Pining for Taxpayer Bailout, For-Profit Health Insurance Industry Threatens Massive Post-Covid Premium Hikes

Stephan:  Most of the media is focused on the pathetically inadequate checks for ordinary folk all bearing, it should be noted, Trump's name in an unprecedented act of malignant narcissism,. But, I believe, that is just the cover story. The real story is that Trump and his friends are raiding the American treasury in an unprecedented way. And for the illness profit corporations there is an additional trick; a kind of bribery. Shower us with money or we are going to raise healthcare premiums enormously. Here's the story.

A lobbyist told The Hill in an interview Tuesday that unless the insurance industry receives a federal bailout, companies intend to raise premiums on Americans due to the effects of the coronavirus outbreak on private employer-based plans—a threat that progressives said only strengthens the case for a single-payer, Medicare for All system.

“Nationalize them,” Boston-based activist Jonathan Cohn said of insurance companies.

American Benefits Council senior vice president for health policy Ilyse Schuman said that employer-based healthcare plans were unlikely to handle the stress of an increase in benefit claims from the disease without hiking prices for consumers.

“They’ll be left with no option but to pass costs along to employees in the form of higher premiums next year,” said Schuman. “That’s really why we’re asking Congress to step in and protect employer-sponsored coverage.”

According to The Hill, insurers are already asking for federal relief from the burden of paying out claims:

America’s Health Insurance Plans (AHIP), the leading trade group for insurance companies, and Blue Cross Blue Shield Association urged congressional leaders in a letter last week to provide temporary “federal risk mitigation programs to support the financial stability of plans that incur extraordinary, unplanned costs in 2020 and 2021 […]

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Last month was the first March in 18 years without a single school shooting in America

Stephan:  Here is some good news. But at the same time, it is a horrific commentary on America and its gun psychosis.

Credit: wsilver / Flickr

The COVID-19 pandemic has disrupted just about every aspect of American life. But there have been a few unintentional positive consequences from the nationwide lockdown.

Air pollution in the U.S. has dropped significantly, giving us a glimpse at what a post-carbon world may look like. NASA revealed that NO₂ pollution over New York and other major metropolitan areas in northeastern USA was 30% lower in March 2020.

Americans are also adopting shelter dogs and cats like never before. Since coronavirus first landed in the U.S. there have been countless stories of shelters running out of pets.

There is also one massive unintended consequence of the COVID-19 pandemic: March 2020 was the first March since 2002 that there wasn’t a school shooting in the United States.

Most schools in the U.S. were shut down in early March to stop the spread of the virus.

in March 2002, a 13-year-old student brought a gun to school along with a hit list, but was subdued by a school resource offer before he had the chance to pull the trigger.

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I.M.F. Predicts Worst Downturn Since the Great Depression

Stephan:  In my opinion anti-globalization and increased nationalism amongst conservatives worldwide, and particularly Trumplicans in the U.S., is going to become an increasing problem at just the moment when the problems the world faces, climate change, international pandemics, the transition out of the carbon energy era are becoming more pressing and the solutions more global in nature. The lack of competency and leadership in the White House and the Senate is damaging the U.S. in more and more ways each day. If the IMF is correct, and I think they are, the further stress this places on the economy is going to prove disastrous. The fate of America hangs in the balance in November. What are you doing to favor solutions that foster wellbeing.

WASHINGTON — The International Monetary Fund issued a stark warning on Tuesday about the coronavirus’s economic toll, saying that the world is facing its worst downturn since the Great Depression as shuttered factories, quarantines and national lockdowns cause economic output to collapse.

The grim forecast underscored the magnitude of the shock that the pandemic has inflicted on both advanced and developing economies and the daunting task that policymakers face in containing the fallout. With countries already hoarding medical supplies and international travel curtailed, the I.M.F warned that the crisis threatened to reverse decades of gains from globalization.

In its World Economic Outlook, the I.M.F. projected that the global economy would contract by 3 percent in 2020, an extraordinary reversal from early this year, when the fund forecast that the world economy would outpace 2019 and grow by 3.3 percent. This year’s fall in output would be far more severe than the last recession, when the world economy contracted by less than 1 percent between 2008 and 2009.

“As countries implement necessary quarantines and social distancing practices to contain the pandemic, the world has been put in a Great […]

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‘Beyond predatory’: Trump Treasury Department gives banks green light to seize $1,200 stimulus checks to pay off debts

Stephan:  With Trump there is always a grift that screws the poor. There is always incompetence, there is always nastiness. Consider this yet another example of what I mean. There are so many.

Trump and his familiar Treasury Secretary Steve Mnuchin

“The Treasury Department is pointing out opportunities for banks and debt collectors to steal Americans’ relief checks out from under them.”

President Donald Trump’s Treasury Department has given U.S. banks a green light to seize a portion or all of the one-time $1,200 coronavirus relief payments meant to help Americans cope with financial hardship and instead use the money to pay off individuals’ outstanding debts—a move consumer advocates decried as cruel and unacceptable.

“These payments are supposed to help individuals and families put food on the table during this crisis, not enrich debt collectors.”
—Maura Healey, Massachusetts Attorney General

“The Treasury Department effectively blessed this activity on a webinar with banking officials last Friday,” The American Prospect‘s David Dayen reported Tuesday.

In an audio recording from the webinar obtained exclusively by the Prospect, Ronda Kent, chief disbursing officer at the Treasury Department’s Bureau of the Fiscal Service, told bankers that […]

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Stimulus Checks May Be Delayed Because Trump Wants His Name Printed On Them, Report Says

Stephan:  Here we see an act proving Trump's malignant narcissism on full display. I confess I find Trump so repulsive I have trouble watching him as he spends hours each day on television claiming nothing is his fault, but everything proves how great he is.

Trump telling his usual lies at the daily campaign rally he holds in the press briefing room, where he tells the world nothing is his fault; he’s doing everything wonderfully, and he has great TV ratings
Credit: Yuri Gripas/Reuters

Stimulus checks meant to boost the economy in the wake of the coronavirus pandemic may be delayed because President Donald Trump wants to have his name printed on them, the Washington Post reported Tuesday.

The Treasury Department on Monday finalized a decision to have Trump’s name appear in the memo line of the $1,200 stimulus checks each American will receive as part of the coronavirus relief bill passed by Congress last month, the Washington Post reported.

Engineers have to make a computer programming change and then test the system in order to insert Trump’s name on the checks, which will take time and likely cause a delay in the first batch of checks, two senior officials told the Washington Post.

This will be the first time a president’s name will appear […]

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