
The United States has participated in Saudi-led airstrikes that have been blamed for most of Yemen’s 10,000 civilian deaths, creating a security vacuum that Al Qaeda has exploited to expand its base of operations. We therefore urge you to terminate US refueling for Saudi coalition warplanes and end, rather than increase, U.S. logistical assistance for the Saudi-led bombings in Yemen. At minimum, any decision by the administration to engage in direct U.S. hostilities against Yemen’s Houthis must be subject to a congressional debate and vote, as the framers of the Constitution intended and the 1973 War Powers Resolution demands.
One might ask, why should the Trump administration care what members of Congress think about its military intervention in Yemen? The answer is that Trump administration officials, as well as Republican Congressional leaders, are reported to be divided as to whether to pursue this escalation.
This is clearly a war of choice, with no legal footing, and where many things can go wrong.
Republican Senator Bob Corker, the influential Chair of the Senate Foreign Relations Committee, made it clear that he doesn’t believe the Authorization for the Use of Military Force that Congress passed in 2001 to counter al-Qaeda would apply to Yemen’s Houthis.
The Trump administration has to choose its battles, and this is clearly a war of choice, with no legal footing, and where many things can go wrong. If it looks like the White House is going to have a continual and possibly escalating fight with Congress—which could spill over into the media – the forces within the administration that oppose further involvement may prevail.
It’s not like repealing Obamacare – defeated for now ― which was a Trump campaign promise. In fact, it’s the opposite: Trump campaigned on a pledge not to get involved in wars other than fighting terrorism. But in this war, Al Qaeda is effectively on the side of the Saudis, whereas the Houthis – who are Shia Muslims – are fighting against Al Qaeda. (Some people still remember that Al Qaeda was behind the attacks that killed 3,000 Americans on 9/11). U.S. support that is essential to Saudi Arabia’s prosecution of this war – through weapons transfers, mid-flight refueling for bombing raids, and targeting and logistical assistance – is not easy to defend in public, if the White House were forced to defend it, especially when it is starving ordinary Yemenis and radicalizing them against the United States.
If you have never called your representative in Congress to ask them to sign a letter, now would be a good time to do it. You could help save hundreds of thousands of people from starvation.
Mark Weisbrot is Co-Director of the Center for Economic and Policy Research in Washington, DC, and the president of Just Foreign Policy. He is also the author of the book “Failed: What the ‘Experts’ Got Wrong About the Global Economy” (2015, Oxford University Press). You can subscribe to his columns here.
-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website. Reported by Huffington Post 21 hours ago.
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How Humana will be affected by a Medicare payment increase
Health insurers that provide Medicare Advantage plans will be seeing a slight uptick in payment from the federal government in 2018. Earlier this week, the Centers for Medicare and Medicaid Services — the federal agency that regulates tax-subsidized health insurance for the poor, elder or disabled — announced in a news release that it would be increasing payment to companies that administer Medicare Advantage plans by an average 0.45 percent in 2018, though individual company's rates may vary…
Reported by bizjournals 20 hours ago.
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One of the nation's biggest health insurers is ditching Iowa's Obamacare exchanges
Health insurance giant Aetna is pulling out of the Affordable Care Act individual insurance exchanges in Iowa, the company announced Thursday.The move comes after Wellmark, another large player in Iowa's ACA markets, said Tuesday it would also leave Iowa's exchanges.
Based on the current offerings, after the exits five Iowa counties will have two insurers left and the other 99 will have only one: Medica.
Aetna said the decision was due to uncertainty surrounding the future of the ACA, also known as Obamacare, and financial losses the company was taking.
"Earlier today we informed the appropriate federal and state regulators that Aetna will not participate in the Iowa individual public exchange for 2018 as a result of financial risk and an uncertain outlook for the marketplace," said Aetna spokesman TJ Crawford, who added the insurer was also evaluating all of their individual insurance offerings.
Iowa Insurance Commissioner Doug Ommen pinned the blame on the ACA itself.
“We're deeply troubled by the angst and concern the Affordable Care Act is causing in Iowa," Ommen said in a statement. "This is a problem created by the Affordable Care Act and needs to be fixed by Congress."
The uncertainty comes as President Donald Trump and Republicans have begun attempting to repeal the ACA and the Department of Health and Human Services has said it will do anything it can to offer "relief" from Obamacare.
Aetna also announced in August 2016 that it was pulling out of roughly 70% of the markets where it offered Obamacare plans in part due to financial losses. The company also left those exchanges partly because of the failure of its proposed merger with rival Humana.
*SEE ALSO: Republicans are making one last healthcare push as Trump's administration is getting frustrated with the mess*
Join the conversation about this story »
NOW WATCH: 7 mega-billionaires who made a fortune last year Reported by Business Insider 21 hours ago.
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STOCKS CLOSE FLAT: Here's what you need to know
The major indexes slipped from the highs of the session as investors get ready for the March jobs report on Friday. They're also on alert for any news from Mar-a-Lago, as Chinese President Xi Jinping meets with President Donald Trump.Here's the scoreboard:
· Dow: 20,670.57 +22.42 (0.11%)
· S&P 500: 2,356.34 +3.39 (0.14%)
· Nasdaq: 5,869.58 +5.10 (0.09%)
1. Larry Fink, the chief executive at BlackRock, which with $5.1 trillion is the world's largest investor, thinks US stocks are overvalued. "We don't have the tax reform that we're expecting," Fink told CNBC. "If we don't see a true deregulation, I think the markets would have some setbacks there."
2. Twitter shares slid following a report that cofounder and board member Evan Williams plans to sell up to 30% of his shares. "After a year and a half of no selling, I have filed a new 10b5–1 plan to liquidate a minority of my TWTR over the next year," Williams wrote in a blog post on Medium after Business Insider inquired about the sale.
3. Health insurance giant Aetna is pulling out of the Affordable Care Act individual insurance exchanges in Iowa. Aetna said the decision was due to uncertainty surrounding the future of the ACA, also known as Obamacare, and financial losses the company was taking.
4. Initial jobless claims, which count the number of people who applied for unemployment insurance for the first time in the past week, fell by 25,000 to 234,000. The four-week moving average was 250,000, a decrease of 4,500 from the previous week's revised number.
5. Republicans are making one final effort to move forward with their plan to reform the US healthcare system before Congress goes on a two-week break. The House Rules Committee will consider an amendment to the American Health Care Act to fund high-risk pools in states in an attempt to show progress on the GOP's plan to repeal and replace Obamacare before the House begins a two-week recess on Friday.
Additionally:
Here's your full preview of Friday's jobs report
LARRY FINK: China is a 'currency manipulator, but the opposite'
Goldman Sachs says companies like Goldman Sachs are the most undervalued in the market
Trump's top economic adviser, a former Goldman Sachs executive, told senators he's in favor of a rule that would radically transform Wall Street
Apple's profits would jump by 16% under President Trump's proposed tax reforms, Citi says
There are 3 ways Trump's meeting with China's president could go — boring, bad, and really bad
Join the conversation about this story »
NOW WATCH: 7 mega-billionaires who made a fortune last year Reported by Business Insider 19 hours ago.
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Philadelphia-area CEO: Educate your employees about health insurance
The sudden death of the legislation to repeal the Affordable Care Act (ACA) was yet another twist in the long and winding road of healthcare reform. The insurance industry, business and medical communities, the media and insurance consumers are all asking “What’s next for healthcare in America?” How far will President Trump and Republicans go to dismantle the ACA through administrative and legal actions? Will there ever be a bipartisan effort to fix the parts of the ACA that don’t work well?…
Reported by bizjournals 19 hours ago.
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Americans' Self-Contradictory Views Of Socialized Healthcare
Authored by Eric Zuesse via The Strategic Culture Foundation,Majorities want single-payer, *but not from the government*
*58 % of Americans want «Replacing the ACA with a federally funded healthcare program providing insurance for all Americans».* Only 37% oppose it. A tiny 5% have no opinion. That’s from a Gallup poll published 16 May 2016, «Majority in U.S. Support Idea of Fed-Funded Healthcare System».
*However, on 20 November 2014, Gallup headlined «Majority Say Not Gov't Duty to Provide Healthcare for All» *and reported that, «For the third consecutive year, a majority of Americans (52%) agree with the position that it is not the federal government's responsibility to ensure that all Americans have healthcare coverage. Prior to the start of Barack Obama's presidency in 2009, a majority of Americans consistently took the opposite view». *But if it’s «not the federal government's responsibility to ensure that all Americans have healthcare coverage» (presumably meaning for all basic healthcare but not for vanity medical services such as «tucks» and other non-health-related medical services), then «a federally funded healthcare program providing insurance for all Americans» makes no real sense at all.*
*Is it likely that majorities really do want single-payer, but not from the government?* Hardly: a gratuitous addition of stockholders’ profits into the costs for providing essential and economic-productivity-enhancing healthcare services that everyone should have access to if it’s really needed (lawfully prescribed etc.) will not only distort the incentives to medical-services providers (and so reduce both health and economic productivity), but will also waste the money of medical consumers (government or otherwise). But what about having ‘non-profit’ firms provide the single-payer services? That cuts out profits, and so eliminates the distortions that stockholders’ wants will introduce into the providing of any services (wants such as stockbrokers have, who pump the investments that pay them the highest commissions, which necessarily harms their investors). However, the top executives even of ‘non-profit’ firms can pay themselves whatever their friends who sit on their board of trustees will approve; and so a ‘non-profit’ too can be, at least to that extent, a scam. (And, of course, in an entirely free market, there is no regulation and therefore scams will be routine; so, only crooks would want that, anyway.)
*These are the reasons why the countries that have the highest life-expectancies, and therefore the best health-outcomes, are the same as the countries that have socialized basic healthcare services, paid for normally entirely through taxes and provided to all citizens as a basic human right instead of as a privilege that’s available only to individuals who can afford it.* (Of course, «tucks» and such get charged extra to the patient.) The United States has by far the costliest health care in terms of not only what Americans pay for it but in terms of healthcare costs as a percentage of GDP, and yet the U.S. has the lowest life-expectancy of all OECD countries; the U.S. has the most-free-market healthcare, and also the worst healthcare, among all of the economically developed countries — all (except the U.S.) of which provide guaranteed basic healthcare services to all citizens: essential services free as a right, not charged as a privilege.
*America’s combination of the worst healthcare plus the by-far-costliest healthcare is no coincidence; and healthcare profits in America are the world’s highest, so, the present American system is terrific for those stockholders (whose firms hire the lobbyists and their politicians who write America’s healthcare-laws).* Because basic healthcare in the United States is a privilege instead of a right, the U.S. is the only economically developed nation that does not have universal coverage, health insurance for 100% of its citizenry, healthcare as a guaranteed right instead of dependent upon the patient’s ability-to-pay. When Barack Obama entered the White House, the uninsured rate was 14.6%; when he left office it was 10.9%; the insured rate when he started was 85.4%, and it was 89.1% when he left office. His repeated promises of «universal coverage» were lies. His plan was in no way designed for «universal coverage»; that promise was just a lie.
In the OECD’s «Health at a Glance 2015» (which is their latest version of that, and covers actually 44 nations), *the United States scores at or near the bottom for almost all indicators of healthcare-quality, including: Life expectancy, Access to care, Quality of care, Doctors per capita, and Hospital beds per capita.* We are by far the highest on Pharmaceutical expenditure per capita. Oddly, three nations, Czech Republic, Slovakia, and Hungary, are exceptionally high in both their heart-disease death-rates and their cancer death-rates; plus their life-expectancies are even lower than America’s, and their most carefully medically calculated measured «Quality of care» rankings are also generally as bad as the United States. However, in the latest calculated year, which is shown there, which was 2013, «Health expenditure per capita» (p. 165) was U.S. $8,713; Czech Republic $2,040, Slovak Republic $2,010; and Hungary $1,719.
*So, America’s was over four times as high as the healthcare costs of other countries in its class — i.e. in the overall worst class. *Generally the top-performing nations were: Japan, Finland, Norway, Sweden, Italy, and Switzerland. Switzerland was the second-highest in cost-of-care, $6,325, right below the U.S. Norway was third-costliest, $5,862. Sweden fifth-costliest, $4,904. Japan 14th-costliest, $3,713. Finland 17th-costliest, $3,442. Italy twentieth-costliest, $3,077. The average OECD cost for all the 44 nations was $3,453. Whether Obamacare would change any of those U.S. rankings is too early to tell. However, the U.S. is such an extreme «outlier» so that our healthcare system would need to be replaced root-and-branch in order to be competitive with any other nation’s in terms of delivering value-for-the-money, instead of rip-off (which is its existing outlier status — unparalleled by any other country’s, for delivering lousy value).
*It is so bottom-of-the-barrel, that it is below the barrel.* This is by far the world’s most-free-market healthcare system, but our government spends more per-capita on it than do other nations’ governments that pay almost all of their citizens’ healthcare costs. In fact, as shown in the chart «9.3. Health expenditure as a share of GDP, 2013 (or nearest year)» on page 167 of that OECD report, the U.S. is the only country where the private sector pays more of the nation’s healthcare costs than does the public sector, the government.
No other nation comes *anywhere close to that degree of non-governmental providing of the healthcare function. Every other nation has socialized the healthcare-function to a vastly higher extent than the U.S. has. That’s how corrupt America is:* history, the data, are still ignored here, even when every other nation accepts those realities and has long-since implemented them in national policies.
Lots of other countries are more corrupt in the pettier forms of corruption such as bribery, *but perhaps few match America’s higher-level, and far more complex, systemic corruption.* Reported by Zero Hedge 17 hours ago.
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United States: Insurers' Antitrust Exemption in Crosshairs Again as Part of Potential Health Care Overhaul - Sedgwick LLP
Just when you thought the health insurance legal and regulatory landscape couldn't get any more interesting, along comes the Competitive Health Insurance Reform Act of 2017 (the Act).
Reported by Mondaq 7 hours ago.
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New Medicare Advantage Enrollment Data
Data Decisions Group Releases Tableau Dashboard of Medicare Advantage Enrollment Data Post-AEP Data Shows Providers and States that Gained and Lost Medicare Members
Dallas, TX (PRWEB) April 07, 2017
Data Decisions Group, LLC announced the release of its Tableau Dashboard of Medicare Enrollment Data, which is based on the latest data from the Centers for Medicare & Medicaid Services (CMS) within the U.S. Department of Health and Human Services (HHS). This data is used by health insurance providers to better understand where they gained and lost members and which competitors are taking share from them.
Key Findings
The data shows that from October 15, 2016 to December 7, 2016 there were 916,186 new Medicare Advantage enrollees. The three providers with the largest net increase in Medicare Advantage enrollees were United Healthcare Providers (+389,749), Sierra Health and Life Insurance (a division of UHC) (+362,991) and Humana Providers (+84,105). The three providers with the largest net decrease in Medicare Advantage enrollees were Care Improvement Plus (-171,406), Healthspring (-37,086) and Independent Health Association (-23,516). Among the states, Alabama saw the greatest net increase (+96,704) while Idaho suffered the largest decrease (-1,521). Additional summary data is available in this blog post.
Complimentary Data Downloads
The complete Tableau Dashboard of Medicare Advantage enrollment data for providers and states is available by clicking here. Complimentary county-level data for each provider is available here upon request.
Medicare Expert Insights
“The competition for new Medicare Advantage members is always intense,” said David Schneider, Executive Vice President at Data Decisions Group. “Unfortunately, many providers lack a clear understanding of where they gained/lost members, which competitors hurt them the most, and what they need to do to improve their results during the next AEP.” According to Schneider, a recognized leader in data-driven marketing for health insurance providers, there are several key factors that determine how a health insurance carrier will perform in the Medicare Advantage market. “I consistently see the following factors contributing to marketing success (or failure):”· Product features and price points
· Prospect data and target lists
· Single view marketing database
· Creative and messaging driven by analytics
· Multiple marketing channels, including direct mail and Facebook
Mike Hail, CEO of Data Decisions Group added, “We provide this complimentary data each year in a user-friendly and visual format to help guide the strategies and investments of health insurance providers.” Hail continued, “Each year, the carriers that lost ground must take a hard look at their Medicare Advantage products.”
They must:
· Conduct market research including the use of conjoint analysis to optimize their products design/price.
· Improve their prospect data and lists, their analytics, their marketing databases, their campaigns, and their use of traditional and emerging marketing channels.
”Each marketing action can have a profound impact on Medicare Advantage enrollment growth (or decline). Even the big winners have to step up their Medicare Advantage AEP efforts. October 15, 2017 will be here soon and many providers are making new marketing investments to regain share.”
About Data Decisions Group
Data Decisions Group provides data, insight, and action services that enable a consumer-first approach to direct marketing across all channels (offline, online, mobile, digital and social). The result is greater consumer engagement and optimal marketing ROI. Our core services include data hygiene, consumer data enhancement and appending, consumer lists, predictive analytics, marketing research, marketing databases, custom audiences across all social and digital channels, and omnichannel campaign management. Data Decisions Group has a dedicated practice for data-driven marketing within the health insurance industry.
Contact
Data Decisions Group, LLC
Whitney Hamilton, Marketing Communications
(469) 804-3689
whitney.hamilton(at)datadecisionsgroup.com Reported by PRWeb 2 hours ago.
Dallas, TX (PRWEB) April 07, 2017
Data Decisions Group, LLC announced the release of its Tableau Dashboard of Medicare Enrollment Data, which is based on the latest data from the Centers for Medicare & Medicaid Services (CMS) within the U.S. Department of Health and Human Services (HHS). This data is used by health insurance providers to better understand where they gained and lost members and which competitors are taking share from them.
Key Findings
The data shows that from October 15, 2016 to December 7, 2016 there were 916,186 new Medicare Advantage enrollees. The three providers with the largest net increase in Medicare Advantage enrollees were United Healthcare Providers (+389,749), Sierra Health and Life Insurance (a division of UHC) (+362,991) and Humana Providers (+84,105). The three providers with the largest net decrease in Medicare Advantage enrollees were Care Improvement Plus (-171,406), Healthspring (-37,086) and Independent Health Association (-23,516). Among the states, Alabama saw the greatest net increase (+96,704) while Idaho suffered the largest decrease (-1,521). Additional summary data is available in this blog post.
Complimentary Data Downloads
The complete Tableau Dashboard of Medicare Advantage enrollment data for providers and states is available by clicking here. Complimentary county-level data for each provider is available here upon request.
Medicare Expert Insights
“The competition for new Medicare Advantage members is always intense,” said David Schneider, Executive Vice President at Data Decisions Group. “Unfortunately, many providers lack a clear understanding of where they gained/lost members, which competitors hurt them the most, and what they need to do to improve their results during the next AEP.” According to Schneider, a recognized leader in data-driven marketing for health insurance providers, there are several key factors that determine how a health insurance carrier will perform in the Medicare Advantage market. “I consistently see the following factors contributing to marketing success (or failure):”· Product features and price points
· Prospect data and target lists
· Single view marketing database
· Creative and messaging driven by analytics
· Multiple marketing channels, including direct mail and Facebook
Mike Hail, CEO of Data Decisions Group added, “We provide this complimentary data each year in a user-friendly and visual format to help guide the strategies and investments of health insurance providers.” Hail continued, “Each year, the carriers that lost ground must take a hard look at their Medicare Advantage products.”
They must:
· Conduct market research including the use of conjoint analysis to optimize their products design/price.
· Improve their prospect data and lists, their analytics, their marketing databases, their campaigns, and their use of traditional and emerging marketing channels.
”Each marketing action can have a profound impact on Medicare Advantage enrollment growth (or decline). Even the big winners have to step up their Medicare Advantage AEP efforts. October 15, 2017 will be here soon and many providers are making new marketing investments to regain share.”
About Data Decisions Group
Data Decisions Group provides data, insight, and action services that enable a consumer-first approach to direct marketing across all channels (offline, online, mobile, digital and social). The result is greater consumer engagement and optimal marketing ROI. Our core services include data hygiene, consumer data enhancement and appending, consumer lists, predictive analytics, marketing research, marketing databases, custom audiences across all social and digital channels, and omnichannel campaign management. Data Decisions Group has a dedicated practice for data-driven marketing within the health insurance industry.
Contact
Data Decisions Group, LLC
Whitney Hamilton, Marketing Communications
(469) 804-3689
whitney.hamilton(at)datadecisionsgroup.com Reported by PRWeb 2 hours ago.
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A.M. Best Affirms Credit Ratings of Unum Group and Its Core U.S. Subsidiaries; Upgrades Credit Ratings of Unum Insurance Company
OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” of the core U.S. life/health insurance subsidiaries of Unum Group (Unum) (headquartered in Chattanooga, TN) (NYSE:UNM). Additionally, A.M. Best has upgraded the FSR to A- (Excellent) from B++ (Good) and the Long-Term ICR to “a-” from “bbb” of Unum Insurance Company (Unum Insurance) (Portland, ME). A.M. Best also has affirmed t
Reported by Business Wire 22 minutes ago.
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Aditya Birla Health Insurance launches #JumpForHealth
Reported by TopNews 2 hours ago.
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Amendment Sets Aside Billions to Subsidize High-Risk Patients
Members of the House Rules Committee stayed behind after other lawmakers left for their two week recess to devise an amendment that sets aside $15 billion to allow states to reimburse health insurance companies for covering their more-ill customers.
Reported by Newsmax 20 hours ago.
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Religare to exit Religare Health Insurance for Rs 1,040 cr
Religare Enterprises will sell its entire 80 per cent stake in Religare Health Insurance to a consortium of investors led by private equity fund True North Managers for an estimated Rs 1,040 crore.
Reported by DNA 3 hours ago.
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Indian private equity firm to acquire Religare Health Insurance
NEW DELHI (Reuters) - A consortium of investors led by Indian private equity fund True North has agreed to acquire Religare Enterprises Ltd's health insurance business in the country, the groups said in a joint statement on Sunday.
Reported by Reuters India 2 hours ago.
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Government Shutdown Odds Are Rising, Goldman Warns
Having been quite confident that Trump would be able to pass some form of Tax reform as recently as two weeks ago, Goldman's Washington analyst, Alec Phillips, is turning increasingly more pessimistic on the prospects that Trump's economic agenda will gain traction in Congress, especially now that attention has seemingly shifted to Trump's bombing policies in Syria (and perhaps North Korea in the not too distant future).In a note over the weekend, the Goldman strategist writes that "following the failure to pass the American Health Care Act (AHCA), which would repeal the Medicaid expansion and tax hikes enacted in the Affordable Care Act (ACA) and reduce the tax subsidies for health insurance under that law, *Republican leaders in the House have struggled to develop an alternative health proposal that might find enough support to pass*. At this point, it still appears possible that the House could pass a revised version of the bill at some point in May. However*, the compromises that might be made in the House to gain support are apt to reduce support in the Senate, and the process in that chamber would take much longer than even the drawn out House process, in our view*."
He also observes that lawmakers and market participants have refocused their attention on tax reform, "though a number of other issues are likely to delay activity on tax legislation for another several weeks." This includes another potential attempt to pass health legislation, the possibility of a government shutdown, a debt limit deadline later this year, and geopolitical developments.
Which brings us to the key topc: the prospect of a government shutdown in less than three weeks. This is what Phillips says when discussing the risks of a government shutdown on April 29.
*Congressional appropriations expire April 28. If Congress does not pass an extension, the federal government will partially shut down. *The economic consequences of a short shutdown are minor, since lost federal pay is usually made up retroactively and government procurement and private sector activity would be largely unaffected.
However, a shutdown would send another signal to markets that Republicans may not be able to enact their agenda, lowering expectations for tax reform and an infrastructure program.
We believe Congress is more likely to meet the deadline, *but see a one in three chance of a shutdown. *
The “freedom caucus” in the House may be unwilling to vote for a spending bill, denying Republicans a majority without Democratic votes. However, Democrats might be unwilling to provide those votes as they often have in the past, in light of the decision to change Senate rules to confirm Neil Gorsuch to the Supreme Court over Democratic opposition.
That said, *there is not yet a clear issue Democrats are likely to point to in defense of a shutdown, *as Republicans did in the 2013 shutdown when they demanded that Obamacare be defunded.* If such an issue emerges—Republican leaders have already indicated they plan to keep funding for the border wall out of the bill to avoid such an issue—then the odds of a shutdown would rise considerably. *
Amusingly, Goldman observes that Trump's escalation of the Syrian conflict may actually be a positive factor, reducing the odds of a shutdown.
We also note that a shutdown might be slightly less likely in light of the conflict with Syria, *since a failure to extend spending authority would affect the Department of Defense in addition to domestic agencies, and some lawmakers might support the spending bill for that reason*.
So now that even Goldman admits that the odds of a government shutdown are rising (two weeks ago Deutsche Bank calculated that government shutdown odds had risen to a roughly similar 40%), here is what readers "need to know" about the threat of a potential government shutdown according to Bloomberg:
· As Congress works to fund the government for the second half of FY2017, investors are weighing the possibility of a partial government shutdown if lawmakers fail to reach an agreement by April 28.
· President Trump has asked for about $30b in emergency spending for defense, along with $18b in cuts to non-defense spending
· Oklahoma Rep. Tom Cole said appropriations will ignore the $18b in cuts as they negotiate the omnibus bill and a supplemental
· Gridlock in Washington could slow pro-business reforms so much that markets would “effectively price them out,” BMO strategists Ian Lyngen and Aaron Kohli wrote March 28; they said a government shutdown would be bullish for USTs, risk- off assets
*HOW LONG DOES CONGRESS HAVE TO COME TO A DEAL? *
· The second continuing resolution for the FY2017 budget expires April 28; Congress needs to pass a spending bill or continuing resolution (CR) to fund the government for the second half of the FY
· Congress passed the first CR Sept. 28, which extended funding at previous year’s levels through Dec. 9. *Congress is in recess starting this week and returns the week of April 24, leaving just 4 days to cobble a deal.*
*WHAT HAPPENS IF THEY DON’T? *
· A (partial) government shutdown along lines of 2013; federal government workers are furloughed if their agency is part of the annual appropriations process, according to the U.S. Office of Personnel Management
· During the 2013 shutdown, some government economic data releases were postponed and rescheduled
· The October jobs report was delayed until Nov. 8 due to the 16-day impasse in 2013. The report was originally slated for Nov. 1
· The Fed, which isn’t funded via congressional appropriations, released meeting minutes as scheduled during the 2013 shutdown
*WHAT ABOUT THE DEBT CEILING? *
· Debt ceiling is a non-issue; since Treasury reinstated the debt limit on March 15, *it has employed extraordinary measures to extend its borrowing authority through September/October*
· In 2013, *the debt ceiling drop-dead date coincided with the shutdown, which created more uncertainty*
*HOW WILL MARKETS REACT? *
· TD strategists led by Priya Misra suggest a government shutdown may be negative for risk assets *as it’s likely markets would price in lower odds of tax reforms being enacted in 2017*
· In September 2013, equities dropped heading into the shutdown, then rose when a resolution appeared imminent.
· Spending negotiations “may bring continued volatility,” but unlikely to drive UST gains as odds of a shutdown are low, JPMorgan strategists led by Jay Barry said in March 29 note.
· 10Y yields fell by about 37bps to 2.62% in the month leading up to the 2013 shutdown, then rose to 2.73% by Oct. 15.
· Treasury bills may react more to cut in seasonal supply after the tax deadline, not the shutdown, Nomura strategists led by George Goncalves said March 31
· Rates on 1-month securities surged to 0.36%, then the highest levels since the financial crisis. Reported by Zero Hedge 12 minutes ago.
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