BOARD CERTIFICATION EXAM STUDY GUIDES Lower Extremity Trauma
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Posted on April 13, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Ahmed Aboulenein
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WASHINGTON (Reuters) – The United States on Wednesday renewed the COVID-19 public health emergency, allowing millions of Americans to keep getting free tests, vaccines and treatments for at least three more months.
The public health emergency was initially declared in January 2020, when the coronavirus pandemic began. It has been renewed each quarter since and was due to expire on April 16.
The Department of Health and Human Services (HHS) in a statement said it was extending the public health emergency and that it will give states 60 days notice prior to termination or expiration.
This could be the last time HHS Secretary Xavier Becerra extends it, policy experts have said.
Posted on April 6, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
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Update on COVID-19 booster shots
In case you missed it: If you or a loved one are 50 or older, or are moderately or severely immunocompromised, you can get an additional Pfizer or Moderna COVID-19 booster shot at no cost to you.
The CDC recommends an additional booster shot for certain individuals to increase protection from severe disease from COVID-19. People over the age of 50, or who are moderately or severely immunocompromised, can get an additional booster of Pfizer or Moderna 4 months after their last dose.
This is especially important for those 65 and older who are at higher risk from severe disease and most likely to benefit from getting an additional booster.
Learn More: Remember: Medicare covers the COVID-19 vaccine, including booster shots, at no cost to you. Find a COVID-19 vaccine location near you.
Posted on April 5, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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The NASDAQ composite booked its best day in more than a week after investors snapped up technology and communications shares on Elon Musk’s disclosure of a large stake in social media platform Twitter Inc. The NASDAQ, Dow industrials and S&P 500 all rose for a second straight trading day.
The NASDAQ Composite COMP, +1.90% finished up 271.05 points, or 1.9%, at 14,532.55. That’s the largest daily percentage gain since March 24, 2022, according to Dow Jones Market Data.
The Dow Jones Industrial Average DJIA, +0.30% added 103.61 points or 0.3%, closing at 34,921.88.
The S&P 500 SPX, +0.81% closed up 36.78 points, or 0.8%, at 4,582.64.
Posted on April 1, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
U.S. stocks fell Thursday afternoon to cap a quarter in which Federal Reserve monetary tightening and the Russian invasion of Ukraine have weighed on sentiment and has put the S&P 500 on track for its first quarterly loss in two years.
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How stock indexes performed?
The Dow Jones Industrial Average fell 336 points, or 1%, to about 34,893.
The S&P 500 was down 38 points, or 0.8%, at 4,564.
The NASDAQ Composite shed 107 points, or 0.7%, to trade near 14,335.
BONDS: The yield on the 10-year Treasury fell to 2.331%, while the yield on the 2-year Treasury was at 2.337% at one point in late trading Thursday. After a brief inversion, both yields were basically trading at the 2.34% level in the latest trading.
Posted on March 28, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Markets: US stocks rose for two straight weeks. Investors appear to be putting more emphasis on strong corporate earnings than all the uncertainty around the war in Ukraine and inflation.
Treasury: Yields climbed (in anticipation of higher interest rates), giving a lift to financial stocks.
Ukraine: Top Russian military officials signaled a change in approach to the war. They spoke about the “complete liberation” of the Donbas region in eastern Ukraine, which means Russia could potentially be pivoting from its initial goal of taking Ukraine’s biggest cities and toppling its government.
EARNING REPORTS THIS WEEK:
Monday: Earnings from Dave & Buster’s.
Tuesday: US consumer confidence; US Job Openings and Labor Turnover (JOLTS); earnings from Micron, Chewy, Lululemon and RH.
Wednesday: US ADP jobs report; US GDP for Q4 (third estimate); weekly crude oil inventories; earnings from BioNTech and Paychex.
Thursday: End of first quarter; US personal income and spending; US weekly jobless claims: earnings from Walgreens and Blackberry.
Posted on March 27, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
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There are a zillion digital health companies on the market, each praising their own solution/product as they can. It is up to the market to decide if these are any good. But how would patients, hospital systems, clinics or even investors decide on their added value? With the help of experts.
It is the 4th time we collect The TOP100 Digital Health Companies. A curated list of the best companies of the thousands we encounter while doing our work at The Medical Futurist. Of them, we chose a hundred that represent the following key values: mindset for innovation, truly disruptive technology, viable business model and a clear dedication to digital health.
Take care, Berci Bertalan Meskó, MD The Medical Futurist
Posted on March 17, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
M.I.T TECHNOLOGY IN REVIEW
The 35 Innovators Under 35 is a yearly opportunity to take a look at not just where technology is now, but where it’s going and who’s taking it there. More than 500 people are nominated every year, and from this group MIT editors pick the most promising 100 to move on to the semifinalist round.
Their work is then evaluated by a panel of judges who have expertise in such areas as artificial intelligence, biotechnology, software, energy, and materials. With the insight gained from these rankings, the MIT editors pick the final list of 35.
Beginning in 2022, there will be few situations in which a patient can receive a bill for out-of-network care they believed would be covered by their insurance company. This new rule should especially benefit patients in emergency situations who don’t have the time or luxury to dig up the details on every provider they encounter.
The No Surprises Act also requires insurance companies to provide patients with at least 90 days of coverage if an in-network provider moves out of network. That way, patients aren’t forced to switch providers immediately if such a move happens while they’re in the middle of a treatment plan.
Now, the No Surprises Act does have its limitations. Patients can still get a bill for out-of-network care if they visit an urgent care clinic for non-emergency purposes. Also, if consumers are informed that the care they’re about to receive is out of network and they give written consent to move forward, then they may get billed for that care even once the new rule takes effect.
While the Great Resignation among physicians and other clinicians has been well reported, a potential onslaught of retirements by senior executives may further impact hospitals and health systems at an already precarious time.
This Health Capital Topics article will discuss some of the key challenges and issues surrounding healthcare’s Great Retirement and Great Resignation. (Read more…)
Posted on March 1, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
DARK : With Russia’s stock market closed, U.S. exchange-traded funds are signaling the scale of the rout facing the nation’s equity markets. The Bank of Russia halted trading in Moscow on Monday, one of several measures unleashed in a bid to shield the nation’s economy from sweeping SWIFT and other sanctions.
ETFs: According to Bloomberg, the VanEck Russia ETF (ticker RSX) and the iShares MSCI Russia Capped ETF (ERUS) plunged 30% and 27%, which was likely a create-to-lend activity where new shares are created for short sellers to borrow and bet against. That turned the two ETFs, which primarily track Russian energy stocks, into useful price-discovery tools for traders seeking to navigate the geopolitical turmoil caused by Russia’s invasion of Ukraine. “ETFs are suppose to be index trackers, but when that process breaks down, they take on the role of price-discovery vehicles — and it’s impressive how accurate they have been.”
Housing: Amounted to about 4% for the 12 months ending in January. Comparatively, Zillow reported that home values had risen by nearly 20% over that same period of time, while rents had increased by nearly 15%.
DomesticMarkets: Stocks were a mixed bag, but the S&P still suffered back-to-back losing months.
Posted on February 28, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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IRS: The IRS sent out a notice on February 23rd, warning taxpayers about a price hike coming in the next few months. The tax agency said that interest rates will increase for the calendar quarter starting April 1st, 2022. You can accrue interest on two types of payments: over-payment or underpayment. So starting in April, over-payments will have an interest rate of 4 percent, except for corporations which will earn a 3 percent rate and a 1.5 percent rate for the portion of a corporate over-payment that exceeds $10,000. In terms of underpayments, the interest rate will increase to 4 percent overall and 6 percent for large corporate underpayments.
“Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis,” the IRS website explained. The tax agency did not change interest rates in this last quarter, which began Jan. 1, 2022. Before they get changed in April, the rates are currently 3 percent for general over-payments and 2 percent for corporation over-payments, with a 0.5 percent rate for the portion of a corporate over-payment exceeding $10,000. The underpayment interest is 3 percent right now, expect for large corporations which have a 5 percent rate.
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CURRENCY INFLATION: Inflation may occur when the Federal Reserve, or another central bank, adds fiat currency into circulation at a rate that exceeds that of the economy’s growth rate. That creates a situation in which there are more dollars bidding on fewer goods and services. The result is that goods and services cost more. One reason that inflation has been a constant in the US since 1933 is that the FOMC has continually increased the money supply. In response to the 2008 financial crisis, the Fed dropped its lending rate close to zero as a way to inject more liquidity into the economy, which led to increased inflation but not hyperinflation. While those increases have usually moved in step with growth, that hasn’t always been the case.
And so, in response to the COVID-19 pandemic and subsequent lock-downs, the Federal Reserve released the equivalent of $3.8 trillion in new liquidity in 2020. That amount was equal to roughly 20% of the dollars previously in circulation. And it is one reason why many investors were watching the CPI closely in 2021.
EARNING REPORTS:
Monday: India GDP data; Earnings from Lordstown Motors, Groupon, HP, SmileDirectClub and Zoom Video
Tuesday: US and China manufacturing data; Earnings from AutoZone, Baidu, Domino’s Pizza, Hostess Brands, J.M. Smucker, Kohl’s, Target, AMC Entertainment and Salesforce
Wednesday: European inflation data; Earnings from Abercrombie & Fitch, Dine Brands, Dollar Tree, Snowflake and Victoria’s Secret
Thursday: ISM Non-Manufacturing Index; Earnings from Best Buy, Weibo, Costco and Gap
Friday: US jobs report
10-Year: Treasuries rallied to 1.902%.
Oil: The rise in oil prices is spilling over at the gas pump: The average gas price in the US has jumped 10 cents, to $3.64/gallon, in the past two weeks.
Partial SWIFT ban: Western governments put aside their hesitations and proposed banning some Russian lenders from SWIFT, the global messaging service that facilitates cross-border transactions. It’s a move that could cause turmoil across global financial markets.
Posted on February 23, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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33.6% of COVID Infections Were in Unvaccinated Persons
According to a recent CDC study. Among 422,966 reported SARS-CoV-2 infections in LAC residents aged ≥18 years during November 7, 2021–January 8, 2022:
• 33.6% were in unvaccinated persons • 13.3% were in fully vaccinated persons with a booster • 53.2% were in fully vaccinated persons without a booster • Unvaccinated persons were most likely to be hospitalized, representing 2.8% of COVID infections • Unvaccinated persons were most likely to be admitted to an ICU, or 0.5% of COVID infections • Unvaccinated persons were most likely to be require intubation for mechanical ventilation, or 0.2% of COVID infections.
Paul Edward Farmer (October 26, 1959 – February 21, 2022) was an American medical anthropologist and physician. Farmer held an MD and PhD from Harvard University, where he was the Kolokotrones University Professor and the chair of the Department of Global Health and Social Medicine at Harvard Medical School. He was the co-founder and chief strategist of Partners In Health (PIH), an international non-profit organization that since 1987 has provided direct health care services and undertaken research and advocacy activities on behalf of those who are sick and living in poverty. He was professor of medicine and chief of the Division of Global Health Equity at Brigham and Women’s Hospital.
Dr. Farmer had written extensively on health and human rights, the role of social inequalities in the distribution and outcome of infectious diseases, and global health.
Posted on February 13, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
The Crypto Bowl and the Dot Com Bowl?
By Staff Reporters
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CRYPTO CURRENCY: Tonight, about 117 million people will watch celebrities pitch cryptocurrency on the Super Bowl. In what’s being dubbed the “Crypto Bowl,” a batch of crypto exchanges including FTX, Coinbase, and Crypto.com, will air Super Bowl commercials at a cost of up to $7 million per 30-second spot. The game is even being held at a stadium named after SoFi, a company that offers crypto trading.\
This isn’t the first time startups from an emerging industry have used the Super Bowl to introduce themselves to a mass audience. Does anyone remember the 2000 Super Bowl between the Rams and the Titans? That was known as the “Dot-Com Bowl.” Startups that were part of the dot-com wave of the early internet bought nearly 20% of the total ad slots in what is considered the peak of that tech bubble.
Well, that bubble burst. In fact, according to journalist Neal Freyman, of the 14 dot-com companies that purchased Super Bowl ads that year, four are still active, five were acquired, and five (including Pets.com, OnMoney.com, and Epidemic.com) are either defunct or their status is unclear.
Posted on February 2, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
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By Richard Helppie
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We’re posting this episode of The Common Bridge, with Henry Ford Health System President and CEO, Wright Lassiter, III complete with written transcript, along with the podcast and video links because there were technical difficulties with Mr. Lassiter’s audio. This way, you can read along, or refer back to us.
Posted on January 31, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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For those those senior healthcare professionals that like to get out of town, vacation, or visit the grandchildren, be sure to always ask for discounts from the various travel providers. This is especially true for all travelers age 55 years and over. Here are a few we know about … for you to consider post pandemic:
American Airlines: There are various senior discounts that apply to various trips. Call to find out which are available.
Amtrak: Senior pricing is available for most Amtrak locations. This ranges from 10 to 15 percent off.
Alaska Airlines: Seniors can save a significant amount with discount plane tickets. However, discounts vary from one time frame to the next. Most commonly, seniors can save 10 percent.
Southwest Airlines: Seniors over 65 who are traveling with Southwest Airlines may be eligible for Senior Fares. These are available online and for international and domestic travel. You can also purchase Senior Fares through a customer service representative at the airline or a travel agency. You will need to arrive early at the gate to be able to prove your age in order to be checked in for your flight.
United Airlines: United offers discounted prices for flights for seniors over 65. Seniors need to select the Over 65 category when purchasing tickets online or with a customer service agent. Discounts vary depending on the flight and location.
Posted on January 28, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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According to reporter Neal Freyman, Tech giant Oracle said it’s paying $28.3 billion to buy electronic medical records company Cerner, because anything that makes paperwork less excruciating seems like a savvy business play.
Oracle is known for being aggressive with acquisitions (it even rallied a group to try and buy TikTok last year), but Cerner is Oracle’s biggest purchase in its history. The deal is further evidence that health care is “on par with banking in terms of the importance to our future,” as cofounder Larry Ellison told analysts earlier this month.
In Cerner, Oracle will get the Klay Thompson of the electronic medical records market—a very influential player, but in second place behind Epic, which owns a 31% market share.
Bottom line: Big tech companies see a golden opportunity in bringing the health care industry to the cloud, given its size (health care spending accounts for almost 20% of US GDP), and its old-school record-keeping process. A Mayo Clinic study cited by Oracle showed that doctors and nurses spend an average of 1–2 hours on desk work for every hour they take to see patients.
Posted on January 27, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Markets: Stocks were in the green yesterday until Fed Chair Jerome Powell explained that the Federal Reserve Open Market Committee was planning to start hiking interest rates in March to combat soaring inflation. Then, they tanked and Treasury yields rose sharply higher. Microsoft still had a solid day after its superb earnings report offered bullish signs for the entire software industry. But, stock markets in Asia tumbled to their lowest in nearly 15 months after America’s central bank chief confirmed widely expected plans to tackle higher inflation with an increase in interest rates this year, beginning in March. And finally, Cryptos got crushed, again!
FOMC: “With inflation well above 2 percent and a strong labor market, the Committee expects it will soon be appropriate to raise the target range for the federal funds rate,” said Chairman Powell.
Posted on January 27, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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IBM has reportedly placed its Watson Health division on the auction block again
Watson is a question-answering computer system capable of answering questions posed in natural language, developed in IBM’s DeepQA project by a research team led by principal investigator David Ferrucci. Watson was named after IBM’s founder and first CEO, industrialist Thomas J. Watson.
Stock Markets: US stocks staged a big afternoon comeback for the second day in a row … but still not big enough to close in the green. American Express was the top performer in both the S&P and the Dow after the company reported its highest billings volume ever in Q4. And, enthusiasm over meme stocks more broadly appears to be dwindling along with cryptos. And, while NASDAQ took a hit, Microsoft reported quarterly sales of more than $50 billion for the first time ever.
Economy: The weight of the financial world is on Jerome Powell’s shoulders today. The Federal Reserve chair will provide an update on the central bank’s views on sky-high inflation and its plan for interest rate hikes this year (though none are expected until March).
Pandemic: Pfizer and BioNTech started clinical trials for an Omicron-specific vaccine yesterday. The results will help the pharma partners decide whether to replace their current jab formula with one that targets the most dominant Covid variant. The new vaccine is being tested both as a three-shot series for un-vaccinated participants and as a booster for the already vaccinated.
Posted on January 24, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
Stock Markets: The S&P is off to its worst start to a year since 2016. The NASDAQ is in a correction. And the week ahead features a busy earnings slate and a Federal Reserve meeting.
CovisPandemic: Tony Dr. Fauci said he is “confident as you can be” that the Omicron wave in the US will peak by mid-February. In a growing number of states, that peak has already come and gone and cases are plunging in states like New York and Florida. Other states, such as Oklahoma, Idaho, and Wyoming, are still reporting an uptick in new Covid cases.
Crypto-Currency: Crypto investors, meanwhile, wish they got the weekend off like stock traders, because bitcoin, ethereum, and other digital tokens continued to sink.
Federal Reserve: Federal Reserve officials will get together on Tuesday and Wednesday against the backdrop of quaking markets. Investors will want to hear an update on Chair Jerome Powell’s views on inflation. This Fed meeting will likely be the last before an anticipated interest rate hike in March. And, a blizzard of companies will report including nearly half of the Dow’s 30 giants (American Express, 3M, IBM, and more) and tech heavyweights such as Apple, Microsoft, and Tesla.
Tax Season: The income tax filing season opens today and government officials warn it could be bumpy due to a depleted IRS. The Treasury says to file early, file online, and request your refund via direct deposit to avoid the severe headaches.
Posted on January 23, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
Mark Cuban, not Congress, will give Americans cheaper prescription drugs
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When universal health care fails to pass in Congress, there’s always Mark Cuban to fall back on. The billionaire and Dallas Mavericks owner launched an online pharmacy this week in order to combat the price gouging of prescription drugs by large pharmaceutical companies.
The Mark Cuban Cost Plus Drug Co. (MCCPDC) will offer more than 100 generic drugs that will be purchased directly from the manufacturers and sold online with a 15 percent markup across the board and a small pharmacist fee. For context, pharmaceutical companies generally mark prices up at least 100 percent and up to 1000 percent in some cases.
Posted on January 21, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Markets: The S&P 500 closed below 4,500 points for the first time since October after a heavy sell-off in the final hour of the trading day. Netflix stock tumbled in after-hours trading when it revealed slowing subscriber growth for the prior and current quarters.
Economy: The number of people filing jobless claims took an unexpectedly big jump last week after a period of historically low readings. The pop is likely a sign of Omicron disruptions hitting the labor market, and economists expect it to be temporary.
On November 30, 2021, the U.S. Supreme Court heard oral arguments regarding the challenges arising from the cuts made by the Centers of Medicare & Medicaid Services (CMS) to the 340B Drug Pricing Program.
The 340B Drug Pricing Program allows hospitals and clinics that treat low-income, medically underserved patients to purchase certain “specified covered outpatient drugs” at discounted prices (applying a ceiling to what drug manufacturers may charge certain healthcare facilities) – 25% to 50% of what providers would typically pay – and then receive reimbursement pursuant to the rates set forth in the Outpatient Prospective Payment System (OPPS) at the same rate as all other providers. (Read more…)
Posted on January 18, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Markets: The stock market was closed for Martin Luther King Jr. Day. Maybe a day off is just what the market needs to score its first winning week of 2022. But … For many stocks, 2022 was a real bear of a year. More than 220 US-listed companies with a market cap of $10+ billion are down at least 20% from their peaks. And things are even worse in the tech-heavy NASDAQ, where 39% of companies have dropped at least half from their all-time highs.
Economy: A combo of Omicron disruptions, higher inflation, and shortages of everything has caused forecasters to lower their projections for economic growth this quarter. Analysts surveyed by the WSJ dropped their Q1 forecast to 3% annual growth from 4.2% back in October.
China: World shares were mixed after China reported that its economy expanded at an 8.1% annual pace in 2021, though growth slowed to half that level in the last quarter. And, Paris, Frankfurt, Tokyo and Shanghai advanced while Hong Kong and Seoul declined.
Here are eight things to keep in mind as you prepare to file your 2021 taxes.
1. Income tax brackets have shifted a bit
There are still seven tax rates, but the income ranges (tax brackets) for each rate have shifted slightly to account for inflation. For 2021, the following rates and income ranges apply:
Tax rate
Taxable income brackets:Single filers
Taxable income brackets:Married couples filing jointly (and qualifying widows or widowers)
10%
$0 to $9,950
$0 to $19,900
12%
$9,951 to $40,525
$19,901 to $81,050
22%
$40,526 to $86,375
$81,051 to $172,750
24%
$86,376 to $164,925
$172,751 to $329,850
32%
$164,926 to $209,425
$329,851 to $418,850
35%
$209,426 to $523,600
$418,851 to $628,300
37%
$523,601 or more
$628,301 or more
Source: Internal Revenue Service
2. The standard deduction has increased slightly
After an inflation adjustment, the 2021 standard deduction has increased slightly to $12,550 for single filers and married couples filing separately and $18,800 for single heads of household, who are generally unmarried with one or more dependents. For married couples filing jointly, the standard deduction has risen to $25,100.
3. Itemized deductions remain the same
For most filers, taking the higher standard deduction is more practical and saves the hassle of keeping track of receipts. But if you have enough tax-deductible expenses, you might benefit from itemizing.
The following rules for itemized deductions haven’t changed much for 2021, but they’re still worth pointing out.
State and local taxes: The deduction for state and local income taxes, property taxes, and real estate taxes is capped at $10,000.
Mortgage interest deduction: The mortgage interest deduction is limited to $750,000 of indebtedness. But people who had $1,000,000 of home mortgage debt before December 16, 2017, will still be able to deduct the interest on that loan.
Medical expenses: Only medical expenses that exceed 7.5% of adjusted gross income (AGI) can be deducted in 2021.
Charitable donations: The cash donation limit of 100% of AGI remains in place for 2021, if donations were made to operating charities.1
Miscellaneous deductions: No miscellaneous itemized deductions are allowed.
4. IRA and 401(k) contribution limits remain the same
The traditional IRA and Roth contribution limits in 2021 remain the same as in 2020. Individuals can contribute up to $6,000 to an IRA, and those age 50 and older also qualify to make an additional $1,000 catch-up contribution. If you’re able to max out your IRA, consider doing so—you may qualify to deduct some or all of your contribution.
The 2021 contribution limit for 401(k) accounts also stays at $19,500. If you’re age 50 or older, you qualify to make an additional $6,500 catch-up contribution as well.
5. You can save a bit more in your health savings account (HSA)
For 2021, the max you can contribute into an HSA is $3,600 for an individual (up $50 from 2020) and $7,200 for a family (up $100). People age 55 and older can contribute an extra $1,000 catch-up contribution.
To be eligible for an HSA, you must be enrolled in a high-deductible health plan (which usually has lower premiums as well). Learn more about the benefits of an HSA.
6. The Child Tax Credit has been expanded
For 2021, the American Rescue Plan Act (ARPA) has temporarily modified the Child Tax Credit requirements and amounts for household incomes below $75,000 for single filers and $150,000 for married filing jointly.
First, the ARPA has raised the age limit for dependents from 16 to 17. In addition, the child tax credit has increased from $2,000 to $3,000 for children age 6 through 17 and up to $3,600 for children under 6. If your income exceeded the above limits but was below $200,000 for single filers or $400,000 for joint filers, you’ll receive the standard child tax credit of $2,000 per child.
The IRS began sending monthly advance Child Tax Credit payments to eligible families in July and sent its last advance in December. If your dependent didn’t qualify for the child tax credit, you may still qualify for up to $500 of tax credits under the “credit for other dependents” (see IRS Publication 972 for more details). Tax credits, which reduce the tax you owe dollar for dollar, are generally better than deductions, which reduce your taxable income.
7. The alternative minimum tax (AMT) exemption has gone up
Until the AMT exemption enacted by the Tax Cuts and Jobs Act expires in 2025, the AMT will continue to affect mostly households with incomes over $500,000. Still, the AMT has investment implications for some high earners.
For 2021, the AMT exemptions are $73,600 for single filers and $114,600 for married taxpayers filing jointly. The phase-out thresholds are $1,047,200 for married taxpayers filing a joint return and $523,600 for all other taxpayers.
8. The estate tax exemption is even higher
The estate and gift tax exemption, which is indexed to inflation, has risen to $11.7 million for 2021. But the now-higher exemption is set to expire at the end of 2025, meaning it could be essentially cut in half at that time if Congress doesn’t act.
The annual gift exclusion, which allows you to give money to your loved ones each year without incurring any tax liability or using up any of your lifetime estate and gift tax exemption, stays at $15,000 per recipient.
Don’t get caught off guard
As you prepare to file your taxes for 2021, here are a few additional items to consider.
If you’re not retired, the 10% early withdrawal penalty that was waived for retirement account distributions in 2020 has been reinstated for 2021.
If you’re age 72 or older, make sure you’ve taken your required minimum distribution (RMD) from your retirement accounts or else you face a 50% penalty on any undistributed funds (unless it’s your first RMD, in which case, you can wait until April 1, 2022).
If you haven’t contributed to your retirement accounts already, now is the time. Review your earnings for the year and take advantage of any deductions that can lower your tax bill. Also, keep an eye on Washington for any last-minute tax changes that could affect your return before you file. Tax season will be here before you know it, and it’s never too early to start preparing.
1Operating charities, or qualifying public charities, are defined by Internal Revenue Code section 170(b)(1)(A). You can use the Tax Exempt Organization Search tool on IRS.gov to check an organization’s eligibility.
Posted on January 12, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
BY STAFF REPORTERS
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StockMarkets: Stocks ticked higher as investors zeroed in on Senate testimony from Fed Chair Jerome Powell, who is up for a second term. Powell said the Fed would do what’s necessary to get inflation back to normal levels.
Banks: Bank of America decided to make life a little less difficult for account holders without piles of cash. The bank—America’s second largest—announced on Tuesday that it would reduce overdraft fees by around 70%, from $35 to $10. BofA is also scrapping a $12 non-sufficient funds fee (for bouncing a check or making an automated overdraft) and will eliminate transfer fees for its overdraft protection service.The decision comes on the recently shined heels of similar moves by other large banks.
Capital One announced last month that it was eliminating overdraft fees altogether.
In August, JPMorgan increased its charge-incurring overdraft amount to $50 (it was previously $5).
PNC Bank introduced a 24-hour grace period on overdraft penalties.
Posted on January 11, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Stock Markets: Down more than 2% with its back against the wall, the NASDAQ staged a huge comeback yesterday afternoon to close in the green and snap a 4-day losing streak.
Pandemic: Moderna was the S&P 500’s top performer after its CEO said that a booster shot targeting Omicron would soon enter clinical trials. Pfizer also said its Omicron booster would be ready by March.
Economy: A growing number of finance experts are taking the over when it comes to the number of interest rate hikes this year. Goldman Sachs now predicts the Fed will raise rates four times in 2022 (more than previously forecast) and JPMorgan CEO Jamie Dimon said he’d be surprised if it were only four hikes.
IRS: Even though tax filing season is just around the corner (opening January 24th with an April 18th deadline), the typically joyful and charismatic IRS has a case of the blues. On Monday, the Treasury Department warned that the agency has had a rough year and taxpayers should expect delays as returns are processed. According to Treasury officials, budget cuts and pandemic-related staffing shortages have created a towering backlog at the agency, and a “frustrating season” is on the horizon. While the IRS typically enters filing season with about 1 million unaddressed returns, the number stood at around 8.6 million in mid-Nov. 2021.
Posted on January 10, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
MEDICARE.gov
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The Omicron variant spreads more easily than the original virus that causes COVID-19. Here are 3 things you can do to help protect yourself and others:
Get the COVID-19 vaccine, if you haven’t already. Vaccines are the best tool to protect us from COVID-19. They slow the transmission of the virus, and provide strong protection against severe illness and hospitalization.
Get the booster when you’re fully eligible. Everyone 18 years and older should get a booster shot 2 months after their Johnson & Johnson vaccine, or 5 months after completing their primary COVID-19 vaccination series of Pfizer-BioNTech or Moderna. Adolescents and teens ages 12 to 17 should also get a booster of Pfizer-BioNTech 5 months after their primary series.
Posted on January 8, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
Stock Markets: The S&P is off to its worst start to a year since 2016, and the NASDAQ fell 4.5% this week—its worst drop since February 2021. The Fed’s hawkish pivot + rising bond yields are really pounding technology stocks.
Crypto-Currency: Bitcoin fell to its lowest level since last September, and other cryptos like ethereum and solana are also in the doghouse. It appears as though the Fed’s move to raise borrowing costs and the turmoil in mining powerhouse Kazakhstan are dragging down prices.
Posted on January 7, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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NASDAQ Markets: The good news—if you own tech stocks—is that they didn’t fall as much yesterday as they had in the previous two days. NASDAQ comp: 15,080.87 at the close.
Posted on January 6, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Markets: Already through a rough day, stocks dove even lower after the Fed released the minutes from its December meeting. Tech companies continued to get clobbered as rising bond yields make their shares less attractive.
About the Federal Reserve Minutes: Inflation anxiety was real at the central bank’s previous meeting, and officials signaled they could hike interest rates “sooner or at a faster pace” than previously expected to cool down prices.
Posted on January 5, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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18% Surveyed Skipped Prescriptions to Save Money
A recent Gallup survey asked “Thinking about the last 12 months, have you or a family member skipped a prescribed pill, dose, or other type of medication in order to save money?”. The amount of prescriptions in the household of those who answered yes varied as follows:
• 8+: 25% • 5-7: 22% • 1-4: 17% • 0: 8% • Total that answered yes: 18%
Posted on January 5, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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The stock market was very sharply mixed yesterday, and the NASDAQ Composite took the brunt of the damage. Even as the Dow Jones Industrial Average was up triple digits, the NASDAQ fell almost 2% as of 1:45 p.m. ET; and finishing down 210.08 points or (-1.33%).
Physicians and other investors looking at the biggest stocks in the NASDAQ would have to go through three dozen stocks on the list before finding a single one that rose more than 1%. Many of the top tech giants were down 1% to 5% or more on the day. Yet there were some winning NASDAQ stocks, and a few in particular might seem surprising to those used to seeing more popular names among top performers.
Bond yields gained thanks to bullish attitudes around economic growth.
Economy: The Great Resignation rolls on as a record 4.5 million Americans quit their jobs in November. That’s equivalent to 3% of the workforce.
Posted on January 4, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
In the United States, a high-deductible health plan is a health insurance plan with lower premiums and higher deductibles than a traditional health plan. It is intended to incentivize consumer-driven healthcare. Being covered by an HDHP is also a requirement for having a health savings account. Some HDHP plans also offer additional “wellness” benefits, provided before a deductible is paid.
High-deductible health plans are a form of catastrophic coverage, intended to cover for catastrophic illnesses. Adoption rates of HDHPs have been growing since their inception in 2004, not only with increasing employer options, but also increasing government options. As of 2016, HDHPs represented 29% of the total covered workers in the United States; however, the impact of such benefit design is not widely understood.
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% Covered Employees Enrolled in Account-Based CDHP’s
Posted on January 4, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
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Dear Dr. David Marcinko,
With warm wishes for a joyful holiday, we are please to announce that the layout of AJPH is almost back on schedule, following COVID-19 related impacts to our production team. To keep these monthly highlight emails synched, we are going to highlight articles in two issues of AJPH.
The December issue of AJPH features multiple articles focused on surveillance, surveys and COVID-19, along with articles discussing physical and mental health of home health care workers, racial and ethnic disparities in the impact of COVID-19 in the active U.S. military and firearm injury & gun violence. Here are a few of the many articles in the December 2021 issue:
The mission of AJPH is to advance public health research, policy, practice and education. Toward that goal, the journal also produces monthly podcasts available in English and Chinese at ajph.org. The monthly podcasts are also on iTunes and Google Play.
AJPH and the Centers for Disease Control and Prevention are seeking papers for an issue on “Ubiquitous Lead: Risks, Prevention-Mitigation Programs and Emerging Sources of Exposure.” Manuscripts must be submitted to AJPH by Jan. 30. For additional information about the supplement, contact T. LeBlanc.
Happy Holidays!
Alfredo Morabia, MD, PhD Editor-in-Chief, AJPH @AlfredoMorabia @AMJPublicHealth Join APHA and get full access to AJPH, the official journal of the American Public Health Association.
Posted on January 3, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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StockMarkets: The three major equity indexes begin 2022 near record highs after closing out their best 3-year performance since 1999. The top-performing S&P sectors: Energy, whose 48% annual gain was its best ever (thank you, soaring oil prices). Real estate was the second-best performing sector at 42%, while tech and financials both rose 33%. The biggest winner in the S&P was Devon Energy, which gained nearly 190%. Ford, Moderna, and nine others in the index more than doubled their stock price. Microsoft rose 51%, and Apple’s 34% gain has it sitting close to a $3 trillion market capitalization.
Covid Medicine: Omicron has caused a rapid explosion of Covid cases in the US—the 7-day rolling average of nearly 400,000 new cases on Saturday was more than double the number from one week before. With hospitalizations also ticking higher, officials are warning that health systems will be overloaded before the Omicron wave is expected to peak in mid-January. And, Dr. Anthony Fauci said yesterday that health officials are looking at adding a negative test requirement after five days of quarantine. Under existing guidance, you can emerge from isolation without showing a negative test.
Posted on January 1, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
INFLATION – Did we say [Health Care] Inflation?
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Why? Inflation, which is the rate of price increases over time, affects all of us on a personal level. We pay electric bills, go grocery shopping, decorate our houses, buy cars—and this year all of those things got more expensive. Especially health care.
Thanks to a nefarious mix of soaring demand for goods and snarled supply chains, US consumer prices jumped the most in 39 years in November, and the 6.8% inflation rate marked the sixth straight month inflation grew by 5% or more. Producer prices, which can eventually trickle down to individuals, also increased at their fastest pace on record last month.
Of course, some inflation is good for the economy when wages keep up with rising prices (the Fed aims for a 2% inflation rate over time). But, so far in the pandemic, that hasn’t happened. While many Americans have gotten a raise in 2021, wage gains haven’t been sufficient to offset inflation, resulting in the erosion of purchasing power—especially for folks on a more or less fixed income.
Where do we go from here?
After months of claiming inflation was “transitory,” the Fed has dropped that term and adopted a more hawkish monetary policy to tamp down surging prices. The central bank is winding down its bond-buying stimulus program faster than originally planned, and also plans to hike interest rates three times in 2022.
In its inflation-fighting efforts, the Fed isn’t alone on the front lines. The Bank of England became the first major central bank to raise interest rates during the pandemic in order to combat the biggest annual jump in consumer prices in 10 years. Russia has raised rates seven times this year. Mexico, Chile, Costa Rica, Pakistan, and Hungary are among other countries which are tightening monetary policy to combat higher prices.
Looking ahead…as if economic policymakers needed another inflation curveball, Omicron has taken the mound. Central banks generally don’t expect the new variant to significantly dent economic growth, but they do think it may prolong inflation by exacerbating the supply–demand imbalance that fueled higher prices in the first place.
Posted on December 31, 2021 by Dr. David Edward Marcinko MBA MEd CMP™
The Common Bridge
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Entering the Last Chapter of Covid, From Omicron and Beyond – With Dr. James R. Baker, Jr., M.D.
Richard Helppie welcomes back University of Michigan Professor Emeritus of Internal Medicine, and Virologist, Dr. James R. Baker, Jr., M.D., who brings words of both encouragement and warning as the world comes to what he feels is the beginning of the final throws of the Covid-19 pandemic.
Dr. Baker has been a valued guest on the Common Bridge since the beginnings of the coronavirus over a year ago, and brings thoughtful, scientific, data-driven analysis to the most significant health issue of our lifetime.
Posted on December 31, 2021 by Dr. David Edward Marcinko MBA MEd CMP™
Bond Markets to Close Early Friday
By Staff reporters
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The stock market, buoyed by a Santa Claus rally and a banner year, will have one more day to extend its gains.
Both the New York Stock Exchange and NASDAQ will be open on New Year’s Eve. Bond markets will close early at 2 p.m. Friday.
The markets typically close on New Year’s Day but this year the holiday falls on a Saturday, when they would have shuttered anyway. Last week, the New York Stock Exchange and Nasdaq closed on Friday, Christmas Eve, in observance of Christmas, which also fell on a Saturday.
Posted on December 29, 2021 by Dr. David Edward Marcinko MBA MEd CMP™
By staff reporters
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66% of Nurses Expressed Consideration to Leave The Profession
A survey of 570 nurses between May and June 2021 found:
• 66% of nurses expressed some level of consideration to leave the profession. • 97% of polled participants agree, that increases to pay rates and other incentives would attract and retain nurses. • 58% agree that tele-health should be a cornerstone of care delivery. • 85% believe that we must improve cross training to adapt to crisis events. • 85% strongly believe national licensure would have greatly benefited the country during the pandemic.
Posted on December 29, 2021 by Dr. David Edward Marcinko MBA MEd CMP™
Wendell Potter is a Famous Ex-Executive from Cigna Who Left His High Paying PR Job in 2007 to Reveal the True Story Behind Health Insurance Carrier Public Relations.
On December 2, 2021, the U.S. Department of Justice (DOJ) announced that it had entered into an $18.2 million settlement with Flower Mound Hospital, a 91-bed hospital located northwest of Dallas, to resolve claims that the hospital had violated the Stark Law, the Anti-Kickback Statute (AKS), and the False Claims Act (FCA) by making improper inducements to referring physicians. This Health Capital Topics article will review the facts underlying the settlement. (Read more…)
Posted on December 24, 2021 by Dr. David Edward Marcinko MBA MEd CMP™
BY STAFF REPORTERS
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Markets: The stock market will enjoy a well-deserved day off on Christmas Eve after the S&P closed at an all-time high yesterday. Crocs suffered its worst trading day since April 2020 after its announced $2.5 billion acquisition of the footwear label Hey Dude got a thumbs down from investors.
Covid: The FDA approved Merck’s Covid pill for adults at high risk for severe disease, just one day after they greenlit Pfizer’s pill. And the CDC shortened the required isolation time for health workers who test positive to combat potential employee shortages during the Omicron wave.
Posted on December 23, 2021 by Dr. David Edward Marcinko MBA MEd CMP™
By staff reporters
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StockMarkets: Stocks gained for the second straight day as a mini “Santa Clause Rally” picks up steam. Tesla made its grand return to the $1 trillion market cap club after Elon Musk said he was “almost done” selling 10% of his stake.
Economy: Consumer confidence rose this month to its highest level since July, showing that Omicron and inflation concerns are no match for the formidable American shopper.
Posted on December 22, 2021 by Dr. David Edward Marcinko MBA MEd CMP™
The “Numbers” Day
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DEFINITION: A palindrome is a word, number, phrase, or other sequence of characters which reads the same backward as forward, such as madam or racecar. There are also numeric palindromes, including date/time stamps using short digits 11/11/11 11:11 and long digits 02/02/2020.
CRUNCH: According to mathematician Neal Freyman, today is the sound of mathematicians scrambling to find another topic to tweet about besides dates that form palindromes.
WHY: Today, 12/22/21, is the 22nd and final palindromic date of the year. There won’t be another year with 22 palindromic dates until 2111.
FACT: 1/20/21 was the first Inauguration Day with a palindromic date in American history. The next one will come in 1,000 years, on 1/20/3021.
Posted on December 22, 2021 by Dr. David Edward Marcinko MBA MEd CMP™
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Markets: Down big one day, up big the next—that’s the Omicron-era stock market for you. Stocks surged yesterday following a 3-day losing streak, with travel companies leading the way.
Covid: The FDA is set to authorize Covid pills from Pfizer and Merck this week, Bloomberg reports. These treatments, which are intended to be taken by vulnerable people shortly after they are infected, could significantly reduce the burden on strained hospitals. Experts say the pills are a pandemic medical milestone second only to vaccines.
Posted on December 21, 2021 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Markets: With Omicron concerns swirling and President Biden’s big spending plan KO’d by Senator Joe Manchin, the S&P posted its biggest three-day drop since September. Tesla shares have now fallen back to their price before their big Hertz deal was announced in October.
Build Back Better: Goldman Sachs cut its economic growth forecast for next year after Joe Manchin said he wouldn’t vote for Democrats’ $2 trillion social spending bill. But yesterday the senator detailed some changes to the bill he’d support, reviving hopes that negotiations could resume in January.
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