News for Insurers
Top stories summarized by our editors
3/27/2020

Wisconsin resident Luis Tinoco could face as many as six years in prison after being charged with identity theft in connection with Social Security fraud. Authorities said Tinoco used a Social Security number belonging to a California woman in order to get a job on a farm.

3/27/2020

There are some financial indicators that suggest the stock market may have seen the bulk of the declines associated with the novel coronavirus, writes Jurrien Timmer of Fidelity Management & Research Co. Timmer says there will still be lows, but the market "has moved very quickly to discount" the shock of the pandemic.

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Fidelity
3/27/2020

Employees who lose employer-sponsored health insurance due to job losses associated with the coronavirus pandemic can keep their coverage for up to 18 months through the Consolidated Omnibus Budget Reconciliation Act program if they are able to pay the total premiums. For people with low incomes, Medicaid may be a coverage option, and those with some income can qualify for special enrollment through the Affordable Care Act marketplaces.

3/26/2020

US officials reported over 200 deaths from COVID-19 on Wednesday, a record number of fatalities for the US in one day, pushing the country's death toll to more than 900 as US cases surpassed 67,000. The novel coronavirus that causes the disease has now infected more than 458,000 people and killed 20,800 globally, and US infections fell behind only Italy's 74,386 and China's 81,661.

3/26/2020

The Senate has voted 96-0 to pass a $2.2 trillion stimulus package to aid industries, small businesses and workers affected by the coronavirus pandemic. The House is scheduled to act on the bill Friday.

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Senate
3/26/2020

Companies must always be prepared to face a crisis head-on, with a trained team in place to execute that plan and a strategy to carry them into the future, writes Valeria Maltoni. "After a major crisis, it's useful to monitor the remedies you apply, and take action to move towards a future that learns from the past and improves upon it," she writes.

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Conversation Agent
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Valeria Maltoni
3/26/2020

The coronavirus stimulus bill passed by the Senate would suspend rules for required minimum distributions that apply to defined-contribution retirement plans and IRAs. "Waiving 2020 RMDs will help lots of people avoid a tax bill on IRA value that has vanished," IRA expert Ed Slott says.

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Senate
3/26/2020

The CMS warned states not to terminate anyone from their Medicaid programs, effective March 18, and to cover all coronavirus-related treatment and testing without any cost sharing if they want to receive enhanced federal matching funds for managing the pandemic. The agency also ordered states to avoid charging premiums beyond rates in place as of Jan. 1 and not to tighten eligibility standards beyond those being used at the start of the year.

3/26/2020

A report from the CMS Office of the Actuary projects health care spending will grow at an annual rate of 5.4% over the next 10 years. Medicare will be the biggest source of spending growth due to aging baby boomers, with a projected average increase of 7.6% per year.

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FierceHealthcare
3/26/2020

Data from a 30-patient clinical trial conducted at the Shanghai Public Health Clinical Center in China found no significant clinical benefit associated with the use of hydroxychloroquine to treat COVID-19. Researchers said a larger trial is needed to confirm the results, and the team said different dosages could still prove effective.

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Forbes