Tennessee seeks 250 million in uncompensated care funds

Share to Twitter Share to Linkedin There were no new bank failures over the weekend. But the global banking system is not in the pink of health. There are two reasons for continued concern: A March 13 study by four economists reveals that 186 banks are at risk of “impairment” of $300 billion worth of insured deposits A March 19 New York Times report reveals that the Federal Reserve began warning Silicon Valley Bank (SVB) of financial risks in 2021 — over a year before it cratered — yet SVB management did nothing. What’s more Moody’s warned SVB’s management of an imminent downgrade about a month before it announced its emergency capital raise. Shares of First Republic Bank FRC are trading well below where they were after it received $30 billion in deposits from other banks on March 16. It seems only a matter of time before more rot in the banking system comes to light. (I have no financial interest in the securities mentioned in this … [Read more...] about Why 186 Other Banks Could Go The Way Of Silicon Valley Bank

Share to Twitter Share to Linkedin Contributing Author: John J. Perlstein Academy Award winner Gwyneth Paltrow will be starring in a real-life court drama this Tuesday. On March 21, 2023, the seven-year pending trial over a ski incident will take place at the Third District Court in Park City, Utah. In 2016, the actress was skiing down Deer Valley Resort’s slopes when she allegedly collided with retired optometrist Terry Sanderson. According to Mr. Sanderson, the impact resulted in a brain injury, concussion, and multiple broken bones. Nearly three years after the accident, Mr. Sanderson filed a $3.1 million hit-and-run lawsuit against Ms. Paltrow and her ski instructor, Eric Christiansen, who was later dropped from the claims. According to Mr. Sanderson, his delay in filing was due to attorney issues, as well as issues functioning due to the sustained concussion. The lawsuit seeks compensation for Mr. Sanderson’s “permanent traumatic brain … [Read more...] about Gwyneth Paltrow Ski Accident Lawsuit To Hit Peak At Trial

Share to Twitter Share to Linkedin After 18 years as CEO in Kaiser Permanente , I set my sights on improving the heatlh of the nation, hoping to find a way to achieve the same quality, technology and affordability our medical group delivered to 5 million patients on both coasts. That quest launched the Fixing Healthcare podcast in 2018, and it inspired interviews with dozens of leaders, thinkers and doers, both in and around medicine. These experts shared innovative ideas and proven solutions for achieving (a) superior quality, (b) improved patient access, (c) lower overall costs, and (d) greater patient and clinician satisfaction. This month, after 150 combined episodes , three questions emerged: Which of the hundreds of ideas presented remain most promising? Why, after five years and so many excellent solutions, has our nation experienced such limited improvements in healthcare? And finally, how will these great ideas become reality? … [Read more...] about 15 Innovative Ideas For Fixing Healthcare From 15 Brilliant Minds

Share to Twitter Share to Linkedin The IRS rolled out a first look at this year's Dirty Dozen , and there's a new—but not surprising—entry: improper claims involving Employee Retention Credits, or ERC . Dirty Dozen The "Dirty Dozen" is an annual list of common scams taxpayers may encounter. Many of these schemes peak during tax filing season as people prepare their returns or hire someone to help with their taxes. The schemes put taxpayers and tax professionals at risk of losing money, personal information, data, and more. Ineligible ERC Claims This year, the IRS is highlighting Employee Retention Credits following what they call "blatant attempts by promoters to con ineligible people to claim the credit." The IRS specifically called out schemes from promoters who have been blasting radio and internet ads touting ERC refunds. These promotions can be based on inaccurate information related to eligibility for and computation of the credit. … [Read more...] about IRS Warns On ERC Scams As It Announces Annual Dirty Dozen

Share to Twitter Share to Linkedin A senior executive texted me a couple hours before writing this article and encapsulated the present angst in corporate America. “How do I resist going to the dark side during these cost-cutting convos?" she asked. It seemed like it had only been a matter of months since her company pivoted from ambitious long-term goals to short-term contraction. Leaders aren’t alone in feeling more than a little disoriented. After an optimistic start to the year, economic headwinds are building once more as inflation remains stubborn at about 6.4%, higher than the 3.3% long-term average. And that doesn’t even consider what’s happening with banks . The turbulence is prompting CEOs to cut jobs and clamp down on other spending. Given the atmosphere, it’s easy to get the wrong message and overcorrect. Yet, the medium-term market outlook still looks good and many CEOs view current business streamlining as necessary to better … [Read more...] about Banking Turmoil, Cost Cuts, Layoffs And More: How To Manage Through The Current Gloom And Doom

Share to Twitter Share to Linkedin Millions of student loan borrowers are currently in limbo while they wait for a Supreme Court decision on President Joe Biden’s unprecedented student loan forgiveness initiative. In the meantime, the ongoing student loan pause remains in effect after Biden extended the moratorium in direct response to the Supreme Court legal battle. That latest extension is set to end by this summer, when the Supreme Court is set to rule on the loan forgiveness program. But whether Biden extends the pause yet again may ultimately depend on the court’s decision. Biden Extended The Student Loan Pause Until Supreme Court Rules On Student Loan Forgiveness Payments on most federal student loans have been suspended since March 2020 in response to the Covid-19 pandemic. The pause has also frozen interest on government-held federal student loans and stopped collections efforts against defaulted borrowers. President Trump first enacted … [Read more...] about Student Loan Forgiveness: Whether Biden Extends Payment Pause Again May Depend On Supreme Court Ruling

Share to Twitter Share to Linkedin The Biden administration has again updated key deadlines and the overall timeline for borrowers hoping to receive student loan forgiveness under a one-time IDR account adjustment . No formal announcement accompanied the quiet change to current Education Department guidance , which occurred this week. Here’s what borrowers should know. IDR Account Adjustment Can Provide Student Loan Forgiveness Benefits Last year, the Biden administration announced the IDR Account Adjustment, a sweeping one-time fix to address ongoing issues with federal Income Driven Repayment (IDR) plans. IDR, which describes a collection of individual plans, allows borrowers to make payments on their federal student loans according to a formula based on their income and family size. IDR plans can also result in student loan forgiveness for any remaining unpaid balance after 20 or 25 years, depending on the specific plan. Historically, … [Read more...] about Student Loan Forgiveness Timeline And Deadlines Change Again In New Updates To One-Time Adjustment

PHUKET MEDIA WATCH – World news selected by Gazette editors for Phuket’s international community Record freeze extends to eastern United States, at least nine dead Reuters / Phuket Gazette PHUKET: A deadly blast of arctic air shattered decades-old temperature records as it enveloped the eastern United States on Tuesday, snarling air, road and rail travel, driving energy prices higher and overwhelming shelters for homeless people. At least nine deaths have been reported across the country connected with the polar air mass that swept over North America during the past few days. Authorities have put about half of the United States under a wind chill warning or cold weather advisory. Temperatures were expected to be 25 degrees to 35 degrees Fahrenheit (14 to 19 degrees Celsius) below normal from the Midwest to the Southeast, the National Weather Service said. PJM Interconnection, the agency that oversees the electric grid supplying the mid-Atlantic and parts of the … [Read more...] about Phuket Gazette World News: Record freeze extends to eastern United States, at least nine dead

Share to Twitter Share to Linkedin Alex Kreger, UX Strategist & Founder of the financial UX design agency UXDA, increases banking and fintech products' value in 36 countries. In just two months after its launch, GPT-3-powered ChatGPT reached 100 million monthly active users, becoming the fastest-growing app in history, according to a UBS report ( via Reuters ). ChatGPT is a language model that uses natural language processing and artificial intelligence (AI) machine learning techniques to understand and generate human-like responses to user queries. I compare GPT's appearance with the launch of the internet in terms of its impact on the future of humanity. It enables machines to understand and generate language interactions in a revolutionary way. GPT (generative pre-trained transformer) AI could disrupt how we engage with technology much like the internet did. It's only been about two months since the launch (as of the time of this … [Read more...] about The Future Of AI In Banking

Share to Twitter Share to Linkedin French President Emmanuel Macron took a bold step last Friday by raising the legal retirement age in his country from 62 to 64, bypassing parliament and potentially setting his government up for a vote of no confidence. The unpopular pension reform, Macron says, is necessary to address the financial deficits caused by pandemic spending and the European energy crisis. With the U.S. watching closely, could France’s pension reform serve as a blueprint for future changes to Social Security? I don’t envy Macron for making this tough call. The people of France enjoy one of the most generous pension systems in the European Union (EU). According to 2020 data, France spent a jaw-dropping 14.7% of its GDP on pensions alone. However, the sustainability of this pension system is being threatened by demographic changes. The Western European country has one of the highest life expectancies in the world, and the expected years in … [Read more...] about From France To The U.S.: Pension Reforms And The Retirement Age Debate