The Senate's expected to vote on a health care bill this week, though which bill they will vote on is still unknown. 

They've got three options:

*1)* The Senate's plan to repeal and replace the Affordable Care Act (better known as Obamacare).

*2)* A plan to strictly repeal Obamacare.

*3)* The House of Representative's plan to repeal and replace Obamacare. 

It'll start with a motion to proceed on Tuesday, that will open up 20 hours of debate before the Senate begins to vote.

Here's how Republican Senator Susan Collins put it on Face the Nation on Sunday: 

"It appears that we will have a vote on Tuesday. But we don't whether we're going to be voting on the House bill, the first version of the Senate bill, the second version of the Senate bill, a new version of the Senate bill, or a 2015 bill that would have repealed the Affordable Care Act now, and then said that somehow we will figure out a
replacement over the next two years."

"I don't think that's a good approach to facing the legislation that affects millions of people and one-sixth of
our economy."Here's what you need to know about the bills the Senate could consider. 

*Better Care Reconciliation Act, or repeal and replace (with or without the Cruz amendment)*

On Thursday, Republicans in the Senate just released another update to the Better Care Reconciliation Act, or BCRA, their plan to repeal and replace Obamacare.

This is the effort that ran into trouble last week after Senator John McCain fell ill and some other Republicans declined to go along with the vote.  

The latest draft of this bill includes more funds to tackle the opioid crisis, and a change to allow people to pay for premiums using health savings accounts. The bill also still includes deep cuts to Medicaid, with an estimated $756 billion cuts by 2026 according to the Congressional Budget Office. 

But notably absent is an amendment from Senators Ted Cruz and Mike Lee that critics said could make plans with adequate coverage unaffordable to those who have certain medical conditions.

The amendment titled the "Consumer Freedom Amendment," would have allowed plans to exist that don't comply with two regulations set up under the Affordable Care Act: community rating and essential health benefits. The latter could have had a big impact on people with pre-existing conditions.

*Key parts subject to Byrd rule: *On Friday, the Senate parliamentarian said that major parts of the BCRA would be subject to the Byrd rule, an obscure piece of legislation that requires the bill to have 60 votes in its favor to avoid a filibuster. Any other legislation would simply need 50 votes. Included in the list of provisions subject to the Byrd rule are defunding Planned Parenthood, restricting the use of tax credits for abortions, and getting rid of the essential health benefits for Medicaid in 2020. 

*CBO's conclusion:* The bill, without the Cruz amendment, would leave 22 million more Americans without insurance by 2026 compared with the current law, in line with their estimates for the original bill. That number likely would have been inflated if the CFA was included. The CBO also said the bill would have an unexpected effect on deductibles: they could get so high they're actually more than the poorest Americans earn. The bill would cut $756 billion from Medicaid through 2026. 

*The Obamacare Repeal Reconciliation Act or straight repeal*

Senate Republicans are also mulling over a plan to simply repeal the Affordable Care Act. Titled the Obamacare Repeal Reconciliation Act (ORRA), it is nearly identical to the bill that was vetoed by President Barack Obama in 2015. The bill would repeal all the provisions put in place by the ACA, including key taxes, the Medicaid expansion some states opted into and getting rid of mandates for employers and individuals to provide and have insurance. 

The repeal would begin in 2020.

*CBO's conclusion:  *According to the agency, 17 million fewer Americans would have health insurance in 2018, a number that would grow to 32 million by 2026. By 2026, health insurance premiums are expected to double. Cuts to Medicaid would hit $842 billion by 2026.  

*The American Health Care Act*

There's also still the chance that the Senate could decide to vote on the AHCA, the version of repeal and replace that the House of Representatives passed in May. 

Among other provisions, the bill included a change called the MacArthur amendment which can allow states to avoid some of the regulations. It raised concerns that people with preexisting conditions won't be able to access health insurance if it becomes law.

*CBO's conclusion: *24 million fewer Americans would be insured by 2026, with roughly $880 billion in cuts to Medicaid through 2026. 

*SEE ALSO: There's a 'looming healthcare crisis for the millennial generation' — and it's just getting started*

*DON'T MISS: Americans are facing rising out-of-pocket healthcare costs — here's why*

Join the conversation about this story »

NOW WATCH: JIM ROGERS: The worst crash in our lifetime is coming Reported by Business Insider 5 hours ago.

ELBA, Ala.--(BUSINESS WIRE)--On July 22, 2017, the Board of Directors of The National Security Group, Inc. (NASDAQ: NSEC), declared a quarterly dividend of $0.05 per share. This cash dividend is payable on August 31, 2017, to shareholders of record August 7, 2017. The National Security Group, Inc. (NASDAQ Symbol: NSEC), through its property & casualty and life insurance subsidiaries, offers property, casualty, life, accident and health insurance in ten states. The Company writes primarily p Reported by Business Wire 4 hours ago.

A senior Queensland government employee has been charged with fraud over a $45,000 private health insurance claim. Reported by Brisbane Times 3 hours ago.

The Oregon Nurses Association is calling for “full transparency” from Oregon Secretary of State Dennis Richardson when it comes to the referendum that Rep. Julie Parrish is pursuing. Parrish, a West Linn Republican, is the chief petitioner for Referendum 301, which takes on the recently passed Medicaid budget. She is attempting to gather 59,000 signatures within 90 days so voters can decide whether to OK a 1.5 percent assessment on commercial health insurance premiums and a .7 percent tax on… Reported by bizjournals 2 hours ago.

Stocks ticked up on Wednesday.

All three major indices finished in the green, albeit to varying degrees.

First up, the scoreboard:

· *Dow:* 21,704.22, +90.79, (+0.42%)
· *S&P 500:* 2,477.59, +0.46, (+0.02%)
· *Nasdaq:* 6,418.80, +6.62, (+0.10%)
· *US 10-year yield:* 2.282%, -0.044
· *WTI Crude:* $48.73, +0.84, +1.75%

1. The Fed says the unwind of its $4.5 trillion balance sheet will start "relatively soon." The Fed also left its benchmark interest rate unchanged and planned to start shrinking its balance sheet "relatively soon," according to its policy statement released Wednesday.

2. The second-largest health insurance in the US might leave more Obamacare markets in 2018. Anthem Inc said it may leave more individual Obamacare markets due to uncertainty about the potential repeal of the healthcare law and subsidies that make the plans affordable for millions of Americans.

3. Boeing's stock jumped after second quarter earnings smashed expectations. The highlight of the planemaker's report was free cash flow that climbed above $4.5 billion, more than double analyst expectations. And in an effort to sweeten the pot for loyal shareholders, the company used $3.4 billion of that to buy back shares and pay out dividends.

4. Coca-Cola beats, boosted by demand for healthier non-carbonated beverages. Global volume sales of low and no-calorie soda drinks rose in the mid-single digits in the second quarter ended June 30, the company said.

5. Citigroup named David Bailin as the global head of investments for its private banking unit. The group, which generated $2.9 billion in revenue over the past 12 months, manages $390 billion in assets for some 10,000 high net worth and ultra-high net worth clients.

6. Facebook traders are bursting with confidence heading into earnings. Options traders are paying the lowest premium in more than a year to guard against a decline in Facebook's stock, relative to bets on a gain, according to data compiled by Bloomberg.

*ADDITIONALLY:*

The Fed has become the dollar's biggest problem, argues Deutsche Bank.

AMD: Cryptocurrency mining won't be a "long-term growth driver."

The Fed isn't going to raise interest rates again until Christmas — at the earliest.

The Democrats' new economic plan exposes the party's existential crisis.

*SEE ALSO: What 25 major world leaders and dictators looked like when they were young*

Join the conversation about this story »

NOW WATCH: An economist explains the key issues that Trump needs to address to boost the economy Reported by Business Insider 1 day ago.

WASHINGTON – Republicans in the Senate fell short again on Wednesday in their effort to end Obamacare, rejecting a measure to repeal large portions of President Barack Obama’s signature law that has provided health insurance to millions of Americans.

But … Reported by Epoch Times 1 day ago.

The nonpartisan Congressional Budget Office (CBO) found that 16 million Americans could lose their health insurance under a version of Senate Republicans' health care bill known as the "skinny repeal," a bill that would repeal only some elements of Obamacare.

The so-called "skinny repeal" is one of several bills being considered in the Senate on Wednesday.

*Here's what 'skinny repeal' would look like:*

· The "skinny repeal" bill would repeal both the individual and employer mandates, which requires individuals to have health insurance, and employers to provide health insurance to employees. If they don't, they face a penalty fee under Obamacare.
· It would also repeal some of the taxes that the ACA put in place — most significantly, a tax on medical-device makers.
· Defund Planned Parenthood
· Repeal Prevention and Public Health Fund
· Repeal Community Health Center Fund

A senior Democratic aide noted that, according to the CBO, the skinny repeal would result in premiums that are roughly 20% higher than they are under the current law, each year.

After the CBO's assessment was revealed Wednesday evening, Senate Minority Leader Chuck Schumer slammed his Republican counterparts on the Senate floor, calling ongoing arguments on the matter a "sham."

"We don't even have a final bill to amend," Schumer said, adding that the process was "never an open and transparent."

Senate Republicans have proposed and wrangled over several versions of health care bills this week in a last-ditch effort to repeal Obamacare, officially known as the Affordable Care Act.

Despite multiple failures and potentially devastating assessments by the CBO, President Donald Trump has pushed his Republican allies to put together a bill he can sign.

Join the conversation about this story »

NOW WATCH: 'I'll ask it one more time': Kellyanne Conway won't say whether Trump thinks climate change is a hoax Reported by Business Insider 1 day ago.

- Globally mobile individuals perceive themselves as worse-off than individuals who reside in their home country and have not taken overseas assignments

- Family time and support are major concerns

- Many worry about the financial consequence and availability of medical care in the event of major illness -- 40 percent have no company medical benefits at all

HONG KONG, July 27, 2017 /PRNewswire/ -- Cigna Corporation (NYSE:CI) released today the results of its 2017 Cigna 360 degree Well-being Survey - Globally Mobile Individuals. The findings reveal that people working overseas generally perceive themselves as worse-off compared to individuals who reside in their home country and have not taken overseas assignments, when it comes to their physical, social, family and even financial well-being.

Overall, the well-being index score for globally mobile individuals is 61.5 points, which is 1.8 points lower than their domestic counterparts. The most significant gap is in family well-being, which is 9.4 points lower.

"The results show that globally mobile individuals are more concerned than the general working population about their own health and well-being, and that of their families," said Jason Sadler, President, Cigna International Markets. "Without exception, this group is worried about the consequences of personal or family member illness; an issue compounded by a gap in health benefits provided by their employers. Cigna has a long history of supporting globally mobile individuals. We conduct this research to help us continually improve the range of health benefits and wellness solutions we offer them around the world."

This survey follows the publication of the 2017 Cigna 360 degree Well-being Survey in April, which looked at five underlying trends that affect the health, well-being and sense of security of people around the world. In this study, Cigna examined the perceptions of globally mobile individuals living and working in 20 markets about their outlook on the same trends - physical, financial, social, family and work health.

*The bright side of being globally mobile*

International exposure is a significant draw to working overseas. Globally mobile individuals highlighted the opportunity to accumulate wealth, better career prospects, good working hours and positive relationships with co-workers as bright aspects of their experience.

*But there are also challenges*

While individuals have the opportunity to accumulate wealth while working overseas, only a third of respondents considered their current financial situation satisfactory. Lack of time spent with their family and their children's education are other concerns; exacerbated by not having a family support network around them.

Globally mobile individuals often experience anxiety and all respondents are concerned about illness. Cancer and accidents are their main worries, followed by mental illness, such as depression. Twenty-five percent of globally mobile individuals raised concerns about diseases associated with alcohol; significantly more so than the general working population.

*Safety concerns and long-distance loneliness *

Globally mobile individuals feel the world looks less secure due to political turmoil and other macro-economic factors. One-third of respondents feel less safe than they did 24 months ago. This sense of insecurity was highest in the U.S., with 42 percent of respondents feeling less safe, and in Africa, where 31 percent have an issue with their safety.

Many respondents also report having problems socialising outside of work. One-fifth suffer from loneliness, which increases to nearly one quarter for those who are single or live alone.

*Minding the gap*

A significant gap in health insurance coverage may contribute to elevated levels of concern.

"The survey shows health benefits are a very important factor when deciding to take an overseas posting," said Mr. Sadler. "Despite this, there is a significant gap. A surprising 40 percent of respondents do not have any medical benefits offered by their company, and 15 percent have no health coverage at all.

"There is a clear need for employers to pay attention to the health and well-being of their globally mobile employees. This duty of care should extend outside of the office when employers are interacting with their families and the local community."

*Media contacts*

Sabrina Cheung

Gareth Ingham

Head of Business Communications

Associate Director, Business Communications

Cigna International Markets

Cigna International Markets

sabrina.cheung@cigna.com  

gareth.ingham@Cigna.com

Tel: +852 2297 5178

Tel: +852 2297 5184

*About the Research*

A total of 2,003 online interviews were conducted with globally mobile individuals aged 25-59 who are working in markets outside of their birthplace across 20 markets in Asia Pacific, Europe, Middle East, Africa and the United States.

*About Cigna*

Cigna Corporation (NYSE:CI) is a global health service company dedicated to helping people improve their health, well-being and sense of security. All products and services are provided exclusively by or through operating subsidiaries of Cigna Corporation, including Connecticut General Life Insurance Company, Cigna Health and Life Insurance Company, Life Insurance Company of North America and Cigna Life Insurance Company of New York. Such products and services include an integrated suite of health services, such as medical, dental, behavioral health, pharmacy, vision, supplemental benefits, and other related products including group life, accident and disability insurance. Cigna maintains sales capability in 30 countries and jurisdictions, and has more than 95 million customer relationships throughout the world. Reported by PR Newswire Asia 23 hours ago.

The rates that a New Orleans health provider negotiated with three health insurance companies reveals how much prices vary for identical procedures. Reported by nola.com 22 hours ago.

By Irwin M. Stelzer*

We are witnessing two absurdities: conservatives who believe that their traditional mantra of smaller government remains relevant in today’s world, and progressives who believe that it makes sense to double down on the policies that create the gravest threat to our systems of economic and political management since the Roosevelt (not really a) revolution saved both during the Great Depression and the run-up to World War II.

Making policy, economic and foreign, becomes a nonsense when the process ignores the context in which policy is made. It is rather like that old joke about travelers stranded on a desert island with only some canned food that has washed ashore. To open the cans, the economist among them advises, let’s assume that we have a can-opener. About as useful as what our political class is suggesting.

We are living in an economy that is growing, but only slowly. An economy in which the unequal distribution of income and wealth is increasing, the already-rich managerial and financial class is getting richer with the help of compensation systems that reward, er, well lots of things that inexplicably often count for more than performance. In which hedge fund managers and venture capitalists benefit from tax advantages that the middle class can only dream of, and corporate profits claim a record share of our national income. In which the central bank has set monetary policy to inflate the value of assets, exacerbating the difference between those who own homes and financial assets, and those who do not. In which workers are being displaced by imports from low-wage countries that subsidize their manufacturers with cheap credit, and by illegal immigrants who drive down wages in sanctuary cities and states that have decided to revert to policies of the Old Confederacy and interpose their wills between the federal government and the people. In which the medical needs of an aging population are increasing and in which young people see little virtue in capitalism and prefer the rantings of an aging socialist who promises free tuition, government health care and other free lunches, free lunches of the sort that welfare beneficiaries who manufacture electric cars for millionaires enjoy, with extra courses (tax breaks) thrown in. In which the federal deficit is pushing the national debt into dangerous, growth-stifling territory.

Disagree with one or two of the items on this list if you will. But try to create an alternative sketch of the economy and I am betting you will fail, just as you will fail if you try to sketch a picture of the world in which we live that is not beyond dangerous: a North Korean dictator we dismiss as mad but who has made the quite sensible decision that he does not want to follow in the path of Muammar Gaddafi, who gave up his nuclear weapons, or of Saddam Hussein, who really did not have weapons of mass destruction—both of them dead, and neither likely resting in peace. And terrorists, many of them home-grown, who are losing territory but not their followings.

In response to this world-as-we-find-it, our political class is offering the equivalent of that economist’s can-opener. The Democrats are concentrating on what the Russians and the Trumpkins did or didn’t do in the last campaign; how they might impeach the President or have him declared non compos mentis; who should have use of which toilets; a variety of gender issues of interest in Nancy Pelosi’s San Francisco; and on holding national defense budgets hostage to their desire to expand the welfare state.

Meanwhile, Republicans have formed a circular firing squad and are blasting away. At a time when income inequality is already on the rise they have culminated seven years of hard thought about health care with a plan that is tilted against the poor. And to cut income taxes mostly for the benefit of the highest earners. At a time when Kim Jung-un is playing with his nuclear toys, Vladimir Putin’s and Xi Jinping’s pilots are buzzing our planes, Iranians in little boats are threatening our giant destroyers and carriers, China is warning us to stay out of large swathes of the South China sea through which 40 percent of the world’s commerce passes while they build a blue water navy, and terrorists are increasingly bold, Republicans are refusing to increase funding for the military unless offsetting spending cuts, politically impossible and many undesirable, are made.

To begin to focus on policies that address real problems, start with this: Obama won. He set out to expand the welfare state in a way from which there could be no retreat, and he succeeded, much as did Franklin Roosevelt and Lyndon Johnson before him. What Obama constructed, no man can tear asunder, at least not completely. We now accept that people with pre-existing conditions are entitled to health insurance, and at rates subsidized by the rest of us, either through higher insurance premiums combined with a mandate to buy unneeded insurance, or higher taxes. In short, we find ourselves where we were after the Roosevelt revolution, where Britain was after the Thatcher revolution: Roosevelt’s expansion of the role of the state could not be reversed by the American Right, Thatcher’s shrinking of the scope of the state could not be reversed by the British Left. Some changes are irreversible, and all the huffing and puffing of the Rand Pauls cannot blow the entitlement house down.

Many years ago, Irving Kristol, the acknowledged Godfather of what came to be called neo-conservatism (before a more aggressive foreign policy was grafted onto that persuasion) argued that conservatives were wasting their energy and squandering political capital by attempting to repeal the New Deal and the welfare state that Franklin Roosevelt erected. “The idea of a welfare state,” he wrote, “is in itself perfectly consistent with a conservative political philosophy…. In our urbanized, industrialized, highly mobile society, people need governmental action of some kind if they are to cope with many of their problems: old age, illness, unemployment, etc. They need such assistance; they demand it; they will get it. The only interesting political question is: How will they get it?”

Kristol’s bottom line: whether you like it or not, live with the welfare state and develop conservative tools to improve its operation—market-based rather than regulatory approaches to social problems, programs that give weight to the problems of what his wife, historian Gertrude Himmelfarb, calls “the deserving poor,” without creating incentives to perverse behavior, such as dropping out of the work force. Now just might be the time for conservatives to treat the bulk of the entitlement state as Kristol urged conservatives to treat the New Deal welfare state: here to stay, ripe for improvement. Accept what’s on offer, concentrate on the little things such as work requirements that might make them more effective, and perhaps grandfather some of them—leave existing beneficiaries with what they have, and make less generous terms available to new entrants to whom the existing social contract has not yet been offered.

This takes on even greater urgency now than it did when Kristol wrote. In addition to the problems then apparent, we have to face the fact that trade unions are no longer sufficiently powerful to protect the interests of any save tax-payer-supported government workers who have been immune to the competition created by globalization—so far (he added in what he hopes is ominously). And that the loophole-ridden tax system is no longer sufficiently progressive to stem the tide of the rising inequality that is sapping support both for capitalism and democracy, nor sufficiently efficient to be other than a drag on economic growth. Turn attention, then, to the unmet needs of the poor and the military. If programs to meet those needs cannot be much reduced, and mounting deficits threaten eventually to trigger inflation that will be far more damaging to those who do not own shares and houses than those who do, we are left with one alternative: raise taxes. Yes, more rapid economic growth would solve a lot of our problems, but our ability to achieve that goal is uncertain. President Trump’s plan to deregulate strangled sectors of the economy will help, unless pushed to excess. And judicious tax reform will help. But to rely on growth to solve all our problems would involve a bet appropriate to the casino, not to the halls in which policy is formulated.

So, raise taxes. Not all taxes. Just some taxes. Leave others in place, or lower them, but only those with the greatest promise of stimulating growth. It is difficult to argue that the tax burden on the very rich is now so onerous as to stifle their incentive to work and take risks. Does anyone believe that failure to lower Warren Buffet’s tax bill will persuade him to give up investing and become a full-time bridge player? That unless we lower taxes on the moguls of Silicon Valley they will end their quest for the next revolutionary device or way of interconnecting, searching for information, delivering packages simultaneously with the receipt of an order, or perhaps even visiting Mars? So start with forgetting direct tax relief for our most prosperous and wealthy citizens. They have done rather well from the rise in their portfolios, a portion of which should be credited to the Fed’s zero-interest rate policy. Keep top rates where they are, and leave the surcharges built into Obamacare in place, which even Mitch McConnell now seems willing to abide.

Then turn to tax increases. It is difficult to mount a sensible argument for not taxing pollution, but the political time is not ripe for carbon taxes (according even to their most ardent supporters), though that time will surely come to meet rising financial needs and replace failed regulatory tools. But given rising inequality, and evidence that existing educational and other policies will make the good life more inheritable than easily earned, it is difficult to find reasons to oppose an increase in inheritance taxes. They affect very few tax payers; they increase incentives for disappointed recipients of inheritances to work and contribute their time and skills to adding to our income and wealth; they stop or at least slow the increase in inequality with which wealth and incomes are distributed. Warren Buffet says he wants to give his children enough money so they would feel they can do anything, but not so much that they would be able to do nothing. Bill Gates told Britain’s Daily Mail that he’ll pay for education and health issues, but his children are expected to find careers and support themselves while making a contribution to society. These billionaires plan to give away their fortunes, a way to privatize the tax system by directing their wealth to causes that they, not bureaucrats, decide is best. Others who don’t follow their example should face the prospect of high inheritance taxes. Not a lot of dollars to be had, but the symbolism of an effort to attack inequality is not unimportant. And while we are attacking inequality, there are a few bucks to be had by eliminating the cap on incomes subject to payroll taxes.

For real money we turn to border taxes. According to Kyle Pomerlau of the non-partisan Tax Foundation, a border adjustment tax “raises more than $1 trillion in revenue [over a decade] with little economic harm.” That is money lying on the table to help avoid politically difficult and in some cases inappropriate cuts in the growth of entitlements such as Medicaid, and to get our military in shape to meet its responsibilities. And, if the numbers work out, to permit increasing the progressivity of the overall system by lowering or eliminating workers’ portion of regressive payroll taxes.

The border tax is a favorite of Paul Ryan, but detested by those of his party fearful of the reaction of their districts’ Walmart voters—and by the President, not least of all, because of the tax’s complexity. It is difficult to imagine reasons for failing to impose a tax on imports from countries that apply Value Added Taxes to American exports. Complicated? What tax isn’t? Will a border tax raise prices on imported goods? Perhaps, but only perhaps. Most economists agree on a chain of relationships that will prevent significant increases in retail prices. Such a tax on imports will lower our trade deficit, thereby strengthening the dollar and making foreign goods cheaper for Walmart et al. to buy—sufficiently cheaper to offset the cost of the border tax. And even if the price of imported goods does rise, and even if that rise is borne in part by lower-income families, doesn’t that group still come out ahead given the enormous social and economic costs of unemployment driven by a flood of subsidized imports from China, and not only China? Put differently: is it wrong to attribute at least part of our $15.5 billion annual auto trade deficit with Germany to the fact that American vehicles sold there are saddled with a 20 percent VAT, while BMWs sold here pay only minor local taxes?

Economists generally agree that lowering corporate tax rates provides a far greater stimulus to growth than reductions in personal tax rates. So a lowering of the rate from its current statutory level of 35 percent (the actual rate after deductions is about 28 percent) is probably a good idea: it is agreeable to both parties, it should stimulate economic growth enough to recover part of the foregone revenue, and it should discourage corporate flight. At the same time, some existing deductions can be eliminated. The idea of lowering the tax rate and broadening the tax base is an unexceptional one, relied on in the days of Jack Kennedy and Ronald Reagan, who garnered bipartisan support for tax reform. Such comprehensive reform is probably beyond our grasp, “things being the way they are,” to borrow from the gamblers’ explanation in “Guys and Dolls” for the reason why “the back of the police station is out” as a site for the next big crap game.

But a few changes seem possible. It is generally agreed that the current system favors debt over equity, borrowing over investing, with the result being an excessively leveraged corporate sector. That can be corrected by eliminating the deductibility of interest on corporate debt, a feature that is driving up borrowing and leverage, and making equity uneconomically expensive. According to the Tax Foundation, ending the deductibility of interest on corporate debt would bring in $1.5 trillion over the next decade. Trump-haters should welcome such a reform, if not for its beneficial effects on the stability of the corporate sector, if not for the crimp it would put in leveraged buy-outs by private equity moguls, then for its damaging effect on the value of the assets the President has refused to disgorge. If Trump vetoes it, well, we tried.

Finally, a word about procedure. As things now stand, any tax cuts that extend beyond a ten-year budget window are forbidden. This, says “the business community” (if there is indeed such a thing), makes such cuts unattractive since businesses’ investment-planning horizon is much longer than ten years. There are two reasons why this rule is, well, ridiculous. First, the same far-sighted businessmen who claim to have a planning horizon that takes their vision beyond a decade know full well that the weight, if any, they attach to years eleven and beyond is slight, especially since by that time they will be sipping martinis at the 19th holes of their golf clubs. Business executives claiming such long vision are in many cases the very same who spend a good part of their time preparing for the next quarterly earnings report. Second, a tax cut once received tends to become permanent, especially one with a projected life of as much as ten years. When the ten-year expiration date rolls around, renewal is the norm, as was the case with George W. Bush’s tax cuts.

There you have a few ideas, none particularly original. Taxes on things we don’t like—tax -subsidized imports; inter-generational wealth transfers that sap incentives to work and increase income inequality; features of the code that result in an excessively leveraged corporate sector. Taxes needed to restore a bit of lost progressivity in the tax code, and to adjust an income distribution distorted by high earnings resulting from fiscal and monetary policies, rather than hard work and risk-taking. None run against the grain of our current economic and security requirements. In combination, they raise revenues that allow military spending and entitlements to meet our expanding needs; make a modest assault on inequality by tipping the playing field more in favor of the middle class and the poor, and away from the better-off; and probably add a bit of oomph to our economic growth rate. Conservatives get a serious assault on deficits and cash to bring the military’s capabilities more in line with its current responsibilities, liberals get taxes on the rich, none likely seriously to reduce incentives to work and invest, and cash to end threats to current funding of entitlement programs, reformed to increase their efficiency. Taken together, a conservative-liberal stew that just might prove palatable to the powers-that-be, palatable enough to give them an incentive to consider coming up with their own proportion of these ingredients.

The alternative is more of the same old, same old. The election of Donald Trump and his hostile takeover of the Republican Party, and Bernie Sanders’ almost-successful effort to have his Socialist Party engineer a hostile takeover of the Democratic Party, are warnings that the acceptability of democratic market capitalism as now practiced is headed to the ash heap of history. Our political class has nothing to lose but the chains that bind it to out-dated policies.

*About the author:
*Irwin Stelzer* is a Senior Fellow and Director of Hudson Institute’s Economic Policy Studies Group. Prior to joining Hudson Institute in 1998, Stelzer was Resident Scholar and Director of Regulatory Policy Studies at the American Enterprise Institute.

*Source:*
This article was published by the Hudson Institute Reported by Eurasia Review 19 hours ago.

High Schools in California are now utilizing the latest ezPaycheck 2017 payroll software to teach students about income tax and other deductions from paychecks. Get the details at http://www.halfpricesoft.com/index.asp.

Los Angeles, CA (PRWEB) July 27, 2017

Updated EzPaycheck 2017 payroll software from Halfpricesoft.com is a valuable learning tool for California High Schools when teaching students just how far a paycheck really goes. Students can now view the deductions that are taken out of paychecks and how much the employee actually brings home in a paycheck.

"We are thrilled that our ezPaycheck payroll software can provide a valuable learning tool to High Schools around the US in how to prepare for the job world." said Dr. Ge, founder of Halfpricesoft.com.

Students in the program receive a weekly or monthly paycheck printed by ezPaycheck that will reflect the wage level of the chosen career. Students get to see what the take-home pay would be after deductions for taxes, health insurance and savings plans.

EzPaycheck payroll software is ideal for school programs because teachers have the following features:
Set up virtual bank accounts
Print life-like checks (based on virtual funds)
Create unlimited virtual businesses
Use with an unlimited number of students
Assign pay rates to students that reflect real-world wages for chosen careers
Program deductions for taxes using actual federal, state and local tax rates (updated annually)
Program deductions for health insurance and savings plans

Whether test-driving the software for use with a school program or trying out features for use with a business, new customers can sample ezPaycheck payroll software and all of its features free for up to 30 days. Beyond 30 days, a full-use license key can be purchased for just $89 per installation, per single user version.

There is never a cost or obligation to test this low cost, high quality software application. Download at http://www.halfpricesoft.com/index.asp.

About Halfpricesoft.com
Halfpricesoft.com is a leading provider of small business software, including payroll software, employee attendance tracking software, accounting software, check printing software, W2, software, 1099 software, and ezACH direct deposit software. Software from halfpricesoft.com is trusted by thousands of customers and will help small business owners simplify their payroll processing and business management. Reported by PRWeb 16 hours ago.

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MAP was selected as a finalist in this year’s Fierce Innovation Awards for its population health management solutions.

Austin, TX (PRWEB) July 27, 2017

MAP Health Management, LLC., announced today that it has been selected as a finalist in this year’s Fierce Innovation Awards: Healthcare Edition 2017, an awards program from the publisher of FierceHealthcare. MAP was recognized as a finalist in the category of Population Health Management/Patient Engagement Solutions.

MAP was selected as a finalist for its innovative, industry leading population health management solutions. Finalists were selected by a distinguished panel of judges from renowned U.S. hospitals and healthcare systems. The panel included Terry Booker, VP Corporate and Business Development, Independence Blue Cross (IBC); Roy DeLaMar, Internal Business Communications Manager, Cigna; Neal Ganguly, VP and CIO, JFK Health System; Deborah Gordon, VP Marketing Sales and Product Strategy, Tufts Health Plan; Jessica Grosset, VC of IT, Infrastructure and Operation, Mayo Clinic; Kurt Cwak, CIO, Proliance Surgeons; Roger Neal, CIO and VP, Information Technology, Duncan Regional Hospital; Todd Richardson, Senior VP/CIO, Aspirus; Edward Ricks, VP and CIO, Information Services, Beaufort Memorial Hospital; and Julie Slezak, EVP, Clinical Analytics, GNS Healthcare.

All applications were evaluated based on the following criteria: Competitive Advantage, Financial Impact/Value, Market Need, and Overall Innovation. Applicants with the top 3 scores in each category were selected as finalists. “MAP is honored to be a finalist for this award and takes great pride in our mission to improve outcomes for the millions of people and families struggling with addictions and co-occurring behavioral health disorders," said Jacob Levenson, Founder and CEO of MAP Health Management. To learn more about MAP, visit https://www.thisismap.com.

About FierceMarkets
FierceMarkets, a division of Questex, LLC, is a leader in B2B e-media, providing information and marketing services in the telecommunications, life sciences, healthcare, IT, energy, government, finance, and retail industries through its portfolio of email newsletters, websites, webinars and live events. Every business day, FierceMarkets' wide array of digital publications reaches more than 2 million executives in more than 100 countries.

About MAP Health Management, LLC
MAP develops technology-enabled solutions that improve clinical and financial outcomes for chronic behavioral health disorders such as Substance Use Disorder. MAP empowers treatment providers, health insurance companies, health systems, and patients with the right data at the right time to improve clinical and financial outcomes. For more information, visit https://www.thisismap.com. Reported by PRWeb 15 hours ago.

WHISTL will focus on vetting complex multi-vendor, multi-device critical care environments like Hospital Intensive Care Units, Operating Theatres and Emergency Rooms

San Francisco, CA (PRWEB) July 27, 2017

MDISS, the Medical Device Innovation, Safety and Security Consortium today launched the first of more than a dozen planned device security testing labs and cyber-ranges. The new MDISS World Health Information Security Testing Lab (WHISTL) facilities will comprise a federated network of medical device security testing labs, independently owned and operated by MDISS-member organizations including healthcare delivery organizations, medical device manufacturers, universities and technology companies. Each WHISTL facility will launch and operate under a shared set of standard operating procedures. The goal is to help organizations work together to more effectively address the public health challenges arising from cybersecurity issues emergent in complex, multi-vendor networks of medical devices.

While such security ‘proving grounds’ aren’t new to enterprise IT, WHISTL is the first network of labs specifically designed around the needs of medical device researchers, healthcare IT professionals and hospital clinical engineering leaders. By the end of 2017, MDISS WHISTL facilities will open in New York, Indiana, Tennessee, California as well as in the UK, Israel, Finland and Singapore.

Benjamin G. Esslinger, CBET Manager/Clinical Engineer at Eskenazi Health, said “Working with MDISS over the past year on WHISTL has helped us make real progress against some very complex risk scenarios, while keeping the focus on patient safety.” Esslinger is the current 2017 Trustee and past President of the Indiana Biomedical Society. He works with Matthew S. Dimino, an Imaging Engineer at Eskenazi Health and educator at Indiana University - Purdue University Indianapolis. Esslinger continued, “Remember, medical devices are still on the frontier of cybersecurity, and security best practices for devices are still maturing. Our new WHISTL facility enables us to run medical devices through tougher, more realistic test regimes. Hidden vulnerabilities surface more quickly, and that helps us build more responsive standard operating procedures.”

WHISTL facilities focus on identifying and mitigating medical device vulnerabilities, sharing solutions and best practices, and device security education and awareness. Newly uncovered vulnerabilities will be responsibly reported to device manufacturers and to the NHISAC-MDISS Medical Device Vulnerability Program for Evaluation and Response, or ‘MDVIPER’ at https://mdviper.org/

“WHISTL will provide much-needed insight from actual developers and users of medical devices, which will result in increased relevant and actionable information sharing and situational awareness for all stakeholders in healthcare”, said Denise Anderson, president of NH-ISAC, “NH-ISAC looks forward to partnering with MDISS on this important effort for the community.”

MDISS, under a $1.8M contract from the Department of Homeland Security (Science and Technology Directorate, Cyber Security Division) built the medical device cyber risk assessment platform, or ‘MDRAP’. The platform helps health systems, device manufacturers, and technology firms collaborate to produce and share device risk assessments. The fast-growing and standards-based MDRAP platform features moderated crowdsourcing and facilitates timely, responsible sharing of risk assessments and threat indicators, while helping automate critical device inventory, audit, oversight and vulnerability tracking tasks for hospitals.

Dr. Nordenberg, MD, Executive Director of MDISS, and former CIO at the National Centers for Disease Control’s National Center for Infectious Diseases, stated, “MDISS WHISTL facilities will dramatically improve access to device security know-how while protecting patient privacy and stakeholder intellectual property. Solid cyber-lab governance will support an international-scale network of research and training centers of excellence, designed especially for medical device designers, hospital IT, and clinical engineering professionals.”

WHISTL’s device testing protocols will have their foundation in the UL Cybersecurity Assurance Program specifications (UL CAP, at http://industries.ul.com/cybersecurity), especially with regards to fuzz testing, static binary analysis and structured penetration testing.

For more information about WHISTL, contact MDISS at whistl(at)mdiss(dot)org

ABOUT MDISS – The Medical Device Innovation, Safety and Security Consortium (MDISS), founded in 2010, is a 501(c)(3) non-profit public/private partnership dedicated to advancing patient safety and public health, and the first to focus exclusively on medical device cybersecurity. MDISS develops and delivers practical technology, operations and policy solutions for member organizations, including hospitals, health delivery organizations, doctors, epidemiologists, clinical engineers, medical device manufacturers, academics, regulators, embedded security experts and cybersecurity researchers. Join us. Visit http://www.mdiss.org.

ABOUT NH-ISAC – The National Health Information Sharing and Analysis Center (NH-ISAC), the official healthcare information sharing and analysis center, offers non-profit and for-profit healthcare stakeholders, such as: independent hospitals, IDN “providers”, health insurance “payers”, pharmaceutical/biotech manufacturers, laboratory, diagnostic, medical device manufacturers, medical school and medical R&D organizations, a community and forum for sharing cyber and physical threat indicators, best practices and mitigation strategies. NH-ISAC is a non-profit corporation funded and owned by its members. please visit http://www.nhisac.org.

Media Contact:
Kurt Stammberger, CISSP PMC
+1-415-519-0840
kurt.stammberger(at)mdiss(dot)org

### Reported by PRWeb 15 hours ago.

[Bhekisisa] Government and medical aids may be uncomfortable but necessary bedfellows Reported by allAfrica.com 15 hours ago.

Policybazaar.com (twitter handle: @policybazaar_in)*erty Videocon General Insurance, Bharti Axa General Insurance and TATA AIG General Insurance* have joined hands offering to underwrite lapsed motor insurance through this feature, subject to the video quality being up to their guidelines. We expect eight more insurers to be onboard in the coming months.

 

Speaking on the new feature, *Policybazaar.com,** CEO Yashish Dahiya *said, “At Policybazaar, our customers come first, and we keep striving to make insurance buying process hassle-free. The launch of the self-inspect feature is one such step which helps both consumers as well as insurers.”

 

*Head of Motor Insurance, Policybazaar.com,** Neeraj Gupta*, added,* *“The self-inspect feature has been designed for the tech-savvy India where a majority of people use smart phones. The self-inspection requires a 360 degree video of the vehicle to be insured without any pause, a process that eliminates chances of any fraud. Through this feature, Policybazaar aims to save time and money of those who want their vehicles’ insurance renewed without much difficulty.”

 

The feature is available on the Policybazaar App which can be downloaded from Google Play store for android users. The feature will also be available on iOS soon. The App functions well on any android phone operating on an OS version of 5.0 and having 4 MP or above camera. The new feature has a demo video to guide you on how to shoot inspection video and upload the same, besides guidelines laid down by insurers that you will have to keep in mind before undertaking the self-inspection.

 

· The video should be taken in day light and those done in a basement or under shade (for example, under a tree) are not valid.

· 360 degree view of the vehicle has to be captured in a single video clip without any pause and the vehicle shouldn't go out of the focus while the video is being shot.

· The video should include, either at the start or at the end, a copy of the car’s RC (registration certificate) which is mandatory and a copy of previous year’s policy copy (if applicable).

 

 *About PolicyBazaar.com*

PolicyBazaar is India's largest insurance marketplace and is an InfoEdge (Naukri.com), Inventus Capital, Tiger Global Management, Steadview Capital, Premji Invest, Temasek and Ribbit Capital Investee Company. The portal started with a purpose to educate people on insurance products and has had a significant influence on how insurance is bought in India. It has helped in driving penetration of pure life insurance, health insurance and such products which were barely bought earlier.

 

From receiving traffic of 180,000 visitors in 2008, PolicyBazaar.com has come a long way and today hosts over 60 million visitors yearly and records sale of nearly 120,000 transactions a month. Currently, PolicyBazaar.com accounts for nearly 20% of India’s life cover, and over 7% of India’s retail health business. It accounts for roughly half of all internet based insurance purchase in the country and is more than doubling annually.

 

The company has received several accolades in India and globally. The most noteworthy being recognized as India’s top and world’s leading “*Fin Tech Innovator*” by the Global consultancy firm, KPMG and venture capital fund, H2 Ventures for 2015 & 2016. It has won a range of awards, including The Financial Express “*Best Fintech Marketplace*”, The Economic Times “*Best Corporate Brand*”, Internet & Mobile Association of India (IAMAI) “*Best Financial Website*” for two years, Exchange4Media “*E-commerce Marketing Campaign*” and BML Munjal Award for “*Excellence in Learning & Development*” among the most notable ones in the last couple of years.  Reported by NewsVoir 14 hours ago.

Before you make a move you might regret, get the facts about your health insurance. Reported by Motley Fool 13 hours ago.

MCMURRAY, Pa.--(BUSINESS WIRE)--Mark Farrah Associates provides a timely look at recent individual health insurance market developments and competitor insights. Reported by Business Wire 11 hours ago.

 
 

Press Release

Quarterly Financial Information as of June 30, 2017
IFRS - Regulated Information - Not Audited

*Cegedim: all divisions helped grow like-for-like revenues in first half 2017*

· Like-for-like revenues rose 6.4% in H1 2017
· Business model transformation is still going strong
· Cegelease business slated for sale

*Disclaimer: This press release is available in French and in English. In the event of any difference between the two versions, the original French version takes precedence. This press release may contain inside information. It was sent to Cegedim's authorized distributor on July 27, no earlier than 5:45 pm Paris time. The following terms are defined in the Glossary.*

*Conference CALL on July 27, 2016, at 6:00PM CET*
*FR* : +33 1 72 00 15 10 *USA* : +1 646 722 4907 *UK* : +44 (0)20 3043 2440 *PIN Code:* 30006191#
*The webcast is available at the following adress :* http://bit.ly/2uM93g1

*Boulogne-Billancourt, France, July 27, 2017 after the market close*

*Cegedim* *, an innovative technology and services company, posted consolidated Q2 2017 revenues of €116.9 million, up 7.0% on a reported basis and 6.0% like-for-like compared with the same period in 2016.*

*For the first half of 2017 consolidated revenues came to €230.6 million up 7.0% on a reported basis and 6.4% like-for-like compared with the same period in 2016.*

All of the divisions helped grow the Group's like-for-like (LFL) growth in the second quarter and first half compared with a year ago.

Growth at the Health insurance, HR and e-services division remained robust, with year-on-year (y/y) increases LFL of 7.3% in the second quarter and 9.8% in the first half of 2017.

Over the same period, the Healthcare professionals division returned to LFL growth in the second quarter. It's 3.8% y/y increase brought the division's LFL first-half growth to 1.4% compared with the year-earlier period. Growth was buoyed by computerization solutions for pharmacists, doctors, nurses and physical therapists in France, and for doctors in Belgium, Spain and the US. Cegelease , the financial lease business, also helped boost revenues.

Part of this growth came from the Group's BPO businesses, most of which are still ramping up their operations. As a result, they will negatively affect Group profitability in 2017.

The business model transformation initiated in fall 2015 is beginning to pay off, and we expect to see the full impact in 2018.

To continue its business model transformation and refocus its strategy, Cegedim is contemplating divestment of its Cegelease and Eurofarmat subsidiaries. These subsidiaries operate principally in the financial domain, are highly valued, and require additional resources to continue pursuing and accelerating their development for the benefit of their clients and employees.

* Revenue trends by division *

· In the second quarter of 2017

    *Second quarter*
In € million   2017 2016 Chg. L-f-l Chg. Reported
Health insurance, HR and e-services   71.7 64.8 +7.3% +10.5%
Healthcare professionals   44.3 43.7 +3.8% +1.5%
Activities not allocated   0.9 0.8 +19.4% +19.4%
*Cegedim*   *116.9* *109.3* *+6.0%* *+7.0%*

In the second quarter of 2017, Cegedim posted consolidated revenues of €116.9 million, up 7.0% on a reported basis. Excluding an unfavorable currency translation effect of 1.1% and a 2.1% boost from acquisitions, revenues rose 6.0%.

The unfavorable currency translation effect of €1.2 million, or 1.1%, was chiefly due to the €1.3 million negative impact of the pound sterling, which represents 10.7% of Group revenues.

The €2.3 million positive impact from acquisitions, or 2.1%, was mainly due to the acquisition of Futuramedia in France in November 2016.

All of the divisions improved in like-for-like terms. Health insurance, HR and e-services division revenues rose by 7.3%, and Healthcare professionals division revenues rose by 3.8%.

· In the first half of 2017

    *Half-year*
In € million   2017 2016 Chg. L-f-l Chg. Reported
Health insurance, HR and e-services   140.3 124.6 +9.8% +12.6%
Healthcare professionals   88.4 89.4 +1.4% (1.1)%
Activities not allocated   2.0 1.6 +26.2% +26.2%
*Cegedim*   *230.6* *215.5* *+6.4%* *+7.0%*

In the first half of 2017, Cegedim posted consolidated revenues of €230.6 million, up 7.0% on a reported basis. Excluding an unfavorable currency translation effect of 1.2% and a 1.8% boost from acquisitions, revenues rose 6.4%.

The unfavorable currency translation effect of €2.6 million, or 1.2%, was chiefly due to the €2.8 million negative impact of the pound sterling, which represents 10.9% of Group revenues.

The €3.9 million positive impact from acquisitions, or 1.8%, was mainly due to the acquisition of Futuramedia in France in November 2016.

All of the divisions improved in like-for-like terms. Health insurance, HR and e-services division revenues rose by 9.8%, and Healthcare professionals division revenues rose by 1.4%.

* Analysis of business trends by division *

· Health insurance, HR and e-services

*The division's first half 2017 revenues came to €140.3 million, up 12.6% on a reported basis. The November 2016 acquisition of* * Futuramedia * *in France made a positive contribution of 3.1%. Currency effects made a negative contribution of 0.3%. Like-for-like revenues rose 9.8% over the period.*
*The* * Health insurance, HR and e-services * *division represented 60.8% of consolidated revenues, compared with 57.8% over the same period a year earlier.*

*The division's second quarter 2017 revenues came to €71.7 million, up 10.5% on a reported basis. The November 2016 acquisition of* * Futuramedia * *in France made a positive contribution of 3.5%. Currency effects made a negative contribution of 0.3%. Like-for-like revenues rose 7.3% over the period.*

Growth was driven mainly by:

· Continued double-digit growth at Cegedim SRH , as work began with several new clients of the SaaS platform for HR management;
· Strong sales momentum leading to the start of work with several new clients of the SaaS platform for electronic data exchange, Global Information Services , including payment platforms . As a result, Cegedim e-business posted double-digit revenue growth in the first two quarters of 2017;
· Double-digit growth in iGestion BPO activities for health insurance companies and mutual insurers;
· The continuation of positive trends - for several quarters now - in third-party payment processing services;
· Modest growth in software and services for the personal insurance market, despite the impact of switching to the SaaS format.

· Healthcare professionals

*The division's first half 2017 revenues came to €88.4 million, down 1.1% on a reported basis. Currency effects made a negative contribution of 2.5%. There was virtually no impact from acquisitions or divestments. Like-for-like revenues rose 1.4% over the period.*
*The* * Healthcare professionals * *division represented 38.3% of consolidated revenues, compared with 41.5% over the same period a year earlier.*

*The division's second quarter 2017 revenues came to €44.3 million, up 1.5% on a reported basis. Currency effects made a negative contribution of 2.4%. There was virtually no impact from acquisitions or divestments. Like-for-like revenues rose 3.8% over the period.*

Second-quarter growth more than offset the decline in the first quarter. The key performances responsible for this positive trend were:

· Double-digit Q2 growth from Pulse , the computerization of doctors, and the RCM business in the US. RCM is a BPO-type business and is growing rapidly, with double-digit growth over the first half that will negatively affect EBITDA for the period;
· Computerization products and services for doctors in Belgium, Spain and France, and for French nurses, physical therapists, speech therapists, orthoptists, midwives, and podiatrists;
· Computerization products and services for French pharmacists, which returned to growth thanks to the Smart Rx launch of last September. The business confirmed strong momentum in its order intake compared with a year ago;
· A good performance in the first half by the BCB scientific database for prescription assistance, prescription fulfillment, and health products.
· Cegelease , the financial lease business.

This performance was partly offset by a decline in revenue of computerization solutions to UK doctors pending the release of a full version in SaaS format. The first modules arrived on the market early this year and were well received.

· Activities not allocated

*The division's first half 2017 revenues came to €2.0 million, up 26.2% both on a reported basis and like for like. There were no currency effects and no acquisitions or divestments.*
*The* * Activities not allocated * *division represented 0.9% of consolidated revenues, compared with 0.7% over the same period a year earlier.*

*The division's second quarter 2017 revenues came to €0.9 million, up 19.4% both on a reported basis and like for like. There were no currency effects and no acquisitions or divestments.*

This favorable trend reflects an undemanding comparison and good development in the facilities management and data hosting business, including for health data hosting.

*
*

* Highlights *

Apart from the items cited below, to the best of the company's knowledge, there were no events or changes during the period that would materially alter the Group's financial situation.

· Tessi litigation

On February 10, 2017, Cegedim was ordered to pay €4,636,000 to the Tessi company for failing to meet certain obligations with respect to an asset sale made on July 2, 2007.

Cegedim has decided to appeal this decision.

· Euris litigation

Cegedim, jointly with IMS Health, is being sued by Euris for unfair competition. Cegedim has filed a motion claiming that IMS Health should be the sole defendant.

· Partial interest rate hedging

To hedge part of its exposure to euro interest rate fluctuations arising from its RCF, the Group carried out an interest rate swap on February 17, 2017. Under the zero-premium swap agreement, Cegedim receives the 1-month Euribor rate if it exceeds 0%, receives nothing otherwise, and pays a fixed rate of 0.2680% for a notional amount of €50 million, starting on February 28, 2017, and maturing February 26, 2021.

To hedge part of its exposure to euro interest rate fluctuations arising from its RCF, the Group carried out an interest rate swap on May 11, 2017. Under the zero-premium swap agreement, Cegedim receives the 1-month Euribor rate if it exceeds 0%, receives nothing otherwise, and pays a fixed rate of 0.2750% for a notional amount of €30 million, starting on May 31, 2017, and maturing December 31, 2020.

· Acquisition of B.B.M. Systems in the UK

On February 23, 2017, Cegedim acquired UK company B.B.M. Systems through its Alliadis Europe Ltd subsidiary. The deal strengthens the Group's expertise in developing cloud-based products for general practitioners.

B.B.M. Systems had 2016 revenues of around €0.7 million and earned a profit. It contributes to the Group's scope of consolidation from March 1, 2017.

· Changes to Cegedim SA's Board of Directors

In keeping with the wishes of BPIFrance, Ms. Anne-Sophie Hérelle has been appointed to replace Ms. Valérie Raoul-Desprez on the Board of Directors. The permanent representative of BPIFrance, is now Ms. Marie Artaud-Dewitte, Deputy Head of Legal Affairs at Bpifrance Investissements. She replaces Ms. Anne-Sophie Hérelle.

· Acquisition of Adaptive Apps in the UK

On May 3, 2017, Cegedim acquired UK company Adaptive Apps through its In Practice Systems Limited subsidiary. The deal strengthens the Group's expertise in developing cloud-based and mobile products for healthcare professionals.

Adaptive Apps had 2016 revenues of around €1.5 million and earned a profit. It contributes to the Group's scope of consolidation from May, 2017.

* Significant post-closing transactions and events *

To the best of the company's knowledge, apart from the items cited below, there were no events or changes after the accounts were closed that would materially alter the Group's financial situation.

· Tessi litigation

On July 21, 2017, Cegedim paid €4,636,000 to the Tessi company to comply with a court ruling of February 10, 2017.

Cegedim has decided to appeal this decision. The appeal is currently under way

· Cegelease contemplated disposal

As part of the business model transformation plan that the Group initiated in fall 2015, Cegedim is contemplating divestment of its Cegelease and Eurofarmat subsidiaries. These subsidiaries operate principally in the financial domain, are highly valued, and require additional resources to continue pursuing and accelerating their development for the benefit of their clients and employees.

The two businesses have 24 employees in France. In 2016 they contributed €5.4 million to Group consolidated EBITDA. The subsidiaries' standalone EBITDA amounted to €18.1 million in 2016.

If the Group receives satisfactory offers and is able to obtain the necessary approvals, it plans to close the deal in the second half of 2017. The Group in no way guarantees that a deal will be carried out.

A successful sale would give the Group a portfolio of businesses that fit well together and generate strong synergies. Cegedim is not planning any further divestments.

Assisting Cegedim on this transaction are the consulting firm of Ohana & Co and the law firm of Freshfields Bruckhaus Deringer.

* Outlook *

Cegedim continues to reinvent itself in 2017, pursuing innovation and investing in the future by transforming its business model. The business model transformation is well under way, so growth momentum is expected to continue and lead to improving profitability in the future.

Even though our first-half revenue growth was stronger than our current guidance and we do not expect trends in the Group's core businesses to change, Cegedim is reiterating its full-year outlook of:

· Like-for-like revenue growth between 4.0% and 6.0%.
· EBITDA in a range of €66.0 million to €72.0 million inclusive.

The above outlook does not reflect the potential divestments of Cegelease and Eurofarmat .

Cegedim expects to see the full positive impact of its investments, reorganization and transformation in 2018.

The Group does not expect any significant acquisitions in 2017 and does not disclose earnings projections or estimates.

· Potential impact of Brexit

In 2016, the UK accounted for 12.7% of consolidated Group revenues and 14.8% of consolidated Group EBIT.

Cegedim deals in local currency in the UK, as it does in every country where it is present. Thus Brexit is unlikely to have a material impact on Group EBIT.

With regard to healthcare policy, the Group has not identified any major European programs at work in the UK and expects UK policy to be only marginally affected by Brexit.

The figures cited above include guidance on Cegedim's future financial performances. This forward-looking information is based on the opinions and assumptions of the Group's senior management at the time this press release is issued and naturally entails risks and uncertainty. For more information on the risks facing Cegedim , please refer to points 2.4, "Risk factors and insurance", and 3.7, "Outlook", of the 2016 Registration Document filed with the AMF on March 29, 2017, under number D.17-0255.  *September 21, 2017,* after market closing

*September 22, 2017,* at 2:30 pm

*October 26, 2017,* after market closing Half-year 2017 earnings

Analyst meeting (SFAF)

Q3 2017 revenues

* Financial calendar *

*July 27, 2017, at 6:00pm* *(Paris time)*
The Group will hold a conference call hosted by Jan Eryk Umiastowski, Cegedim Chief Investment Officer and Head of Investor Relations.
The webcast is available at the following address: http://bit.ly/2uM93g1

The second quarter 2017 revenue presentation is available at:

The website:  http://www.cegedim.fr/finance/documentation/Pages/presentations.aspx

The Group's financial communications app, Cegedim IR. To download the app, visit: http://www.cegedim.fr/finance/profil/Pages/CegedimIR.aspx
*Contact Numbers :* *France :* +33 1 72 00 15 10 

*United States :* +1 646 722 4907 

*UK and others :* +44 (0)20 3043 2440  *PIN Code:* 30006191#

* Additional information *

Q2 2017 revenue figures have not been audited by the Statutory Auditor.*Annexe*

* Breakdown of revenue by quarter and division *

· Year 2017

In € thousands   Q1 Q2 Q3 Q4 Total
Health insurance, HR and e-services   68,606 71,650 - - 140,256  
Healthcare professionals   44,045 44,334 - - 88,379  
Activities not allocated   1,054 930 - - 1,983  
*Cegedim*   *113,705* *116,913* *-* *-* *230,618*  

· Year 2016

In € thousands   Q1 Q2 Q3 Q4 Total
Health insurance, HR and e-services   59,728 64,847 60,607 77,143 262,325  
Healthcare professionals   45,687 43,676 41,459 44,404 175,226  
Activities not allocated   793 778 770 954 3,295  
*Cegedim*   *106,208* *109,301* *102,836* *122,501* *440,846*  

* Breakdown of revenue by geographic zone and division *

· As of June 30, 2017

In € thousands   France EMEA excl. France Americas APAC
Health insurance, HR and e-services   96.9% 3.1% - -
Healthcare professionals   60.5% 30.4% 9.1% -
Activities not allocated   99.5% 0.5% - -
*Cegedim*   *83.0%* *13.5%* *3.5%* *-*

* Breakdown of revenue by currency and division *

· As of June 30, 2017

In € thousands   Euro GBP USD Others
Health insurance, HR and e-services   96.9% 2.0% 0.0% 1.1%
Healthcare professionals   64.6% 25.3% 9.0% 1.1%
Activities not allocated   100.0% 0.0% 0.0% 0.0%
*Cegedim*   *84.6%* *10.9%* *3.4%* *1.1%**Activities not allocated:* This division encompasses the activities the Group performs as the parent company of a listed entity, as well as the support it provides to the three operating divisions.

*BPO (Business Process Outsourcing):* BPO is the contracting of non-core business activities and functions to a third-party provider. Cegedim provides BPO services for human resources, Revenue Cycle Management in the US and management services for insurance companies, provident institutions and mutual insurers.

*Business model transformation:* Cegedim decided in fall 2015 to switch all of its offerings over to SaaS format, to develop a complete BPO offering, and to materially increase its R&D efforts. This is reflected in the Group's revamped business model. The change has altered the Group's revenue recognition and negatively affected short-term profitability

*EPS:* Earnings Per Share is a specific financial indicator defined by the Group as the net profit (loss) for the period divided by the weighted average of the number of shares in circulation.

*Operating expenses:* Operating expenses is defined as purchases used, external expenses and payroll costs.

*Revenue at constant exchange rate:* When changes in revenue at constant exchange rate are referred to, it means that the impact of exchange rate fluctuations has been excluded. The term "at constant exchange rate" covers the fluctuation resulting from applying the exchange rates for the preceding period to the current fiscal year, all other factors remaining equal.

*Revenue on a like-for-like basis:* The effect of changes in scope is corrected by restating the sales for the previous period as follows:
· by removing the portion of sales originating in the entity or the rights acquired for a period identical to the period during which they were held to the current period;
· similarly, when an entity is transferred, the sales for the portion in question in the previous period are eliminated.

*Life-for-like data (L-f-l):* At constant scope and exchange rates.

*Internal growth:* Internal growth covers growth resulting from the development of an existing contract, particularly due to an increase in rates and/or the volumes distributed or processed, new contracts, acquisitions of assets allocated to a contract or a specific project.   *External growth:* External growth covers acquisitions during the current fiscal year, as well as those which have had a partial impact on the previous fiscal year, net of sales of entities and/or assets.

*EBIT:* Earnings Before Interest and Taxes. EBIT corresponds to net revenue minus operating expenses (such as salaries, social charges, materials, energy, research, services, external services, advertising, etc.). It is the operating income for the Cegedim Group.

*EBIT before special items:* This is EBIT restated to take account of non-current items, such as losses on tangible and intangible assets, restructuring, etc. It corresponds to the operating income from recurring operations for the Cegedim Group.

*EBITDA:* Earnings before interest, taxes, depreciation and amortization. EBITDA is the term used when amortization or depreciation and revaluations are not taken into account. "D" stands for depreciation of tangible assets (such as buildings, machines or vehicles), while "A" stands for amortization of intangible assets (such as patents, licenses and goodwill). EBITDA is restated to take account of non-current items, such as losses on tangible and intangible assets, restructuring, etc. It corresponds to the gross operating earnings from recurring operations for the Cegedim Group.

*Adjusted EBITDA :*  Consolidated EBITDA adjusted, for 2016, for the €4.0m of negative impact from impairment of receivables in the Healthcare Professional division

*Net Financial Debt:* This represents the Company's net debt (non-current and current financial debt, bank loans, debt restated at amortized cost and interest on loans) net of cash and cash equivalents and excluding revaluation of debt derivatives.

*Free cash flow:* Free cash flow is cash generated, net of the cash part of the following items: (i) changes in working capital requirements, (ii) transactions on equity (changes in capital, dividends paid and received), (iii) capital expenditure net of transfers, (iv) net financial interest paid and (v) taxes paid.

*EBIT margin:* EBIT margin is defined as the ratio of EBIT/revenue.

*EBIT margin* *before special items:* EBIT margin before special items is defined as the ratio of EBIT before special items/revenue.

*Net cash:* Net cash is defined as cash and cash equivalent minus overdraft.

 

*Glossary*

About Cegedim:

Founded in 1969, Cegedim is an innovative technology and services company in the field of digital data flow management for healthcare ecosystems and B2B, and a business software publisher for healthcare and insurance professionals. Cegedim employs more than 4,000 people in 11 countries and generated revenue of €441 million in 2016. Cegedim SA is listed in Paris (EURONEXT: CGM).
To learn more, please visit: www.cegedim.com
And follow Cegedim on Twitter: @CegedimGroup

 

*
* *Aude Balleydier*
* Cegedim
* Media Relations
and Communications Manager
Tel.: +33 (0)1 49 09 68 81
aude.balleydier@cegedim.com *
* *Jan Eryk Umiastowski*
*Cegedim*
Chief Investment Officer
and head of Investor Relations
Tel.: +33 (0)1 49 09 33 36
janeryk.umiastowski@cegedim.com *
* *Anne Pezet*
*PRPA Agency*
Media Relations

 

Tel.: +33 (0)1 46 99 69 69
anne.pezet@prpa.fr * *

 

*Follow Cegedim:*

* *

* * * * * *

Cegedim_Results_2Q2017_ENG
--------------------This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Cegedim SA via GlobeNewswire

HUG#2123742 Reported by GlobeNewswire 9 hours ago.

In a twist that exemplifies just how wild the healthcare debate has been, on Thursday the Senate will be voting on a single-payer healthcare plan. From a Republican. Who doesn't support it.

The plan, introduced as an amendment to the House bill by Sen. Steve Daines of Montana, is titled the "Expanded & Improved Medicare For All Act."

The amendment will be the third healthcare plan to face a key vote during the 20-hour Senate debate period. Votes on the Better Care Reconciliation Act (the repeal and replace plan) and the Obamacare Repeal Reconciliation Act (the repeal without replace plan) have both been unsuccessful. 

The amendment would set up a virtual universal healthcare system in which all Americans would be covered through Medicare, the federal government's health program that currently covers all adults who are at least 65 years old. 

But the vote, which is scheduled for Thursday afternoon, isn't expected to pass. It's not even something that Daines supports. The intention is to try to expose which senators would vote in favor of a single payer system. 

"I do not support a single-payer system, but I believe Americans deserve to see us debate different ideas, which is why I am bringing forward this amendment," Daines said in a statement emailed to Business Insider. "It’s time for every Senator to go on the record on whether or not they support a single-payer healthcare system."

The vote might not expose all that much, though. A representative for Sen. Bernie Sanders — who has been a proponent of "Medicare for All"— called the Republican plan a "sham," and said the Democratic caucus won't be considering amendments until the final bill is out. Democrats also won't be introducing amendments until the debate period is over. 

He said in a statement:

"The process Republicans have used to try to take health insurance away from millions is a sham. The Democratic caucus will not consider amendments until we see Republicans' final legislation and know what bill we are amending. Once Republicans show us their final bill, Sen. Sanders looks forward to getting a vote on his amendment that makes clear the Senate believes the United States must join every major country and guarantee healthcare as a right, not a privilege."

*SEE ALSO: LIVE: The Senate debate on an Obamacare repeal plan continues*

*DON'T MISS: Americans are facing rising out-of-pocket healthcare costs — here's why*

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