SUMMER SPEAKS of “False Dawns”

Posted on January 14, 2023 by Dr. Marcinko

By Staff Reporters

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Former Treasury Secretary Larry Summers is worried that investors and economists are becoming overly optimistic after year-over-year inflation cooled to 6.5% in December.

“One has to be careful of false dawns. If you think about it, the good news was inflation running in the 6’s, and that’s still inconceivably high by the standards of two or three years ago,” he told Bloomberg on Friday, adding that his forecast is still that a “recession this year is more likely than not.” 

Since March, Federal Reserve officials have raised interest rates seven times in hopes of taming inflation without sparking a recession, and all the while, economists and Wall Street analysts have debated whether they’ll be successful. Summers has repeatedly found himself in the bears’ camp. In October, he told the Financial Times that it would take “a recession” and “unemployment towards the 6% range” to ensure U.S. inflation is truly gone. 

CITE: https://www.r2library.com/Resource/Title/0826102549

But the economist admitted on Friday that the latest inflation report was “good news”—and it came even though the unemployment rate was just 3.5% in December. He argued that this is evidence that wages aren’t rising too dramatically, which means the Fed may be able to change tactics soon. 

So, what do you think?

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ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

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Filed under: Breaking News, Health Economics, Investing | Tagged: , , , , , , | Leave a comment »

AFFORDABILITY: Healthcare on Notice for Patients

Posted on January 14, 2023 by Dr. Marcinko

By Staff Reporters

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People living in the US are finding it increasingly difficult to afford needed health services—even with employer-sponsored health insurance, a new analysis suggests.

CITE: https://www.r2library.com/Resource/Title/0826102549

Researchers at the NYU School of Global Public Health (GPH) examined data from the National Health Interview Survey—an annual CDC survey—that was collected from 2000 to 2020 for 230,000+ adults who received health insurance through an employer or union. Both men and women found most healthcare services to be less affordable now compared to the early 2000s, according to the finding of the NYU analysis reported in a December 2022 JAMA abstract. Women, in particular, found all types of health services to be less affordable than men.

From a nationally representative survey which is conducted annually, researchers included data from 5,545 women and 5,353 men sampled in 2020, and found that about 6% of women reported they couldn’t afford needed medical care. This compares to just 3% of slightly larger sample groups from 2000, per the analysis. By contrast, about 3% of men gave that response in 2020, compared to 2% in 2000.

Avni Gupta, a doctoral student in the public health policy and management department at NYU GPH and the lead author of the analysis, offered that “lower incomes and higher healthcare needs among women could be driving these differences in reported affordability.”

And, José Pagán, the department chair and co-author of the JAMA analysis, said people with employer-sponsored coverage—the largest source of health insurance for people living in the US—“generally think they are protected.”

“[B]ut our findings show that health-related benefits have been eroding over time,” he said; according to Healthcare Brew

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ORDER: https://www.amazon.com/Dictionary-Health-Insurance-Managed-Care/dp/0826149944/ref=sr_1_4?ie=UTF8&s=books&qid=1275315485&sr=1-4

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COMMENTS APPRECIATED

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Filed under: "Advisors Only", "Doctors Only", Ethics, Glossary Terms, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, iMBA, Inc., Managed Care | Tagged: , , , , , , , , | Leave a comment »

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