Medical debt in collections appearing on credit reports has decreased significantly over the past decade, according to new research by the Urban Institute. In 2013, 19.5% of Americans had medical debt in collections, while in 2023, that number dropped to just 5%. Efforts by major credit bureaus in 2022 and 2023 played a vital role
admin
The Federal Trade Commission is gearing up to file lawsuits against three prominent U.S. health companies for their role as intermediaries in negotiating prices for medications such as insulin. According to a source familiar with the matter, the agency believes that these companies are artificially inflating costs for patients, ultimately making healthcare less affordable for
As the 2024 presidential election approaches, many investors are feeling anxious about the potential impact of the election on their finances. According to a survey conducted by Betterment, more than half of investors (57%) are nervous about the upcoming election, with 40% expecting to make changes to their investments based on the election outcome. This
With NASA astronauts currently docked at the International Space Station for a longer period than initially anticipated, the agency’s leadership is starting to consider potential alternatives for returning the crew back to Earth. While Boeing’s Starliner remains the primary option for the return journey, officials are now acknowledging the need to explore other possibilities due
Bill Gross, a longtime investor, has raised concerns about Tesla’s recent behavior in the stock market. He believes that Tesla is starting to resemble a speculative play commonly seen among retail investors. Gross pointed out that Tesla is exhibiting characteristics reminiscent of a meme stock, with “sagging fundamentals” and a surge in price action. This
The U.S. Federal Reserve is contemplating cutting interest rates, a move that could have significant implications for the American travelers heading abroad. Interest rates play a crucial role in influencing the strength of the U.S. dollar in the foreign exchange market. Generally, when U.S. interest rates are on the rise relative to those of other
In today’s society, it is becoming increasingly common for young adults, specifically those in Generation Z, to rely on financial assistance from their parents. According to a report from Bank of America, nearly half of Gen Zers between the ages of 18 and 27 depend on their families for financial support. This reliance on their
The recent surge in home prices, accounting for a staggering increase of over 40% from pre-pandemic levels, should theoretically prompt current homeowners to consider refinancing. However, the reality is quite different as the prevailing interest rates have more than doubled since two years ago, making it financially unfavorable for homeowners to pull cash out of
President Joe Biden’s administration is considering forgiving the debt of millions of federal student loan borrowers, which could come into effect just weeks before the upcoming election against former president Donald Trump. The U.S. Department of Education revealed in the Spring 2024 Unified Agenda that the final rule on student loan relief would be published
The 2024 Global Wealth Report from UBS predicts a significant rise in the number of global millionaires over the next five years with only a few countries showing a contrasting trend. It is projected that the number of adults owning $1 million or more will increase in 52 out of 56 developed and developing economies