Long-term care has been a troubled insurance product for well over a decade, causing financial pain to many insurers and their customers. Now, one executive’s plan to make money where others have failed has backfired.
Serious pricing mistakes loomed from the start. For policyholders, this has meant double- and even triple-digit premium-rate increases over the years. Insurers have collectively taken tens of billions of dollars of charges against earnings as they bolstered their reserves.
The difficult situation in long-term care provided an opening five years ago for Philip Falcone, a former hedge-fund manager looking for redemption. Mr. Falcone had admitted
RV manufacturers have been busy. With many companies sending employees to work from home during the pandemic, more Americans are moving out of crowded cities, abandoning cramped offices and apartments for big skies, open meadows and more affordable real estate.
The housing market will be changed, potentially for years to come. But while a New Yorker might be able to buy a single family home in, say, East Tennessee, for less than what they spend for a studio apartment in Manhattan, many of these big-city drop-outs aren’t opting for larger dwellings.
It’s no secret that money — how much we make and how we spend it — has a huge impact on the choices we make as adults. Young children often aren’t aware of their family’s finances, but it turns out that children can and should learn about saving and planning for their financial futures, even at a young age. And, since most kids don’t learn about personal finance in school, it’s up to parents to inform their child’s financial literacy.
What is financial literacy? Financial literacy is the ability to understand and effectively use various financial skills, including personal financial
From a restaurant in Lubbock, Abbott said these changes will go into effect Wednesday, March 10. Any type of business will be able to open at 100 percent capacity, but Abbott said businesses can make the decision to limit capacity or implement safety protocols, like requiring masks.
“Texas is far better positioned now than when I issued my last order in October,” said Abbott.
“People and businesses don’t need the state to tell them how to operate.”
The self-employed and gig workers are anxiously waiting for the Small Business Association to update guidelines to its Paycheck Protection Program, which could mean bigger loans for the group.
The Biden administration announced last week changes to how the SBA will calculate forgivable loans for sole proprietors and other small businesses without any employees. The updated formula — which will likely lead to larger loan amounts for non-employer firms, including sole proprietors and independent contractors — will be announced this week.
It’s still unclear when in the week the SBA will update its
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