March 25, 2014 |
Opponents of the Affordable Care Act have mounted the most far-reaching legal challenge to the law since the (unsuccessful) attempt to have its insurance mandate declared unconstitutional. At issue is whether the subsidies the law provides to help lower-income adults buy policies will be available in the 34 states with federally launched insurance exchanges, rather than just the state-operated ones. The Internal Revenue Service ruled that any American who meets the income limits can qualify for a subsidy; the plaintiffs say subsidies should be available only in the 16 states that set up their own exchanges.
March 19, 2014 |
Under fire for a shortage of Latino sign-ups for Obamacare, the state's health insurance exchange is looking for a booster shot from a well-established Southern California clinic chain. One recent weekday, Maria de Lourdes Martinez sat at a cubicle inside an AltaMed enrollment office in East Los Angeles browsing through the health plans available under the Affordable Care Act. Martinez, 49, of Rosemead, came to this strip-mall storefront across from a Starbucks because she'd brought her grandmother to an AltaMed clinic before.
March 13, 2014 |
California is nearing 1 million people enrolled in Obamacare coverage, but the state's insurance exchange is still running behind in signing up Latinos and young people. In figures released Thursday, the state said 923,832 people had picked a health plan through March 9, and about 1.5 million people have enrolled or been deemed eligible for an expansion of Medi-Cal, the state's Medicaid program for the poor. But the overall rate of health plan sign-ups slowed during February, partly hurt by a five-day outage of the state's enrollment website.
March 5, 2014 |
A Republican state lawmaker sued California's health insurance exchange, saying it overstepped its authority by refusing to allow more than 900,000 people to keep their existing health policies. In his suit, state Sen. Ted Gaines (R-Rocklin) said the Covered California exchange violated federal and state laws by requiring participating health plans to cancel policies by Dec. 31 that didn't comply with new requirements of the Affordable Care Act. The issue of cancellations for about 900,000 individual policyholders in California and several million nationwide has sparked widespread criticism of President Obama's healthcare law. Many consumers got new, improved coverage at lower rates as a result of federal premium subsidies.
February 26, 2014 |
The latest examples of the seemingly endless government probes of Bank of America Corp. focus on foreign exchange and Federal Housing Administration lending practices, the Charlotte, N.C., giant has disclosed. Banks are filing 10-K annual reports with the Securities and Exchange Commission this week, scattering news of investigations opening and closing behind them. Morgan Stanley said Tuesday it had reached a $275-million settlement with the SEC staff over subprime mortgage securities. In its 10-K, also out Tuesday afternoon, Bank of America said “government authorities” in North America, Europe and Asia are investigating “a significant number“ of participants in the foreign exchange, or FX, market.
February 25, 2014 |
Rumors about the possible collapse of leading Bitcoin exchange Mt. Gox are sending shock waves through the community that has embraced the virtual currency. Amid radio silence from the company, users are attempting to sort through conflicting signals that the company has shut down or that it is being acquired and possible relaunched. [Updated 9:30 a.m., Feb. 25: Mt. Gox issued a short statement : " In light of recent news reports and the potential repercussions on MtGox's operations and the market, a decision was taken to close all transactions for the time being in order to protect the site and our users.